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Banks (Finance)

Thomas R. Cangemi Elected as Member Director of the Federal Home Loan Bank of New York

Strategic Insights

— 1 min read

Thomas R. Cangemi, Chairman, President, and Chief Executive Officer of New York Community Bancorp, Inc., has been elected by the Federal Home Loan Bank of New York (FHLBNY) as a Member Director on the FHLBNY board for a four-year term representing New York. Cangemi's term commences on January 1, 2022, and ends on December 31, 2025. As a seasoned executive, Cangemi brings extensive experience in the banking industry, having led New York Community Bancorp, Inc. for many years.

Key Takeaways:

  • Thomas R. Cangemi, Chairman, President, and CEO of New York Community Bancorp, Inc., was elected as a Member Director on the FHLBNY board for a four-year term representing New York, effective January 1, 2022.
  • Cangemi's appointment strengthens the FHLBNY board, allowing it to better serve the needs of its members and the communities they serve, according to José R. González.
  • The FHLBNY board is comprised of experienced professionals who will work closely with Cangemi and the other newly elected Directors to ensure the cooperative remains a reliable strategic partner for its members.
  • New York Community Bancorp, Inc. has a significant presence in the New York metropolitan area, with $57.9 billion in assets, $43.7 billion in loans, and $34.6 billion in deposits as of September 30, 2021.
  • The company operates 236 branches through eight local divisions, serving communities in New York, New Jersey, Ohio, Florida, and Arizona.
  • Cangemi expressed his commitment to working closely with his fellow Directors and management to support the mission of the FHLBNY and strengthen the participation of its members.

Statistics:

  • Federal Home Loan Bank of New York (FHLBNY) has a total of $83.3 billion in assets as of September 30, 2021.
  • New York Community Bancorp, Inc. has reported the following financial metrics as of September 30, 2021:

+ Assets: $57.9 billion

+ Loans: $43.7 billion

+ Deposits: $34.6 billion

+ Stockholders' equity: $7.0 billion

Sources:

  • "New York Community Bancorp, Inc. Chairman, President, and Chief Executive Officer Thomas R. Cangemi Elected as Member Director of the Federal Home Loan Bank of New York" (December 7, 2021) - PR Newswire
  • "About New York Community Bancorp, Inc." - New York Community Bancorp, Inc. (2021)

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