Key Takeaways New York Community Bancorp, Inc. (NYCB) said it will go ahead with a 1-for-3 reverse stock split sometime mid-to-late July, after its board approved the move Wednesday. Why Do Companies Do Reverse Stock Splits? For example, if a company has 10 shares, worth $10 each, its market capitalization would be $100 (10x$10). If it carries out a 1-for-2 reverse stock split, it would have 5 shares, worth $20 at the time of the split while the market cap remains steady at $100. It is pretty much the oppos ...

New York Community Bancorp notes that this follows up on the approval granted by shareholders for a split at its last annual shareholder meeting. The company's board of directors gave its approval to the reverse stock split yesterday. News of the reverse stock split has shares of NYCB sliding 1.1% lower on Thursday. Investors will note that the company's shares are also down 70.9% since the start of the year. We have all of the hottest market news traders need to know about on Thursday! A few examples inclu ...

Flagstar Bank also assumed liabilities with an estimated fair value of $35.7 billion, including $33.5 billion in customer deposits, according to the filing. Earlier, Signature Bank sought to distance itself from the digital asset sector after the downfall of cryptocurrency platform FTX, which was one of the bank's clients. The FDIC said that was the "root cause" of the bank's failure. NYCB's wholly-owned subsidiary, Flagstar Bank, acquired assets with an estimated total fair value of $37.8 billion as of the ...

KEY PROPOSALS PASS WITH STRONG MAJORITY Preliminary results also indicated that the Company's shareholders ratified and/or approved the following: "I am pleased with the preliminary results from our annual meeting today which indicate overwhelming shareholder support for the key proposals presented for a vote, as each was approved by a strong majority" commented Joseph Otting, President and Chief Executive Officer. "We believe the preliminary results of today's vote reflects shareholder confidence in manage ...

HICKSVILLE, N.Y., June 4, 2024 /PRNewswire/ -- New York Community Bancorp, Inc. (NYSE: NYCB) (the "Company"), the parent company of Flagstar Bank, N.A. (the "Bank") announced that on June 3, 2024, the Board of Directors appointed President and Chief Executive Officer, Joseph M. Otting, to the additional role of Executive Chairman of the Board of both the Company and the Bank, effective as of the close of business on June 5, 2024. Mr. Otting's appointment will better facilitate his ability, alongside the new ...

"I'm worried about a handful of them," Sheila Bair, who headed the FDIC during the financial crisis of 2008, said in April. "I think some of them are still overly reliant on industry deposits, have a lot of concentrated commercial real estate exposure, and then I think the larger picture really is the potential instability of their uninsured deposits even for the healthy ones if we have another bank failure." As those banks began reporting earnings, Bair said she was worried that issues that hurt the indust ...

New York Community Bancorp, Inc. (NYCB) has entered into a commitment letter with JPMorgan Chase & Co. (JPM) to sell around $5 billion in mortgage warehouse loans to the latter. Sale proceeds will be reinvested into cash and securities, thereby bolstering the company's liquidity profile. With this, on a pro-forma basis, the ratio of cash and securities to total assets is projected to improve to 24% from 20% at Mar 31, 2024. Upon closing, NYCB expects the transaction to increase the CET1 capital ratio by 65 ...

Key Takeaways Shares in New York Community Bancorp (NYCB) jumped nearly 6% in premarket trading Wednesday after the embattled regional bank said late Tuesday that it had agreed to sell around $5 billion of mortgage warehouse loans to JPMorgan Chase (JPM) in a deal aimed at shoring up its liquidity and capital as it undergoes a turnaround to return to profitability. NYCB, which expects to complete the sale in the third quarter, anticipates the deal will add 65 basis points to its common equity tier 1 (CET1) ...

TRANSACTION WILL INCREASE CET1 CAPITAL RATIO TO 10.8% ON A PROFORMA BASIS AND FURTHER BOLSTER LIQUIDITY LOAN-TO-DEPOSIT RATIO IMPROVES TO 104% HICKSVILLE, N.Y., May 14, 2024 /PRNewswire/ -- New York Community Bancorp, Inc. (NYSE: NYCB) (the "Company"), the parent company of Flagstar Bank, N.A. (the "Bank") announced today that it has agreed to sell approximately $5 billion in mortgage warehouse loans to JPMorgan Chase Bank, N.A. ("JPMC"). Upon closing, the Company expects that the transaction will add 65 ba ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-16577 | Title of each class | Trading Symbol | Name of each exchange on which registered | | --- | --- | --- | | Common Stock, $0.01 par value per share | NYCB | ...