Flagstar Financial (FLG) 10-Q 7 May 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page	3 Months Ended
	Mar. 31, 2021shares
Document Information [Line Items]
Amendment Flag	false
Document Type	10-Q
Document Transition Report	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Document Period End Date	Mar. 31, 2021
Entity Central Index Key	0000910073
Current Fiscal Year End Date	--12-31
Entity Registrant Name	NEW YORK COMMUNITY BANCORP, INC.
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	465,063,850
Entity Interactive Data Current	Yes
Document Quarterly Report	true
Entity File Number	1-31565
Entity Incorporation, State or Country Code	DE
City Area Code	516
Local Phone Number	683-4100
Entity Tax Identification Number	06-1377322
Entity Address, Address Line One	615 Merrick Avenue
Entity Address, City or Town	Westbury
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	11590
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common Stock
Security Exchange Name	NYSE
Trading Symbol	NYCB
Bifurcated Option Note Unit SecuritiES
Document Information [Line Items]
Title of 12(b) Security	Bifurcated Option Note Unit SecuritiES
Security Exchange Name	NYSE
Trading Symbol	NYCB PU
Fixed-to-Floating Rate Series A Noncumulative Perpetual Preferred Stock
Document Information [Line Items]
Title of 12(b) Security	Depository Shares each representing
Security Exchange Name	NYSE
Trading Symbol	NYCB PA

Consolidated Statements of Cond

Consolidated Statements of Condition - USD ($) $ in Thousands		Mar. 31, 2021		Dec. 31, 2020
Assets:
Cash and cash equivalents		$ 2,722,915		$ 1,947,931
Securities:
Debt securities available-for-sale ($1,242,310 and $1,278,177 pledged at March 31, 2021 and December 31, 2020, respectively) (Allowance for credit losses of $0 at March 31, 2021 and December 31, 2020)		6,177,905		5,813,333
Equity investments with readily determinable fair values, at fair value		15,801		31,576
Total securities		6,193,706		5,844,909
Loans held for sale	[1]	141,435		117,136
Loans and leases held for investment, net of deferred loan fees and costs		43,125,139		42,883,598
Less: Allowance for credit losses on loans and leases		(197,758)		(194,043)
Total loans and leases held for investment, net		42,927,381		42,689,555
Total loans and leases held for investment and held for sale, net		43,068,816		42,806,691
Federal Home Loan Bank stock, at cost		698,984	[2]	714,005	[3]
Premises and equipment, net		282,407		287,447
Operating lease right-of-use assets		262,196		266,864
Goodwill		2,426,379		2,426,379
Bank-owned life insurance		1,165,765		1,164,196
Other real estate owned and other repossessed assets		8,153		8,318
Other assets		827,571		839,380
Total assets		57,656,892		56,306,120
Deposits:
Interest-bearing checking and money market accounts		12,665,002		12,610,073
Savings accounts		7,043,602		6,415,608
Certificates of deposit		9,614,298		10,330,680
Non-interest-bearing accounts		4,874,234		3,080,452
Total deposits		34,197,136		32,436,813
Wholesale borrowings:
Federal Home Loan Bank advances		14,302,661		14,627,661
Repurchase agreements		800,000		800,000
Total wholesale borrowings		15,102,661		15,427,661
Junior subordinated debentures		360,362		360,259
Subordinated notes		295,764		295,624
Total borrowed funds		15,758,787		16,083,544
Operating lease liabilities		262,169		266,846
Other liabilities		642,360		677,273
Total liabilities		50,860,452		49,464,476
Stockholders’ equity:
Preferred stock at par $0.01 (5,000,000 shares authorized): Series A (515,000 shares issued and outstanding)		502,840		502,840
Common stock at par $0.01 (900,000,000 shares authorized; 490,439,070 and 490,439,070 shares issued; and 465,074,384 and 463,901,808 shares outstanding, respectively)		4,904		4,904
Paid-in capital in excess of par		6,103,251		6,122,690
Retained earnings		552,566		494,229
Treasury stock, at cost (25,364,686 and 26,537,262 shares, respectively)		(245,005)		(257,541)
Accumulated other comprehensive loss, net of tax:
Net unrealized (loss) gain on securities available for sale, net of tax of $16,051 and ($25,072), respectively		(41,809)		66,880
Net unrealized loss on pension and post-retirement obligations, net of tax of $20,198 and $21,898, respectively		(54,855)		(59,345)
Net unrealized loss on cash flow hedges, net of tax of $9,658 and $12,519, respectively		(25,452)		(33,013)
Total accumulated other comprehensive loss, net of tax		(122,116)		(25,478)
Total stockholders’ equity		6,796,440		6,841,644
Total liabilities and stockholders’ equity		$ 57,656,892		$ 56,306,120
[1]	Includes deferred loan origination fees of $ 3.8 million and $ 1.7 million at March 31, 2021 and December 31, 2020, respectively
[2]	Carrying value and estimated fair value are at cost.
[3]	Carrying value and estimated fair value are at cost.

