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NYCB stock is down over 40%, in latest sign the bank is in dire straits

·1 min

Shares of a regional lender, New York Community Bank (NYCB), dropped over 40% after reports that the company is seeking a major cash infusion. Bankers are gauging investor interest in buying stock. The bank is under pressure after reporting a surprise loss last quarter, due in part to soured commercial real estate loans. It also identified material weakness in its controls, causing a $2.4 billion loss to shareholders. The bank has delayed its annual financial disclosure. The stock is now trading at less than $2, nearing an all-time low. This is a developing story.