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NYCB Stock Jumps as Results for Embattled Bank Top ‘Worst-Case Fears’

NYCB Stock Jumps as Results for Embattled Bank Top ‘Worst-Case Fears’

Investors rewarded New York Community Bancorp as management laid out plans to restore the bank to health and disclosed results that were less disastrous than feared on Wednesday. The Long Island-based lender is trying to turn itself around with new leadership and investor backing. The stock is still down about 70% in a year’s time after a dismal fourth-quarter earnings report surprised investors and sent it plummeting in late January.