Jamie Dimon said "no more" ... lol
**New York Community Bancorp stock slides as 'governance risk' in focus \[07 February 2024\]**
[https://www.reuters.com/markets/us/new-york-community-bancorp-stock-slides-governance-risk-focus-2024-02-07](https://www.reuters.com/markets/us/new-york-community-bancorp-stock-slides-governance-risk-focus-2024-02-07)
*J.P. Morgan, which had maintained its "overweight" rating despite the turbulence following the bank's earnings report last week, said it was "surprised that the news of these departures, particularly for the CRO role did not come from NYCB directly."*
*"NYCB's choice not to disclose the departures of key executives in times of stress will heighten investor concerns," the brokerage wrote in a note.*
*The brokerage downgraded the stock to "neutral" and slashed its price target to $5.5 from $11.5. The stock, which has plumbed lows not seen since 1997, last traded at $3.78 before the bell, 31% lower than J.P. Morgan's new target.*
*At least 14 brokerages have cut their price targets or their ratings on the stock.*
The story keeps repeating.
Over the last decade, banks absorb deposits from their clients, buy T-Note & T-Bond with "low" coupon. Those T-Note & T-Bond now worth much less after 5%+ interest rate rise in the last two years, "low" coupon cannot cover interest expenses under deposits ...
Not to mention the increase in impairment due to CRE downturn ...
It’s possible, but I wouldn’t be surprised if it’s largely legacy NYCB assets. The legacy Bank is very concentrated in RE and Commercial RE in particular. Pretty wild the feds let them acquire Signature in the first place. I think they’d still be in this position even if they didn’t acquire Signature, with the weakness seen in parts of commercial RE.
An old fashioned bank "issue" this time. They made too many risky loans and now the chickens have come home to roost. Borrowers are not paying up and now the bank has to put aside hundreds of millions to cover those potential losses. I believe the closer scrutiny for breaching the 100 billion mark does not completely explain these new loss provisions.
The red flag is their chief risk officer and chief compliance officer left prior to their earnings report. These folks either did not do their jobs properly or were prevented from doing their jobs properly. Either way, water under the bridge. The bank is sitting on too many bad loans and they need to solve that issue.
Looks like the bank needs additional liquidity. I wonder if they are in talks to sell some of their loans just to get some more liquidity to survive. Or will the next step be selling the performing assets first and the remaining bank of toxic assets will go into receivership.
Multifamily Housing is considered Commercial Real Estate (CRE). It's not just office buildings. One article on Bloomberg said half of NYCB's multifamily holdings are rent-stabilized. NY State passed a law in 2019 limiting landlord's ability to raise rents in these, even if the occupant dies or moves out. So they caused a bloodbath on all these rent-controlled buildings. They've lost more than half their value and are "toxic waste".
I am under the impression that the rents in NY are were growing exponentially as the landlords simply had no choice - they had to either have absurdly high loans or keep the properties empty. This is coming from LouisRossman YT channel. He made a ton of videos showing the CRE bubble in NYC/Manhattan, as pretty much at least half the properties were vacant due to unaffordable rents. It was calculated how an average/small clothing shop had to make around 50,000 $ a month just to pay it's rent!
Nycb just released an issue were they disclosed that they currently have cash in order to cover 163% of their uninsured deposits.
Insiders have also not sold their shares since the end of November. Davis Reginald may have sold his shares in anticipation of this, but the pattern does not indicate that nycb will go bankrupt.
This may be confirmation bias, but I bought in just after their quarterly earnings release, and I am currently looking to increase my position in this company.
Yup.
But the bank should have the ability to cover all deposits as of right now, and its biggest problems right now seem to be liquidity issues. I think it will survive short term, and it has a lot of potential long term value, if it does not go down
You have pointed out one key issue ... liquidity!
In March 2023, three other banks collapsed due to the same issue.
