New York Community Bank net income drops 3 percent; deposits, assets rise

Westbury-based New York Community Bancorp, the largest bank by assets that is based on Long Island, said Wednesday its net income for the third quarter dropped 3 percent to $110.5 million.

NYCB reported assets of $51.2 billion at the end of the quarter, up 6 percent from the same period a year ago.

The bank said its assets grew primarily due to loan growth, as well as by an increase in deposits.

Total deposits increased 6 percent, year over year, to $30.3 billion, NYCB said. Deposits were up in part because of an increase in certificates of deposit, which closed the third quarter at $11.4 billion, up 30 percent from the third quarter of last year, the bank said.

NYCB shares fell 3.4 percent to close at $9.09. A year ago the shares traded at $12.85.