New York Community Bank (NYCB) is selling $5 billion in loans to J.P. Morgan Chase.The sale of these “mortgage warehouse loans” is designed to strengthen the regional bank’s capital and liquidity, according to a Tuesday (May 14) press release.“Consistent with my guidance during our recent earnings call, we are moving forward quickly to implement our strategic plan, which focuses on improving our capital, liquidity and loan-to-deposit metrics,” NYCB President and CEO Joseph Otting said in the release. “The m ...

New York Community Bancorp, Inc. (NYCB) has entered into a commitment letter with JPMorgan Chase & Co. (JPM) to sell around $5 billion in mortgage warehouse loans to the latter.Sale proceeds will be reinvested into cash and securities, thereby bolstering the company’s liquidity profile. With this, on a pro-forma basis, the ratio of cash and securities to total assets is projected to improve to 24% from 20% at Mar 31, 2024. Upon closing, NYCB expects the transaction to increase the CET1 capital ratio by 65 b ...

Key TakeawaysNYCB shares jumped nearly 6% in premarket trading Wednesday morning after the embattled bank said it has agreed to sell $5 billion of mortgage warehouse loans to JPMorgan Chase.The bank anticipates the deal will add 65 basis points to its common equity tier 1 capital ratio and boost its liquidity profile as the proceeds of the transaction will be reinvested into cash and securities.NYCB shares may run into selling pressure near the March 2023 swing low around $5.80 but could retest recent lows ...

TRANSACTION WILL INCREASE CET1 CAPITAL RATIO TO 10.8% ON A PROFORMA BASIS AND FURTHER BOLSTER LIQUIDITYLOAN-TO-DEPOSIT RATIO IMPROVES TO 104%HICKSVILLE, N.Y., May 14, 2024 /PRNewswire/ -- New York Community Bancorp, Inc. (NYSE: NYCB) (the "Company"), the parent company of Flagstar Bank, N.A. (the "Bank") announced today that it has agreed to sell approximately $5 billion in mortgage warehouse loans to JPMorgan Chase Bank, N.A. ("JPMC"). Upon closing, the Company expects that the transaction will add 65 basi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-16577 NEW YORK COMMUNITY BANCORP, INC. (Exact name of registrant as specified in its charter) Delaware 06-1377322 (State or other jurisdiction of incorporation o ...

New York Community Bancorp, Inc. (NYCB) is aiming to diversify its loan portfolio. Loan portfolio repricing will drive net interest income (NII) growth, while cross-selling opportunities will aid fee income. Yet, commercial real estate (CRE) loan exposure is concerning, and unexpected losses on its New York office and multi-family property could create headwinds. The bank has a strong balance sheet. Deposits saw a four-year (2019-2023) compound annual growth rate (CAGR) of 26%, while net loans witnessed a C ...

New York Community Bancorp, Inc.'s (NYCB) Long-Term Issuer Default Ratings (IDRs) were recently downgraded to BB from BB+ by Fitch Ratings. Nonetheless, the rating outlook remains stable.The primary reasons behind the downgrade were NYCB's weak earnings and profitability, along with execution risk associated with its restructuring plan.Principal Factors Driving the DowngradeDeclining Profitability: The rating downgrade comes after the release of its first-quarter earnings. Results showed a significant rise ...

New York Community Bancorp got the cash infusion it needed to enact a turnaround, but it will be a years-long process. Don't wait.To simplify the story, New York Community Bancorp (NYCB 3.40%) got too big, too fast just as interest rate increases made operating a bank more complicated. It ended up needing a huge cash infusion, and it massively reduced its dividend to just a penny per share per quarter, all in support of a broader turnaround effort. Now that it offers little in the way of dividend income and ...

Spencer Platt In February, I covered the chaos at New York Community Bancorp, Inc. (NYSE:NYCB) after key risk and audit executives resigned, the bank reported a Q4 loss, and Moody's downgraded its credit. Fortunately for NYCB, an investor group led by former US Treasury Secretary Steve Mnuchin stepped in with a $1 billion rescue package in March, giving the group roughly 40% control of the bank and a new CEO. Since then, the new management has begun a cleanup operation to diversify and return the bank to pr ...

New York Community Bancorp (NYCB) reported the first-quarter 2024 loss of 25 cents per share compared with the Zacks Consensus Estimate of a loss of 13 cents. It reported earnings of 23 cents in the year-ago quarter.The results were primarily affected by a significant rise in provisions for credit losses and expenses. A fall in non-interest income and lower deposit balance were additional concerns. However, substantial growth in net interest income (NII) acted as a tailwind. The net loss to common stockhold ...