New York Community Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Reports Net Charge-Offs for the Fourth Quarter of 2017; Provides Effective Tax Rate Guidance for the Year 2018
January 31, 2018 at 07:00 am
Share
New York Community Bancorp, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported total interest income of $390,370,000 compared to $415,348,000 a year ago. Net interest income was $270,974,000 compared to $315,520,000 a year ago. Income before income taxes was $144,907,000 compared to $173,776,000 a year ago. Net income available to common shareholders was $128,314,000 or $0.26 per basic and diluted share compared to $113,733,000 or $0.23 per basic and diluted share a year ago. Return on average assets was 1.13% compared to 0.92% a year ago. Return on average common stockholders' equity was 8.21% compared to 7.43% a year ago. Non-GAAP return on average tangible assets was 1.19 % compared to 0.97 % a year ago. Non-GAAP return on average tangible common stockholders' equity was 13.45 % compared to 12.36 % a year ago.
For the year, the company reported total interest income of $1,582,239,000 compared to $1,674,869,000 a year ago. Net interest income was $1,130,003,000 compared to $1,287,382,000 a year ago. Income before income taxes was $668,215,000 compared to $777,128,000 a year ago. Net income available to common shareholders was $441,580,000 or $0.90 per basic and diluted share compared to $495,401,000 or $1.01 per basic and diluted share a year ago. Return on average assets was 0.96% compared to 1.00% a year ago. Return on average common stockholders' equity was 7.12% compared to 8.19% a year ago. Book value per common share as at December 31, 2017 was $12.88 compared to $12.57 a year ago. Non-GAAP return on average tangible assets was 1.01 % compared to 1.06 % a year ago. Non-GAAP return on average tangible common stockholders' equity was 11.72 % compared to 13.75% a year ago. Tangible book value per common share as at December 31, 2017 was $7.89 compared to $7.57 a year ago.
For the fourth quarter of 2017, the company reported net charge-offs $3,798,000 compared to $1,589,000 a year ago.
In 2018, the company's effective tax rate is expected to be about 26.5%.
New York Community Bancorp, Inc. is the bank holding company for Flagstar Bank, N.A. (the Bank). It has various positions in several national businesses, including multifamily lending, mortgage originations and servicing, and warehouse lending. It is a multifamily portfolio lender in the New York City market area, where it specializes in rent-regulated, non-luxury apartment buildings. Its specialty finance loans and leases are generally made to large corporate obligors that participate in stable industries nationwide, and its warehouse loans are made to mortgage lenders across the country. It offers a suite of cash management products to address the needs of small and mid-size businesses and professional associations. The Bank operates about 419 branches, including strong footholds in the Northeast and Midwest and exposure to markets in the Southeast and West Coast. Flagstar Mortgage operates nationally through a wholesale network of about 3,000 third-party mortgage originators.
New York Community Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Reports Net Charge-Offs for the Fourth Quarter of 2017; Provides Effective Tax Rate Guidance for the Year 2018
NEW YORK COMMUNITY BANCORP, INC. 