Consolidated Statements of Co_2

Consolidated Statements of Condition (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Securities Available-for-sale, pledged	$ 1,242,310	$ 1,278,177
Preferred stock, par	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, Series A shares issued	515,000	515,000
Preferred stock, Series A shares outstanding	515,000	515,000
Common stock, par	$ 0.01	$ 0.01
Common stock, shares authorized	900,000,000	900,000,000
Common stock, shares issued	490,439,070	490,439,070
Common stock, shares outstanding	465,074,384	463,901,808
Treasury stock, shares	25,364,686	26,537,262
Net unrealized (loss) gain on securities available for sale, tax	$ 16,051	$ (25,072)
Net unrealized loss on pension and post-retirement obligations, tax	20,198	21,898
Cash flow hedges tax component	9,658	12,519
Debt Securities, allowance for credit losses	$ 0	$ 0

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Interest Income:
Loans and leases	$ 383,430	$ 391,911
Securities and money market investments	39,678	49,131
Total interest income	423,108	441,042
Interest Expense:
Interest-bearing checking and money market accounts	8,652	28,564
Savings accounts	6,255	8,934
Certificates of deposit	18,471	79,555
Borrowed funds	72,071	79,522
Total interest expense	105,449	196,575
Net interest income	317,659	244,467
Provision for credit losses	3,569	20,601
Net interest income after provision for credit losses	314,090	223,866
Non-Interest Income:
Fee income	5,539	7,018
Bank-owned life insurance	6,890	7,389
Net (loss) gain on securities	(483)	534
Other	2,461	1,958
Total non-interest income	14,407	16,899
Operating expenses:
Compensation and benefits	78,026	79,451
Occupancy and equipment	21,481	17,875
General and administrative	32,894	28,196
Total non-interest expense	132,401	125,522
Income before income taxes	196,096	115,243
Income tax expense	50,500	14,915
Net income	145,596	100,328
Preferred stock dividends	8,207	8,207
Net income available to common shareholders	$ 137,389	$ 92,121
Basic earnings per common share	$ 0.29	$ 0.20
Diluted earnings per common share	$ 0.29	$ 0.20
Net income	$ 145,596	$ 100,328
Other comprehensive loss, net of tax:
Change in net unrealized loss on securities available for sale, net of tax of $41,123 and $4,611, respectively	(108,689)	(12,157)
Change in pension and post-retirement obligations, net of tax of ($1,238) and ($19), respectively	3,271	45
Change in net unrealized gain (loss) on cash flow hedges, net of tax of $(1,245) and $13,397, respectively	3,287	(35,888)
Less: Reclassification adjustment for sales of available-for-sale securities, net of tax of $0; $206, respectively	0	(543)
Reclassification adjustment for defined benefit pension plan, net of tax of ($462), ($487), respectively	1,219	1,288
Reclassification adjustment for net gain (loss) on cash flow hedges included in net income, net of tax of ($1,617) and $178, respectively	4,274	(467)
Total other comprehensive loss, net of tax	(96,638)	(47,722)
Total comprehensive income, net of tax	$ 48,958	$ 52,606

Consolidated Statements of In_2

Consolidated Statements of Income and Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Change in net unrealized loss on securities available for sale, tax	$ 41,123	$ 4,611
Change in pension and post-retirement obligations, tax	(1,238)	(19)
Cash flow hedge, gain (loss), reclassification, tax	(1,245)	13,397
Reclassification adjustment for sales of available-for-sale securities, tax	0	206
Reclassification adjustment for defined benefit pension plan, net of tax	(462)	(487)
Cash flow hedges tax component	$ (1,617)	$ 178

Consolidated Statement of Chang

Consolidated Statement of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment		Adjusted Balance	Common Stock (Par Value: $0.01)	Preferred Stock (Par Value: $0.01)	Paid-in Capital in Excess of Par	Retained Earnings	Retained EarningsCumulative Effect, Period of Adoption, Adjustment		Retained EarningsAdjusted Balance	Treasury Stock, at Cost	Accumulated Other Comprehensive Loss, Net of Tax
Balance at Dec. 31, 2019	$ 6,711,694	$ (10,468)	[1]	$ 6,701,226	$ 4,904	$ 502,840	$ 6,115,487	$ 342,023	$ (10,468)	[1]	$ 331,555	$ (220,717)	$ (32,843)
Balance, shares at Dec. 31, 2019					467,346,781
Accounting Standards Update [Extensible List]		us-gaap:AccountingStandardsUpdate201613Member							us-gaap:AccountingStandardsUpdate201613Member
Shares issued for restricted stock, net of forfeitures							(22,198)					22,198
Shares issued for restricted stock, net of forfeitures, shares					2,321,105
Compensation expense related to restricted stock awards	8,251						8,251
Net income	100,328							100,328
Dividends paid on common stock ($0.17)	(79,332)							(79,332)
Dividends paid on preferred stock ($15.94)	(8,207)							(8,207)
Purchase of common stock	(37,159)											(37,159)
Purchase of common stock, shares					(3,307,183)
Other comprehensive income, net of tax	(47,722)												(47,722)
Balance at Mar. 31, 2020	6,637,385				$ 4,904	502,840	6,101,540	344,344				(235,678)	(80,565)
Balance, shares at Mar. 31, 2020					466,360,703
Balance at Dec. 31, 2020	$ 6,841,644				$ 4,904	502,840	6,122,690	494,229				(257,541)	(25,478)
Balance, shares at Dec. 31, 2020					463,901,808
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
Shares issued for restricted stock, net of forfeitures							(28,051)					28,051
Shares issued for restricted stock, net of forfeitures, shares					2,515,942
Compensation expense related to restricted stock awards	$ 8,612						8,612
Net income	145,596							145,596
Dividends paid on common stock ($0.17)	(79,052)							(79,052)
Dividends paid on preferred stock ($15.94)	(8,207)							(8,207)
Purchase of common stock	(15,515)											(15,515)
Purchase of common stock, shares					(1,343,366)
Other comprehensive income, net of tax	(96,638)												(96,638)
Balance at Mar. 31, 2021	$ 6,796,440				$ 4,904	$ 502,840	$ 6,103,251	$ 552,566	$ 10,500			$ (245,005)	$ (122,116)
Balance, shares at Mar. 31, 2021					465,074,384
[1]	Amount represents a $ 10.5 million cumulative adjustment, net of tax, to retained earnings as of January 1, 2020, as a result of the adoption of ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which became effective January 1, 2020.

