Struggling NYCB refreshes risk, audit leadership

New York Community Bancorp (NYCB), a mid-sized bank struggling with precarious commercial loans and troubles with its acquisition of the failed Signature Bank last year, named a new chief risk officer and chief audit executive.

George Buchanan III was named the bank’s executive vice president and chief risk officer, while Colleen McCullum was named executive vice president and chief audit executive, according to a press release Friday. The appointments are effective immediately.

NYCB is parent company of Flagstar Bank, a regional bank operating 420 branches. As of Dec. 31, the bank said it has $113.9 billion in assets, $85.8 billion of loans, deposits of $81.4 billion, and total stockholders’ equity of $8.4 billion.