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New York Community Bancorp shares plummet amid unease over regional banking

TheGuardian

Alessandro DiNello, new executive chairman of regional US lender, acknowledges ‘serious situation’ as stock at lowest level in decades Shares in New York Community Bancorp (NYCB) continued to fall on Wednesday, heightening unease about the US’s regional banking sector.

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KPMG faces fresh questions over audits after New York Community turmoil

American Banker

The auditing giant KPMG audited the three regional banks that failed last year. New York Community's recent disclosures that it had financial reporting weaknesses in 2023 raises new questions over the auditors' role.

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New York Community's troubles are putting a stigma on fast growth

American Banker

Like the three regional banks that failed last spring, New York Community grew quickly over a short period of time. One analyst said there's now "permanent damage" to the "investor psyche around growth banks."

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New York To Sunbelt State Tourists: Stay Home

PYMNTS

With coronavirus infection rates soaring in the Sunbelt, the governors of New York, Connecticut and New Jersey are teaming up to slap a 14-day quarantine on travelers from states where the deadly virus is spiking. New York Gov. Andrew Cuomo, New Jersey Gov. Phil Murphy and Connecticut Gov.

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New York Community: Growing pains, strategy miss, or both?

American Banker

A day after the regional bank's stock tumbled on tough fourth-quarter results and some austerity moves, observers debated whether management just needs time to build enough capital to catch up with growth or if it is still too overexposed in multifamily lending.

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Concerns about New York Community mount after chief risk officer's exit

American Banker

The regional bank's stock price again fell by double digits on Tuesday, marking the fourth daily decline of at least 10% in the last week. The latest shoe to drop was the news that Chief Risk Officer Nicholas Munson left the company early this year.

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New York Community moves to calm investors' nerves. Will it be enough?

American Banker

The regional bank announced a leadership shakeup on Wednesday, capping a tumultuous week in which shareholders became spooked about its exposure to the commercial real estate sector.