NYCB shares jump after new CEO gives two-year plan for “clear path to profitability”

NYCB shares jump after new CEO gives two-year plan for “clear path to profitability”

A New York Community Bank stands in Brooklyn, New York City, on Feb. 8, 2024. Spencer Platt | Getty Images New York Community Bank on Wednesday posted a quarterly loss of $335 million on a rising tide of soured commercial loans and higher expenses, but the lender’s stock surged on its new performance targets. The … Read more

Regional bank failures may be ahead, Former FDIC head Bair warns

Regional bank failures may be ahead, Former FDIC head Bair warns

Regional bank earnings may expose critical weaknesses, according to Sheila Bair, former chair of the U.S. Federal Deposit Insurance Corp. Their quarterly numbers begin hitting Wall Street this week. “I’m worried about a handful of them,” Bair told CNBC’s “Fast Money” on Tuesday. “I think some of them are still overly reliant on industry deposits, … Read more

High interest rates set to pressure small players

High interest rates set to pressure small players

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., February 7, 2024. Brendan Mcdermid | Reuters The benefits of scale will never be more obvious than when banks begin reporting quarterly results on Friday. Ever since the chaos of last year’s regional banking crisis that consumed three … Read more

NYCB is paying the nation’s highest interest rate (APY)

NYCB is paying the nation’s highest interest rate (APY)

A New York Community Bank stands in Brooklyn on February 08, 2024 in New York City.  Spencer Platt | Getty Images New York Community Bank, the regional lender that needed a $1 billion-plus lifeline last month, is offering the country’s highest interest rate for a savings account. NYCB raised the annual percentage yield offered via … Read more

Where cracks in the banking sector may appear without more M&A

High interest rates set to pressure small players

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., February 7, 2024. Brendan Mcdermid | Reuters The forces that consumed three regional lenders in March 2023 have left hundreds of smaller banks wounded, as merger activity — a key potential lifeline — has slowed to a trickle. … Read more

It’s been a year since SVB’s failure. Where our bank stocks stands now

It’s been a year since SVB’s failure. Where our bank stocks stands now

It’s been a year this week since the collapse of Silicon Valley Bank sent shockwaves through the banking sector. While the crisis most directly affected the regionals, major U.S. financial institutions for most of 2023 also found their stocks under assault. Big banks, like Club holding Wells Fargo , were largely able to turn the … Read more

NYCB lost 7% of deposits in past month, slashes dividend to 1 cent

NYCB lost 7% of deposits in past month, slashes dividend to 1 cent

The New York Community Bank (NYCB) headquarters in Hicksville, New York, US, on Thursday, Feb. 1, 2024. Bing Guan | Bloomberg | Getty Images New York Community Bank said Thursday it lost 7% of its deposits in the turbulent month before announcing a $1 billion-plus capital injection from investors led by former Treasury Secretary Steven … Read more

Why private equity has been involved in every recent bank deal

Why private equity has been involved in every recent bank deal

Federal Reserve Chairman Jerome Powell fist bumps Treasury Secretary Steven Mnuchin after a House Financial Services Committee hearing on “Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response” in the Rayburn House Office Building in Washington, U.S., December 2, 2020. Greg Nash | Reuters The $1 billion-plus injection that New York Community Bank announced … Read more

New York Community Bancorp tumbles 40%, is halted

New York Community Bancorp tumbles 40%, is halted

Shares of struggling New York Community Bancorp. fell more than 40% on Wednesday amid reports that the regional bank is seeking a cash infusion. Reuters and The Wall Street Journal reported on Wednesday that the bank was looking to outside investors for cash to shore up its balance sheet. NYCB did not immediately respond to … Read more

Some NYCB deposits may be at risk after another Moody’s downgrade

Some NYCB deposits may be at risk after another Moody’s downgrade

A sign is pictured above a branch of the New York Community Bank in Yonkers, New York, U.S., January 31, 2024. Mike Segar | Reuters Regional lender New York Community Bank may have to pay more to retain deposits after one of the company’s key ratings was slashed for the second time in a month. Late … Read more