From CNBC:

Embattled New York Community Bank attempts to calm investors by disclosing financial details of deposits and liquidity, promoting chairman Alessandro DiNello to a more involved role the same day. Stock prices climbed 6% on the news but later fell 6%, reflecting a crisis of confidence. Moody’s downgrades a company’s credit rating. The bank faces shareholder lawsuits over real estate assets.
NYCB recently sent stock values of regional banks tumbling by announcing larger-than-expected provisions for loan losses due to struggles in the commercial real estate market. The bank cut its dividend by 71%, further damaging investor confidence. This news has shifted investor sentiment and has investors concerned about the acceleration of commercial real estate nonperforming loans and loan losses.
Real estate risk still looms large as office buildings and multifamily properties in New York face lower occupancy rates and plunging values which add to the challenges banks are facing, adding to negative investor sentiment.
Speculators are betting heavily on NYCB’s stock falling further. Treasury Secretary Janet Yellen is concerned about commercial real estate losses while bank regulators work on making necessary adjustments in the financial system. Wells Fargo analysts believe that regulators will adopt a more critical stance on reserving for possible loan losses following the NYCB debacle.



Read more: NYCB reignites banking industry, commercial real estate fears