Hello everyone welcome to Industry Focus Financial's Edition this is Gabby

LaPara here with John Maxfield on the phone and this week we're going to be

talking about really exciting banking news yeah I just flew in from Miami and a guy on the plane told me to make my voice exciting when I talked about banking news so that banking news would also be exciting and I hope it's working for everyone. So this week we're going to lead off with a story about the New York Community Bank

merger with the story of financials.

I think that I kind of want to structure this as I don't know if you all went to Summer Camp.

It's a Rose and a Thorn is a Summer Camp activity that you do where you talk about one rose and one thorn of your day except

we're going to do it with a bank merger.

So Maxfield, I would like for you to start what is one rose about this bank merger? So here's the thing about New bank merger.

So here's the thing about New York Community Bank Corp.

This has been a long-term stock

that dividend investors have absolutely loved

throughout the years because it's yield at something like 70 percent.

The reason it's yield that's such a high number for so long is that it pays out an enormous

share of its earnings in terms to its shareholders via dividend.

So that's basically what the shareholders in the New Community Bank Corp are there for.

Well the great thing about this bank is that its business model, it really protects it or insulates it from a lot of the market

pressures that other banks face.

For example, its business model is focusing on multifamily

owners, lending to owners of rent-controlled

multifamily buildings in the New York City metropolitan area.

And those are apartment buildings for everyone who's not in the like banking slang no

Exactly exactly in the New York and in the New York City area you have some buildings where the rent controls that are that are that are

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