off-the-wire

US mid-sized banks with over or close to $100 billion in assets

Kitco Media
By Reuters
Published:
Updated:
Reuters

Jan 31 (Reuters) - Regional U.S. banks' shares sank on Wednesday, dragged down by a 46% plunge in the shares of New York Community Bancorp (NYCB.N), opens new tab after it cut its dividend and posted a surprise loss.

The dividend was cut to bolster its capital as NYCB prepares to deal with potentially stricter regulation for banks with more than $100 billion of assets. The purchase of some Signature Bank assets last year along with the acquisition of Flagstar in 2022 pushed the bank's assets above that threshold.

Compiled by Arasu Kannagi Basil in Bengaluru; Editing by Krishna Chandra Eluri

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