New York Community Bancorp, Inc. : To Report Second Quarter 2018 Earnings And Host Conference Call On July 25th
New York Community Bancorp, Inc. (NYSE: NYCB) announced it will release its second quarter 2018 earnings on Wednesday, July 25, 2018, at approximately 7:00 a.m. Eastern Time. Following the release, the company will host a conference call and webcast at 8:30 a.m. ET to discuss its performance. The webcast will be archived until August 22, 2018.
New York Community Bancorp Experiences Revision in Stock Evaluation Amid Market Dynamics - Markets Mojo
New York Community Bancorp's stock has undergone a revision in evaluation, with its price currently at $11.38. The company has shown significant volatility in its trading range over the past year, outperforming the S&P 500 year-to-date but struggling in shorter time frames. Technical indicators present a mixed picture, with some suggesting bullish sentiment while others indicate bearish trends.
$5M flagged transfer led to firing, LI bank exec says
A former executive of Long Island-based New York Community Bancorp Inc., Ross Marrazzo, has filed a federal lawsuit claiming he was wrongfully terminated for investigating suspicious financial activities involving bank director Alessandro “Sandro” DiNello. Marrazzo alleges that DiNello engaged in a $5 million transfer without proper documentation, interfered in a money laundering probe, and conducted an inappropriate business meeting. The lawsuit seeks reinstatement, back pay, and damages for Marrazzo, while DiNello and Flagstar Bank (NYCB's new name) have not yet responded to requests for comment.
Ex-Flagstar CEO accused of illegal conduct
Former Flagstar CEO Alessandro DiNello is facing a lawsuit from the bank's ex-enterprise chief compliance officer, Ross Marrazzo, alleging DiNello was aware of client money laundering and discussed sensitive information inappropriately. Marrazzo claims he was terminated to obstruct his investigation into these matters and other ethical concerns, including a controversial incident where DiNello allegedly had a "junior employee sitting on his lap" during a confidential video conference. The lawsuit seeks employment reinstatement and financial compensation for Marrazzo.
Flagstar Financial (NYSE:FLG) Misses Q2 Sales Targets
Flagstar Financial (NYSE:FLG) reported Q2 CY2025 results, missing Wall Street's revenue expectations with a 26.1% year-on-year sales decline to $496 million. Despite a non-GAAP loss of $0.14 per share, CEO Joseph M. Otting highlighted progress in transforming the bank, aiming for profitability by Q4 of this year. The company's tangible book value per share continued to decline, indicating ongoing challenges in its balance sheet strength.
Fintech giant Green Dot attracts private equity interest despite sluggish deal climate
Despite a sluggish deal climate, fintech company Green Dot, known for its prepaid debit cards, is attracting significant interest from private equity firms in its sale process. The sale is complicated by Green Dot owning a bank, which necessitates the formation of PE consortia to comply with federal law prohibiting PE firms from owning more than 24.9% of a bank, potentially leading to the company being sold in parts. Green Dot announced in March that it was exploring strategic alternatives, leading to a jump in its stock price and revealing its major reliance on Apple and Walmart for a significant portion of its revenue.
Flagstar plans to hire 80 to 90 more commercial bankers this year
Flagstar Bank intends to hire 80 to 90 additional commercial bankers this year as part of its ongoing efforts to build its commercial and industrial business and achieve profitability by the fourth quarter. CEO Joseph Otting detailed these plans during the bank's first-quarter earnings call, despite reporting another quarterly loss of $100 million. The bank, formerly New York Community Bank, is also focusing on balancing its portfolio, reducing commercial real estate exposure, and is undergoing significant cost-cutting measures, including branch closures, while simultaneously investing in hiring and technology upgrades.
Woman alleges New York bank rolled her money into a ‘zombie CD’
A Florida woman is suing Flagstar Bank, alleging that after her 14-month CD matured, the bank unilaterally transferred her $51,000 into a new "zombie CD" paying a mere 0.02% interest until 2044. The lawsuit claims breach of contract and unjust enrichment, as the original agreement stipulated funds would move to an interest-bearing savings account if not renewed. The plaintiff's lawyer suggests this might be a systemic practice and is seeking other individuals who had similar experiences with Flagstar Bank or its predecessors.
NYCB to keep HQ on Long Island, unify brands under Flagstar name after $2.6B merger
New York Community Bancorp (NYCB) will maintain its Hicksville headquarters and rebrand all 10 of its banking labels under the Flagstar name following its $2.6 billion merger with Flagstar Bancorp. This merger creates a financial institution with approximately $90 billion in assets, making it the 24th largest U.S. bank. The unification of brands reverses NYCB's previous strategy of retaining local brands post-acquisition.
