New York Community Bancorp Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2011. The company generated GAAP earnings of $117.7 million, or $0.27 per basic and diluted share as compared to $119.8 million, or $0.27 per basic and diluted share, in the trailing quarter and $149.8 million, or $0.34 per basic and diluted share, in the fourth quarter of 2010. Net interest income totaled $300.3 million in the current fourth quarter, reflecting a linked-quarter increase of $5.3 million from $294.97 million and a $4.7 million decrease from $304.99 million in the year-earlier amount. For the fourth quarter of 2011, income before income taxes was $180.91 million, operating earnings were $116.97 million, or $0.27 diluted operating earnings per share as compared to income before income taxes was $231.04 million, operating earnings were $140.13 million, or $0.32 diluted operating earnings per share for the same period of previous year. For the fourth quarter 2011, the company generated cash earnings were $127.21 million, or $0.29 per diluted share compared to $162.27 million or $0.37 per diluted share for the same period a year ago. The company generated non-GAAP operating earnings of $117.0 million, or $0.27 per diluted share, and non-GAAP cash earnings of $127.2 million, or $0.29 per diluted share. Total interest income was $464.8 million compared to $480.8 million for the last year. Although interest expense fell $11.2 million year-over-year in the current fourth quarter, the decrease was exceeded by a $16.0 million reduction in interest income during the same time. The decline in interest income was driven by a 36-basis point drop in the average yield on interest-earning assets, as the average yield on loans fell 34 basis points from the year-earlier measure and the average yield on securities and money market investments fell 37 basis points. In the twelve months ended December 31, 2011, the company generated cash earnings were $535.3 million, or $1.23 per diluted share compared to $590.7 million or $1.36 per diluted share a year ago. For the fiscal year 2011, income before income taxes was $734.6 million, operating earnings were $464.43 million, or $1.06 diluted operating earnings per share as compared to income before income taxes was $837.47 million, operating earnings were $530.37 million, or $1.21 diluted operating earnings per share. Net interest income was $1,200.4 million compared to $1,179.9 million a year ago. Total interest income was $1,866.7 million compared to $1,913.8 million for the last year. Net income was $480.0 million or $1.09 per basic and diluted share compared to $541.0 million or $1.24 per basic and diluted share in last year. The Board of Directors of the company also declared quarterly cash dividend of $0.25 per share. The dividend is payable on February 17, 2012 to shareholders of record at the close of business on February 7, 2012.