US NYCB's final deficit expands more than 10 times its initial level; stock price plummets despite announcement of new CEO. New York Community Bancorp is a bank holding company that owns Flagstar Bank, which acquired some of the deposits and assets of American banks that went bankrupt due to financial instability in March last year.
The final profit and loss was initially a deficit of over 200 million dollars due to expenses to prepare for bad debts on loans for commercial real estate, but with losses recorded more than ten times more than 2.7 billion dollars.