I don't disagree with your reasoning. But I think volatility may return to the markets at least in the short term (next 3 months) rationale. Europe and Iran. NYB will be dragged down with rest of market.
All the news in the earnings release is good news.
The market doesn't like the flat earnings. However, NYB is just being prudent in that they are charging off more than needed to the loan loss provision which basically just keeps earnings flat. As non-preforming loans continue to come down NYB in a quarter or two will lower the amount they charge to the provision and the result will be earnings growth and stock price gains.