"NYCB Secures $1 Billion Capital Infusion and Implements Reverse Stock Split"

New York Community Bancorp has closed a $1 billion capital infusion deal with an investor group, including former U.S. Treasury Secretary Steven Mnuchin, and plans to implement a one-for-three reverse stock split of its common stock. The bank has appointed Joseph Otting as its chief executive and added new directors to the board. NYCB's shares rose 5.8% in extended trading following the announcement. The bank also revealed plans to raise funds through stocks and warrants, with investors expected to own about 39.6% of the company on a fully-diluted basis. However, concerns remain about the lender's turnaround as it continues to face pressure on profits due to efforts to boost reserves for potential bad loans in its commercial real estate portfolio.