Posted 3/6/2024, 5:11:03 PM
NY Community Bancorp Seeks Cash Infusion After Surprise Loss, CEO Change
- Embattled lender New York Community Bancorp is seeking a cash infusion and gauging investor interest
- NYCB shares have tumbled nearly 32% amid volatility
- NYCB faces pressure after surprise Q4 loss tied to commercial real estate exposure, dividend cut
- NYCB recently identified material weaknesses in internal controls related to loan reviews
- NYCB revised its quarterly loss to $2.7B, replaced its CEO; sale seen as unlikely by analysts