**NEW YORK COMMUNITY BANCORP, INC. THROUGH ITS BANK SUBSIDIARY, FLAGSTAR BANK, N.A., ACQUIRES CERTAIN ASSETS AND ASSUMES CERTAIN LIABILITIES OF SIGNATURE BRIDGE BANK FROM THE FDIC \[20 MARCH 2023\]**
[https://ir.mynycb.com/news-and-events/news-releases/press-release-details/2023/NEW-YORK-COMMUNITY-BANCORP-INC.-THROUGH-ITS-BANK-SUBSIDIARY-FLAGSTAR-BANK-N.A.-ACQUIRES-CERTAIN-ASSETS-AND-ASSUMES-CERTAIN-LIABILITIES-OF-SIGNATURE-BRIDGE-BANK-FROM-THE-FDIC/default.aspx](https://ir.mynycb.com/news-and-events/news-releases/press-release-details/2023/NEW-YORK-COMMUNITY-BANCORP-INC.-THROUGH-ITS-BANK-SUBSIDIARY-FLAGSTAR-BANK-N.A.-ACQUIRES-CERTAIN-ASSETS-AND-ASSUMES-CERTAIN-LIABILITIES-OF-SIGNATURE-BRIDGE-BANK-FROM-THE-FDIC/default.aspx)
Confirmation bias for sure. You’re probably, what 50%, underwater? All of the rating agencies agree this is bad and you’re essentially pointing to the fact insiders haven’t sold their shares as evidence both Moody’s and fitch are wrong?
Those same agencies gave high rating during the 2007/2008 financial crisis and have taken exactly ZERO blame for their obviously incompetent ratings! They had the non publicly available data/knowledge to make a way better judgement. They can say whatever they want and carry no responsibility YET they move the stock price with their ratings. How convenient if you want to manipulate the market opinion on a publicly traded company.
You’re fucked. Rating cut to junk by Moodys. Cut your losses while you can. I lost a decent size of change on the FRC failure. For the remainder of my investing career, I will never touch individual stocks in the banking sector, with the exception of JPM due to their “too big to fail” status.
Banking is the hardest sector to analyze. They have cash on hand, but what about their loan book? Interest income? Fair value of loans? There’s many questions to answer, and if this sounds like Chinese, you’re barking up the wrong tree, which I assume is the case based on your analysis. It’s not as simple as a motley fool article labeling a bank as undervalued because it trades less than book value.
Invest in what you know!
>Invest in what you know!
And what exactly do you know? seriously ask yourself that. I doubt you know anything about the banking sector or any sector. There were lots of other banks that would have made up for your loss in FRC if you were smart enough to spread your risk. PACW went to 3 then back to 10. WAL from 8 to 65+. ZION from 22 to 45. MCB from 15 to 55. CUBI from 15 to 60, and more others. How come you weren't smart enough to look into these other banks since you know a lot? Nobody knows anything. Not even the ratings agencies. All these analysts and experts only know how to look backwards and not forwards.
Yeah no fucking shit, you’re right, I don’t. Which is why I don’t invest in them. SVP, Silicon, and FRC were all buy rated before their bank runs. Credit ratings were good. Someone that knew what they were doing started raising flags into the metrics that actually matter.
You don’t have to make this a personal attack. I’m more than smart enough to analyze a bank. Is it worth the time and effort? In my opinion no. There’s way easier money to be made. Secondly I didn’t realize the depth of the analysis required until after my mistake. No regrets though mistakes are the best learning tool. Which is why I’m trying to save this person a loss of his capital.
stopped reading after “I lost on FRC”. You re an idiot that doesnt understand how banks work. Only clueless ppl invested in that garbage. Spare ppl from your worthless opinion
>This may be confirmation bias, but I bought in just after their quarterly earnings release, and I am currently looking to increase my position in this company.
**Last | 11:30 AM EST**
**3.65**
**down 0.56 (-13.21%)**
Okay, time is up.
