“Troubled lender NYCB seeks to reassure investors after stock slide, Moody’s credit downgrade”
February 13, 2024
“New York Community Bancorp (NYCB) is attempting to reassure investors about its deposits, liquidity, and governance following a weeklong plunge in the company’s stock and a decision by Moody’s to cut the bank’s credit rating to junk.
The $116 billion commercial real estate lender put out a press release just before midnight ET on Tuesday following the Moody’s downgrade showing total deposits were up since the end of 2023 and that its total liquidity of $37.3 billion exceeded its level of uninsured deposits…
…Its stock has still fallen by 57% since it surprised Wall Street on Jan. 31 by slashing its dividend and reporting a net quarterly loss of $252 million…”