With its recent acquisition of a failed Ohio bank, New York Community Bank is poised to become one of the nation’s top 15 residential lenders.
In a statement last week, New York Community said it has hired 1,459 employees of AmTrust Bank, which was closed by the Office of Thrift Supervision earlier this month. New York Community acquired $9 billion of the failed bank’s $12 billion in assets, which included $6.8 billion in one- to four-unit residential loans.
AmTrust had 1,728 employees.
Last week’s statement indicated that Westbury, N.Y.-based New York Community — which claims to be “the second largest thrift in the nation” — would maintain the mortgage operations of AmTrust.
From January through September, home loan originations were $20.1 billion at AmTrust, according to the statement.
Based on quarterly data analyzed by MortgageDaily.com, AmTrust ranked among the 15 biggest residential lenders in the country during the first nine months of 2009.
