New York Community Bancorp plummets 38% and revives financial turbulence. The entity unexpectedly increases provisions for loan defaults in the commercial real estate sector.
In the small banking crisis of 2023, NYCB shares sank to lows of $6.40 due to contagion from Silicon Valley Bank, Signature Bank and First Republic Bank. When the situation stabilized, the entity recovered strongly and seemed one of the winning regional banks of that crisis.. The bank has twice filed additional information with the Securities and Exchange Commission (the SEC)