Consolidated Statement of Cha_2

Consolidated Statement of Changes in Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Balance		$ 6,841,644	$ 6,711,694
Accounting Standards Update [Extensible List]		us-gaap:AccountingStandardsUpdate201613Member
Cumulative Effect, Period of Adoption, Adjustment
Balance	[1]		$ (10,468)
Accounting Standards Update [Extensible List]			us-gaap:AccountingStandardsUpdate201613Member
Common Stock (Par Value: $0.01)
Dividends paid on common stock, per share		$ 0.17	$ 0.17
Balance		$ 4,904	$ 4,904
Preferred Stock (Par Value: $0.01)
Dividends paid on preferred stock, per share		$ 15.94	$ 15.94
Balance		$ 502,840	$ 502,840
Retained Earnings
Balance		$ 494,229	342,023
Retained Earnings | Cumulative Effect, Period of Adoption, Adjustment
Balance	[1]		$ (10,468)
Accounting Standards Update [Extensible List]			us-gaap:AccountingStandardsUpdate201613Member
[1]	Amount represents a $ 10.5 million cumulative adjustment, net of tax, to retained earnings as of January 1, 2020, as a result of the adoption of ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which became effective January 1, 2020.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Cash Flows from Operating Activities:
Net income		$ 145,596	$ 100,328
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses		3,569	20,601
Depreciation		5,357	6,407
Amortization of discounts and premiums, net		1,344	6,384
Net loss (gain) on securities		483	(534)
Gain on trading activity		(94)	0
Net (gain) loss on sales of loans		(744)	4
Stock-based compensation		8,612	8,251
Deferred tax expense		31,279	44,465
Changes in operating assets and liabilities:
Decrease (increase) in other assets	[1]	7,891	(34,397)
Decrease in other liabilities	[2]	(28,007)	(20,813)
Purchases of securities held for trading		(60,000)	0
Proceeds from sales of securities held for trading		60,094	0
Held for sale originations		(51,766)	0
Net cash provided by operating activities		123,614	130,696
Cash Flows from Investing Activities:
Proceeds from repayment of securities available for sale		495,342	428,098
Proceeds from sales of securities available for sale			369,972
Purchase of securities available for sale		(985,594)	(483,789)
Redemption of Federal Home Loan Bank stock		15,601	72,567
Purchases of Federal Home Loan Bank stock		(580)	(88,875)
Proceeds from bank-owned life insurance, net		7,182	1,772
Proceeds from sales of loans		32,929	3,124
Purchases of loans		(20,723)	(26,300)
Other changes in loans, net		(225,019)	(380,427)
Purchases of premises and equipment, net		(317)	(438)
Net cash used in investing activities		(681,179)	(104,296)
Cash Flows from Financing Activities:
Net increase in deposits		1,760,323	315,634
Net increase in short-term borrowed funds			1,350,000
Proceeds from long-term borrowed funds		325,000	2,150,000
Repayments of long-term borrowed funds		(650,000)	(3,125,000)
Cash dividends paid on common stock		(79,052)	(79,332)
Cash dividends paid on preferred stock		(8,207)	(8,207)
Treasury stock repurchased			(28,924)
Payments relating to treasury shares received for restricted stock award tax payments		(15,515)	(8,235)
Net cash provided by financing activities		1,332,549	565,936
Net increase (decrease) in cash, cash equivalents, and restricted cash		774,984	592,336
Cash, cash equivalents, and restricted cash at beginning of period		1,947,931	741,870
Cash, cash equivalents, and restricted cash at end of period		2,722,915	1,334,206
Supplemental information:
Cash paid for interest		113,189	202,459
Cash paid for income taxes		14,005	10,000
Non-cash investing and financing activities:
Transfers to repossessed assets from loans			120
Securitization of residential mortgage loans to mortgage-backed securities available for sale		20,723	26,300
Transfer of loans from held for investment to held for sale		47,745	3,124
Shares issued for restricted stock awards		$ 28,051	$ 22,198
[1]	Includes $ 4.7 million and $ 4.1 million of amortization of operating lease right-of-use assets for the three months ended March 31, 2021 and 2020 , respectively.
[2]	Includes $ 4.7 million and $ 4.1 million of amortization of operating lease liability for the three months ended March 31, 2021 and 2020 , respectively.

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement Of Cash Flows [Abstract]
Amortization of operating lease right-of-use assets	$ 4.7	$ 4.1
Amortization of operating lease liability	$ 4.7	$ 4.1

