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NY Community Bancorp, Suffolk Bancorp post results

Suffolk Bancorp is the Riverhead-based parent of the

Suffolk Bancorp is the Riverhead-based parent of the Suffolk County National Bank. This branch is in Riverhead on May 12, 2011. Credit: Joseph D. Sullivan

Two Long Island-based banking companies, New York Community Bancorp of Westbury and Suffolk Bancorp of Riverhead, announced third-quarter financial results Wednesday.

At New York Community Bancorp, declines in mortgage servicing fees and average yields on assets, plus higher employee compensation and benefits costs, contributed to a 4.6 percent decline in net income from the year-earlier period.

Suffolk Bancorp, parent of the 27-branch Suffolk County National Bank, said its profit rose by 32 percent from a year earlier on higher net interest income and a reduction in total operating expenses.

New York Community, the largest banking company based on Long Island, with 269 branches in five states, said net income for the three months ended Sept. 30 totaled $114.7 million, or 26 cents a share, compared with $120.3 million or 27 cents a share a year earlier.

Total assets at Sept. 30 were $49 billion, up about 1 percent from a year earlier.

The parent of New York Community Bank and several other lending institutions said it originated $2.8 billion in held-for-investment loans in the third quarter.

President and chief executive Joseph R. Ficalora said, "With only 10 weeks remaining in 2015, and a pipeline of $3.1 billion, we believe we're on track to establish a new company record for the volume of held-for-investment loans produced in a single year."

Suffolk Bancorp said net income was $4.9 million or 42 cents a share, up from $3.7 million or 32 cents a share a year earlier. An 11.8 percent increase in net interest income, to $17.4 million, and lower operating expense were partly offset by a reduction in noninterest income and an increase in the bank's provision for loan losses.

Total assets were $2 billion, up 9 percent from Dec. 31.


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