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NEW YORK COMMUNITY BANCORP, INC. ANNOUNCES OVER $1 BILLION EQUITY INVESTMENT ANCHORED BY FORMER U.S. TREASURY SECRETARY STEVEN MNUCHIN'S LIBERTY STRATEGIC CAPITAL, HUDSON BAY AND REVERENCE CAPITAL

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星期三, 三月 6, 2024

HICKSVILLE, N.Y., March 6, 2024 /PRNewswire/ -- New York Community Bancorp, Inc. (NYSE: NYCB) ("NYCB" or the "Company") today announced that Liberty Strategic Capital ("Liberty"), Hudson Bay Capital ("Hudson Bay"), Reverence Capital Partners ("Reverence Capital"), Citadel Securities ("Citadel"), other institutional investors and certain members of the Company's management (collectively, the "Investors") will make a combined over $1 billion investment in the Company, subject to finalization of definitive documentation and receipt of applicable regulatory approvals. Liberty is expected to invest $450 million, Hudson Bay will invest $250 million, and Reverence will invest $200 million as part of the transaction.

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Liberty is expected to invest $450 million, Hudson Bay will invest $250 million, and Reverence will invest $200 million as part of the transaction.
Secretary Steven Mnuchin stated, "In evaluating this investment, we were mindful of the Bank's credit risk profile.
We enter this next chapter with a strong balance sheet and liquidity position supported by a diversified and retail focused deposit base.
Sullivan & Cromwell LLP is serving as legal counsel to Liberty Strategic Capital.

EXTENDED CLASS PERIOD: Robbins Geller Rudman & Dowd LLP Files Class Action Lawsuit Against New York Community Bancorp, Inc. and Announces Opportunity for Investors with Substantial Losses to Lead Case - NYCB

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星期六, 二月 17, 2024

Class Action Lawsuit, Professional Services, Legal, Complaint, Acquisition, New York Community Bank, Currency, Pressure, Bloomberg, Risk management, News, Disclosure, NYCB, Signature Bank, Comptroller, Michael J. Hsu, Category

), the New York Community Bancorp class action lawsuit charges New York Community Bancorp and certain of New York Community Bancorp’s top executives with violations of the Securities Exchange Act of 1934.

Key Points:

), the New York Community Bancorp class action lawsuit charges New York Community Bancorp and certain of New York Community Bancorp’s top executives with violations of the Securities Exchange Act of 1934.
A lead plaintiff acts on behalf of all other class members in directing the New York Community Bancorp class action lawsuit.
The lead plaintiff can select a law firm of its choice to litigate the New York Community Bancorp class action lawsuit.
An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the New York Community Bancorp class action lawsuit.

ICBA Opens Center for Innovation in Atlanta

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星期四, 二月 15, 2024

The Independent Community Bankers of America® ( ICBA ) announced the opening of the new ICBA Center for Innovation in Atlanta, establishing a permanent home for its world-class community bank innovation initiatives.

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The Independent Community Bankers of America® ( ICBA ) announced the opening of the new ICBA Center for Innovation in Atlanta, establishing a permanent home for its world-class community bank innovation initiatives.
“The ICBA Center for Innovation embodies our commitment to upholding our mission of creating and promoting an environment where community banks flourish,” ICBA President and CEO Rebeca Romero Rainey said.
“This space puts ICBA in the center of Atlanta’s financial services community, with our local partners within walking distance of our office.
For more information about ICBA ThinkTECH Innovation programming and upcoming opportunities at the ICBA Center for Innovation, visit icba.org/accelerator.

NYCB INVESTOR DEADLINE APPROACHING: Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In NYCB To Contact Him Directly To Discuss Their Options

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星期四, 二月 15, 2024

Acquisition, Court, Currency, Bloomberg, Risk management, New York Community Bank, News, Advertising, Disclosure, NYCB, Woman, Signature Bank, LLP, Comptroller, Michael J. Hsu, Category, Cryptocurrency

NEW YORK, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against New York Community Bancorp, Inc. (“NYCB” or the “Company”) (NYSE: NYCB) and reminds investors of the April 8, 2024 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Key Points:

If you suffered losses exceeding $100,000 investing in NYCB stock or options between March 1, 2023 and February 5, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
New York Community Bancorp also disclosed it would cut its quarterly dividend from $0.17 to $0.05 per share.
Faruqi & Faruqi, LLP also encourages anyone with information regarding NYCB’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Mutual Savings and Loan Association Adopts Plan of Conversion

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星期五, 二月 2, 2024

Comptroller, Growth, Wealth, Prospectus, Michael J. Hsu, Currency, Silver, Security (finance)

METAIRIE, La., Feb. 02, 2024 (GLOBE NEWSWIRE) -- Mutual Savings and Loan Association, a federally chartered savings association headquartered in Metairie, Louisiana, today announced that its Board of Directors adopted a plan to convert Mutual Savings and Loan Association (“Mutual Savings” or the “Association”) to a stock institution (“Plan of Conversion”).

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METAIRIE, La., Feb. 02, 2024 (GLOBE NEWSWIRE) -- Mutual Savings and Loan Association, a federally chartered savings association headquartered in Metairie, Louisiana, today announced that its Board of Directors adopted a plan to convert Mutual Savings and Loan Association (“Mutual Savings” or the “Association”) to a stock institution (“Plan of Conversion”).
In accordance with the Plan of Conversion, Mutual Savings will become a wholly-owned subsidiary of a stock holding company and the common stock of the holding company will be offered to deposit customers of the Association and others, including members of the general public, in the manner and subject to the priorities set forth in the Plan of Conversion.
A proxy statement setting forth detailed information relating to the Plan of Conversion will be sent to the depositor members for their consideration prior to a special meeting called to consider the Plan of Conversion.
Silver, Freedman, Taff & Tiernan LLP, Washington, D.C., is special counsel to Mutual Savings and Loan Association for the conversion and stock offering.

