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.
Sarra Sounds Off, Season 3, Ep 4: Top football teams in action, fantasy update and plays of the week Gregg Sarra sounds off on the Nassau Conference II football matchup between Calhoun at Carey, plus the comeback story of New Hyde Park's Gabriel Peter, an update on the high school fantasy football standings and the plays of the week.
Sarra Sounds Off, Season 3, Ep 4: Top football teams in action, fantasy update and plays of the week Gregg Sarra sounds off on the Nassau Conference II football matchup between Calhoun at Carey, plus the comeback story of New Hyde Park's Gabriel Peter, an update on the high school fantasy football standings and the plays of the week.
