Welcome to our dedicated page for New York Community Bancorp news (Ticker: NYCB), a resource for investors and traders seeking the latest updates and insights on New York Community Bancorp stock.
New York Community Bancorp, Inc. (NYSE: NYCB) stands as one of the 25 largest bank holding companies in the United States, boasting assets exceeding $48 billion and a market cap surpassing $7 billion. Headquartered in Hicksville, New York, NYCB operates through a network of over 270 branches spread across metro New York, New Jersey, Florida, Arizona, and Ohio, and ranks among the top 25 depositories in the nation.
NYCB's mission is to excel in all aspects for the benefit of customers, communities, employees, and shareholders alike. The company manages its branches under two primary banks: New York Community Bank and New York Commercial Bank, both members of the FDIC. These banks operate through eight local divisions reflecting the company's growth through strategic acquisitions:
- Queens County Savings Bank
- Roslyn Savings Bank
- Richmond County Savings Bank
- Roosevelt Savings Bank
- Garden State Community Bank
- AmTrust Bank
- Ohio Savings Bank
- Atlantic Bank
NYCB competes robustly in diverse markets, offering a comprehensive array of products and services that include online banking, mobile banking, and phone banking. Additionally, the company is a leading producer of multi-family loans in New York City, specializing in rent-regulated, non-luxury apartment buildings.
Recently, NYCB acquired Flagstar Bank, N.A., bolstering its presence with 435 branches and extensive operations across the Northeast, Midwest, Southeast, and West Coast. Flagstar Mortgage, a subsidiary of Flagstar Bank, operates nationally through a wholesale network of roughly 3,000 third-party mortgage originators. The acquisition has positioned NYCB as the second-largest multi-family portfolio lender in the U.S. and has strengthened its foothold in mortgage origination, servicing, and warehouse lending. As of March 31, 2023, NYCB reported assets of $123.8 billion, loans totaling $83.3 billion, deposits of $84.8 billion, and total stockholders' equity of $10.8 billion.
Latest News: NYCB has successfully implemented AFSVision, an advanced lending platform by Automated Financial Systems, Inc. (AFS®), at Flagstar Bank. This strategic move enhances Flagstar's commercial lending capabilities and supports its relationship banking model. AFSVision allows seamless integration with financial institutions' ecosystems and offers digital-enabling capabilities for end-to-end commercial loan processing.
NYCB continues to excel in various national businesses, including multi-family lending, mortgage origination and servicing, and warehouse lending. With a focus on technology and efficiency, the company remains committed to providing exceptional service to its customers and maintaining its strong market positions.
New York Community Bancorp (NYSE: NYCB) announced the acquisition of assets and liabilities from Signature Bridge Bank, completed on March 20, 2023. The transaction includes $34 billion in deposits, $13 billion in loans, and $25 billion in cash, enhancing NYCB's deposit base and reducing reliance on wholesale borrowings. It is projected to increase earnings per share by 20% and tangible book value by 15%. The deal significantly improves the loan-to-deposit ratio from 120% to 88%, positioning NYCB as a stronger full-service commercial bank. Key financial metrics based on pro-forma assumptions include $111 billion in assets and $91 billion in deposits.
Flagstar Bank, a subsidiary of New York Community Bancorp (NYCB), has opened applications for its fourth MortgageTech Accelerator program. This unique initiative focuses on fintech startups innovating in the mortgage sector, with applications due by March 24, 2023. The program offers benefits such as mentorship from industry veterans, access to compliance resources, and real-world testing environments. Flagstar Bank ranks as the eighth largest mortgage originator and sixth largest sub-servicer in the U.S. at the end of 2022, with total assets of $90.1 billion and a strong presence in multi-family lending and mortgage servicing.
