NY Community Bancorp receives $1B equity investment led by Liberty Strategic Capital, appoints Joseph Otting as CEO, and aims for a $100+B national bank.

NY Community Bancorp (NYCB) announces over $1B equity investment led by former US Treasury Secretary Steven Mnuchin's Liberty Strategic Capital, alongside Hudson Bay Capital, Reverence Capital Partors, and Citadel Securities. The deal includes four new board members, with Joseph Otting appointed as CEO, and a reconstituted management team aiming for a well-capitalized $100+B national bank with diversified and de-risked business models.