New York Community Bank (NYCB) has faced significant financial distress, with Moody's downgrading one of its key ratings twice within a month, signaling potential challenges in retaining deposits. Despite these warnings, the bank's stock surged by as much as 19%, recovering from a two-day plummet to its lowest level since 1996. This volatility follows a tumultuous period for NYCB, which has seen its stock value decrease by over 82% YTD, attributed to years of ignored real estate market warnings and regulatory oversights. Amidst this crisis, NYCB is reportedly seeking a cash infusion, having contacted investment firms about a possible equity sale. This move comes as the bank's shares faced extreme volatility, leading to temporary trading halts and a dramatic fall of 45% earlier in the day before closing up more than 7%. The $2 share price was negotiated during the day's trading. The bank's efforts to raise capital include issuing 725 million shares, leading to a capital raise of 1.25 billion, with an additional 300 million warrants at $2.50. The situation has sparked discussions about the stability of regional banks and the potential for further bank failures and bailouts.
So was the Mnuchin deal prearranged at $2? Did they crash the stock to get it down to his price? Weird how it went down $nycb
$NYCB selling off after hours. Maybe people are realizing their shares got diluted so Steve Mnuchin could buy shares at $2 each. $kre
Very rough $NYCB numbers: 725 mm shares goes to 1.25 b on capital raise, with another 300 mm warrants at $2.50. They effectively raised fresh capital at around $1.50 per share (plus or minus, depending on how you value the warrants). Brings tangible book (if you believe the… https://t.co/4nEi0lOlQI
$NYCB made a dramatic attempt to regain confidence today by announcing a new CEO and a $1B infusion. Earlier in the day, the stock fell 45% following a report NYCB was on the hunt for investors willing to buy stock in the company. It closed the day up more than 7%. https://t.co/r0dz9FHjvG
Mnuchin bought shares diluted from other shareholders for $2. Why would you pay $3.50? $NYCB
$NYCB red AH 🚩
$NYCB is doomed. Jim Cramer just blessed it. We all know how this ends. 👇 https://t.co/YtABDbGvnx
Trouble at New York Community Bank spells more bank failures, bailouts @WashTimesOpEd https://t.co/f4kVtZxGyL
Regional lending whiplash: After a plunge in NYCB’s shares drove exchanges to halt trading and observers to speculate about the bank’s possible collapse, a rescue investment buoyed the stock https://t.co/1xEtkbEjIX
According to CNBC's @LesliePicker, the $NYCB $2 share price was negotiated during the day today, after the stock plunged. 👀 👇 https://t.co/QN3FpPtcY0
Shares priced at $2. Who is buying at $3.50? $nycb https://t.co/AityRkPjZF
$2per share womp womp $nycb $kre https://t.co/AityRkPjZF
Opinion | Trouble at New York Community Bank spells more bank failures, bailouts @WashTimesOpEd https://t.co/D0HUJtpTsc https://t.co/zJEsXigfsB
Better make it 2 billion $nycb
here's hoping $1BN in liquidity is enough to save NYCB and there are no bank runs https://t.co/VcdcB09ekt
Same thoughts $nycb https://t.co/TEGJbUtMD9
$NYCB unhalted and already getting dumped hard. $kre
And just like that $NYCB resumes trading — New York Community Bank Magic! https://t.co/ZGyX0cZoCh
Seriously raising 1B$ (who knows if that's true) vs 100B$ in assets = bank out of troubles? Let's find out in upcoming days $NYCB Now a bank run should kick in to withdraw everything from this bank. https://t.co/oAnWQX3Bg0
Down 45%, up 37%, up just 4% = massive intraday swings $NYCB #volatility https://t.co/dj74jU7W0D
Would you buy this? $NYCB https://t.co/KaL3lbABAU
$NYCB JUST JUMPED 100% WITHIN SECONDS THIS ISNT A PENNY STOCK OR A CRYPTO THIS IS A BANK WITH $100 BILLION + IN ASSETS & DEPOSITS https://t.co/AHRdk5Npmx
WTF, down to 1.7, now 4.4 $NYCB https://t.co/koPDvGH4wU
Um $NYCB... you doing ok? https://t.co/akf48DiRD9
$NYCB is now up 30% on the day 😂 https://t.co/1RNExkZx8s https://t.co/fpe90espeI
$NYCB GIGASPIKE
$KRE acting like Mnuchin just solved all subprime banking lol. $nycb
$NYCB reopens up 30% and ...... halted 🤣
Helluva short squeeze in $KRE stocks. $nycb
$KRE is the new $SMCI.
