Stock prices for the embattled lender have slumped 83% since the beginning of 2024, hitting an all-time low this week before rebounding.
Investors in embattled New York Community Bancorp (NYCB) were taken for a wild ride on Wednesday after shares in the bank plummeted 42% before surging again after the announcement of a $1 billion lifeline from investors.
NYCB is an American regional bank with more than $100 billion in assets and is the bank that acquired the once crypto-friendly Signature Bank following its collapse in March 2023.
However, NYCB has seen a turbulent period after weaker-than-expected financial results in Q4, a reduction in quarterly dividends, and concerns over potential losses from poorly performing loans in the commercial real estate sector.
