There could not be two banks more different than Bank of America (NYSE:BAC) and New York Community Bancorp (NYSE:NYCB).

For years, Bank of America has struggled to tame the two forces that define marquee lenders. The nation's second-largest bank by assets has lost tens of billions of dollars due to imprudent risk management. All along the way, it has operated with a bloated expense base that robs shareholders of a reasonable return on investment.

By contrast, New York Community Bancorp has adroitly built one of the best regional banking franchises in America. It has the lowest efficiency ratio in the industry, and few of its loans sour in even the worst of times.

With these points in mind, it should come as no surprise that the challenges facing these lenders could not be more different. As The Motley Fool's John Maxfield and Alison Southwick discuss in the video below, Bank of America is still fighting to justify its 2009 marriage to Merrill Lynch, while New York Community Bancorp is on the hunt for ways to boost its noninterest income.