NYCB Q2 2020 Earnings Report
Key Takeaways
New York Community Bancorp reported a strong second quarter, with diluted EPS of $0.21, up 11% year-over-year and 5% sequentially. Net income available to common shareholders was $97.1 million, up 9% year-over-year and 5% sequentially. The net interest margin increased 17 bps to 2.18% compared to the previous quarter, and pre-provision net revenue totaled $157.7 million, up 19% year-over-year and 16% sequentially.
Diluted EPS of $0.21, up 11% compared to the second quarter of 2019 and up 5% compared to the first quarter of this year.
Net income available to common shareholders for the second quarter was $97.1 million, up 5% on a sequential basis and up 9% compared to the year-ago quarter.
Pre-provision net revenue for the second quarter of 2020 totaled $157.7 million, up 16% relative to the prior quarter and up 19% compared to the second quarter of last year.
The net interest margin increased 17 bps to 2.18% compared to the previous quarter and was up 18 bps on a year-over-year basis.
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Forward Guidance
The company anticipates continued strong performance, driven by multi-family loan growth and robust pipeline.