Lake Shore Bancorp, Inc. Announces 2023 Fourth Quarter and Year End Financial Results

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星期三, 一月 31, 2024

Comptroller, CECL, FDIC, Bank, Environment, Marketing, Current Expected Credit Losses, Total, Sale, Currency, Insurance, Income tax, Cryptocurrency

2023 Full Year and Fourth Quarter Financial Highlights:

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2023 Full Year and Fourth Quarter Financial Highlights:
Net income decreased to $749,000 during the 2023 fourth quarter, a decrease of $443,000, or 37.2%, when compared to the 2022 fourth quarter.
2023 fourth quarter net interest income decreased $990,000, or 15.1%, to $5.6 million from the 2022 fourth quarter.
Interest income for the 2023 fourth quarter was $8.6 million, an increase of $1.1 million, or 15.3%, compared to $7.5 million for the 2022 fourth quarter.
2023 fourth quarter interest expense was $3.1 million, an increase of $2.1 million, or 231.0%, from $923,000 for the 2022 fourth quarter.

Sandhills Global Introduces Currency Equipment Financing Solution for Canadian Brands MarketBook, CraneTrader, and ForestryTrader

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星期四, 二月 1, 2024

Sandhills Global, AG, Transport, Marketing, Forestry, Sale, Eastern Canada, Currency, Cryptocurrency

LINCOLN, Neb., Feb. 1, 2024 /PRNewswire/ -- Sandhills Global today announces the introduction of the Currency financing solution to buyers and sellers using Sandhills marketplaces in Canada.

Key Points:

LINCOLN, Neb., Feb. 1, 2024 /PRNewswire/ -- Sandhills Global today announces the introduction of the Currency financing solution to buyers and sellers using Sandhills marketplaces in Canada.
Currency is the financial technology arm of Sandhills, offering secure solutions to facilitate financing for large expenditures.
Currency is now available to buyers in Canada through MarketBook.ca , MarketBook.qc.ca , CraneTrader.ca , and ForestryTrader.ca , the Canadian versions of Sandhills' worldwide MarketBook, CraneTrader, and ForestryTrader brands.
With the integration of the Currency solution, these sites will also enable equipment, truck, and trailer dealers in Canada to extend financing opportunities to their customers, thereby streamlining sales.

NexTier, Inc. and Mars Bancorp, Inc. Announce Regulatory Approvals

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星期二, 一月 30, 2024

Comptroller, Security (finance), Mergers and acquisitions, NexTier Bank, Agreement, Michael J. Hsu, Federal Reserve, Plan, Currency

BUTLER, Pa. and MARS, Pa., Jan. 30, 2024 /PRNewswire/ -- NexTier, Inc. ("NexTier"), the holding company of NexTier Bank, N.A.

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BUTLER, Pa. and MARS, Pa., Jan. 30, 2024 /PRNewswire/ -- NexTier, Inc. ("NexTier"), the holding company of NexTier Bank, N.A.
"We are pleased to have received all regulatory approvals, and this allows us to complete the merger process on-time as previously disclosed to Mars Bank customers."
All existing Mars Bank branches will open on Tuesday, February 20th as NexTier Bank locations.
Promptly following completion of the Merger, Mars shareholders will receive instructions for exchanging their common stock certificates in order to receive the merger consideration of $20 per share.

Century Next Financial Corporation Reports 2023 Year-End Results

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星期五, 一月 26, 2024

Family, Insurance, CECL, Federal Reserve, Advertising, Bank, Currency, Comptroller, Environment, Sale, Common equity, Michael J. Hsu, EPS, News, Growth, Cryptocurrency

RUSTON, La., Jan. 26, 2024 (GLOBE NEWSWIRE) -- Century Next Financial Corporation (the “Company”) (OTCQX: CTUY), the holding company of Century Next Bank, with $765.8 million in assets, today announced financial results for the year ended December 31, 2023.

Key Points:

RUSTON, La., Jan. 26, 2024 (GLOBE NEWSWIRE) -- Century Next Financial Corporation (the “Company”) (OTCQX: CTUY), the holding company of Century Next Bank, with $765.8 million in assets, today announced financial results for the year ended December 31, 2023.
This growth in cash and cash equivalents provided strength to the Company’s liquidity position during the year ending December 31, 2023.
Return on average assets was 0.95% for the year ended December 31, 2023, an increase compared to 0.85% for the year ended December 31, 2023.
Century Next Financial Corporation is the holding company for Century Next Bank (the “Bank”) which conducts business from its main office in Ruston, Louisiana.

Litigator Philip Yannella Joins Blank Rome as Partner and Co-Chair of the Privacy, Security & Data Protection Practice

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星期二, 一月 23, 2024

He joins the firm’s Philadelphia office from Ballard Spahr where he was a partner and co-leader of the Privacy and Data Security Group.

Key Points:

He joins the firm’s Philadelphia office from Ballard Spahr where he was a partner and co-leader of the Privacy and Data Security Group.
Phil will be a tremendous asset as we continue to grow our Privacy, Security & Data Protection practice and services.”
Phil advises clients on regulatory compliance, privacy litigation, data breach counseling and investigations, and data governance.
“Phil has built a tremendous reputation as a trusted data privacy and cybersecurity advisor and litigator,” said Sharon R. Klein , partner and co-chair of the Privacy, Security & Data Protection practice.
“I’m delighted to join Blank Rome and support the Privacy, Security & Data Protection practice alongside Sharon, one of the top privacy and data security lawyers in the field,” noted Phil.