3 Things You Need to Know If You Buy New York Community Bancorp Today

New York Community Bancorp (NYSE: NYCB) managed to take the 2023 bank run scare in relative stride. In fact, it even bought parts of Signature Bank, one of the banks that ended up going out of business. But New York Community Bancorp ran into problems as 2024 got underway, with the stock now down around 75% from its 52-week high. If you buy shares of this bank, you need to know these three key facts.One of the biggest problems facing New York Community Bancorp is that it inked two sizable acquisitions in a short period of time. The first was its late-2022 acquisition of Flagstar Bank. That happened right before the 2023 bank runs that upended a few high-profile regional banks.Those bank runs ultimately led to the next big acquisition, which included $34 billion of deposits, $13 billion of loans, and $25 billion of cash from Signature Bank. Signature Bank had been taken over by the FDIC at that point. These two transactions, in and of themselves, are not bad. In fact, they have resulted in New York Community Bancorp becoming a much more important bank.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Zum vollständigen Artikel