New York Community Bancorp pledged Wednesday to reduce its exposure to the troubled commercial real estate (CRE) sector, seeking to reassure investors who have dumped the stock since its earnings report last week.
The lender unexpectedly reported a fourth-quarter loss after making higher provisions for potential loan defaults, primarily due to its exposure to the CRE sector.
Here is a breakdown of the bank’s loan portfolio as of December 31:
**Total assets and deposits
New York Community Bancorp’s total assets are $116.3 billion and total deposits are $81.4 billion.
The bank said its total deposits had risen to about $83 billion on Tuesday, up 2% from those reported at the end of the year.
**Commercial and industrial (C&I) loans
The lender said its total C&I loans were $25.3 billion, including loans acquired from Signature Bank and its warehouse loans. These constituted about 30% of his total loans.
**Business loans
The lender’s commercial loans – which include commercial real estate and acquisition loans, as well as development and construction – were $13.35 billion, or nearly 16% of its total loans.
**Multifamily loans
Its multifamily loan portfolio was $37.2 billion and represented about 44% of its total loans.
**Other loans
The bank’s one- to four-family residential loans totaled $6.09 billion, representing 7.2% of its total loans.
Other loans – which include the home equity line of credit, or HELOC, and some consumer loans – were $2.6 billion.
2024-02-07 17:38:48
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