New York Community Bank Q1 reflects loan, deposit growth

|About: New York Community Bancorp,... (NYCB)|By:, SA News Editor

New York Community Bancorp (NYSE:NYCB) Q1 results show growth in its loan portfolio, strong deposit inflows, solid asset quality and reduced operating expenses, says NYCB President and CEO Joseph R. Ficalora.

Q1 EPS of 19 cents matches consensus estimate and is unchanged from Q4 2018.

Q1 net interest margin of 2.03%, down 6 basis points from Q4 2018.

During the quarter, its loan portfolio increased $360M, or 4% on an annualized basis vs. the end of 2018, to $40.4B, with all major loan categories showing growth.

Loan Originations of $2.0B, down 6% Q/Q.

Total deposits rose 11% annualized to $31.6B during the quarter.

Total non-interest expenses, excluding the impact of certain items related to severance costs and branch rationalization, were reduced by $5M.

NYCB rises 0.7% in premarket trading.

Previously: New York Community Bancorp EPS in-line, misses on revenue (April 30)

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