1st Bank Failure of 2024 imminent. NY Community Bancorp (100 billion) drops 40% to $1.86, halted as troubled bank seeking cash infusion

🚨JUST IN: NEW YORK COMMUNITY BANCORP HALTED FOR PENDING NEWS.

STOCK DOWN -41% TODAY.

PROBABLY NOTHING. pic.twitter.com/LYMrLJ6vKv

— Genevieve Roch-Decter, CFA (@GRDecter) March 6, 2024

This bank is on end of life support in the Bank ICU. This will be a very large failure and will be the first of many due to the horrendous banking environment with Commercial Real Estate being a dead man walking and all the other known lending problems. March 11th will kick off more challenges as the Emergency Lending Facility is expiring at the Fed.

New York Community Bancorp tumbles 40% and is halted as troubled bank reportedly seeking cash infusion.

https://www.cnbc.com/2024/03/06/new-york-community-bancorp-tumbles-40percent-and-is-halted-as-troubled-bank-reportedly-seeking-cash-infusion.html

AC