[unable to retrieve full-text content]Bank deposits are back above pre-SVB levels. Regional lenders still have problems. Yahoo Finance Source link
Read More »New York Community Bancorp (NYCB) played the role of rescuer during a 2023 regional banking crisis by purchasing some assets of the failed Signature Bank. Now it is experiencing some trouble of its own. The stock of the Hicksville, N.Y.-based lender fell 46% Wednesday after it reported a surprise net loss of $252 million for the fourth quarter and announced a suspension of its dividend. It recovered some of those losses by 11:30 a.m. ET, when it was down 34%, but it is still on track to post… Source link
Read More »Several of the nation’s best-known midsized lenders reported sizable drops in profits during the fourth quarter, a reminder of how challenging 2023 was. The problem is that things aren’t expected to get much better in 2024. The stock of Discover Financial Services (DFS) fell 11% Thursday after it reported that earnings fell 62% from the year-ago period. KeyCorp (KEY) fell by more than 4% after it said profits dropped 36%. Truist (TFC) rose slight after falling for most of the afternoon. It… Source link
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