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Flagstar Bank — - 1 stoking - 1 — - 1 stoked - 1 NYCB - 1 Banks - 1 Moody's - 1 Wall - 1
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Flagstar Bank - 2 Signature Bank - 2 New York Community Bank pounced - 1 Community Bancorp - 1 Service - 1 New York Community Bancorp - 1 Valley Bank - 1 Silvergate - 1

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3 mentions found


☆ Big Dreams Come Back to Bite New York Community Bank
  + stars: | 2024-02-08 | by ( Rob Copeland | Emily Flitter | ) www.nytimes.com   time to read: +1 min
During last spring’s banking crisis, when a competing lender went under, New York Community Bank pounced, acquiring a big chunk of its business. The pain stems largely from a weakening commercial real estate market that impelled NYCB — which operates more than 400 branches under brands including Flagstar Bank — to admit to mounting losses. After the bank rushed to project stability, including by releasing a new set of financial disclosures on Tuesday evening that one analyst termed a “late night news dump,” shares rose 7 percent on Wednesday. Whether its efforts will stick is an open question. NYCB executives, who just a week ago had been tight-lipped about the bank’s finances, opened up the books on Wednesday and laid out turnaround plans on a public conference call.
Persons: Flagstar Bank — Organizations: New York Community Bank pounced, Flagstar Bank, Signature Bank
☆ NYCB's slide sparks fears of more banking and commercial real estate turmoil
  + stars: | 2024-02-07 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +5 min
The regional bank reported disappointing earnings, stoking fears of commercial real estate trouble. AdvertisementA smaller lender is facing a firesale of its stock fueled by concerns about its stability, echoing the regional-banking problems last year that stoked fears of a full-blown financial crisis and commercial real estate meltdown. AdvertisementThe increases hit the value of their fixed-income and commercial real estate portfolios. In particular, commercial real estate is under pressure from ongoing remote working, tighter credit availability as lenders have pulled back, and higher debt costs, all of which have weighed on asset values. Treasury Secretary Janet Yellen told lawmakers this week she expects the commercial real estate pressures to "put a loss of stress" on property owners, although she expected it to be manageable, Bloomberg reported.
Persons: stoking, —, stoked, NYCB, Banks, Moody's, Wall, Thomas Cangemi, pare, Janet Yellen Organizations: Community Bancorp, Service, New York Community Bancorp, Flagstar Bank, Signature Bank, Valley Bank, Silvergate, Bloomberg, Federal
☆ Live updates: Credit Suisse-UBS deal and global stock market news
  + stars: | 2023-03-20 | by ( Aditi Sangal | ) edition.cnn.com   time to read: +1 min
A week after Signature Bank failed, the Federal Deposit Insurance Corporation said it has sold most of its deposits to Flagstar Bank — a subsidiary of New York Community Bank. New York Community Bank bought substantially all of Signature’s deposits and a total of $38.4 billion worth of the company’s assets. That includes $12.9 billion of Signature’s loans, which New York Community Bank purchased at a steep discount — it paid just $2.7 billion for them. New York Community Bank also paid the FDIC stock that could be worth up to $300 million. That’s likely why New York Community Bank was unwilling to take on all of Signature’s assets.
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