New York Community (NYCB) Reports Loss in Q1, Cuts Dividend

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 ...