(Reuters) – New York Community Bancorp has postponed its annual shareholder meeting by two weeks to June 5.
The bank announced the date change late on Friday. It had previously announced its 2024 Annual General Meeting on May 17.
NYCB did not immediately respond to a Reuters request for comment seeking details of the delay.
The bank has been under pressure since January when it posted a surprise fourth-quarter loss due to higher provisions related to its exposure to the commercial real estate portfolio.
In January, it also cut its quarterly dividend by 70% to shore up capital to cope with tighter regulations on banks with more than $100 billion in assets.
NYCB’s acquisition of Flagstar Bank in 2022 and some assets of the bankrupt Signature Bank last year had pushed it above the $100 billion threshold.
In March, the troubled lender raised $1 billion from investors including former U.S. Treasury Secretary Steven Mnuchin’s Liberty Strategic Capital and named a former Comptroller of the currency as its new CEO.
At the time, it also promised to unveil a turnaround plan aimed at reducing its exposure to commercial real estate.
(Reporting by Manya Saini in Bengaluru; Editing by Shinjini Ganguli)
