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April 30, 2014
08:05 EDTNYCBNew York Community Bancorp reports Q1 EPS 29c, consensus 26c
Reports loans produced for investment totaled $2.8B in 1Q, including $1.9B of multi-family loans. Reports held-for-investment loans grew $1B, or 13.8%, annualized, from the year-end 2013 balance to $30.9B at March 31. Reports Multi-family loans accounted for $756M of the linked-quarter increase in loans held for investment, having grown 14.6%, annualized, to $21.5B at quarter-end. Reports net charge-offs represented $2.6M, or 0.01%, of average loans in 1Q. The company said, "Reflecting managementís assessment of the adequacy of the allowance for losses on non-covered loans, no provision for such losses was recorded in Q1. In the trailing quarter, the company recorded a provision for losses on non-covered loans of $3M. Non-interest income totaled $37.2M in Q1, down $1.6M from the total recorded in Q4 of last year."
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