About New York Community Bancorp, Inc. The conference call will be simultaneously webcast at ir.myNYCB.com and archived through 5:00 p.m. on August 22, 2024. Conference ID: 5857240 Dial-in for Live Call: Domestic (888) 596-4144 International(646) 968-2525 Dial-in for Replay: Availability July 25 (11:00 a.m.) – July 29 (11:59 p.m.) Domestic (800) 770-2030 International(609) 800-9909 New York Community Bancorp, Inc. has market-leading positions in several national businesses, including multi-family lending, m ...

Shares of New York Community Bank (NYCB 0.99%) dropped 68.6% in the first six months of the year, according to data provided by S&P Global Market Intelligence. The bank slashed its dividend in response to a host of issues, and macroeconomic conditions are fueling investor skepticism about its prospects. NYCB had a rough first quarter. The company acquired Flagstar Bank and Signature Bank in 2023 with the goal of opportunistically expanding options and extending into commercial lending. Those moves presented ...

At the Effective Time, every three shares of the Company's common stock issued and outstanding or held by the Company in treasury were combined into one issued share of common stock. Additionally, the number of authorized shares of the Company's common stock was decreased from 2,000,000,000 to 666,666,666, without any change in the par value per share. No fractional shares will be issued in connection with the reverse stock split. Common shareholders who would otherwise be entitled to receive fractional sha ...

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 ...

Group 1 - New York Community Bancorp has received shareholder approval for a reverse stock split, which the board of directors has now also approved [1][5] - The reverse stock split will be on a one-for-three basis and is expected to take place in mid-to-late July [3][6] - Following the announcement, NYCB shares fell by 1.1% on Thursday and have decreased by 70.9% since the beginning of the year [2][6] Group 2 - The reverse stock split aims to increase the price of NYCB shares without changing its market capitalization, potentially stabilizing the stock after a poor earnings report in January 2024 [6] - Trading volume for NYCB stock was low on Thursday, with only about 3.3 million shares traded compared to the daily average of 16.9 million shares [7]

Core Insights - Signature Bank's failure was attributed to poor management and inadequate risk policing practices, which left it vulnerable to the contagion effects from the collapses of Silvergate Bank and Silicon Valley Bank [11] - The FDIC identified the bank's involvement in the digital asset sector, particularly after the downfall of FTX, as a significant factor in its failure [3][2] - New York Community Bancorp (NYCB) acquired assets from Signature Bank, including customer deposits and loans, with a total estimated fair value of $37.8 billion [4][10] Group 1: Signature Bank's Collapse - Signature Bank collapsed shortly after the failure of Silicon Valley Bank and the self-liquidation announcement by Silvergate Bank [5] - The bank had previously focused on commercial real estate but shifted to accepting cryptocurrency deposits in 2018, establishing relationships with major crypto players [9] - Following the seizure of Silicon Valley Bank, Signature Bank faced a crisis of confidence, exacerbated by its exposure to the struggling crypto industry [6] Group 2: Acquisition by NYCB - NYCB's wholly-owned subsidiary, Flagstar Bank, assumed liabilities with an estimated fair value of $35.7 billion, including $33.5 billion in customer deposits [1] - The acquisition occurred in March 2023, just one week after the FDIC took control of Signature Bank [8] - The assets acquired included $24.9 billion in cash and cash equivalents and $11.7 billion in loans and leases [10]

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 ...