- New York Community Bancorp (NYSE:NYCB) Q4 results reflect regulatory changes easing compliance burdens on banks with less than $250B in assets, allowing it to resume balance sheet growth.
- Q4 EPS of 19 cents, in line with consensus estimate, vs. 20 cents in Q3 and 26 cents in the year-earlier quarter.
- Q4 net interest income of $247.2M, down 1% from Q3; net interest margin of 2.09%, down 7 basis points from Q3, due to higher funding costs driven by four Fed interest rates hike over the past year.
- Loans held for investment, net, totaled $40.0B at Dec. 31, 2018, up 3% Q/Q on an annualized basis; loan growth driven by flagship multi-family loan product.
- Current loan pipeline at $1.1B, including $800M in multifamily loans, $94M in CRE loans, and $182M in specialty finance loans.
- "While we expect to continue to grow our loan portfolio at a mid-single digit pace, we continue to adhere to our strict underwriting standards," says President and CEO Joseph R. Ficalora.
- Book value per share of $12.99 at Dec. 31, 2018 vs. $12.83 at Sept. 30, 2018.
- Conference call at 8:30 AM ET.
- Previously: New York Community Bancorp EPS and revenue in-line (Jan. 30)
- Now read: New York Community Bancorp EPS and revenue in-line
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