New York Community Bancorp (NYCB 0.55%) announced earnings today and reported a net income of $120.1 million and earnings per share of $0.27 for the fourth quarter of 2013, up slightly from the $0.26 EPS posted in the third quarter of 2013 and down slightly from the EPS of $0.28 seen in the fourth quarter of 2012.

For the full year, net income at New York Community Bancorp stood at $475.6 million versus $501.1 million in 2012. EPS were also down slightly to $1.08 in 2013, from $1.13 in 2012.

"I'm pleased to say that 2013 was truly a year of achievement -- some of it measured by volume and some by quality. Not only were our earnings strong, at $475.5 million, so too were our capital measures," said New York Community Bancorp CEO Joseph R. Ficalora in a statement. "The quality of our assets improved and our loan book grew, both significantly. Loans produced for investment exceeded our previous record, as did our prepayment penalty income."

The biggest reason for decline in earnings was a massive reduction in mortgage banking income, which fell from $178.6 million in the full year 2012, to $78.3 million in 2013, a decrease of 56%. The company highlighted that this reduction was the result of weakened mortgage lending and refinancing as a result of interest rate increases. However, it did highlight that its multifamily loans -- those for apartment complexes and the like -- rose to $7.4 billion, an increase of 28% versus 2012 levels.

The company also affirmed that it would continue its $0.25 quarterly dividend, which would mark the 40th consecutive quarter in a row it issued a dividend.

"2013 was a significant year for every one of these reasons, but also for the fact that it marked our 20th year as a public company," Ficalora concluded. "Looking back, I am especially struck by the enduring strength of our balance sheet -- which, in turn, reflects the consistency of our business model -- even as our assets have grown from $1.1 billion to $46.7 billion over the past 20 years."