The lender reported a surprise fourth-quarter loss after building bigger provisions for potential loan defaults, primarily because of its CRE exposure. New York Community Bancorp's reported total assets of $116.3 billion and total deposits of $81.4 billion at the end of 2023. The lender's commercial loans - which include commercial real estate and acquisition as well as development and construction loans - were $13.35 billion, or nearly 16% of its total loans.
New York Community Bancorp on
Wednesday pledged to reduce its exposure in the troubled
commercial real estate sector, attempting to reassure
investors who have dumped the stock since its earnings.
(Reuters) - New York Community Bancorp on Wednesday pledged to reduce its exposure in the troubled commercial real estate (CRE) sector, attempting to .
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