SQLV - Why Is New York Community Bancorp Stock Higher Premarket Wednesday? | Benzinga
New York Community Bancorp, Inc. (NYSE:NYCB) shares are trading higher after it agreed to sell around $5 billion in mortgage warehouse loans to JPMorgan Chase Bank, N.A. of JPMorgan Chase & Co. (NYSE:JPM).
After the deal closes, the company projects that the transaction will add 65 basis points to the CET1 capital ratio, resulting in a pro-forma CET1 capital ratio of 10.8% as of March-end.
The New York Community expects to reinvest sale proceeds into cash and securities. On a pro-forma basis, the ratio of cash and securities to total assets is projected to improve to ...