NYCB CEO predicts a 'clear path to profitability' after disclosing first-quarter loss [Yahoo! Finance Canada]
Signature Bank (SBNY)
Last signature bank earnings: 4/23 05:00 am
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US:NASDAQ Investor Relations:
investor.signatureny.com/investor-relations
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Source: Yahoo! Finance Canada
trading as a new CEO outlined a "clear path to profitability over the following two years." The net loss was due in part to an increase in provisions set aside for future loan losses. They increased to $315 million, compared with $170 million in the same year-ago period. They were, however, down from $552 million in the fourth quarter. NYCB is a big lender to office buildings and rent-regulated apartment complexes, especially in New York City. Its stock has fallen more than 70% since the beginning of 2024, but it was up more than 15% in premarket trading Wednesday as new CEO Joseph Otting pledged that NYCB would achieve "significantly higher profitability and higher capital levels" by 2026. ADVERTISEMENT "While this year will be a transitional year for the company, we have a clear path to profitability over the following two years," he said in a release. Otting, the former acting Comptroller of the Currency, leads a new team put in place this spring following a $1 billio
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SBNY
News
- Signature Bank (NASDAQ: SBNY) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- Distrust in FDIC leadership drives more staff to consider exits, data shows [Reuters]Reuters
- Distrust in FDIC leadership drives more staff to consider exits, data shows [Yahoo! Finance]Yahoo! Finance
- Signature Bank (NASDAQ: SBNY) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- NYCB delays annual shareholders meeting by two weeks [Yahoo! Finance]Yahoo! Finance
SBNY
Sec Filings
- 3/15/24 - Form SC
- 2/14/24 - Form SC
- SBNY's page on the SEC website