Organization, Basis of Presenta

Organization, Basis of Presentation, and Impact of Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Organization, Basis of Presentation, and Impact of Recent Accounting Pronouncements	Note 1. Organization, Basis of Presentation, and Impact of Recent Accounting Pronouncements Organization New York Community Bancorp, Inc. (on a stand-alone basis, the “Parent Company” or, collectively with its subsidiaries, the “Company”) was organized under Delaware law on July 20, 1993 and is the holding company for New York Community Bank (hereinafter referred to as the “Bank”). Founded on April 14, 1859 and formerly known as Queens County Savings Bank, the Bank converted from a state-chartered mutual savings bank to the capital stock form of ownership on November 23, 1993, at which date the Company issued its initial offering of common stock (par value: $ 0.01 per share) at a price of $ 25.00 per share ($ 0.93 per share on a split-adjusted basis, reflecting the impact of nine stock splits between 1994 and 2004) . The Bank currently operates 237 branches, 19 of which operate directly under the Community Bank name. The remaining 218 Community Bank branches operate through eight divisional banks: Queens County Savings Bank, Roslyn Savings Bank, Richmond County Savings Bank, Roosevelt Savings Bank, and Atlantic Bank in New York; Garden State Community Bank in New Jersey; AmTrust Bank in Florida and Arizona; and Ohio Savings Bank in Ohio. Basis of Presentation The following is a description of the significant accounting and reporting policies that the Company and its subsidiaries follow in preparing and presenting their consolidated financial statements, which conform to U.S. generally accepted accounting principles (“GAAP”) and to general practices within the banking industry. The preparation of financial statements in conformity with GAAP requires the Company to make estimates and judgments that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Estimates that are particularly susceptible to change in the near term are used in connection with the determination of the allowance for credit losses and the evaluation of goodwill for impairment. The accompanying consolidated financial statements include the accounts of the Company and other entities in which the Company has a controlling financial interest. All inter-company accounts and transactions are eliminated in consolidation. The Company currently has certain unconsolidated subsidiaries in the form of wholly-owned statutory business trusts, which were formed to issue guaranteed capital securities. See Note 7, Borrowed Funds, for additional information regarding these trusts. When necessary, certain reclassifications have been made to prior-year amounts to conform to the current-year presentation. Impact of Recent Accounting Pronouncements Recently Adopted Accounting Standards The Company adopted ASU No. 2020-04 in the first quarter of 2021 upon issuance. The amendments provide optional expedients and exceptions for certain contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of rate reform. The guidance is effective from the date of issuance until December 31, 2022. If certain criteria are met, the amendments allow exceptions to the designation criteria of the hedging relationship and the assessment of hedge effectiveness during the transition period. To date, the guidance has not had a material impact on the Company’s Consolidated Statements of Condition, results of operations, or cash flows. The Company will continue to assess the impact as the reference rate transition occurs. The Company adopted ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments and its amendments, (“ASU No. 2016-13”) as of January 1, 2020. ASU No. 2016-13 amended guidance on reporting credit losses for assets held on an amortized cost basis and available-for-sale debt securities. For assets held at amortized cost, ASU No. 2016-13 eliminated the probable initial recognition threshold in current GAAP and, instead, requires an entity to reflect its current estimate of all expected credit losses. The amendments in ASU No. 2016-13 replaced the incurred loss impairment methodology with a methodology that reflects the measurement of expected credit losses based on relevant information about past events, including historical loss experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amounts. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of financial assets to present the net amount expected to be collected. For available-for-sale debt securities, credit losses will be presented as an allowance rather than as a write-down. The amendments affected loans, debt securities, trade receivables, off-balance sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. The Company adopted ASU No. 2016-13 on a modified retrospective basis with a cumulative-effect adjustment to retained earnings as of the adoption date and, accordingly, the Company recorded a net of tax decrease of $ 10.5 million to retained earnings as of January 1, 2020. A prospective transition approach was required for debt securities for which an OTTI had been recognized before the effective date. The effect of the prospective transition approach was to maintain the same amortized cost basis before and after the effective date of ASU No. 2016-13. Amounts previously recognized in accumulated other comprehensive income (loss) as of the date of adoption that relate to improvements in cash flows expected to be collected continue to be accreted into income over the remaining life of the asset. Recoveries of amounts previously written off relating to improvements in cash flows after the date of adoption are recorded in earnings when received. The Company adopted, on a prospective basis, ASU No. 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment as of January 1, 2020. ASU No. 2017-04 eliminates the second step of the goodwill impairment test which requires an entity to determine the implied fair value of the reporting unit’s goodwill. Instead, an entity recognizes an impairment loss if the carrying value of the net assets assigned to the reporting unit exceeds the fair value of the reporting unit, with the impairment loss not to exceed the amount of goodwill recorded. ASU No. 2017-04 does not amend the optional qualitative assessment of goodwill impairment. The adoption of ASU No. 2017-04 did not have a material effect on the Company’s Consolidated Statements of Condition, results of operations, or cash flows. During the three months ended March 31, 2021, the Company assessed the current environment, including the estimated impact of the COVID-19 pandemic on macroeconomic variables and economic forecasts and how those might impact the fair value of its reporting unit. After consideration of the items above and the first three months 2021 results, the Company determined it was not more-likely-than-not that the fair value of its reporting unit was below its book value as of March 31, 2021 .

Computation of Earnings per Com

Computation of Earnings per Common Share	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Computation of Earnings per Common Share	Note 2. Computation of Earnings per Common Share Basic EPS is computed by dividing the net income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted EPS is computed using the same method as basic EPS, however, the computation reflects the potential dilution that would occur if outstanding in-the-money stock options were exercised and converted into common stock. Unvested stock-based compensation awards containing non-forfeitable rights to dividends paid on the Company’s common stock are considered participating securities, and therefore are included in the two-class method for calculating EPS. Under the two-class method, all earnings (distributed and undistributed) are allocated to common shares and participating securities based on their respective rights to receive dividends on the common stock. The Company grants restricted stock to certain employees under its stock-based compensation plan. Recipients receive cash dividends during the vesting periods of these awards, including on the unvested portion of such awards. Since these dividends are non-forfeitable, the unvested awards are considered participating securities and therefore have earnings allocated to them. The following table presents the Company’s computation of basic and diluted EPS for the periods indicated: For the Three Months Ended March 31, (in thousands, except share and per share amounts) 2021 2020 Net income available to common shareholders $ 137,389 $ 92,121 Less: Dividends paid on and earnings allocated to ( 1,795 ) ( 1,170 ) Earnings applicable to common stock $ 135,594 $ 90,951 Weighted average common shares outstanding 463,292,906 464,993,970 Basic earnings per common share $ 0.29 $ 0.20 Earnings applicable to common stock $ 135,594 $ 90,951 Weighted average common shares outstanding 463,292,906 464,993,970 Potential dilutive common shares 594,031 418,674 Total shares for diluted earnings per common share 463,886,937 465,412,644 Diluted earnings per common share and common share $ 0.29 $ 0.20

