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...Shares of most regional banks have yet to fully recover from the collapse of Silicon Valley Bank and a handful of other regional institutions in an industry crisis last year....
...Including reciprocal deposits, held for customers of other banks and typically not counted as core deposits, NYCB had total deposits of $77bn after the $8bn deduction....
...The pressures on NYCB come almost a year after the failures of Silicon Valley Bank and other regional banks unsettled the US banking industry. Read more here...
...Shares of New York Community Bancorp plunged about 25 per cent in pre-market trading on Friday, after the lender disclosed it had replaced its chief executive and identified “material weaknesses” in internal...
...The bank has started a process to bring in new chief risk and audit executives, it added....
...New York Community Bancorp and its chief risk officer parted ways shortly before the regional US lender reported larger than expected losses from real estate lending that hammered the bank’s stock....
...New York Community Bancorp shares shed a quarter of their value on Friday after the regional lender disclosed it had replaced its chief executive and identified “material weaknesses” in internal controls...
...Shares of New York Community Bancorp plunged on Wednesday after the lender that bought failed Signature Bank in the middle of last year’s regional banking turmoil cut its dividend to boost its capital and...
...US regional banks are not out of the woods yet....
...New York Community Bancorp, with $115bn or so in assets, is having serious problems, and the broad market (here represented by the S&P 1500) indifferent: Admittedly the regional bank index is underperforming...
...New York Community Bancorp shares fell 38% on Wednesday, partly on worries about the bank’s exposure to commercial real estate....
...In their view, New York Community Bancorp was an “outlier” because it had become a large bank through acquisitions, but still had a regional-bank-scale CRE business: Its CRE loans were about “four times...
...ratio of NYCB’s large bank peers.”...
...provided many of the bank’s problems....
...The bank also announced that Alessandro DiNello, the former chief executive of Flagstar Bank, which NYCB bought in 2022, would take on an executive role....
...Larger banks such as JPMorgan Chase, Bank of America and Wells Fargo also saw their profits fall in the final quarter of 2023....
...The move yesterday came after New York City Bancorp swung to a surprise loss partly because of a rise in expected loan losses tied to office buildings, sending its shares plunging....
...Shares of New York Community Bancorp tumbled another 23 per cent on Monday, after Moody’s over the weekend became the first credit firm to lower the rating of the bank’s deposits to junk....
...Prior to the announcement shares in the bank were trading close to a five-year high; the profit warning triggered an immediate drop of more than 21 per cent....
...Regional US lender New York Community Bancorp on Wednesday revealed it had taken large losses on loans tied to commercial property, while Japan’s Aozora Bank and Deutsche Bank on Thursday warned about the...
...The breezy state of affairs in markets persisted despite the fact that beleaguered New York Community Bancorp had dropped more than 40 per cent earlier in the day, suggesting traders were not worried about...
...The breezy state of affairs in markets persisted despite the fact that the beleaguered New York Community Bancorp had dropped more than 40 per cent earlier in the day, suggesting traders were not worried...
...New York Community Bancorp talks as though it has turned a corner....
...Smaller lenders stocks also surged, with Zions Bancorp and Citizens Bank both adding 7 per cent. The Fed released forecasts on Wednesday projecting 75 basis points worth of rate cuts next year....
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