2024-05-01 15:20:22 ET
Summary
- New York Community Bancorp, Inc.'s first quarter results were better than feared, with a loss of $.45 on a GAAP basis.
- Deposits and liquidity remain stable, with deposits growing since the end of Q1 and liquidity exceeding uninsured deposits.
- The company's loan book, particularly its office and multifamily portfolio, has undergone a comprehensive review and is expected to out earn worst-case scenarios.
New York Community Bank First Quarter Results:
New York Community Bancorp, Inc. ( NYCB ) reported Q1 results that seemed to miss some "consensus" estimates, but were better than some Draconian fears that had crept into the market recently....
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New York Community Bancorp Q1 Earnings: Better Than Feared