Seidman died of complications from a sudden attack of pneumonia after an intercontinental airline flight in Albuquerque, New Mexico at the age of 88. He was interred at his ranch in Wagon Mound, New Mexico. The FDIC office complex in Arlington, VA is named for Seidman. Arizona State University named a research institute in his honor. The Seidman College of Business at Grand Valley State University also bears his name.