This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

New York Community Bancorp, Inc. Reports Third Quarter 2012 Diluted Non-GAAP Cash EPS Of $0.32(1) And Diluted GAAP EPS Of $0.29

New York Community Bancorp, Inc. (NYSE: NYB) (the “Company”) today reported GAAP earnings of $128.8 million, or $0.29 per diluted share, for the three months ended September 30, 2012, generating a 1.29% return on average tangible assets and a 17.10% return on average tangible stockholders’ equity. (2)

_________

Note: Please see the last page of this release for all footnotes to the text. As further discussed in the footnotes, “cash earnings,” “tangible assets” and “average tangible assets,” “tangible stockholders’ equity” and “average tangible stockholders’ equity,” and the related measures are non-GAAP financial measures.

The Company also reported non-GAAP cash earnings of $139.2 million, or $0.32 per diluted share, for the current third quarter, which contributed $10.4 million, or 8.1%, more to tangible stockholders’ equity than its third-quarter GAAP earnings alone. (1)(2)

For the nine months ended September 30, 2012, the Company reported GAAP earnings of $378.3 million, representing a year-over-year increase of $15.9 million and a $0.04 rise in diluted earnings per share to $0.86. During this time, the Company’s non-GAAP cash earnings were $409.0 million, or $0.93 on a diluted per-share basis, and contributed $30.8 million, or 8.1%, more to tangible stockholders’ equity than its nine-month GAAP earnings alone. (1)(2)

Commenting on the Company's third quarter results, President and Chief Executive Officer Joseph R. Ficalora stated, “We are very pleased by the continued strength of our financial performance, and by the contribution to earnings of our two-pronged lending strategy.

“Reflecting our diversified revenue stream and the quality of our assets, we recorded third quarter GAAP earnings of $128.8 million and extended our record of industry-leading returns. In the three months ended September 30, 2012, our earnings produced a 1.29% return on average tangible assets, and a return on average tangible stockholders’ equity of 17.10%. In the nine months ended at that date, our returns also were solid--with GAAP earnings of $378.3 million producing respective returns of 1.30% and 16.87%. On a diluted per-share basis, our earnings were $0.29 in the quarter, bringing our year-to-date earnings to $0.86 per diluted share. (2)

“While multi-family lending remains our primary focus--third quarter originations exceeded $1.6 billion--we continue to reap the benefits of our mortgage banking operation, which funded $2.9 billion of loans for sale in the last three months alone. With mortgage rates at historical lows and more homeowners refinancing, mortgage banking income totaled $52.6 million in the quarter--more than twice the amount we recorded in the third quarter of last year.

1 of 18

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,943.81 +28.74 0.17%
S&P 500 1,967.57 +2.89 0.15%
NASDAQ 4,415.49 +19.2860 0.44%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs