NYCB Investors Await New CEO’s Vision as Credit Questions Linger
- Bank is set to report earnings after a tumultuous three months
- It has changed CEOs twice and gotten a $1 billion injection
The New York Community Bank headquarters in Hicksville, New York.
Photographer: Bing Guan/BloombergNew York Community Bancorp Inc. has had one of the most tumultuous quarters in recent banking history. Its first-quarter earnings will probably reveal more about impacts from the drama — and management’s plan to move forward.
Over the past three months, the Hicksville, New York-based lender has replaced its chief executive officer twice, been hit by credit downgrades and ultimately landed a massive capital infusion that brought with it new investors and board members. When NYCB reports earnings, expected next week, analysts will be eager to know how the bank’s new leaders can mend the credit concerns and lapses that have hobbled the firm, and ultimately shape it into an institution more like its regional-banking peers.