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Point of View
You Think You Know What’s Going to Happen
I got on the phone with a bank CEO recently, and we had a nice conversation. At the end, he mentioned that he had noticed we profiled New York Community Bancorp one year ago, in the first quarter of 2024, with a colorful macaw soaring above the clouds on the cover of the issue. That issue published shortly before the bank announced a $260 million loss due to problem loans, sending the stock into a tailspin. The surprise led to the departure of CEO Thomas Cangemi. He was ultimately replaced by former Comptroller of the Currency Joseph Otting, who had…
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