NYCB Stock Jumps After Regional Bank Sells $5 Billion of Loans to JPMorgan

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) ...