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New York Community Bancorp, Inc. — Preferred Stock Offering
Company: New York Community Bancorp, Inc.
Date announced: 3/10/2017
Shares Offered: 20,000,000
Date of Pricing: 3/10/2017
Price Per Share: $25.00
Preferred Stock Offering Details: New York Community Bancorp, Inc. (NYSE:NYCB) (the "Company"), the parent company for New York Community Bank and New York Commercial Bank, today announced the pricing of its underwritten public offering of 20,000,000 depositary shares, each representing a 1/40th interest in a share of its Fixed-to-Floating Rate Series A Noncumulative Perpetual Preferred Stock, par value $0.01 per share (the "Series A Preferred Stock"), with a liquidation preference of $1,000 per share (equivalent to $25 per depositary share). The Company expects to use the net proceeds from the offering for general corporate purposes and expects to contribute a substantial portion of the net proceeds to New York Community Bank and New York Commercial Bank. The Company intends to apply to list the depositary shares on the New York Stock Exchange under the symbol "NYCB PrA." The offering is expected to close on March 17, 2017, subject to customary closing conditions. The company has granted the underwriters a 30-day option to purchase up to an additional 3,000,000 depository shares from the company.
New York Community Bancorp is a bank holding company. Co. has two primary subsidiaries: New York Community Bank (Community Bank) and New York Commercial Bank (Commercial Bank). The Community Bank is a producer of multi-family loans, and provides commercial real estate loans, acquisition, development, and construction loans, and commercial and industrial loans. Co. also originates one-to-four family loans originated through its mortgage banking operation. The Commercial Bank provides installment loans, revolving lines of credit, and cash management services, and 24-hour banking online and by phone. At Dec 31 2015, Co. had total assets of $450.32 billion and total deposits of $28.43 billion.
Company: New York Community Bancorp, Inc.
Date announced: 3/10/2017
Shares Offered: 20,000,000
Date of Pricing: 3/10/2017
Price Per Share: $25.00
Preferred Stock Offering Details: New York Community Bancorp, Inc. (NYSE:NYCB) (the "Company"), the parent company for New York Community Bank and New York Commercial Bank, today announced the pricing of its underwritten public offering of 20,000,000 depositary shares, each representing a 1/40th interest in a share of its Fixed-to-Floating Rate Series A Noncumulative Perpetual Preferred Stock, par value $0.01 per share (the "Series A Preferred Stock"), with a liquidation preference of $1,000 per share (equivalent to $25 per depositary share). The Company expects to use the net proceeds from the offering for general corporate purposes and expects to contribute a substantial portion of the net proceeds to New York Community Bank and New York Commercial Bank. The Company intends to apply to list the depositary shares on the New York Stock Exchange under the symbol "NYCB PrA." The offering is expected to close on March 17, 2017, subject to customary closing conditions. The company has granted the underwriters a 30-day option to purchase up to an additional 3,000,000 depository shares from the company.
New York Community Bancorp is a bank holding company. Co. has two primary subsidiaries: New York Community Bank (Community Bank) and New York Commercial Bank (Commercial Bank). The Community Bank is a producer of multi-family loans, and provides commercial real estate loans, acquisition, development, and construction loans, and commercial and industrial loans. Co. also originates one-to-four family loans originated through its mortgage banking operation. The Commercial Bank provides installment loans, revolving lines of credit, and cash management services, and 24-hour banking online and by phone. At Dec 31 2015, Co. had total assets of $450.32 billion and total deposits of $28.43 billion.
