Prepayment fees boost income at NYCB as margins slip

Net interest income of $297.3M up $3.1M from Q3 and $7.3M from a year ago. NIM of 2.92% is off 12 basis points from Q3 and 23 bps from a year ago, yet NII gained thanks to $33M of prepayment income - reflecting "particularly robust" activity in multi-family loans even as residential mortgage lending slides. Multi-family loans up 11.3% Y/Y.

For the full year, multi-family originations of $7.4B rose 28.1% from 2012.

Noninterest income of $38.8M fell $11.9M from Q3 and $16.7M from a year ago, with mortgage banking income of just $12.8M compared to $16.2M and $32.6M in the earlier periods.

Noninterest expense of $149.5M fell $853K from Q3 and $5.1M from a year ago.

CC started at 9:30.

NYCB -2.2%

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