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NYCB stock surges, CEO says path to profitability in sight

Shares of New York Community Bancorp (NYCB) are surging after CEO Joseph Otting claimed that the company has a "clear path to profitability over the following two years." In addition, the bank has reportedly put money aside to ease the burden of loan losses.

Catalysts Anchors Seana Smith and Madison Mills break down the regional bank's reported first-quarter losses.

For more expert insight and the latest market action, click here to watch this full episode of Catalysts.

This post was written by Nicholas Jacobino and updated by Melanie Riehl