New York Community Bancorp, Inc. (NYSE: NYCB) (the "Company") today reported GAAP earnings of $122.5 million, or $0.28 per diluted share, for the three months ended June 30, 2013, and $241.2 million, or $0.55 per diluted share, for the six months ended at that date. The Company also reported cash earnings of $132.5 million, or $0.30 per diluted share, for the current second quarter and $261.1 million, or $0.59 per diluted share, for the current six-month period. (1)__________Please Note: Footnotes are located on the last page of text. As further discussed in the footnotes, "cash earnings," "tangible assets," "average tangible assets," "tangible stockholders’ equity," "average tangible stockholders’ equity," and the related measures are all non-GAAP financial measures. Commenting on the Company’s second quarter performance, President and Chief Executive Officer Joseph R. Ficalora stated, "There is a lot to like about this year’s second quarter performance, which was highlighted by a linked-quarter increase in earnings, driven by margin expansion and increased efficiency. The quarter was also highlighted by the consistent quality of our assets, robust held-for-investment loan production, and continuing measures of capital strength. "As earnings rose sequentially, to $122.5 million, our return on average tangible assets rose to 1.21% in the quarter, and our return on average tangible stockholders’ equity rose to 15.90%--a 56-basis point increase. (2) "During this time, our margin rose to 3.15%--that’s a 20-basis point increase--as a surge in refinancing activity in our traditional lending niches resulted in a record level of income from prepayment penalties. "Our efficiency ratio also reflected a marked linked-quarter improvement, declining to 41.71% from 43.25%. While non-interest income declined as securities gains and mortgage banking income fell, the impact was more than offset by the growth of our net interest income, together with a reduction in our operating expenses.