Three locally based banking companies, New York Community Bancorp, First of Long Island and Suffolk Bancorp, Wednesday reported their fourth quarter net incomes rose from a year earlier.
Westbury-based New York Community, the largest bank headquartered on Long Island, said it earned $122.8 million, or 28 cents a share, in the three months ended Dec. 31, up 4.4 percent from a year earlier. The company cited the nationwide origination of one-to-four family home loans for sale.
New York Community had assets of $44.1 billion at the end of last year, up 5 percent from a year earlier.
New York Community Bancorp has two bank subsidiaries: New York Community Bank, a thrift with 240 branches in metropolitan New York and in New Jersey, Ohio, Florida, and Arizona; and New York Commercial Bank, with 34 branches in Manhattan, Queens, Brooklyn, Long Island, and Westchester County.
The Glen Head-based parent of the 35-branch First National Bank of Long Island said earnings in the fourth quarter rose by 6.8 percent to $5.1 million or 56 cents a share.
It cited a decrease in the provision for loan losses and an increase in noninterest income. First of Long Island said total assets at year end were $2.1 billion, up 4.2 percent from a year earlier.
Suffolk Bancorp, the Riverhead-based parent of Suffolk County National Bank, said its net income was $2 million, or 18 cents a share, up 67 percent from a year earlier. It cited an increase in noninterest income from the sale of loans and a reduction in the provision for loan losses last year. Suffolk Bancorp has 30 branches, all in Suffolk County. The company had total assets of $1.6 billion at the end of last year, up nine percent from a year earlier.