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 | ...

New York Community Bancorp, Inc. (NYCB) is aiming to diversify its loan portfolio. Loan portfolio repricing will drive net interest income (NII) growth, while cross-selling opportunities will aid fee income. Yet, commercial real estate (CRE) loan exposure is concerning, and unexpected losses on its New York office and multi-family property could create headwinds. The bank has a strong balance sheet. Deposits saw a four-year (2019-2023) compound annual growth rate (CAGR) of 26%, while net loans witnessed a C ...

New York Community Bancorp, Inc.'s (NYCB) Long-Term Issuer Default Ratings (IDRs) were recently downgraded to BB from BB+ by Fitch Ratings. Nonetheless, the rating outlook remains stable.The primary reasons behind the downgrade were NYCB's weak earnings and profitability, along with execution risk associated with its restructuring plan.Principal Factors Driving the DowngradeDeclining Profitability: The rating downgrade comes after the release of its first-quarter earnings. Results showed a significant rise ...

New York Community Bancorp got the cash infusion it needed to enact a turnaround, but it will be a years-long process. Don't wait.To simplify the story, New York Community Bancorp (NYCB 3.40%) got too big, too fast just as interest rate increases made operating a bank more complicated. It ended up needing a huge cash infusion, and it massively reduced its dividend to just a penny per share per quarter, all in support of a broader turnaround effort. Now that it offers little in the way of dividend income and ...

Spencer Platt In February, I covered the chaos at New York Community Bancorp, Inc. (NYSE:NYCB) after key risk and audit executives resigned, the bank reported a Q4 loss, and Moody's downgraded its credit. Fortunately for NYCB, an investor group led by former US Treasury Secretary Steve Mnuchin stepped in with a $1 billion rescue package in March, giving the group roughly 40% control of the bank and a new CEO. Since then, the new management has begun a cleanup operation to diversify and return the bank to pr ...

New York Community Bancorp (NYCB) reported the first-quarter 2024 loss of 25 cents per share compared with the Zacks Consensus Estimate of a loss of 13 cents. It reported earnings of 23 cents in the year-ago quarter.The results were primarily affected by a significant rise in provisions for credit losses and expenses. A fall in non-interest income and lower deposit balance were additional concerns. However, substantial growth in net interest income (NII) acted as a tailwind. The net loss to common stockhold ...

Key TakeawaysNew York Community Bancorp (NYCB) shares soared 28% Wednesday after the bank laid out a plan to return to profitability, even as it reported a wider-than-expected loss for the first quarter.NYCB has struggled after posting an unexpected loss earlier this year as its loans in the commercial real estate and multifamily property space were revealed to be in danger.Jefferies analysts said the first-quarter results were "better than worst-case fears." Shares of New York Community Bancorp (NYCB) soar ...

Forward-Looking Information More information regarding some of these factors is provided in the Risk Factors section of our Annual Report on Form 10‐K for the year ended December 31, 2023, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2023, June 30, 2023, and September 30, 2023 and in other Securities and Exchange Commission ("SEC") reports we file. Our forward‐looking statements may also be subject to other risks and uncertainties, including those we may discuss in this Amendment, during ...