Upon closing, the Company expects that the transaction will add 65 basis points to the CET1 capital ratio, as converted for the preferred, resulting in a pro-forma CET1 capital ratio of 10.8% as of March 31, 2024. It will also bolster our liquidity profile as the proceeds of the sale will be reinvested into cash and securities. On a pro-forma basis, the ratio of cash and securities to total assets is projected to improve to 24% from 20% at March 31, 2024. Similarly, the Bank's pro-forma loan-to-deposit ratio is expected to decline to 104% compared to 110% at the end of the first quarter of 2024.
Reported Earlier, New York Community Bancorp Agrees To Sell $5B In Warehouse Loans To JPMorgan Chase Bank, Aiming For Improved Loan-To-Deposit Ratio
Company Profile
Wed. 15 May 2024, 3:14am ET
Benzinga
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