New York Community Bancorp reports Q3 adjusted EPS (69c), consensus (40c)
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 25 2024
0mins
Should l Buy ?
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.
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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.