Reclassifications Out of Accumu

Reclassifications Out of Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2021
Reclassifications Of Accumulated Other Comprehensive Loss [Abstract]
Reclassifications Out of Accumulated Other Comprehensive Loss	Note 3: Reclassifications out of Accumulated Other Comprehensive Loss (in thousands) For the Three Months Ended March 31, 2021 Details about Accumulated Other Comprehensive Loss Amount Affected Line Item in the Unrealized gains (losses) on available-for-sale securities: $ — Net gain (losses) on securities — Income tax expense $ — Net gain (losses) on securities, net of tax Unrealized loss on cash flow hedges: $ ( 5,891 ) Interest expense 1,617 Income tax benefit $ ( 4,274 ) Net loss on cash flow hedges, net of tax Amortization of defined benefit pension plan items: Past service liability $ 62 Included in the computation of net periodic credit (2) Actuarial losses ( 1,743 ) Included in the computation of net periodic cost (2) ( 1,681 ) Total before tax 462 Income tax benefit $ ( 1,219 ) Amortization of defined benefit pension plan items, net of tax Total reclassifications for the period $ ( 5,493 ) (1) Amounts in parentheses indicate expense items. (2) See Note 8, “Pension and Other Post-Retirement Benefits,” for additional information.

Securities

Securities	3 Months Ended
	Mar. 31, 2021
Investments Debt And Equity Securities [Abstract]
Securities	Note 4. Securities The following tables summarize the Company’s portfolio of debt securities available for sale and equity investments with readily determinable fair values at March 31, 2021 and December 31, 2020: March 31, 2021 (in thousands) Amortized Gross Gross Fair Value Debt securities available-for-sale Mortgage-Related Debt Securities: GSE certificates $ 1,183,746 $ 40,473 $ 14,901 $ 1,209,318 GSE CMOs 2,007,855 28,837 50,422 1,986,270 Total mortgage-related debt securities $ 3,191,601 $ 69,310 $ 65,323 $ 3,195,588 Other Debt Securities: U. S. Treasury obligations $ 64,993 $ 5 $ — $ 64,998 GSE debentures 1,433,280 2,693 67,632 1,368,341 Asset-backed securities (1) 520,111 4,030 3,368 520,773 Municipal bonds 25,715 482 186 26,011 Corporate bonds 870,886 16,594 5,410 882,070 Foreign notes 25,000 993 — 25,993 Capital trust notes 95,621 6,823 8,313 94,131 Total other debt securities $ 3,035,606 $ 31,620 $ 84,909 $ 2,982,317 Total debt securities available for sale $ 6,227,207 $ 100,930 $ 150,232 $ 6,177,905 Equity Securities: Mutual funds 15,814 116 129 15,801 Total equity securities $ 15,814 $ 116 $ 129 $ 15,801 Total securities (2) $ 6,243,021 $ 101,046 $ 150,361 $ 6,193,706 (1) The underlying assets of the asset-backed securities are substantially guaranteed by the U.S. Government. (2) Excludes accrued interest receivable of $ 14.8 million included in other assets in the Consolidated Statements of Condition. December 31, 2020 (in thousands) Amortized Gross Gross Fair Value Debt securities available-for-sale Mortgage-Related Debt Securities: GSE certificates $ 1,155,436 $ 54,310 $ 136 $ 1,209,610 GSE CMOs 1,786,896 44,691 2,872 1,828,715 Total mortgage-related debt securities $ 2,942,332 $ 99,001 $ 3,008 $ 3,038,325 Other Debt Securities: U.S. Treasury obligations $ 64,984 $ 1 $ — $ 64,985 GSE debentures 1,158,253 3,998 3,949 1,158,302 Asset-backed securities (1) 530,226 2,576 5,703 527,099 Municipal bonds 25,776 625 90 26,311 Corporate bonds 870,745 17,928 6,447 882,226 Foreign notes 25,000 538 — 25,538 Capital trust notes 95,507 5,540 10,500 90,547 Total other debt securities $ 2,770,491 $ 31,206 $ 26,689 $ 2,775,008 Total other securities available for sale $ 5,712,823 $ 130,207 $ 29,697 $ 5,813,333 Equity Securities: Preferred stock $ 15,292 $ 201 $ — $ 15,493 Mutual funds 15,814 269 — 16,083 Total equity securities $ 31,106 $ 470 $ — $ 31,576 Total securities (2) $ 5,743,929 $ 130,677 $ 29,697 $ 5,844,909 (1) The underlying assets of the asset-backed securities are substantially guaranteed by the U.S. Government. (2) Excludes accrued interest receivable of $ 14.9 million included in other assets in the Consolidated Statements of Condition. At March 31, 2021 and December 31, 2020 , respectively, the Company had $ 699.0 million and $ 714.0 million of FHLB-NY stock, at cost. The Company maintains an investment in FHLB-NY stock partly in conjunction with its membership in the FHLB and partly related to its access to the FHLB funding it utilizes. The following table summarizes the gross proceeds, gross realized gains, and gross realized losses from the sale of available-for-sale securities during the three months ended March 31, 2021 and 2020: For the Three Months Ended (in thousands) 2021 2020 Gross proceeds — $ 369,972 Gross realized gains — 1,811 Gross realized losses — 1,062 Net losses on equity securities recognized in earnings for the three months ended March 31, 2021 and 2020 were $ 483,000 and $ 215,000 , respectively. The following table summarizes, by contractual maturity, the amortized cost of securities at March 31, 2021: Mortgage- Average U.S. Average State, Average (1) Other Debt (2) Average Fair (dollars in thousands) Available-for-Sale Debt Securities: Due within one year $ 23,017 3.76 % $ 75,943 0.54 % $ — — % $ 49,817 3.01 % $ 149,348 Due from one to five years 361,118 3.18 21,924 3.52 — — 223,181 1.87 637,035 Due from five to ten years 175,554 2.48 238,052 2.16 19,840 3.51 706,390 2.03 1,146,853 Due after ten years 2,631,912 1.98 1,162,354 1.53 5,875 3.33 532,230 1.25 4,244,669 Total debt securities available for sale $ 3,191,601 2.16 % $ 1,498,273 1.61 % $ 25,715 3.47 % $ 1,511,618 1.76 % $ 6,177,905 (1) Not presented on a tax-equivalent basis. (2) Includes corporate bonds, capital trust notes, and asset-backed securities. The following table presents securities with no related allowance having a continuous unrealized loss position for less than twelve months and for twelve months or longer as of March 31, 2021: Less than Twelve Months Twelve Months or Longer Total (in thousands) Fair Unrealized Fair Unrealized Fair Unrealized Temporarily Impaired Securities: GSE certificates $ 323,281 $ 14,901 $ — $ — $ 323,281 $ 14,901 GSE CMOs 918,257 50,422 — — 918,257 50,422 GSE debentures 1,244,721 67,633 — — 1,244,721 67,633 Asset-backed securities 112,149 405 179,063 2,962 291,212 3,367 Municipal bonds — — 8,744 186 8,744 186 Corporate bonds — — 319,590 5,410 319,590 5,410 Capital trust notes — — 35,601 8,313 35,601 8,313 Equity securities 11,676 129 — — 11,676 129 Total temporarily impaired securities $ 2,610,084 $ 133,490 $ 542,998 $ 16,871 $ 3,153,082 $ 150,361 The following table presents securities having a continuous unrealized loss position for less than twelve months and for twelve months or longer as of December 31, 2020: Less than Twelve Months Twelve Months or Longer Total (in thousands) Fair Unrealized Fair Unrealized Fair Unrealized Temporarily Impaired Securities: U. S. Treasury obligations $ — $ — $ — $ — $ — $ — U. S. Government agency and GSE 58,876 136 — — 58,876 136 GSE certificates 442,207 2,807 73,568 65 515,775 2,872 GSE CMOs 522,441 3,949 — — 522,441 3,949 Asset-backed securities — — 363,618 5,703 363,618 5,703 Municipal bonds — — 8,891 90 8,891 90 Corporate bonds 72,024 2,976 246,528 3,471 318,552 6,447 Foreign notes — — — — — — Capital trust notes — — 33,393 10,500 33,393 10,500 Equity securities — — — — — — Total temporarily impaired securities $ 1,095,548 $ 9,868 $ 725,998 $ 19,829 $ 1,821,546 $ 29,697 The investment securities designated as having a continuous loss position for twelve months or more at March 31, 2021 consisted of five capital trusts notes, five asset-backed securities, five corporate bonds, and one municipal bond. The investment securities designated as having a continuous loss position for twelve months or more at December 31, 2020 consisted of four agency collateralized mortgage obligations, five capital trusts notes, seven asset-backed securities, three corporate bonds, and one municipal bond. The Company evaluates available-for-sale debt securities in unrealized loss positions at least quarterly to determine if an allowance for credit losses is required. Based on an evaluation of available information about past events, current conditions, and reasonable and supportable forecasts that are relevant to collectability, the Company has concluded that it expects to receive all contractual cash flows from each security held in its available-for-sale securities portfolio. We first assess whether (i) we intend to sell, or (ii) it is more likely than not that we will be required to sell the security before recovery of its amortized cost basis. If either of these criteria is met, any previously recognized allowances are charged off and the security’s amortized cost basis is written down to fair value through income. If neither of the aforementioned criteria is met, we evaluate whether the decline in fair value has resulted from credit losses or other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any impairment that has not been recorded through an allowance for credit losses is recognized in other comprehensive income. None of the unrealized losses identified as of March 31, 2021 or December 31, 2020 relates to the marketability of the securities or the issuers’ ability to honor redemption obligations. Rather, the unrealized losses relate to changes in interest rates relative to when the investment securities were purchased, and do not indicate credit-related impairment. Management based this conclusion on an analysis of each issuer including a detailed credit assessment of each issuer. The Company does not intend to sell, and it is not more likely than not that the Company will be required to sell the positions before the recovery of their amortized cost basis, which may be at maturity. As such, no allowance for credit losses was recorded with respect to debt securities as of or during the three months ended March 31, 2021. Management has made the accounting policy election to exclude accrued interest receivable on available-for-sale securities from the estimate of credit losses. Available-for-sale debt securities are placed on non-accrual status when we no longer expect to receive all contractual amounts due, which is generally at 90 days past due. Accrued interest receivable is reversed against interest income when a security is placed on non-accrual status.

