February 7, 20241 yr Seems like a bad idea for Key to go after NY Community Bank. NYCB's problem is that its saddled with bad commercial real estate loans. That's already a concern for Key and the last thing they want to double down on. If Key were to make some acquisition, more geographic and business line diversity would be better.
February 7, 20241 yr 3 hours ago, LlamaLawyer said: Didn't NYCB buy Signature? Seems to me like if Bank B buys Bank C (which is failing) and then Bank B starts failing a year later, Maybe Bank A shouldn't buy Bank B. They did and they overpaid. The other mergers were truly FDIC-levered fire sales - like the way PNC bought NCC. Key has more stable deposits and fewer commercial real estate loans, which would help them absorb a bank ~half their size. Remember: It's the Year of the Snake
February 7, 20241 yr 3 hours ago, ryanfrazier said: Seems like a bad idea for Key to go after NY Community Bank. NYCB's problem is that its saddled with bad commercial real estate loans. That's already a concern for Key and the last thing they want to double down on. If Key were to make some acquisition, more geographic and business line diversity would be better. Whoever buys NYCB will get some assurances from the govt re: the toxic assets, I'd assume
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