UPDATE 2-NY Community Bancorp Q3 EPS meets Street, seeks deals

Wed Oct 28, 2009 4:30pm GMT
 
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* Q3 oper EPS $0.26 vs est of $0.26 * Q3 net interest income up 24 pct

* Seeks regulator-backed deals

* Says may raise capital in event of large deal

* Stock up as much as 3 pct (Recasts; Adds conference call details, analyst comment, stock activity)

BANGALORE, Oct 28 (Reuters) - New York Community Bancorp Inc (NYB.N), a top U.S. savings and loan, posted a quarterly profit in-line with analysts' estimates, helped primarily by a growth in net interest income, and said it has a "keen interest" in a regulator-backed deal.

"There are many many investors that have indicated a strong desire to be involved in our issuance of capital... so there's a good likelihood in a deal we will raise capital," Chief Executive Joseph Ficalora said on a conference call with analysts.

Many U.S. banks have increasingly expressed their desire to cash in on the rising bank failures as they look to expand their footprint, with the help of regulators. These transactions include a loss-sharing agreement between the acquirer and the regulator, lowering the credit risk in the deal.

The Westbury, New York-based company earned $98.6 million, or 28 cents a share for the third quarter, compared with $58.1 million, or 17 cents a share, a year ago.

On an operating basis, the company earned 26 cents a share, while cash earnings for the period was 33 cents a share.  Continued...

 

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