Loans and Leases

Loans and Leases	3 Months Ended
	Mar. 31, 2021
Receivables [Abstract]
Loans and Leases	Note 5. Loans and Leases The following table sets forth the composition of the loan portfolio at the dates indicated: March 31, 2021 December 31, 2020 (dollars in thousands) Amount Percent of Amount Percent of Loans and Leases Held for Investment: Mortgage Loans: Multi-family $ 32,195,256 74.77 % $ 32,236,385 75.28 % Commercial real estate 7,027,236 16.32 6,835,763 15.96 One-to-four family 208,108 0.48 235,989 0.55 Acquisition, development, and construction 115,947 0.27 89,790 0.21 Total mortgage loans held for investment (1) 39,546,547 91.84 $ 39,397,927 92.00 Other Loans: Commercial and industrial 1,610,550 3.74 1,682,519 3.93 Lease financing, net of unearned income of 110,582 and $ 116,366 , respectively 1,898,980 4.41 1,734,824 4.05 Total commercial and industrial loans (2) 3,509,530 8.15 3,417,343 7.98 Other 5,593 0.01 6,520 0.02 Total other loans held for investment (1) 3,515,123 8.16 3,423,863 8.00 Total loans and leases held for investment $ 43,061,670 100.00 % $ 42,821,790 100.00 % Net deferred loan origination costs 63,469 61,808 Allowance for credit losses loans and leases ( 197,758 ) ( 194,043 ) Total loans and leases held for investment, net $ 42,927,381 $ 42,689,555 Loans held for sale (3) 141,435 117,136 Total loans and leases, net $ 43,068,816 $ 42,806,691 ( 1) Excludes accrued interest receivable of $ 219.0 million and $ 219.1 million at March 31, 2021 and December 31, 2020 , respectively, which is included in other assets in the Consolidated Statements of Condition. (2) Includes specialty finance loans and leases of $ 3.2 billion and $ 3.0 billion, respectively, at March 31, 2021 and December 31, 2020 , and other C&I loans of $ 350.8 million and $ 393.3 million, respectively, at March 31, 2021 and December 31, 2020 . (3) Includes deferred loan origination fees of $ 3.8 million and $ 1.7 million at March 31, 2021 and December 31, 2020, respectively . Loans Held for Investment The majority of the loans the Company originates for investment are multi-family loans, most of which are collateralized by non-luxury apartment buildings in New York City with rent-regulated units and below-market rents. In addition, the Company originates CRE loans, most of which are collateralized by income-producing properties such as office buildings, retail centers, mixed-use buildings, and multi-tenanted light industrial properties that are located in New York City and on Long Island. To a lesser extent, the Company also originates ADC loans for investment. One-to-four family loans held for investment were originated through the Company’s former mortgage banking operation and primarily consisted of jumbo adjustable rate mortgages made to borrowers with a solid credit history. ADC loans are primarily originated for multi-family and residential tract projects in New York City and on Long Island. C&I loans consist of asset-based loans, equipment loans and leases, and dealer floor-plan loans (together, specialty finance loans and leases) that generally are made to large corporate obligors, many of which are publicly traded, carry investment grade or near-investment grade ratings, and participate in stable industries nationwide; and other C&I loans that primarily are made to small and mid-size businesses in Metro New York. Other C&I loans are typically made for working capital, business expansion, and the purchase of machinery and equipment. The repayment of multi-family and CRE loans generally depends on the income produced by the underlying properties which, in turn, depends on their successful operation and management. To mitigate the potential for credit losses, the Company underwrites its loans in accordance with credit standards it considers to be prudent, looking first at the consistency of the cash flows being produced by the underlying property. In addition, multi-family buildings, CRE properties, and ADC projects are inspected as a prerequisite to approval, and independent appraisers, whose appraisals are carefully reviewed by the Company’s in-house appraisers, perform appraisals on the collateral properties. In many cases, a second independent appraisal review is performed. To further manage its credit risk, the Company’s lending policies limit the amount of credit granted to any one borrower and typically require conservative debt service coverage ratios and loan-to-value ratios. Nonetheless, the ability of the Company’s borrowers to repay these loans may be impacted by adverse conditions in the local real estate market and the local economy. Accordingly, there can be no assurance that its underwriting policies will protect the Company from credit-related losses or delinquencies. ADC loans typically involve a higher degree of credit risk than loans secured by improved or owner-occupied real estate. Accordingly, borrowers are required to provide a guarantee of repayment and completion, and loan proceeds are disbursed as construction progresses, as certified by in-house inspectors or third-party engineers. The Company seeks to minimize the credit risk on ADC loans by maintaining conservative lending policies and rigorous underwriting standards. However, if the estimate of value proves to be inaccurate, the cost of completion is greater than expected, or the length of time to complete and/or sell or lease the collateral property is greater than anticipated, the property could have a value upon completion that is insufficient to assure full repayment of the loan. This could have a material adverse effect on the quality of the ADC loan portfolio, and could result in losses or delinquencies. In addition, the Company utilizes the same stringent appraisal process for ADC loans as it does for its multi-family and CRE loans. To minimize the risk involved in specialty finance lending and leasing, the Company participates in syndicated loans that are brought to it, and equipment loans and leases that are assigned to it, by a select group of nationally recognized sources who have long-term relationships with its experienced lending officers. Each of these credits