New York Community Bancorp (NYCB) plans to sell $5B of mortgage warehouse loans to JPMorgan Chase, improving its capital and liquidity.
New York Community Bancorp (NYCB) plans to sell $5B of mortgage warehouse loans to JPMorgan Chase, improving its capital and liquidity, & reducing loan-to-deposit ratio. Proceeds will be invested in cash & securities, & the deal is expected to close in Q3 2024. The sale aligns with CEO Joseph Otting's strategic plan to bolster NYCB's capital, liquidity, and loan-to-deposit metrics, while also shrinking its balance sheet by reducing non-core assets.
May 14, 2024
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