New York Community Bancorp, Inc. (NYSE: NYCB) has announced that its 2023 Annual Meeting of Shareholders will take place on June 1st at 10:00 a.m. Eastern Time, via live webcast. The date of record for shareholder voting is set for April 4, 2023, with proxy materials expected to be mailed around April 21st. The Proxy Statement will provide further participation details, which will also be available online at ir.myNYCB.com. As of December 31, 2022, NYCB reported assets of $90.1 billion, loans of $69.0 billion, and deposits of $58.7 billion.
On February 21, 2023, New York Community Bancorp, Inc. (NYSE: NYCB) announced a quarterly cash dividend of $15.94 per share on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A (NYSE: NYCB.PRA), translating to $0.3984 per depositary share. The dividend will be payable on March 17, 2023, to shareholders of record as of March 7, 2023. As of December 31, 2022, the company reported assets of $90.1 billion, loans of $69.0 billion, deposits of $58.7 billion, and total equity of $8.8 billion. New York Community Bancorp operates Flagstar Bank with a significant presence across multiple states.
New York Community Bancorp (NYSE: NYCB) successfully closed its acquisition of Flagstar Bancorp on December 1, 2022, positioning itself among the largest regional banks in the U.S. The transition towards a commercial banking model is in progress, with non-interest-bearing deposits now at 21% and commercial loans at 33%. For Q4 2022, diluted EPS remained stable at $0.30, while net income rose to $164 million, driven by a significant increase in assets to $90.1 billion. However, the company faces challenges in its mortgage operations, necessitating a substantial restructuring, including a 69% reduction in retail lending offices.
New York Community Bancorp, Inc. (NYSE: NYCB) announced on January 24, 2023, a quarterly cash dividend of $0.17 per share on its common stock. This dividend is set to be paid on February 16, 2023, to stockholders of record as of February 6, 2023. The company, headquartered in Hicksville, NY, has substantial assets totaling $88.4 billion, including $66.0 billion in loans and $58.3 billion in deposits as of September 30, 2022. New York Community Bancorp is known for its significant presence in multi-family lending and mortgage origination, reinforcing its position in the banking sector.
New York Community Bancorp (NYSE: NYCB) will release its earnings for the quarter and year ending December 31, 2022, on January 31, 2023, at 7:00 a.m. ET. This will be followed by a conference call at 8:30 a.m. ET with CEO Thomas R. Cangemi and CFO John Pinto to discuss performance. The call will be available for replay until February 4, 2023. As of September 30, 2022, the company reported $88.4 billion in assets, $66.0 billion in loans, and $58.3 billion in deposits.
On December 1, 2022, New York Community Bancorp (NYSE: NYCB) completed its acquisition of Flagstar Bancorp, ranking it among the top 25 regional banks in the U.S. The merger adds $88.4 billion in assets and enhances NYCB's retail and commercial banking capabilities. The combined entity operates under Flagstar Bank, N.A. and features a new Executive Leadership Team and Board of Directors. Approximately 215 million NYCB shares were issued in the merger, increasing total outstanding shares to about 681 million. This strategic move aims to deliver diversified services and improve the overall funding mix.
New York Community Bancorp, Inc. (NYSE: NYCB) has received final regulatory approval from the Federal Reserve Board to complete its acquisition of Flagstar Bancorp, Inc. (NYSE: FBC). This merger will create a regional bank with nearly $90 billion in assets and 395 branches across multiple states, enhancing NYCB's market presence, particularly in high-growth areas. The deal is expected to close on December 1, 2022, subject to customary conditions. Both companies anticipate improved operational efficiencies and customer service capabilities as a result of the merger.
New York Community Bancorp (NYSE: NYCB) has published its inaugural Task Force on Climate-Related Financial Disclosures (TCFD) Report, aiming to enhance awareness around climate risks and opportunities. The report outlines the company's governance structure for environmental oversight, improvements in risk management, and engagement of a third-party vendor to assess greenhouse gas emissions. It also examines the potential impact of New York City's Local Law 97 on its loan portfolio. The bank's assets stand at $63 billion, with loans of $49 billion and deposits of $41.7 billion as of September 30, 2022.
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