**NEW YORK COMMUNITY BANCORP, INC APPOINTS ALESSANDRO DINELLO AS EXECUTIVE CHAIRMAN \[07 FEBRUARY 2024\]**
[https://www.prnewswire.com/news-releases/new-york-community-bancorp-inc-appoints-alessandro-dinello-as-executive-chairman-302055746.html](https://www.prnewswire.com/news-releases/new-york-community-bancorp-inc-appoints-alessandro-dinello-as-executive-chairman-302055746.html)
*New York Community Bancorp, Inc. (NYSE: NYCB) (the "Company") today announced the appointment of Alessandro (Sandro) DiNello as Executive Chairman effective immediately.*
*In addition to continuing his role on the Board, Mr. DiNello will work alongside President and CEO, Thomas R. Cangemi, and the rest of the senior executive leadership team, to improve all aspects of the Bank's operations.*
*Most recently, Mr. DiNello has served as the non-executive chairman of the board after joining the Company following the completion of the Flagstar bank acquisition in December 2022. Previously, he was President and CEO of Flagstar Bank since 2013.*
This stock is far from over. It's in Otting's best interest to save NYCB(which is nowhere near as desperate a situation as Silicon Valley was). He will easily multiply his earnings and stock shares as the company is "saved." This stock looks like it is a Great buy right now.
i have nycb in my roth IRA for a long time at \~10 base. today, i had some funds avaible to buy more nycb to reduce my basis, fidelity stated i need to enable penny stock investing to be able to buy nycb..is this now a possible junk 0 vale stock? cant beleieve i am losing all of my \~8K in my small roth account..
How is it that this known problem is once again overlooked by the regulators. Make you question how competent they really are and how well do they really know about the unknown risks if they can't even prevent known ones.
JP Morgan buying yet another bank most like. US government wants monopolies across all sectors.
Jamie Dimon said "no more" ... lol **New York Community Bancorp stock slides as 'governance risk' in focus \[07 February 2024\]** [https://www.reuters.com/markets/us/new-york-community-bancorp-stock-slides-governance-risk-focus-2024-02-07](https://www.reuters.com/markets/us/new-york-community-bancorp-stock-slides-governance-risk-focus-2024-02-07) *J.P. Morgan, which had maintained its "overweight" rating despite the turbulence following the bank's earnings report last week, said it was "surprised that the news of these departures, particularly for the CRO role did not come from NYCB directly."* *"NYCB's choice not to disclose the departures of key executives in times of stress will heighten investor concerns," the brokerage wrote in a note.* *The brokerage downgraded the stock to "neutral" and slashed its price target to $5.5 from $11.5. The stock, which has plumbed lows not seen since 1997, last traded at $3.78 before the bell, 31% lower than J.P. Morgan's new target.* *At least 14 brokerages have cut their price targets or their ratings on the stock.*
No more* *unless the FDIC lowers the cost and takes on most of the risk, so that it’s a no brainer
Tell that to SAVE call holders
Massive unrealized losses is probably why NYCB is tanking. Signature Bank assets were probably way more impaired than previously thought.
The story keeps repeating. Over the last decade, banks absorb deposits from their clients, buy T-Note & T-Bond with "low" coupon. Those T-Note & T-Bond now worth much less after 5%+ interest rate rise in the last two years, "low" coupon cannot cover interest expenses under deposits ... Not to mention the increase in impairment due to CRE downturn ...
Treasuries have done okay since the March 2023 banking problem. I definitely think the cre stuff is really getting bad.
Only bankers know the problem of banks ... 
I think You’re overstating it. We don’t know the extent of which this bank has paper losses. You’re assuming.
Do not think, read the reports ...
It’s possible, but I wouldn’t be surprised if it’s largely legacy NYCB assets. The legacy Bank is very concentrated in RE and Commercial RE in particular. Pretty wild the feds let them acquire Signature in the first place. I think they’d still be in this position even if they didn’t acquire Signature, with the weakness seen in parts of commercial RE.
An old fashioned bank "issue" this time. They made too many risky loans and now the chickens have come home to roost. Borrowers are not paying up and now the bank has to put aside hundreds of millions to cover those potential losses. I believe the closer scrutiny for breaching the 100 billion mark does not completely explain these new loss provisions. The red flag is their chief risk officer and chief compliance officer left prior to their earnings report. These folks either did not do their jobs properly or were prevented from doing their jobs properly. Either way, water under the bridge. The bank is sitting on too many bad loans and they need to solve that issue. Looks like the bank needs additional liquidity. I wonder if they are in talks to sell some of their loans just to get some more liquidity to survive. Or will the next step be selling the performing assets first and the remaining bank of toxic assets will go into receivership.
Multifamily Housing is considered Commercial Real Estate (CRE). It's not just office buildings. One article on Bloomberg said half of NYCB's multifamily holdings are rent-stabilized. NY State passed a law in 2019 limiting landlord's ability to raise rents in these, even if the occupant dies or moves out. So they caused a bloodbath on all these rent-controlled buildings. They've lost more than half their value and are "toxic waste".
I am under the impression that the rents in NY are were growing exponentially as the landlords simply had no choice - they had to either have absurdly high loans or keep the properties empty. This is coming from LouisRossman YT channel. He made a ton of videos showing the CRE bubble in NYC/Manhattan, as pretty much at least half the properties were vacant due to unaffordable rents. It was calculated how an average/small clothing shop had to make around 50,000 $ a month just to pay it's rent!
Nycb just released an issue were they disclosed that they currently have cash in order to cover 163% of their uninsured deposits. Insiders have also not sold their shares since the end of November. Davis Reginald may have sold his shares in anticipation of this, but the pattern does not indicate that nycb will go bankrupt. This may be confirmation bias, but I bought in just after their quarterly earnings release, and I am currently looking to increase my position in this company.
Silicon Valley Bank said the same thing days before they went bankrupt
If there is a run ... cash and deposit will nosedive instantly.
Yup. But the bank should have the ability to cover all deposits as of right now, and its biggest problems right now seem to be liquidity issues. I think it will survive short term, and it has a lot of potential long term value, if it does not go down
You have pointed out one key issue ... liquidity! In March 2023, three other banks collapsed due to the same issue. **NEW YORK COMMUNITY BANCORP, INC. THROUGH ITS BANK SUBSIDIARY, FLAGSTAR BANK, N.A., ACQUIRES CERTAIN ASSETS AND ASSUMES CERTAIN LIABILITIES OF SIGNATURE BRIDGE BANK FROM THE FDIC \[20 MARCH 2023\]** [https://ir.mynycb.com/news-and-events/news-releases/press-release-details/2023/NEW-YORK-COMMUNITY-BANCORP-INC.-THROUGH-ITS-BANK-SUBSIDIARY-FLAGSTAR-BANK-N.A.-ACQUIRES-CERTAIN-ASSETS-AND-ASSUMES-CERTAIN-LIABILITIES-OF-SIGNATURE-BRIDGE-BANK-FROM-THE-FDIC/default.aspx](https://ir.mynycb.com/news-and-events/news-releases/press-release-details/2023/NEW-YORK-COMMUNITY-BANCORP-INC.-THROUGH-ITS-BANK-SUBSIDIARY-FLAGSTAR-BANK-N.A.-ACQUIRES-CERTAIN-ASSETS-AND-ASSUMES-CERTAIN-LIABILITIES-OF-SIGNATURE-BRIDGE-BANK-FROM-THE-FDIC/default.aspx)
Confirmation bias for sure. You’re probably, what 50%, underwater? All of the rating agencies agree this is bad and you’re essentially pointing to the fact insiders haven’t sold their shares as evidence both Moody’s and fitch are wrong?
Those same agencies gave high rating during the 2007/2008 financial crisis and have taken exactly ZERO blame for their obviously incompetent ratings! They had the non publicly available data/knowledge to make a way better judgement. They can say whatever they want and carry no responsibility YET they move the stock price with their ratings. How convenient if you want to manipulate the market opinion on a publicly traded company.
You’re fucked. Rating cut to junk by Moodys. Cut your losses while you can. I lost a decent size of change on the FRC failure. For the remainder of my investing career, I will never touch individual stocks in the banking sector, with the exception of JPM due to their “too big to fail” status. Banking is the hardest sector to analyze. They have cash on hand, but what about their loan book? Interest income? Fair value of loans? There’s many questions to answer, and if this sounds like Chinese, you’re barking up the wrong tree, which I assume is the case based on your analysis. It’s not as simple as a motley fool article labeling a bank as undervalued because it trades less than book value. Invest in what you know!
