New York Community Bancorp, Inc. (NYCB) has appointed Alessandro DiNello as Executive Chairman effective immediately, as announced in a press release on February 7, 2024. DiNello, who previously served as the non-executive chairman of the board, will work alongside President and CEO, Thomas R. Cangemi, and the senior executive leadership team to enhance the bank's operations.
The company, headquartered in Hicksville, New York, is the parent company of Flagstar Bank, N.A., one of the largest regional banks in the country. As of December 31, 2023, NYCB had $116.3 billion of assets, $85.8 billion of loans, deposits of $81.4 billion, and total stockholders' equity of $10.8 billion. Flagstar Bank, N.A. operates 420 branches across the Northeast, Midwest, Southeast, and West Coast, with a strong presence in high-growth markets. Additionally, the bank has 134 private banking teams serving high-net-worth individuals and their businesses in metropolitan New York City and the West Coast.
New York Community Bancorp, Inc. holds market-leading positions in several national businesses, including multi-family lending, mortgage origination and servicing, and warehouse lending. The company is the 2nd largest multi-family portfolio lender in the country and the leading multi-family portfolio lender in the New York City market area. Flagstar Mortgage, a subsidiary of NYCB, is the 7th largest bank originator of residential mortgages and the industry's 5th largest sub-servicer of mortgage loans nationwide.
The company's shares are continuing their downward spiral today, with a -5.2% movement that brings their price to $4.59.
The full 8-K submission by the company is available here.
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (MM) | $1,690 | $1,805 | $1,708 | $1,689 | $2,092 | $4,725 |
| Revenue Growth | n/a | 6.83% | -5.37% | -1.11% | 23.86% | 125.86% |
| Interest Income (MM) | $1,031 | $957 | $1,100 | $1,289 | $1,396 | $2,716 |
| Operating Margins | 33% | 28% | 34% | 48% | 39% | 62% |
| Net Margins | 25% | 22% | 30% | 35% | 31% | 59% |
| Net Income (MM) | $422 | $395 | $511 | $596 | $650 | $2,798 |
| Depreciation & Amort. (MM) | $32 | $27 | $24 | $21 | $18 | $18 |
| Earnings Per Share | $0.79 | $0.77 | $1.02 | $1.2 | $1.26 | $3.99 |
| EPS Growth | n/a | -2.53% | 32.47% | 17.65% | 5.0% | 216.67% |
| Diluted Shares (MM) | 487 | 466 | 463 | 465 | 485 | 725 |
| Free Cash Flow (MM) | $531 | $501 | $333 | $286 | $1,023 | -$124 |
| Capital Expenditures (MM) | $10 | $9 | $1 | $4 | $3 | $3 |