New York Community Bancorp Completes Acquisition of Flagstar Bancorp
New York Community Bancorp, Inc. (NYCB) announced the completion of its acquisition of Flagstar Bancorp, Inc., creating a regional banking franchise among the top 25 in the U.S. The combined entity will have $88.4 billion in assets, $66.0 billion in loans, and $58.3 billion in deposits on a proforma basis as of September 30, 2022. This merger aims to diversify revenue, improve funding mix, and enhance the interest-rate risk profile, while also expanding the retail banking network and national lending businesses.
$2.6B New York Community-Flagstar deal closes
The $2.6 billion acquisition of Flagstar Bank by New York Community Bancorp Inc. has officially closed after nearly two years in the making, following regulatory approvals. The combined entity creates a top 25 bank in the U.S. with approximately $88.4 billion in assets, featuring a diversified loan portfolio and enhanced risk profile. Flagstar's former president and CEO, Alessandro DiNello, will serve as non-executive chairman of the board, and several Flagstar executives have joined the merged bank's leadership.
New York Community Bancorp Appoints Julie Signorille-Browne as EVP
New York Community Bancorp, Inc. announced the appointment of Julie Signorille-Browne as Executive Vice President and Chief Administrative Officer, effective September 7, 2021. Ms. Signorille-Browne brings over 30 years of experience in various banking operations roles and will play a key role in the company's strategic initiatives and integration efforts following its merger with Flagstar. She previously served as EVP and COO of the consumer bank at Citizens Financial Group.
New York Community Bancorp To Acquire Flagstar Bancorp In An All Stock Strategic Merger
New York Community Bancorp (NYCB) and Flagstar Bancorp (FBC) announced an all-stock merger where Flagstar shareholders will receive 4.0151 shares of NYCB common stock for each Flagstar share. The transaction, valued at approximately $2.6 billion, will create a company with over $87 billion in assets and aims to accelerate NYCB's transition to a full-service commercial bank. Expected to close by the end of 2021, the merger is anticipated to be accretive to NYCB's earnings per share and tangible book value per share.
Flagstar acquisition to cost Detroit area another bank headquarters
New York Community Bancorp is acquiring Troy-based Flagstar Bancorp Inc. in an all-stock deal valued at $2.54 billion, leading to the loss of another bank headquarters for the Detroit area. This follows a trend of regional bank mergers driven by low interest rates and technology spending needs, with Flagstar assuring its continued local commitments despite the headquarters relocation to Long Island. Local officials express hope that Flagstar will maintain a significant presence in Troy.
New York Community Bank to buy Flagstar in $2.6B all-stock deal
New York Community Bank (NYCB) announced an all-stock deal to acquire Flagstar Bank for $2.6 billion, creating a combined entity with over $87 billion in assets and nearly 400 branches. NYCB shareholders will own 68% of the combined company, with the deal aiming to diversify revenue streams, improve funding mix, and expand geographic reach. The merger is expected to generate $500 million annually in additional capital and $125 million in annual cost savings.
Flagstar acquisition by NY bank builds muscle outside of fickle mortgage sector
New York Community Bancorp is acquiring Flagstar Bancorp in a $2.6 billion all-stock deal. This acquisition will diversify NYCB beyond its traditional savings and loan model into a commercial banking organization, while allowing Flagstar to reduce its reliance on the cyclical mortgage industry. The combined entity will have approximately $87 billion in assets, comparable to Comerica Inc., and expects to generate $500 million in excess capital annually.
Longtime New York Community Bancorp CEO abruptly steps down
Joe Ficalora, the CEO of New York Community Bancorp for decades, abruptly stepped down after a 55-year career, being succeeded by CFO Thomas Cangemi. This unexpected departure signals potential changes at the institution, which has historically focused on lending to owners of rent-regulated apartments. Analysts anticipate the bank may diversify its business model and possibly acquire another bank within the next 18 months, with HSBC's U.S. retail business being a likely target.
Clipper Equity’s Flatbush Gardens Lands $329M Refi
Clipper Equity has secured a $329 million refinancing package from New York Community Bank for its 2,498-unit affordable housing property, Flatbush Gardens, in Brooklyn. This 12-year loan replaces a previous $246 million mortgage and provides an additional $83 million in capital to the owner, bearing an interest rate of 3.13 percent with interest-only payments for the initial seven years. The property, acquired in 2005 for $138.2 million, is one of Brooklyn's largest affordable housing assets, continuing to serve the community amidst ongoing affordability concerns.
