(Bloomberg) -- New York Community Bancorp, the troubled commercial real estate lender that just got a capital infusion from a group led by Steven Mnuchin, said it will book a gain after selling a portfolio of consumer loans with a net book value of $899 million as well as a co-op loan.

The bank sold the co-op loan on Feb. 29, after the firm had booked a $112 million charge-off tied to it in its fourth-quarter results, according to a 10-K filing Thursday. The sale resulted in a gain of $26 million from the previously written-down fair value estimate, NYCB said in the filing, which had been delayed after the Hicksville, New York-based lender identified material weaknesses in how it tracked loan risks.

NYCB said that the two transactions will be recorded in this quarter’s earnings and result in a net gain.

Read More: NYCB Flags Weaknesses in Loan Oversight and Names New CEO

NYCB earlier this week completed a deal to raise more than $1 billion of capital through an equity investment by backers led by Mnuchin, who was secretary of the US Treasury under President Donald Trump. The investment was anchored by Mnuchin’s Liberty Strategic Capital, as well as Hudson Bay Capital and Reverence Capital Partners, and he was appointed lead independent director as part of the deal.

Read More: NYCB Closes Deal With Mnuchin-Led Investors for Capital Infusion

In the filing Thursday, NYCB expanded on its previous disclosure of material weaknesses around internal loan review, saying that its processes “lacked an appropriate framework to ensure that ratings were consistently accurate, timely and appropriately challenged.”

“These ineffective controls impact the company’s ability to accurately disclose loan-rating classifications, identify problem loans and ultimately the recognition of the allowance for credit losses on loans and leases,” the bank said in the filing.

NYCB also gave details of a remediation process for strengthening its internal control over financial reporting, including the appointment of new board members as well as new risk and audit executives. The firm also said it’s increasing the frequency and nature of reporting from its internal loan-review team to the board’s risk committee, as well as other steps including greater use of independent credit analysis.

The bank is in the process of identifying a new director of loan review with “prior large-bank commercial-loan experience,” it said.

“Progress has been made on our remedial actions, but we are still in the process of developing and implementing enhanced processes, procedures and controls related to internal loan review,” NYCB said. “We believe our actions will be effective in remediating the material weaknesses, and we continue to devote significant time and attention to these efforts.”

Additionally, the company noted that within its $18.3 billion portfolio of rent-regulated multifamily loans in the New York state, roughly 38% are in an interest-only period.

The bank’s shares were down 0.9% at 1:52 p.m. New York time, better than the KBW Regional Banking Index’s 2.4% decline. 

RBC Capital Markets analyst Jon Arfstrom, who has a sector-perform rating on NYCB’s shares, said the main takeaways from the filing are that the company’s comments remain consistent with past statements by management, and that the loan sales were “incremental slight positives.”

“NYCB’s delayed 10-K filing indicates more advances in shoring up the balance sheet, while the sale of $899 million in consumer loans at a gain looks to improve capital,” Bloomberg Intelligence analyst Herman Chan wrote in a research note. “The bank noted progress on addressing material weakness and internal controls but didn’t provide a timeline for remediation.”

--With assistance from Patrick Clark.

(Updates with additional details from filing, stock move, analyst commentary starting in ninth paragraph.)

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