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New York Community Bancorp, Inc., now reflected in recent company materials as Flagstar Financial, Inc., reports developments for the holding company of Flagstar Bank, N.A., a regional bank with a branch network across the Northeast, Midwest, Southeast and West Coast. News commonly covers quarterly earnings, deposits, loans, commercial real estate exposure, wholesale borrowings, cost initiatives, and common and preferred stock dividends.
Company updates also include commercial and private banking growth, private banking teams, the Specialized Industries Group for C&I lending, investor presentations, board and executive governance matters, and corporate-structure actions involving the bank holding company and its national bank subsidiary.
New York Community Bancorp reported third-quarter 2020 earnings with a diluted EPS of $0.23, reflecting a 10% increase from Q2 and 21% from the previous year. Net income available to common shareholders rose to $107.6 million, up 11% quarter-over-quarter and 18% year-over-year. Pre-provision net revenue reached $167.1 million, a 22% increase year-over-year. The efficiency ratio improved to 43.47%, and net interest margin increased to 2.29%. The company declared a quarterly dividend of $0.17 per share, yielding 8.2%.
New York Community Bancorp (NYSE: NYCB) plans to release its third quarter 2020 earnings on October 28, 2020, at 7:00 a.m. ET. A conference call will follow at 8:30 a.m. ET, featuring CEO Joseph R. Ficalora and CFO Thomas R. Cangemi discussing the company's performance. The conference call will be accessible via webcast and available for replay until November 1, 2020. As of June 30, 2020, NYCB reported $54.2 billion in assets, $42.4 billion in loans, $31.7 billion in deposits, and $6.7 billion in stockholders' equity.
New York Community Bancorp (NYSE: NYCB) has declared a quarterly cash dividend of $15.94 per preferred share on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A, translating to $0.3984 per depositary share. The dividend is payable on September 17, 2020, with a record date of September 7, 2020. As of June 30, 2020, the company reported $54.2 billion in assets and $42.4 billion in loans, highlighting its strong financial position.
New York Community Bancorp, Inc. (NYSE: NYCB) announced the passing of Claire Shulman, a respected board member and former Queens Borough President, on August 16, 2020. Shulman served on the board for over 20 years and played a significant role in the economic revitalization of Queens. Her contributions included increasing school seats and supporting local cultural institutions. CEO Joseph R. Ficalora acknowledged her as an icon in the community, and the company expressed condolences to her family. As of June 30, 2020, NYCB reported assets of $54.2 billion and loans of $42.4 billion.
New York Community Bancorp (NYSE: NYCB) reported a 5% sequential increase in net income to $105.3 million for Q2 2020, translating to $0.21 diluted EPS, up 11% year-over-year. The company achieved a 16% rise in pre-provision net revenue to $157.7 million. The net interest margin improved by 17 basis points to 2.18%, driven by lower funding costs. Non-performing assets totaled $63.2 million, while the provision for credit losses decreased 15% to $17.6 million. A quarterly cash dividend of $0.17 per share was declared, representing a yield of 6.6% based on the recent stock price.
New York Community Bancorp, Inc. (NYSE: NYCB) will release its earnings for the second quarter of 2020 on July 29, 2020, at 7:00 a.m. Eastern Time. A conference call will follow at 8:30 a.m., led by CEO Joseph R. Ficalora and CFO Thomas R. Cangemi, discussing the company's performance. The call will also be available via webcast. As of March 31, 2020, the company reported assets of $54.3 billion and loans of $42.3 billion.