NYCB Q2 2021 Earnings Report
Key Takeaways
New York Community Bancorp reported a strong second quarter with diluted EPS of $0.30, up 43% year-over-year, and $0.33 on a non-GAAP basis, up 57% year-over-year. The company experienced net interest margin expansion, lower operating expenses and good loan growth.
Diluted EPS of $0.30, up 43%; non-GAAP diluted EPS of $0.33, up 57%.
Net income available to common shareholders was $144 million, up 48%.
NIM was 2.50%, up two bps sequentially and 32 bps year-over-year.
Total loans held for investment rose $449 million or 4% annualized to $43.6 billion on a linked-quarter basis.
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Forward Guidance
The company is working diligently on the integration planning process with Flagstar, having made significant progress to date including selection of the technology platform and systems.
Positive Outlook
- Continued net interest margin expansion
- Lower operating expenses
- Good loan growth
- Solid credit quality trends
- Significant year-over-year increase in earnings per share