New York Community Bancorp in Acquisition of Atlantic Bank
October 11, 2005
Cleary Gottlieb is representing Citigroup Global Markets Inc. as financial advisor to New York Community Bancorp, Inc. in its acquisition of Atlantic Bank of New York. The $400 million all-cash transaction was announced October 11.
New York Community Bancorp is the holding company for New York Community Bank and the fifth largest thrift in the nation, with total assets of over $25 billion. The acquisition of Atlantic Bank supports NYCB’s strategic focus on increasing commercial deposits and services, and provides NYCB with a footprint in Manhattan.