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New York Community Bancorp Q1 Profit Down - Quick Facts

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New York Community Bancorp Inc. (NYB: Quote) reported that its first-quarter GAAP earnings were $118.3 million, or $0.27 per share, down from $123.2 million, or $0.28 per share in the year ago quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $0.26 per share. Analysts' estimates typically exclude special items.

Operating earnings totaled $117.8 million or $0.27 per share, compared to $117.2 million or $0.27 per share in the year ago quarter.

Net interest income for the quarter declined to $288.41 million from $303.25 million in the prior year quarter. Total non-interest income was $61.99 million, up from $58.61 million in year ago quarter.

The company said that its board declared quarterly cash dividend of $0.25 per share. The dividend is payable on May 17th to shareholders of record at the close of business on May 7, 2012.

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by RTT Staff Writer

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After moving sharply lower in early trading on Wednesday, stocks have seen continued weakness over the course of the trading session. Will the pullback, the major averages are adding to the modest losses posted in the two previous sessions. With spending on private and public construction both showing notable decreases, the Commerce Department released a report on Wednesday showing an unexpected drop in U.S. construction spending in the month of August. Growth in U.S. manufacturing activity saw a notable slowdown in the month of September, according to a report released by the Institute for Supply Management on Wednesday, with the index of activity in the sector pulling back off a three-year high.
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