New York Community Bank doubles down on multifamily lending
New York Community Bank (NYCB) is reaffirming its commitment to multifamily lending, especially for rent-regulated buildings, despite recent changes to New York's rent laws. CEO Joseph Ficalora stated that 50% ($18.7 billion) of their multifamily portfolio is subject to the Housing Stability and Tenant Protection Act, but the bank is not seeing negative asset-quality trends. NYCB emphasizes this is its core business model and is even repurchasing multifamily mortgages, while some institutions look to divest.
Samson lands $109M refi for Fifth Avenue office building
Samson Management and Rabina Properties secured a $109 million refinancing loan from New York Community Bank for their 19th-century office building at 110 Fifth Avenue in the Flatiron District. The financing package includes $14.7 million in new debt, replacing a prior $100 million debt package from the same lender in 2014. The 176,000-square-foot building, known as the Judge Building, was acquired by Samson and Rabina in 1996.
Joseph Ficalora, the Queens Boy at the Top of the Bank: An Italian-American Dream
Joseph Ficalora, President, CEO, and Director of New York Community Bancorp Inc., shares his life story, tracing his roots from a Sicilian immigrant family to leading a major bank. The article highlights how his Italian-American upbringing and values shaped his success, despite facing prejudice. It also touches upon his military service during the Vietnam War and his views on Italian-American identity and the challenges faced by the community.
Flagstar Mortgage Review: Tons of Loan Programs to Choose From
This article reviews Flagstar Mortgage, highlighting its extensive range of loan programs and its recent acquisition by New York Community Bancorp in April 2021. While Flagstar offers a comprehensive portfolio of mortgage products, including conventional, government, jumbo, and specialized "Professional Loan" options, its online technology could be improved. The review suggests Flagstar as a strong contender for borrowers seeking variety and human interaction despite potentially average interest rates compared to competitors.
Here's a look at which Cleveland-area banks are the strongest
Ohio Savings Bank has achieved a five-star financial strength rating, increasing the number of top-rated banks in Cleveland to nine out of fourteen. The article details the ratings of various Cleveland-area banks, highlighting those with five-star (superior) and four-star (excellent) ratings based on Bauer Financial's analysis of profits, loan quality, liquidity, and capital. It also discusses the changes in the banking landscape since the 2008 economic crisis, including mergers and acquisitions, and lists the historical and current ratings for numerous banks.
Man Arrested For Robbing Smithtown Bank At Gunpoint
A Port Jefferson Station man, Maximilian Beres, 29, was arrested for robbing a New York Community Bank in Smithtown at gunpoint. The robbery occurred on Thursday afternoon, where the suspect demanded cash from a teller and then fled to a waiting car, subsequently being apprehended by police. He is scheduled to be arraigned on Friday, charged with first-degree robbery.
New York Community Bancorp announces proposed offering of depositary shares
New York Community Bancorp Inc. announced a proposed offering of depositary shares. These shares will represent ownership interests in non-cumulative perpetual preferred stock. The announcement was made on March 6, 2017.
The commercial real estate media source.
A group of investors led by Isaac Kassirer of Emerald Equities, along with Harbor Group International and York Equities, recently acquired a 38-building multifamily portfolio in the Bronx for $140 million. The portfolio comprises 935 rent-stabilized units and 24 retail spaces, with the transaction closing on March 1st. The buyers secured a $105 million acquisition loan from New York Community Bank for the deal.
Executive compensation: The top paid Long Island execs in 2014
The 15 highest-paid executives at Long Island's public companies collectively earned over $230 million in 2014 compensation. James Dolan of Cablevision topped the list with over $23.7 million, followed by other executives from Cablevision, New York Community Bancorp, Hain Celestial Group, Verint Systems, and Pall Corp., among others. The article details the compensation for each of these top executives.
NYCB Lends on 1770 Grand Concourse in the Bronx
New York Community Bank provided a $27.4 million loan to Goldfarb Properties for their recently acquired rental building at 1770 Grand Concourse in the Bronx. Goldfarb Properties purchased the mixed-use property for $27.8 million and plans to reposition it into an upscale apartment building by spring 2015. The loan includes a standard provision for an interest rate hike if financial information is not submitted as required.
New York Community Bancorp Q4 12 Earnings Conference Call At 9:30 AM ET
New York Community Bancorp Inc. (NYCB) is scheduled to host a conference call on January 30, 2013, at 9:30 AM ET to discuss its Q4 2012 earnings results. Investors can access the live webcast via ir.myNYCB.com or dial in using provided phone numbers and an access code. A replay of the call will also be available afterward.
