New York Community Bancorp Inc.’s stock reversed course and rose Wednesday as the bank reassured investors by saying it has “ample” liquidity and that total deposits have increased in the last several weeks. In a conference call with analysts, the bank’s newly named executive chair, Alessandro P. DiNello, said the bank has “obviously been dealing with a very serious situation. … But [what] I hope to do this morning is instill some confidence that this bank remains strong and will get itself back on the right track.”
The bank also plans to name a new chief risk officer “in the very near future,” he said. The comments came after New York Community Bancorp sustained cuts to its debt rating at Moody’s and Fitch, as well as a fresh stock downgrades from J.P. Morgan and BofA Securities. Separately, the Hicksville, N.Y.-based bank has offered investors a chance to bid on a $22.4 million mortgage backed by three five-story walk-up apartment buildings in Washington Heights, a neighborhood in northern Manhattan, according to details of the offering viewed by MarketWatch. Also read: New York Community Bancorp looks to sell rent-regulated commercial real estate after surprise quarterly loss Amid volatile trading, New York Community Bancorp’s stock
NYCB,
+6.67%
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The bank also plans to name a new chief risk officer “in the very near future,” he said. The comments came after New York Community Bancorp sustained cuts to its debt rating at Moody’s and Fitch, as well as a fresh stock downgrades from J.P. Morgan and BofA Securities. Separately, the Hicksville, N.Y.-based bank has offered investors a chance to bid on a $22.4 million mortgage backed by three five-story walk-up apartment buildings in Washington Heights, a neighborhood in northern Manhattan, according to details of the offering viewed by MarketWatch. Also read: New York Community Bancorp looks to sell rent-regulated commercial real estate after surprise quarterly loss Amid volatile trading, New York Community Bancorp’s stock
NYCB,
+6.67%
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