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New York Community Bancorp reports rise in profits

Joseph R. Ficalora, chief executive and president, New

Joseph R. Ficalora, chief executive and president, New York Community Bancorp Inc., banking, Westbury. Total compensation, as reported, $5,600,683. Credit: Handout

New York Community Bancorp reported Wednesday morning that it had made $131 million in profits in the last quarter ending June 30 -- or earnings per share of 31 cents.

The figures represented a modest increase from the same period last year, when the Westbury bank holding company reported profits of $119 million. It is also up from the previous quarter, when the bank's profits were $118 million.

"Our earnings rose as loan demand grew in our traditional market -- multifamily lending -- and in the nationwide market for one-to-four family loans served by our mortgage bank," NYB's chief executive Joseph Ficalora said in a news release.

The bank saw a significant increase in its revenue from mortgage banking, where income rose to $58.3 million. That figure was $11.7 million for the same period last year.

The company also announced it would pay 25 cent cash dividend to all its shareholders this quarter.

New York Community Bancorp operates New York Community Bank and New York Commercial Bank in the Northeast region.

Photo: New York Community Bancorp chief executive Joseph Ficalora.

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