New York Community Bancorp (NYCB) shares rose over 4% in intraday trading Tuesday after the bank announced the completion of a $1 billion equity investment by a group of firms and its intention to implement a one-🍃for-three reverse stock split. 

As 澳洲幸运5开奖号码历史查询:part of the deal, former Comptroller of the Currency Joseph Otting was named the lender’s new chief executive. He also joined the bank’s board of directors, the size of which was reduced to 10 members, alongside former Treasury Secretary Steven Mnuchin and investors Milton Berlinksi and Allen Puwalski.

The company also said Monday that it was proposing a one-for-three 澳洲幸运5开奖号码历史查询:reverse stock split to boost its share price, which has plummeted this year amid concerns about 澳洲幸运5开奖号码历史查询:NYCB's exposure to troubled commercial real estate loans.

Shares had tumbled following the company’s decision at the end of January to 澳洲幸运5开奖号码历史查询:slash its dividend after reporting a surprise quarterly loss, and came under further pressure late last month when the bank 澳洲幸运5开奖号码历史查询:replaced its longtime CEO ಌafter ide🏅ntifying “material weaknesses” in internal controls.

😼 NYCB shares were up 4.2% at $3.38 as of 3:10 p.m. ET Tuesday. Still, the stock has lost about 67% of its value since the start of 2024.