Dont Sleep on NYCB Management

Management has shown incredible resolve around this challenging period for the bank and I expect them to contnue being reliable. In crisis management, showing updated financials ytd last night was a great beacon of quality. Then in the call this morning, allowing for the Executive team to respond to investor questions directly, in my opinion, greatly increased confidence in their path moving forward.

Despite needing to shore up capital and cut the dividend, there is no risk I can see of this bank going under. They have 150% capital compared to uninsured deposits, and have actually grown deposits by 2billion since the end of Q4. I know I’m not alone in thinking that this management is top tier, with the FDIC allowing such a big purchase not even a year ago proving clear regulatory oversight and approval to their loan book.