New York Community Bancorp posts Q2 loss

NEW YORK, July 23 (Reuters) - New York Community Bancorp Inc (NYB.N), a large New York savings and loan, on Wednesday posted a large second-quarter loss, stemming from a common stock offering and from a $4 billion debt prepayment expected to increase future earnings.

The net loss for the Westbury, New York-based thrift was $154.8 million, or 47 cents per share, and compared with a profit of $36 million, or 12 cents per share, a year earlier.

Operating earnings were $75.1 million, or 23 cents per share, the company said. Analysts on average had expected profit of 25 cents per share, according to Reuters Estimates.

New York Community Bancorp said the debt repositioning should add 12 to 14 cents per share to earnings over the next year, and add 0.25 of a percentage point to net interest margin beginning in the third quarter. (Reporting by Jonathan Stempel; Editing by Gerald E. McCormick)