NYCB income jumps 20 percent as loan originations rise
New York Community Bank headquarters in Westbury, Oct. 29, 2015. Credit: Audrey C. Tiernan
New York Community Bancorp on Wednesday said loan originations helped lift its fourth quarter net income by 20 percent from a year ago, to $136.5 million.
“We originated $3.1 billion of loans held for investment during the quarter, up 34 percent from the previous quarter and 52 percent from the year-ago quarter,” Joseph R. Ficalora, president and chief executive at Westbury-based New York Community Bancorp, said in a call with analysts.
Total loans held for investment increased to $38.4 billion, up $882 million from the prior quarter and $1 billion from year-end 2016.
“We continue to lend prudently and conservatively as reflected again by our asset quality metrics, which continue to be solid,” Ficalora said in a statement.
NYCB is the largest bank based on Long Island in terms of assets. It reported $49.1 billion in assets at the end of the fourth quarter, up less than 1 percent from the same period a year ago.
The bank’s shares closed Wednesday at $14.16, up less than 2 percent. The shares were $14.23 a year ago, adjusted for splits and dividends.
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