Even Extraordinary Banks Make Mistakes

Joseph Ficalora is one of this era's most successful bank CEOs. He's created an enormous amount of wealth for shareholders of New York Community Bancorp (NYSE: NYCB), delivering one of the industry's best returns on investment over the past quarter-century.

The secret to New York Community Bancorp's success under Ficalora has been rooted in a combination of prudent acquisitions and a business model that maximizes efficiency and minimizes loan losses.

The New York City Skyline. Image source: Getty Images.

Source: Fool.com