You can't say they didn't warn you... $NYCB #BanksAreZeros https://t.co/z4zCbGh3Nz
$NYCB raise was at $2/share, closing March 11th
More NYCB context • $111 billion in assets • 35th largest US Bank • Shares down 82% YTD/Lowest level since 1995 This is the same bank that acquired Signature during last year's banking crisis, taking on $13 billion in loans https://t.co/Bh7w5SVtzq https://t.co/A1yOra2clD
This could be the kind of news on $NYCB that could set it soaring when trading resumes.
A brief NYCB timeline— January • Reports $252 million Q4 loss • Cites trouble w/multifamily real estate loans February • Replaces CEO • Finds weaknesses in loan oversight • Downgraded by Moody's to junk status Today • Announces it's looking to raise capital • Shares…
As we posted over 4 hours ago: It will be interesting to see what questions get asked about $NYCB ... (to Powell). Now those banks are continuing to sell off hard. Surprised? Well, we're not.
Wealth Advisor: Bitcoin is too volatile, invest in stable companies like banks. 165 year old Bank: https://t.co/JXDLcqQiX5
NYCB continues to struggle. Very difficult to do a capital raise when the value of the CRE portfolio would be very difficult to ascertain given the well documented problems with rent controlled apartments in NYC and offices, and could change dramatically after an exam.
Just an update: $NYCB stock currently down more than 40% on news it needs cash. As noted, they are the parent to Flagstar Bank, one of the nation's largest mortgage lenders (nearly top 10). The company is also a major home loan servicer. https://t.co/zKl6bfO60A https://t.co/ow4Y8m95z0 https://t.co/HgFrKbv1oM
Another reason for the coming rate cuts — New York Community Bancorp Seeks Cash Infusion https://t.co/RgXP0CJJYx
NY Community Bancorp (NYCB)... and loans gone bad, generally speaking. While the idea of a "soft landing" for the U.S. economy (or "no landing") is getting more popular these days, NYCB's flight in this higher-interest-rate era is crashing hard ➡️ https://t.co/GDKUuPLgZm https://t.co/Cl3ctUo1C4
NYCB SINKS 15% ON REPORT IT IS EXPLORING POSSIBLE EQUITY SALE @markets
$NYCB down another (42)% today, on reports it’s trying to raise fresh capital… …Powell may need to accelerate those interest rate cuts!? 👀🤑 https://t.co/b3NeNKD4LJ
Dominic Chu on CNBC saying that when $NYCB breaks below two bucks it opens up the bank to a lot of bidders, even a takeover. @RudyHavenstein @DonutShorts https://t.co/lFWoIgJPZF
NYCB down 42% on the day to $1.86 Puts since $10 and to 20B AUM presented in the last 2 months Ypou missed 1M to 100M in 2 months on my strategies The offer I proposed earlier to all VCs like @marcweill @socialleverage Matt Ober @msymons Thank you for interest
“I don’t invest in crypto it’s so volatile” Meanwhile New York Community Bank $NYCB: https://t.co/JIOdO3Gxiw
the $KRE right now https://t.co/LCt3OO9AXC
Embattled lender NYCB seeks cash infusion, source says https://t.co/zJCjNJzf87 https://t.co/59rnMvTz4h
The Investment Committee react to $NYCB seeking outside capital to shore up its balance sheet. $KRE https://t.co/aFXK8LdaL2
The escalating troubles at #NYCBancorp are no accident and could have been avoided. Regulatory failures made it possible. https://t.co/BNM04qB8uT
$NYCB news could have to do with deposits which they have not updated folks on since February despite all the recent headlines. If so, probably a binary event for a very big move up or down, maybe up.... #volatility
$NYCB news could have to do with deposits, which they have not updated folks on since February despite all the recent headlines. If so, probably a binary event #volatility
Reports that $NYCB is seeking outside capital to shore up its balance sheet. Leslie Picker & @steveliesman join us with the breaking news. https://t.co/yxaieJMAXz
ME TODAY $NYCB https://t.co/j3JdKm3y4V https://t.co/HBVN8ViCpa
Who knows what $NYCB should trade at but isn’t it obvious it would be looking to raise capital? How is that news triggering -45%?
