NYCB Announces Surprise Loss, New CEO, and Accounting Issues; Raises Concerns for Major Lender
• NYCB released announcements on Thursday that worried investors, including a surprise net loss, new CEO appointment, and material weaknesses in internal controls
• The bank is booking a $2.4 billion goodwill impairment charge and filing its annual report late due to assessing internal controls
• NYCB acquired assets from the now-defunct Signature Bank about a year ago, causing its assets to exceed $100 billion and face stricter regulations
• As a major real estate lender, NYCB's issues have raised concerns about the health of its loans and assets in the property sector
• An analyst described the situation as "uncertain" under new leadership and downgraded NYCB's stock on fears that more issues could arise