Lower earnings at two large LI banks

Two of the largest banks based on Long Island, New York Community Bancorp and Astoria Financial Corp., reported lower earnings Wednesday for last year's final quarter.

Its net interest income -- the difference between the interest a bank earns on assets like loans and investments and what it pays out to depositors -- was $300.3 million in the fourth quarter, down $4.7 million from a year earlier. New York Community blamed lower yields on interest-earning assets.

New York Community laid off an undisclosed number of its workers in last year's final quarter, including some locally. At the end of 2010 it had 3,883 employees, according to its annual report.

It operates New York Community Bank, with 241 branches in the metropolitan area and elsewhere; and New York Commercial Bank, with 34 branches in the region. Units of New York Community Bank include Queens County Savings Bank, Roslyn Savings Bank, Richmond County Savings Bank, Roosevelt Savings Bank and Atlantic Bank.

The corporation's shares closed Wednesday at $12.87 on the New York Stock Exchange, down 22 cents.

Net interest income for the quarter fell to $87.5 million from $101.2 million a year earlier.

Astoria's shares closed down 25 cents to $9 on the New York exchange.