A holding Company for the New York Community Bank, which produces, multi-family mortgage loans for portfolio in New York City and a thrift depository in the New York metropolitan region.
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They have been designated as one of the stronger banks to take over many failed institutions. Also, in New York, the mortgages they hold have are mostly commercial and have required 40% equity which is a good hedge against excessive forclosures. They seem to have an excellent business model which makes me believe they will initiate new ways to grow outside of real estate loans and their dividends remain outstanding. Overall I believe they are doing well given the times we are in and I strongly feel they could grow to $20 over the next 4 years.