NYCB 2017 Annual Report

68 Net Interest Income Analysis For the Years Ended December 31, 2017 2016 2015 Average Average Average Average Yield/ Average Yield/ Average Yield/ (dollars in thousands) Balance Interest Cost Balance Interest Cost Balance Interest Cost ASSETS: Interest-earning assets: Mortgage and other loans, net (1) $38,400,003 $1,417,237 3.69% $39,076,298 $1,472,020 3.77% $36,343,407 $1,441,462 3.97% Securities and money market investments (2)(3) 5,213,859 165,002 3.16 4,934,058 202,849 4.11 7,278,562 250,122 3.44 Total interest-earning assets 43,613,862 1,582,239 3.63 44,010,356 1,674,869 3.81 43,621,969 1,691,584 3.88 Non-interest-earning assets 5,011,020 5,289,245 5,248,236 Total assets $48,624,882 $49,299,601 $48,870,205 LIABILITIES AND STOCKHOLDERS’ EQUITY: Interest-bearing liabilities: Interest-bearing checking and money market accounts $12,787,703 $ 98,980 0.77% $13,322,346 $ 62,166 0.47% $12,674,236 $ 46,467 0.37% Savings accounts 5,170,342 28,447 0.55 5,915,020 31,982 0.54 7,546,417 50,776 0.67 Certificates of deposit 8,164,518 102,355 1.25 6,899,706 76,875 1.11 5,698,437 62,906 1.10 Total interest-bearing deposits 26,122,563 229,782 0.88 26,137,072 171,023 0.65 25,919,090 160,149 0.62 Borrowed funds 12,836,919 222,454 1.73 14,059,543 216,464 1.54 14,275,818 1,123,360 (4) 7.87 (4) Total interest-bearing liabilities 38,959,482 452,236 1.16 40,196,615 387,487 0.96 40,194,908 1,283,509 (5) 3.19 (5) Non-interest-bearing deposits 2,782,155 2,860,532 2,660,220 Other liabilities 279,466 190,403 201,441 Total liabilities 42,021,103 43,247,550 43,056,569 Stockholders’ equity 6,603,779 6,052,051 5,813,636 Total liabilities and stockholders’ equity $48,624,882 $49,299,601 $48,870,205 Net interest income/interest rate spread $1,130,003 2.47% $1,287,382 2.85% $408,075 (6) 0.69% (6) Net interest margin 2.59% 2.93% 0.94% (7) Ratio of interest-earning assets to interest-bearing liabilities 1.12x 1.09x 1.09x (1) Amounts are net of net deferred loan origination costs/(fees) and the allowances for loan losses, and include loans held for sale and non-performing loans. (2) Amounts are at amortized cost. (3) Includes FHLB stock. (4) The debt repositioning charge accounted for $773.8 million of the interest expense on borrowed funds and for 542 basis points of the average cost in 2015. (5) The debt repositioning charge accounted for $773.8 million of the interest expense on average interest-bearing liabilities and for 192 basis points of the average cost in 2015. (6) The debt repositioning charge reduced our 2015 net interest income by $773.8 million and our net interest rate spread by 192 basis points. (7) The debt repositioning charge reduced our 2015 net interest margin by 177 basis points.