NYCB Faces Extended Losses, Delays Profitability to 2026

The bank's struggles with commercial real estate exposure lead to a fourth consecutive quarterly loss and a revised profit timeline.

New York Community Bancorp reported a net loss of $289 million, or 79 cents per share, in the third quarter, falling short of analysts' expectations.
The bank's profitability goal has been pushed back to 2026 due to ongoing challenges in the commercial real estate sector.
Provisions for credit losses increased significantly to $242 million, reflecting heightened risk in the real estate market.
Net interest income dropped 42% year-over-year, affected by higher interest-bearing liabilities and increased costs of funds.
NYCB has undertaken cost-cutting measures, including job cuts and asset sales, to stabilize its financial position.