The Big Number: $1 Billion

The bank’s deal also included adding former Treasury Secretary Steven Mnuchin to its board and shaking up its leadership for third time in a month.

The bank, which operates more than 400 branches, has been struggling since January, when it posted a $240 million loss in its quarterly earnings report, mostly tied to a steep drop in the value of its real estate loans.

Its troubles didn’t end there.

On March 1, the bank replaced its chief executive after disclosing billions of dollars in new write-downs dating back over a decade.

Now, another management team is working to reassure the bank’s stakeholders that its latest moves will be enough to right itself. On a call on Thursday, the bank’s executives said that its balance sheet would be “fortified” by the cash injection and that it planned to sell assets and diversify its loan portfolio.

The bank’s turmoil comes about a year after the failure of Silicon Valley Bank, which touched off a larger crisis for the industry that resulted in the shuttering of a second bank, a bailout for a third and a takeover of a fourth bank.

Interestingly, some of New York Community Bank’s problems may have an origin there: The lender grew quickly after acquiring a large chunk of the assets of Signature Bank, one of the banks that collapsed.