New York Community Bank nears $50B in assets level

Cash earnings of $0.29 per share comes against the just-declared $0.25 dividend.

Net interest income of $283.5M slips $658K from Q1 with NIM falling six basis points to 2.66%.

Noninterest income of $52.6M rises $15.4M from Q1, and slips $1.2M Y/Y. Much of the sequential rise comes from a gain booked on the sale of $32.2M in non-performing loans tied to a single borrower. Also, mortgage banking income rose a bit sequentially, but fell from a year ago.

Noninterest expense of $147.7M up $1.5M from Q1, and falling $3.8M from a year ago.

Assets of $48.6B puts NYCB near the $50B level at which heightened regulatory scrutiny kicks in. Expect a discussion of this on the 8:30 earnings call as First Republic fell hard last week and hasn't yet gotten up after management noted the elevated expenses associated with going over $50B.

Previously: New York Community Bancorp beats by $0.03, beats on revenue

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs