New York Community Bancorp said Wednesday that its purchase of a failed Midwestern bank last month is already paying off.

Cleveland's AmTrust Bank added to the bottom line in the fourth quarter while delivering a large new base of surprisingly sticky, low-cost deposits. After raising capital to finance the acquisition, the Westbury, N.Y., lender is sitting on a massive stockpile of cash — about $2.7 billion — that it can lend out at attractive rates or use to buy other banks.

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