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Jackie Stewart

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Joseph Ficalora, New York Community's CEO, told analysts that his company could still have a chance to buy Astoria "down the road."
The New York company may struggle with profitability as it decides whether to find a new buyer.
Profits at Astoria Financial in Lake Success, N.Y., fell along with net interest income in the fourth quarter.
The phrase "it is what it is" came up several times as CEO Joseph Ficalora addressed analysts' questions about nixing plans to buy Astoria and the challenges of getting another deal done.
The company wants a big deal to help push it over $50 billion of assets, at which point it will be considered systematically important.
Kenneth Mahon, the new CEO of Dime Community Bank, wants to reduce the 152-year-old institution's multifamily exposure by diversifying into other asset classes. But finding new business amid already fierce competition could be an immense challenge for Dime and other community banks in 2017.
Regulators have warned about the dangers of high commercial real estate concentrations despite bankers' assertions that they are managing risk better compared to the financial crisis. Still, CRE concerns could influence M&A and loan diversification in 2017.
So now what? New York Community Bancorp and Astoria Financial have been mum about why they nixed their merger agreement, or where they go next, but the companies have a surprising number of options in the current climate.
The pending purchase of Carlile Bancshares will lower Independent's concentration in commercial real estate, while introducing the company to fast-growing markets in Texas and Colorado.
New York Community Bancorp will not receive regulatory approval for its deal to buy Astoria Financial by the end of the year as initially planned.
The Bancorp's stock fell nearly 15% Friday after the Wilmington, Del., company reported a large quarterly loss tied to a bad commercial real estate loan.
The acquisition of Middleburg Financial would create a nearly $2.5 billion-asset bank in northern Virginia with strong mortgage originations and a growing wealth management business. It would provide an endgame for Middleburg while also making Access more appealing to potential buyers.
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