Final hours! Save up to 55% OFF InvestingProCLAIM SALE

FDIC to sell New York Community Bancorp shares

Published 05/17/2023, 05:44 AM
Updated 05/17/2023, 05:50 AM
© Reuters.  FDIC to sell New York Community Bancorp (NYCB) shares
FLG
-

New York Community Bancorp Inc (NYSE:NYCB) shares owned by the Federal Deposit Insurance Corporation (FDIC) will be sold in the coming weeks.

FDIC is selling just over 39 million shares it owns after the Signature Bank deal. NYCB clarified it won’t receive any proceeds from the offering as it is FDIC that is selling.

“The offering is expected to close on May 19, 2023, subject to customary closing conditions,” it said in the press release.

FDIC plans to sell shares by June 8, at the latest.

It was announced in March that NYCB’s Flagstar Bank of Hicksville, New York was buying $38 billion of Signature Bank assets, including $25B in cash and about $13B in loans after the bank failed.

 
 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.