“Shares of NYCB falls 25% after bank discloses ‘internal controls’ issue, CEO change”
March 4, 2024
“Shares of New York Community Bancorp fell more than 25% on Friday after the regional lender announced a leadership change and disclosed issues with its internal controls… NYCB has been under pressure in recent months due in part to concerns about its exposure to commercial real estate…”
This bank has a problem; a big problem at that. Commercial real estate is going to go under either this year or the next. At least that’s my opinion on the matter.