In a recent disclosure, New York Community Bancorp (NYCB) revealed a 7% decrease in total deposits, now standing at $77.2 billion compared to the $83 billion reported on Feb. 5. This financial update contributed to a 3.3% decline in NYCB’s shares before the opening bell.
NYCB also outlined strategic initiatives for the year, emphasizing a concerted effort to lower its exposure to commercial real estate. This move comes in the wake of the announcement that the bank successfully raised $1 billion from investors, including Liberty Strategic Capital led by former U.S. Treasury Secretary Steven Mnuchin. Additionally, NYCB appointed a former Comptroller of the Currency as its new CEO in a series of leadership changes unveiled on Wednesday.