Remember when you were told that investing in an asset like #Bitcoin was risky / volatile (which it is, though a lot less than the past) Well here's a view of your "trusted" financial institution NY Community Bank $NYCB, where investors are about to be completely WIPED out https://t.co/rJzWjbNVwf
Remember when you were told by #FED that investing in an asset like #Bitcoin was risky / volatile (which it is, though a lot less than the past) Well here's a view of your "trusted" financial institution NY Community $NYCB, where investors are about to be completely WIPED out https://t.co/FT7ruRb2Zz
$NYCB lolz Didn't someone come on CNBC as a buyer of it when it first tanked to like $6? If you do not pay attention to option flows...you are going to look foolish https://t.co/uBiLuckgTJ
$NYCB EXTENDS DECLINE TO 31% AFTER RESUMING TRADING
NYCB Crashes To Fresh 28 Year Highs On Report Of Need For 'Cash Infusion' https://t.co/yWPZ2TaSlE
$KRE sudden collapse options going wild
NYCB Is Contacting Investment Firms on Potential Emergency Equity Sale Call Jamie
*NYCB HAS CONTACTED INVESTMENT FIRMS ON POSSIBLE EQUITY SALE:WSJ *NYCB EXTENDS DECLINE AFTER WSJ REPORT; SHARES DOWN 9%
$NYCB Paused due to volatility
NYCB's stock has erased more than 70% of its value this year. The story of how the regional lender got to this point shows years of missed warning signs https://t.co/nfwir2G731
Trouble at New York Community Bank spells more bank failures, bailouts https://t.co/wkCgTRYz5P
Quite the day from Banks $KRE $KBE
New York Community Bank just took another beating. @BruceC_Inc https://t.co/c47CeO1lTO
$NYCB's stock has erased more than 70% of its value this year. The story of how the regional lender got to this point shows years of missed warning signs. https://t.co/yYyLg85VeY by @maxabelson
$NYCB Stock Dive: Bank Ballooned Despite Real Estate Market Warnings https://t.co/RsDi8sRglq "Indeed, NYCB was a stock-market darling before it announced plans in late January to horde cash." Uh, no. It had ~0% total returns over the prior ten years. Good story detailing failure
Shares of NYCB surged as much as 19%, paring a two-day rout that took the stock to the lowest level since 1996 https://t.co/uZHs00C85t
Post-Silicon Valley Bank, regulators are still not aggressive enough to prevent bank collapses https://t.co/o1bvLUZnDM
New York Community Bank grew fast, very fast. Now the bank is in serious trouble. Bloomberg's Max Abelson reports https://t.co/wgWcZcZ1MO https://t.co/p1qv2LQebi
New York Community Bancorp Was JPMorgan’s Top Regional Bank Pick for 2024; It’s Lost 73 Percent Y-T-D and Had Its Deposit Rating Downgraded to Junk https://t.co/QpG2OHwhBa
NYCB's stock has erased more than 70% of its value this year. The story of how the regional lender got to this point shows years of missed warning signs. Read The Big Take ⬇️ https://t.co/1SQ8HGX34L
New York Community Bancorp bounces back today after shedding nearly 50% over the last two sessions as discussed yesterday before the close $NYBB $KRE https://t.co/6hyUZxtsbh
New York Community Bancorp bounces back today after shedding nearly 50% over the last two sessions as discussed yest before the close $NYBB $KRE https://t.co/MDaJS3oGCb
Regulators didn’t do their job. If SVB was an @USOCC OCC bank that wouldn’t have happened — @PNCBank CEO Demchak making clear the @federalreserve failed as SVB supervisor, and that there’s regulatory arbitrage and charter shopping. @BrookingsEcon #BankFail getting spicy!
NEW: NYCB's stock has erased more than 70% of its value this year. The story of how the regional lender got to this point shows years of missed warning signs. Read The Big Take ⬇️ https://t.co/PJKQyAA2JA
This is a great read from @maxabelson on the history of New York Community Bancorp https://t.co/uHKSIqilEM
$NYCB (+2.2% pre) Some NYCB deposits may be a flight risk after Moody’s downgrades ratings again - CNBC https://t.co/vkUJO7Ciwc
$NYCB (+2.2% pre) NYCB Ballooned Despite Real Estate Warnings in Years Before Fall - BBG https://t.co/wQQHsP4hiG
Moody’s slashed one of New York Community Bank’s key ratings for the second time in a month, which means the regional lender might have to pay more to retain deposits https://t.co/bQflUnfWKn