trending Market Intelligence /marketintelligence/en/news-insights/trending/3ra5kemje7isbak-wr_lxw2 content esgSubNav
In This List

New York Community Bancorp expects $60M cost savings from mortgage biz sale

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


New York Community Bancorp expects $60M cost savings from mortgage biz sale

New York Community Bancorp Inc. expects to record annual cost savings of approximately $60 million from the sale of its mortgage banking operations, according to an investor presentation.

The company anticipates additional cost save opportunities from lower systemically important financial institution-readiness expenses. President and CEO Joseph Ficalora said the Westbury, N.Y.-based company, with assets of $49.1 billion as of Dec. 31, 2017, has the ability to grow its balance sheet by about $5 billion before earning SIFI status.

New York Community Bancorp also expects to record approximately $145 million in operating expenses for the first quarter.