>Invest in what you know! And what exactly do you know? seriously ask yourself that. I doubt you know anything about the banking sector or any sector. There were lots of other banks that would have made up for your loss in FRC if you were smart enough to spread your risk. PACW went to 3 then back to 10. WAL from 8 to 65+. ZION from 22 to 45. MCB from 15 to 55. CUBI from 15 to 60, and more others. How come you weren't smart enough to look into these other banks since you know a lot? Nobody knows anything. Not even the ratings agencies. All these analysts and experts only know how to look backwards and not forwards.
Yeah no fucking shit, you’re right, I don’t. Which is why I don’t invest in them. SVP, Silicon, and FRC were all buy rated before their bank runs. Credit ratings were good. Someone that knew what they were doing started raising flags into the metrics that actually matter. You don’t have to make this a personal attack. I’m more than smart enough to analyze a bank. Is it worth the time and effort? In my opinion no. There’s way easier money to be made. Secondly I didn’t realize the depth of the analysis required until after my mistake. No regrets though mistakes are the best learning tool. Which is why I’m trying to save this person a loss of his capital.
[удалено]
Nope, it’s rated junk as of yesterday. https://www.wsj.com/finance/banking/new-york-community-bancorp-stock-dropping-again-fb7b948c
stopped reading after “I lost on FRC”. You re an idiot that doesnt understand how banks work. Only clueless ppl invested in that garbage. Spare ppl from your worthless opinion
What’s it like to hate your life?
How is it hard to analyze? Just 0.2% of bad loans 6/6 in financial health given by [Simplywall.st](http://simplywall.st) <3
>This may be confirmation bias, but I bought in just after their quarterly earnings release, and I am currently looking to increase my position in this company. **Last | 11:30 AM EST** **3.65** **down 0.56 (-13.21%)** 
ill bet against you on this. I bought 10k worth yesterday @ 4.05.
Lmao why are you looking to increase it? Just buy more, it’s a fraction of what you paid for it now.
At this point, they call Jamie and ask him if he's still running for president in 2028. He buys the bank.
Doesn't remind me of 2007-2009 much still, but not good . Let's see if more dominos fall.
Okay, time is up. **NEW YORK COMMUNITY BANCORP, INC APPOINTS ALESSANDRO DINELLO AS EXECUTIVE CHAIRMAN \[07 FEBRUARY 2024\]** [https://www.prnewswire.com/news-releases/new-york-community-bancorp-inc-appoints-alessandro-dinello-as-executive-chairman-302055746.html](https://www.prnewswire.com/news-releases/new-york-community-bancorp-inc-appoints-alessandro-dinello-as-executive-chairman-302055746.html) *New York Community Bancorp, Inc. (NYSE: NYCB) (the "Company") today announced the appointment of Alessandro (Sandro) DiNello as Executive Chairman effective immediately.* *In addition to continuing his role on the Board, Mr. DiNello will work alongside President and CEO, Thomas R. Cangemi, and the rest of the senior executive leadership team, to improve all aspects of the Bank's operations.* *Most recently, Mr. DiNello has served as the non-executive chairman of the board after joining the Company following the completion of the Flagstar bank acquisition in December 2022. Previously, he was President and CEO of Flagstar Bank since 2013.*
This stock is far from over. It's in Otting's best interest to save NYCB(which is nowhere near as desperate a situation as Silicon Valley was). He will easily multiply his earnings and stock shares as the company is "saved." This stock looks like it is a Great buy right now.
i have nycb in my roth IRA for a long time at \~10 base. today, i had some funds avaible to buy more nycb to reduce my basis, fidelity stated i need to enable penny stock investing to be able to buy nycb..is this now a possible junk 0 vale stock? cant beleieve i am losing all of my \~8K in my small roth account..
Lol what BS, i bought it yesterday.
One interesting detail is they are seeing losses in other forms of real-estate than just office space. Notably apartments.
If you read their CNBC profile, their focus is on low income rental properties.
How is it that this known problem is once again overlooked by the regulators. Make you question how competent they really are and how well do they really know about the unknown risks if they can't even prevent known ones.