NYCB in Crisis: CEO Exits, Loss Balloons, and Stock Plummets

New York Community Bancorp (NYCB) faces turmoil as CEO Thomas Cangemi exits, and the bank's fourth-quarter loss balloons to $2.7 billion due to a $2.4 billion goodwill impairment charge. The bank also disclosed weaknesses in its internal controls and delayed the filing of its annual report to address these issues. Alessandro DiNello, previously CEO of Flagstar Bank, has replaced Cangemi as executive chairman. The bank's troubles began a month ago when it slashed its dividend and reported a net quarterly loss, raising concerns about the regional banking world.