NY Community Bancorp Shares Plunge 42% as Earnings Miss, Dividend Slashed 71%
• New York Community Bancorp (NYCB) shares tumbled 42% on Wednesday after missing Q4 earnings estimates and slashing its dividend by 71% • NYCB reported $0.36 loss per share, missing estimate of $0.27 earnings per share • Net income and EPS hit by "merger-related items and a FDIC special assessment" in Q4 • Last year, NYCB's Flagstar Bank took over non crypto-related deposits from shuttered Signature Bank • NYCB lowered quarterly dividend to $0.05 from $0.15, CEO said "prudent decision" to accelerate building capital as Category IV bank