"NYCB Stock Plunges 28% on CEO Departure and Internal Controls Issue"
TL;DR Summary
New York Community Bancorp's shares plummeted after its CEO's sudden departure and the revelation of internal control issues, including a $2.4 billion goodwill impairment charge and material weaknesses in its loan review process. The bank, which recently acquired the failed Signature Bank, has faced significant losses on commercial real estate loans and a credit rating downgrade. The abrupt departure of the CEO, Thomas Cangemi, and the delay in filing its annual report with the SEC have raised concerns among investors and analysts, leading to a 30% drop in the bank's stock.
Topics:business#ceo-departure#finance#financial-disclosures#internal-controls#new-york-community-bancorp#stock-plunge
- New York Community Bancorp plunges on abrupt departure of CEO and emerging internal controls issues Yahoo Finance
- Shares of NYCB fall more than 20% after bank discloses 'internal controls' issue, CEO change CNBC
- Stock Market Today: New York Community Bancorp (NYCB) Stock Price Falls -- Live Updates The Wall Street Journal
- New York Community Bank Reports $2.4 Billion More in Losses as C.E.O. Resigns The New York Times
- NYCB shares fall 28% as bank admits weak loan oversight, CEO change New York Post
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