New York CNN —
Shares of New York Community Bank (NYCB) fell by as much as 20% in after-hours trading on Thursday after the beleaguered regional lender said in a filing it had identified “material weakness” in the company’s controls. The issues caused a $2.4 billion loss to shareholders last quarter, NYCB said.
The bank also announced that Alessandro DiNello, its recently appointed executive chairman, will be the new president and CEO, effective immediately.
The announcement comes just one month after NYCB reported it would slash dividends after reporting a surprise loss of $252 million last quarter, compared
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