Queens Botanical Garden Welcomes New Board Members
The Queens Botanical Garden has announced the addition of three new members to its Board of Trustees: Julia Ermish, Lucy Hossain, and Frank Santoro. These new board members bring diverse backgrounds and experiences in community service, banking, and law. They will oversee the Garden’s operations, property, and finances during their three-year terms.
If you want an ATM-only card, and not a debit card, you can get one from most Cleveland-area banks
This article addresses common financial questions, starting with where to obtain ATM-only cards in the Cleveland area, as some banks are discontinuing them. It also clarifies why insurance companies require homeowners to insure for replacement cost rather than market value. Finally, it offers advice on establishing credit to secure a loan for purchasing a family home.
Queens Library To Honor Two At Annual Gala
The Queens Library Foundation will host its Annual Gala on October 22 to honor Dominick Ciampa, Chairman of New York Community Bancorp, and Ken Daly, President of National Grid New York. Proceeds from the gala will support the Futures Fund, which ensures the availability of library materials and educational resources for children in Queens. The event also highlights the honorees' significant community involvement and contributions.
First Phase Of Corona Plaza Renovation Complete
The first phase of the Corona Plaza renovation, transforming it into a pedestrian plaza at 103rd Street and Roosevelt Avenue, is complete. This initial phase brought seating, tables, umbrellas, bicycle racks, and greenery, making it a new public space for relaxation and community activities. Future plans include more improvements based on community input, such as permanent street furniture and a water fountain.
Banker Daniel L. Murphy dies at 52
Daniel L. Murphy, founder and chief executive of Madison National Bancorp, died Sunday at 52 after a battle with cancer. Murphy, a prominent banker and civic leader, co-founded Madison National Bancorp in 2007, which is awaiting a $33.7 million takeover by FNBNY Bancorp Inc. He was also a former chairman of the Molloy College board and a significant philanthropist.
Ensler Appointed To Board Of Trustees
Laura Ensler has been appointed to the Board of Trustees of Queens Library by Mayor Michael Bloomberg, bringing extensive experience in education and library stewardship. Her appointment is seen as a significant asset to the library, complementing its mission to enrich lives with her valuable skills and commitment to free public information and education. Ensler has a distinguished background, including a role as Trustee and Vice Chair of the Board of Brooklyn Public Library and various advisory positions in early care and education.
New York Community Bank subsidiary pays $13.1 million for Ohio Savings Plaza in Cleveland
A subsidiary of New York Community Bank has purchased the Ohio Savings Plaza building in downtown Cleveland for $13.1 million from the FDIC. This property was the former headquarters of AmTrust Bank, which failed in 2009 and was subsequently taken over by New York Community Bank. The bank, which renamed the local AmTrust branches to Ohio Savings, had expressed interest in acquiring the building since it was put on the market.
Staten Island Children's Museum given $37.5K for work
The Staten Island Children's Museum received a $37,500 grant from the Richmond County Savings Foundation to improve accessibility for children with disabilities. Additionally, the New York Metropolitan Division of Kiwanis donated $10,000 to Staten Island University Hospital for its Pediatric Trauma Center, and $26,000 was given to the Staten Island Museum by various organizations to support its Teen Environmental Club. These donations aim to enhance community programs and facilities across Staten Island.
Former Amtrust Bank headquarters in downtown Cleveland put up for sale
The federal government has put the former AmTrust Bank headquarters in downtown Cleveland up for sale, following the bank's seizure by federal regulators a year prior. New York Community Bank, which acquired AmTrust, is now attempting to purchase the 18-story office building, renamed as the Ohio Savings Plaza, from the FDIC. The building, valued at $22.5 million, is 88 percent leased, with Ohio Savings occupying approximately 100,000 square feet.
Interview: NYCB CFO Thomas Cangemi on private-label mortgages and thrift banks
New York Community Bancorp (NYCB) CFO Thomas Cangemi discusses the state of the thrift bank industry and private-label mortgages. He highlights the lack of a strong securitization market for private-label mortgages, making it difficult for banks to carry long-term jumbo loans on their balance sheets. Cangemi also discusses loan demand, the role of regulators, and the anticipated consolidation within the banking industry, particularly for small banks.
Robert Vallebuona, Robin Rossiter are married
Robin Rossiter and Robert Vallebuona of Graniteville exchanged marriage vows on November 6th in Our Lady Star of the Sea R.C. Church, Huguenot, officiated by Monsignor Jeffrey Conway. A reception followed in The Manor, West Orange, N.J., and the newlyweds will reside in Graniteville after a honeymoon to Aruba. The article details their parents, wedding party, and professional backgrounds.
