Company Reiterates That Previously Announced Material Weaknesses Are Not Expected To Impact Full FY23 Financial Results To Be Included In Form 10-K; Form 10-K Expected To Be Filed Within Next 15 Days
Portfolio Pulse from Benzinga Newsdesk
The company has reiterated that the previously announced material weaknesses are not expected to impact its full FY23 financial results, which will be included in the Form 10-K, expected to be filed within the next 15 days. Additionally, George F. Buchanan III and Colleen McCullum have been appointed as Executive Vice President and Chief Risk Officer, and Executive Vice President and Chief Audit Executive, respectively.
March 01, 2024 | 2:48 pm
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NYCB has confirmed that previously announced material weaknesses will not impact its FY23 financial results, with Form 10-K filing expected soon. New executive appointments announced.
The reiteration by NYCB that its financial results for FY23 will not be impacted by previously announced material weaknesses is likely to instill confidence among investors, potentially leading to a positive short-term impact on its stock price. The announcement of new executive appointments with significant experience in risk management and audit further strengthens this outlook by suggesting improvements in corporate governance and oversight.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90