New York Community Bancorp reports Q3 adjusted EPS (69c), consensus (40c)

Written by Emily J. Thompson, Senior Investment Analyst

Updated: Oct 25 2024

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Q3 Financial Performance: In Q3, net charge-offs decreased to $240M from $349M in Q2 and $24M last year, indicating improved financial health for the bank.
Strategic Progress: The bank experienced strong deposit growth, particularly in the Private Bank sector, leading to a significant reduction in wholesale borrowings by nearly $9 billion, enhancing their funding mix and reducing costs.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.