The scrutiny follows the company’s July 29, 2026, earnings report, which revealed a net loss of $251.3 million, or $1.61 per share. This performance starkly contrasted with analyst forecasts, which had anticipated a gain of $0.40 per share. Management attributed the deficit to a balance-sheet restructuring that involved selling $2.3 billion in lower-yielding securities and offloading $827 million in commercial real estate and multifamily construction loans.

Investors reacted sharply to the disclosure, driving the stock price down 12.23% to close at $18.59 on the day of the announcement. Pomerantz LLP, a firm specializing in corporate and securities litigation, is now soliciting contact from affected shareholders to determine if the restructuring measures or the transparency of the company's financial disclosures violated securities laws.