Reported Earlier, New York Community Bancorp Strengthens Financial Position With $5.9B Loan Sale to JPMorgan Chase Bank
Portfolio Pulse from Benzinga Newsdesk
New York Community Bancorp (NYCB) has strengthened its financial position by selling $5.9 billion in loans to JPMorgan Chase Bank. The company also plans to close an additional $200 million in mortgage warehouse loans soon, which is expected to add approximately 70 basis points to its CET1 ratio.
July 23, 2024 | 6:52 am
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New York Community Bancorp has sold $5.9 billion in loans to JPMorgan Chase Bank and plans to close an additional $200 million in mortgage warehouse loans soon. This transaction is expected to add approximately 70 basis points to its CET1 ratio.
The sale of $5.9 billion in loans to JPMorgan Chase significantly strengthens NYCB's financial position. The additional $200 million in mortgage warehouse loans, once closed, will further improve the company's CET1 ratio by 70 basis points, indicating a stronger capital position. This is likely to have a positive impact on NYCB's stock price in the short term.
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