New York Community Bank (NYCB) headquarters in Hicksville, New York, United States, on Thursday, February 1, 2024.
Bing Guan | Bloomberg | Getty Images
Community Bank of New York It said Thursday it lost 7% of its deposits in the turbulent month before announcing a capital infusion of more than $1 billion from investors led by former Treasury Secretary Steven Mnuchin's Liberty Strategy Capital.
The New York Commercial Bank said in an investor presentation tied to the capital increase that the bank had $77.2 billion in deposits as of March 5. That's down from the $83 billion it had as of February 5, the day before Moody's Investors Service downgraded the bank's credit rating to junk.
NYCB also said it would cut its quarterly dividend for the second time this year, to 1 cent per share from 5 cents, a decline of 80%. Before a disastrous fourth-quarter earnings report that sent the bank's shares soaring, New York Commercial Bank paid a dividend of 17 cents.
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