New York Community Bancorp Issues Current Liquidity And Deposit Information: Total Deposits ~$83B And Total Liquidity $37.3B With Cash Held On Balance Sheet ~$17B, As Of February 5, 2024
Portfolio Pulse from Benzinga Newsdesk
New York Community Bancorp, Inc. (NYCB) reported updated financial figures as of February 5, 2024, showcasing a strong liquidity position and deposit stability. Total deposits reached approximately $83.0 billion, an increase from the end of 2023, with 72% being insured or collateralized. Uninsured deposits stood at $22.9 billion. The company's total liquidity was reported at $37.3 billion, exceeding uninsured deposits with a coverage ratio of 163%, including $17.0 billion in cash and $6.1 billion in unencumbered securities.
February 07, 2024 | 6:23 am
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New York Community Bancorp, Inc. (NYCB) demonstrates strong financial health with increased deposits and high liquidity as of February 5, 2024.
The reported increase in deposits and high liquidity levels indicate a strong financial position for NYCB, which is likely to instill investor confidence and potentially lead to a positive impact on the stock price in the short term. The coverage ratio exceeding uninsured deposits significantly demonstrates the bank's ability to manage risks effectively.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100