{"id":3827,"date":"2024-03-06T12:14:34","date_gmt":"2024-03-06T17:14:34","guid":{"rendered":"https:\/\/www.profitless.com\/?p=3827"},"modified":"2024-03-06T12:36:27","modified_gmt":"2024-03-06T17:36:27","slug":"nycb-stock-tanks-after-wsj-report","status":"publish","type":"post","link":"https:\/\/www.profitless.com\/?p=3827","title":{"rendered":"NYCB stock tanks after WSJ report"},"content":{"rendered":"\n<p><a href=\"https:\/\/www.wsj.com\/finance\/new-york-community-bancorp-seeks-cash-infusion-6e4c0083?reflink=e2twmkts\" target=\"_blank\" rel=\"noreferrer noopener\">The WSJ is reporting<\/a> that New York Community Bancorp (NYCB) is on a desperate quest for equity capital as it battles to regain investor confidence amidst a backdrop of escalating troubles. The once-reliable regional bank is now grappling with a mix of challenges, including real-estate loan losses, and a drastic 70% fall in its stock price since January.<\/p>\n\n\n\n<p>The crisis at NYCB took center stage when it acknowledged problems in its commercial real-estate portfolio earlier this year, resulting in a fourth-quarter loss and a dividend cut. Matters worsened last week as the bank disclosed &#8220;material weaknesses&#8221; in its loan assessment and monitoring processes, prompting a series of credit downgrades and a new Executive Chairman, Thomas Cangemi.<\/p>\n\n\n\n<p><a href=\"https:\/\/finance.yahoo.com\/quote\/NYCB?.tsrc=fin-srch\" data-type=\"link\" data-id=\"https:\/\/finance.yahoo.com\/quote\/NYCB?.tsrc=fin-srch\" target=\"_blank\" rel=\"noreferrer noopener\">The stock is down another 45% today<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The WSJ is reporting that New York Community Bancorp (NYCB) is on a desperate quest for equity capital as it battles to regain investor confidence amidst a backdrop of escalating troubles. The once-reliable regional bank is now grappling with a mix of challenges, including real-estate loan losses, and a drastic 70% fall in its stock [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"footnotes":""},"categories":[91],"tags":[94],"class_list":{"0":"post-3827","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-debt","7":"tag-nycb"},"acf":{"sources":null},"_links":{"self":[{"href":"https:\/\/www.profitless.com\/index.php?rest_route=\/wp\/v2\/posts\/3827","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.profitless.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.profitless.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.profitless.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.profitless.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3827"}],"version-history":[{"count":2,"href":"https:\/\/www.profitless.com\/index.php?rest_route=\/wp\/v2\/posts\/3827\/revisions"}],"predecessor-version":[{"id":3829,"href":"https:\/\/www.profitless.com\/index.php?rest_route=\/wp\/v2\/posts\/3827\/revisions\/3829"}],"wp:attachment":[{"href":"https:\/\/www.profitless.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.profitless.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.profitless.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}