New York Community Bancorp Inc (NYSE:NYCB) shares are experiencing heavy volatility after the company provided a liquidity and deposit update and appointed a new executive chairman. Several new developments appear to be moving the stock on Wednesday.
Nearly a year ago, New York Community Bank waded into the regional bank crisis, buying up assets in failed Signature Bank, helping secure a spot in the list of banks with over $100 billion in assets. The surprise loss drove down other regional bank shares, dragging the KBW regional index down 6%, as it reignited concerns over the health of smaller lenders some of which are still recovering from bank failures in the U.S. last year. Here are key facts about NYCB.