New York Community Bancorp Inc.
0.0 %
71.56 %
Yet to be announced
Company Overview
New York Community Bancorp, Inc. is a leading producer of multi-family loans on non-luxury residential apartment buildings in New York City. The company operates through a network of community banks, providing traditional banking products and services to its customers. In 2023, it acquired significant portions of Signature Bank, expanding its operations and deposit base.
Revenue Sources
As a banking institution, NYCB's primary business model involves lending money and earning interest, which is considered a haram source of income. The financial data shows that interest income consistently makes up the majority of the company's total revenue across all quarters analyzed.
Reliance on Interest
| Reporting Date | Total Revenue | Total Expense | Interest Income | Interest Expense | Interest Income Ratio | Interest Expense Ratio |
|---|---|---|---|---|---|---|
| Sept. 30, 2024 | $623.0m | $1.02b | $510.0m | $1.02b | 81.86% | 100.00% |
| June 30, 2024 | $671.0m | $991.0m | $557.0m | $991.0m | 83.01% | 100.00% |
| March 31, 2024 | $633.0m | $889.0m | $624.0m | $889.0m | 98.58% | 100.00% |
| Dec. 31, 2023 | $867.0m | $707.0m | $740.0m | $707.0m | 85.35% | 100.00% |
The company's business model is fundamentally based on interest. Looking at the most recent four quarters, both interest income and interest expense make up a substantial portion of revenue and expenses, respectively. Interest expense represents over 5% of total expenses in all quarters analyzed, and interest income represents over 80% of total revenue consistently.
Operational Ethics
Based on available information from SEC filings and company reports, there is no evidence of significant ongoing associations with entities involved in human rights violations such as the state of Israel or the Chinese Communist Party.
Login to join the discussion