April 29 (Reuters) - New York Community Bancorp ( NYCB )
has pushed back its annual shareholders meeting by two weeks to
June 5.
The bank disclosed the change in date late on Friday. It had
earlier announced its 2024 AGM on May 17.
NYCB did not immediately respond to a Reuters request for
comment seeking details about the delay.
The bank has been under pressure since January when it
posted a surprise loss for the fourth quarter due to higher
provisions tied to its exposure to the commercial real estate
portfolio.
It also slashed its quarterly dividend by 70% in January to
bolster capital to deal with stricter regulations for banks with
more than $100 billion in assets.
NYCB's acquisition of Flagstar Bank in 2022 and some assets
of failed Signature Bank last year had pushed it above the
$100-billion threshold.
In March, the troubled lender raised $1 billion from
investors including former U.S. Treasury Secretary Steven
Mnuchin's Liberty Strategic Capital and named a former
Comptroller of the Currency its new CEO.
At the time, it also promised to unveil a turnaround plan
aimed at reducing its commercial real estate exposure.
(Reporting by Manya Saini in Bengaluru; Editing by Shinjini
Ganguli)