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New York Community Bancorp to acquire Michigan s Flagstar Bancorp in $2 6 billion stock deal

New York Community Bancorp to acquire Michigan s Flagstar Bancorp in $2 6 billion stock deal
newsday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newsday.com Daily Mail and Mail on Sunday newspapers.

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Nation s largest thrift acquires top 20 mortgage lender

Flagstar Bancorp Inc., a top 20 mortgage lender that does business nationwide, is merging with the nation’s largest thrift, New York Community Bancorp Inc., in a $2.6 billion deal will give the combined company nearly 400 branches in nine states. Inman Connect Flagstar Bancorp Inc., a top 20 mortgage lender that does business nationwide, is merging with the nation’s largest thrift, New York Community Bancorp Inc., in a $2.6 billion deal will give the combined company nearly 400 branches in nine states. Thomas R. Cangemi New York Community’s president and CEO, Thomas R. Cangemi will lead the combined company, which will be heaquartered in Long Island, New York. Cangemi called Flagstar “a like-minded partner” that will provide a “diversified revenue stream, an improved funding mix, and leverage our scale and technology, as we transition away from a traditional thrift model.”

New yorkUnited statesQueens countyNew jerseyLong islandFlagstar leem smithThomasr cangemiYork community bankFlagstar bankFreedom mortgage corporationHuntington bancshares incFlagstar bancorp incFinancial corpYork community bancorp incYork communityAmtrust bank

Flagstar Bank in Troy Merges with New York Community Bancorp in $2 6B Deal

DBusiness Magazine Flagstar Bank in Troy Merges with New York Community Bancorp in $2.6B Deal Flagstar Bancorp Inc. in Troy and New York Community Bancorp Inc. jointly announced today they have entered into a definitive merger agreement under which the two companies will combine in an all-stock merger. Flagstar Bancorp Inc. in Troy has entered into a definitive merger agreement under which it will merge with New York Community Bancorp Inc. Pictured is New York Community Bancorp Inc.’s online banking app. // Photo courtesy of New York Community Bancorp Inc. Flagstar Bancorp Inc. in Troy and New York Community Bancorp Inc. jointly announced today they have entered into a definitive merger agreement under which the two companies will combine in an all-stock merger.

New yorkUnited statesQueens countyNew jerseyRichmond countyLong islandLeem smithMeagher flomThomasr cangemiJohn pintoReginald davisRichmond county savings bankFlagstar bancorp incYork community bancorp incYork communityAmtrust bank

New York Community Bancorp, Inc To Acquire Flagstar Bancorp, Inc In An All Stock Strategic Merger

New York Community Bancorp, Inc To Acquire Flagstar Bancorp, Inc In An All Stock Strategic Merger
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New yorkUnited statesQueens countyNew jerseyRichmond countyLong islandSalvatorej dimartinoThomasr cangemiReginald davisKenneth schellenbergLeem smithAlessandro dinelloSusan bergesenJohn pintoYork community or flagstarRichmond county savings bank

New York Community Bancorp, Inc Reports Fourth Quarter And Full-Year 2020 Diluted EPS Of $0 39 And $1 02, On A GAAP Basis; $0 27 And $0 87 On A Non-GAAP Basis

- - - (1) Pre-provision net revenue is a non-GAAP measure, but we believe it is relevant to understanding the Company s financial results in light of the implementation of CECL and the economic impact of COVID-19. New York Community Bancorp, Inc. (NYSE: NYCB) (the Company ) today reported net income for the three months ended December 31, 2020 of $189.7 million, up 64% compared to the $115.8 million we reported for the three months ended September 30, 2020 and up 87% compared to the $101.2 million we reported for the three months ended December 31, 2019. Our fourth quarter and full-year 2020 results were impacted by a $55.3 million and a $68.4 million, respectively, income tax benefit related to the CARES Act. Excluding this benefit, net income on a non-GAAP basis for the three months ended December 31, 2020 was $134.4 million up 16% and 33%, respectively. For the twelve months ended December 31, 2020, net income totaled $511.1 million, up 29% compared to the $395.0 mill

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