HICKSVILLE, NY, September 30, 2021 / PRNewswire / – New York Community Bancorp, Inc. (NYSE: NYCB) (the “Company”) today announced that it has joined the new Minority Depository Institutions Innovation Committee (the “Committee”) . The committee will serve as a vital avenue for modernizing the technological capabilities of minority depositories, many of which are underinvested in technology. The Company joins 13 other banks on the Committee. Other committee members include Figure Technologies, Inc., JAM FINTOP, and the National Black Bank Foundation (“NBBF”), a nonprofit racial justice organization that aims to ensure communities of color can access capital and create wealth thanks to a strong black banking sector.
The NBBF is partnering with JAM FINTOP in this initiative which brings together experts from various disciplines including the financial services industry, regulation and FinTech to support black banks and their constituents.
President, President and Chief Executive Officer, Thomas R. Cangemi commented: “We are pleased to join the MDI Innovation Committee, in partnership with several other banks. I sincerely believe that the committee and the relationship formed between NBBF and JAM FINTOP will be a force for change and will have a positive impact on the communities served by minority deposit-taking institutions.
About the community of New York Bancorp, Inc.
Situated at Hicksville, New York, New York Community Bancorp, Inc. is a leading producer of multi-family loans on non-luxury, rent-regulated apartment buildings in New York City, and the parent company of New York Community Bank. As of June 30, 2021, the Company declared assets of $ 57.5 billion, loans from $ 43.6 billion, deposits of $ 34.2 billion, and the shareholders’ equity of $ 6.9 billion.
Reflecting our growth through a series of acquisitions, the company operates 236 branches across eight local divisions, each with a history of service and strength: Queens County Savings Bank, Roslyn Savings Bank, Richmond County Savings Bank, Roosevelt Savings Bank and Atlantic Bank at new York; Garden State Community Bank at New Jersey; Ohio Savings Bank at Ohio; and AmTrust Bank in Florida and Arizona.
About the National Black Bank Foundation
The nonprofit National Black Bank Foundation and its investment unit, the Black Bank Fund, was established in 2020 to uplift black-owned banks and the communities they serve. In collaboration with business and philanthropic partners, the Foundation provides legal, regulatory and operational assistance to black banks while the Fund will invest $ 250 million direct level 1 capital in existing black banks through share purchases. Learn more about www.NBBFoundation.org.
About JAM FINTOP
JAM FINTOP is a joint venture between JAM Special Opportunity Ventures (“JSOV”), a subsidiary of Jacobs Asset Management (“JAM”), and FINTOP Capital. The partnership brings together banking experts and seasoned fintech entrepreneurs to invest in companies that are changing the way financial institutions and their customers move, track and interact with money. JAM, a subsidiary of JSOV, has been investing in public and private community banks for 26 years, and FINTOP Capital is a leading financial technology investor with over 140 years of collective experience. JAM and JSOV are not affiliated with FINTOP Capital.
JAM FINTOP Banktech raised $ 150 million in April 2021 to help accelerate the adoption of technology in community banks through United States. Uniquely, the fund’s 66 sponsors are community banks. The $ 600 billion and more in combined assets of the fund’s limited partners would rank fifth among banks in the country. JAM FINTOP’s second fund, JAM FINTOP Blockchain, will invest in blockchain infrastructure, ramps and businesses. With Figure and NYCB as lead investors, it is currently being marketed to qualified buyers. For more information visit www.jamfintop.com.
Investor and media contact:
Salvatore J. DiMartino
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SOURCE New York Community Bancorp, Inc.