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New York Community Bancorp Inc. Message Board

  • stilldasdsaammr stilldasdsaammr Apr 2, 2012 10:07 AM Flag

    Aurora? Yuch!

    I don't comprehend this acquisition. For several years now whenener you would see a list of the highest paying CD rates in the country Aurora was always on the list. Basically Aurora was an internet based high CD rate banking concern. Needless to say paying the higher rates helped Aurora become insolvent. So NYB inherits the $2 billion in high interest paying CD's and throws in $32 million of its own monies for good measure. So as these high yielding CD's mature what can NYB offer these customers to retain them as customers? A one year CD paying one quarter of one per cent? From my perspective all they accomplished with this latest acquisition is to move them closer to the $50 billion asset threshold which will put NYB on a Fed stranglehold in their ability to continue paying the lofty dividend. Someone tell me the logic of the Aurora acquisition.

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