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Shares of NYCB fall more than 20% after bank discloses ‘internal controls’ issue, CEO change

February 29, 2024


Shares of New York Community Bancorp fell more than 26% on Friday after the regional lender announced a leadership change and disclosed issues with its internal controls.

The regional bank announced after market close on Thursday that Alessandro DiNello, its executive chairman, is taking on the roles of president and CEO, effective immediately. NYCB has been under pressure in recent months due in part to concerns about its exposure to commercial real estate.

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