New York Community Bancorp earnings beat estimates

A Google street view photo of the New

A Google street view photo of the New York Community Bancorp headquarters in Westbury. (Credit: Google)

Westbury-based New York Community Bancorp Inc., the largest Long Island-based bank, reported lower earnings for its second quarter due to less income from interest and mortgage banking.

Net income for the three months ending June 30 was $118.7 million, or 27 cents a share -- down 3.1 percent from $122.5 million during the same period last year.

The financial results beat Wall Street analysts' expectations of earnings of 26 cents per share by a penny. New York Community Bancorp's stock rose more than 2 percent in trading Wednesday after reporting earnings in the morning.

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The company operates under New York Community Bank and other names in five states, and has 126 branch locations in the metropolitan New York area.  It has a stock market value of $7.04 billion.

An earlier version of this story misstated the number of branches New York Community Bank has in New York City.

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