New York Community Bank: Canary in the Coal Mine for CRE Pain?
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New York Community Bank reported a surprise loss in the fourth quarter, took an axe to its dividend and socked away over $500 million for commercial real estate losses. The bank's stock sunk to a 23-year low and other regional lenders fell in response. Is NYCB a red flag or a one-off for CRE distress in the banking space? Deconstruct digs in.
New York Community Bank: Canary in the Coal Mine for CRE Pain?