New York Community Bank
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Since The Start
I come to NYCB via their acquisition of Penn Federal Savings. I only have a savings account but the bank has always been helpful. They refunded wire fees when it was clear I didn't know the policies etc. Branch folks are always very friendly whether in person or on phone. I started with PennFSB in 2000.
My New York Community Bank Experience.
I've been with NYCB for a couple of years in my youth. The bank doesn't have ridiculous stipulations and don't try to stiff their customers on things more well known banks are notorious for. Setting up a checking account is pretty easy and there are no minimums or large over draft fees as well as no ATM fees which is almost unheard of today. Savings accounts are average but they do have better features than other banks, such as a respectable minimum amount (Under $500) and their penalty fee is pretty low as well. While I do approve of the bank, one thing I will suggest if you go with this bank is to make sure you have one in your neighborhood. Branches are extremely sparse and it will become a headache if you need to actually go to the bank regularly. You'd think such a good bank would have a lot more branches available but high quality usually means low quantity unfortunately.
A couple of complaints
So recently Ohio Savings changed it's automated system to commune with NY Community Bank. WHAT A NIGHTMARE. DEFINITELY not easy to navigate through the system! Then I made a purchase in another state and instead of calling me to make sure of the transactions, they FROZE my account WITHOUT ANY NOTIFICATION. Seriously? What another nightmare. Investigating other banking options after being a loyal customer for over 25 years.
Personal Data Of NYCB Customers Are Compromised By Flagstar Breaches
Flagstar Bank Breached for the Third Time in Two Years
https://heimdalsecurity.com/blog/flagstar-bank-breached-third-time/
A long letter from Flagstar Bank confirms that NYCB accounts are affected, suggesting to subscribe for KROLL Identity Monitoring Services.
Data as of Q2 2023
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 32541 |
| Year Established | 1987 |
| Employees | 6787 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 4.43% |
| Return on Equity - YTD | 44.49% |
| Annual Interest Income | $2.53B |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $118.7B$24.85B |
| Loans | Q2 2023vs Q2 2022 | $84.88B$19.16B |
| Deposits | Q2 2023vs Q2 2022 | $88.63B$17.33B |
| Equity Capital | Q2 2023vs Q2 2022 | $11.87B$2.85B |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $594.5MM$122.2MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $235.3MM$120.2MM |
| Real Estate Owned | Q2 2023vs Q2 2022 | $6.8MM$4.8MM |
