NYCB Stock Jumps After Regional Bank Sells $5 Billion of Loans to JPMorgan
New York munity Bancorp(NYCB) Investopedia·2024-05-15 20:31
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 ...