New York Community Bancorp Inc

Regional bank failures may be ahead, Fmr. FDIC Chair Sheila Bair warns

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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

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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)

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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

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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. As the memory of last year’s regional banking crisis begins to fade, it’s easy to believe the industry is in the clear. But the … Read more

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

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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

Stock market today: Live updates

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Traders work on the floor during morning trading at the New York Stock Exchange (NYSE) on March 06, 2024 in New York City.  Spencer Platt | Getty Images Stocks rose Thursday, pushing the S&P 500 and Nasdaq Composite back to record highs, as hope over easing inflation and gains in tech aided Wall Street’s midweek … Read more

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

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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

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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

NYCB shares rebound after troubled regional bank announces $1 billion capital raise

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Struggling regional lender New York Community Bancorp announced a $1 billion capital raise and a leadership shakeup on Wednesday, headlined by former Treasury Secretary Steven Mnuchin, leading to a sharp rebound for its stock. NYCB has agreed to a deal with several investment firms including Mnuchin’s Liberty Strategic Capital, Hudson Bay Capital and Reverence Capital … Read more

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

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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