is secured with a perfected first security interest in or outright ownership of the underlying collateral, and structured as senior debt or as a non-cancelable lease. To further minimize the risk involved in specialty finance lending and leasing, each transaction is re-underwritten. In addition, outside counsel is retained to conduct a further review of the underlying documentation. To minimize the risks involved in other C&I lending, the Company underwrites such loans on the basis of the cash flows produced by the business; requires that such loans be collateralized by various business assets, including inventory, equipment, and accounts receivable, among others; and typically requires personal guarantees. However, the capacity of a borrower to repay such a C&I loan is substantially dependent on the degree to which the business is successful. In addition, the collateral underlying such loans may depreciate over time, may not be conducive to appraisal, or may fluctuate in value, based upon the results of operations of the business. Included in loans held for investment at March 31, 2021 and December 31, 2020 , were loans of $ 7 .0 million and $ 37.5 million, respectively, to certain officers, directors, and their related interests and parties. There were no loans to principal shareholders at that date. Asset Quality A loan generally is classified as a non-accrual loan when it is 90 days or more past due or when it is deemed to be impaired because the Company no longer expects to collect all amounts due according to the contractual terms of the loan agreement. When a loan is placed on non-accrual status, management ceases the accrual of interest owed, and previously accrued interest is charged against interest income. A loan is generally returned to accrual status when the loan is current and management has reasonable assurance that the loan will be fully collectible. Interest income on non-accrual loans is recorded when received in cash. At March 31, 2021 and December 31, 2020, all of our non-performing loans were non-accrual loans. The following table presents information regarding the quality of the Company’s loans held for investment at March 31, 2021: (in thousands) Loans Non- Loans Total Current Total Loans Multi-family $ 961 $ 9,888 $ — $ 10,849 $ 32,184,407 $ 32,195,256 Commercial real estate 19,371 11,573 — 30,944 6,996,292 7,027,236 One-to-four family — 1,466 — 1,466 206,642 208,108 Acquisition, development, and construction — — — — 115,947 115,947 Commercial and industrial (1) (2) — 10,247 — 10,247 3,499,283 3,509,530 Other 13 4 — 17 5,576 5,593 Total loans and leases held for investment $ 20,345 $ 33,178 $ — $ 53,523 $ 43,008,147 $ 43,061,670 (1) Includes $ 10.1 million of taxi medallion-related loans that were 90 days or more past due. There were no taxi medallion-related loans that were 30 to 89 days past due. (2) Includes lease financing receivables, all of which were current. The following table presents information regarding the quality of the Company’s loans held for investment at December 31, 2020: (in thousands) Loans Non- Loans Total Current Total Loans Multi-family $ 4,091 $ 4,068 $ — $ 8,159 $ 32,228,226 $ 32,236,385 Commercial real estate 9,989 12,142 — 22,131 6,813,632 6,835,763 One-to-four family 1,575 1,696 — 3,271 232,718 235,989 Acquisition, development, and construction — — — — 89,790 89,790 Commercial and industrial (1) (2) — 19,866 — 19,866 3,397,477 3,417,343 Other 3 13 — 16 6,504 6,520 Total $ 15,658 $ 37,785 $ — $ 53,443 $ 42,768,347 $ 42,821,790 (1) Includes $ 18.6 million of taxi medallion-related loans that were 90 days or more past due. There were no taxi medallion-related loans that were 30 to 89 days past due. (2) Includes lease financing receivables, all of which were current. The following table summarizes the Company’s portfolio of loans held for investment by credit quality indicator at March 31, 2021: Mortgage Loans Other Loans (in thousands) Multi- Commercial One-to- Acquisition, Total Commercial (1) Other Total Other Credit Quality Indicator: Pass $ 30,647,027 $ 5,867,168 $ 194,220 $ 101,958 $ 36,810,373 $ 3,450,432 $ 5,589 $ 3,456,021 Special mention 875,091 785,007 5,354 13,989 1,679,441 2,071 — 2,071 Substandard 673,138 375,061 8,534 — 1,056,733 57,027 4 57,031 Doubtful — — — — — — — — Total $ 32,195,256 $ 7,027,236 $ 208,108 $ 115,947 $ 39,546,547 $ 3,509,530 $ 5,593 $ 3,515,123 (1) Includes lease financing receivables, all of which were classified as Pass. The following table summarizes the Company’s portfolio of loans held for investment by credit quality indicator at December 31, 2020: Mortgage Loans Other Loans (in thousands) Multi- Commercial One-to- Acquisition, Total Commercial (1) Other Total Other Credit Quality Indicator: Pass $ 31,220,071 $ 5,884,244 $ 221,861 $ 68,233 $ 37,394,409 $ 3,388,293 $ 6,507 $ 3,394,800 Special mention 566,756 637,101 12,436 21,557 1,237,850 2,842 — 2,842 Substandard 449,558 314,418 1,692 — 765,668 26,208 13 26,221 Doubtful — — — — — — — — Total $ 32,236,385 $ 6,835,763 $ 235,989 $ 89,790 $ 39,397,927 $ 3,417,343 $ 6,520 $ 3,423,863 (1) Includes lease financing receivables, all of which were classified as Pass. The preceding classifications are the most current ones available and generally have been updated within the last twelve months. In addition, they follow regulatory guidelines and can generally be described as follows: pass loans are of satisfactory quality; special mention loans have potential weaknesses that deserve management’s close attention; substandard loans are inadequately protected by the current net worth and paying capacity of the borrower or of the collateral pledged (these loans have a well-defined weakness and there is a possibility that the Company will sustain some loss); and doubtful loans, based on existing circumstances, have weaknesses that make collection or liquidation in full highly questionable and improbable. In addition, one-to-four family loans are classified based on the duration of the delinquency. The following table presents, by credit quality indicator, loan class, and year of origination, the amortized cost basis of the Company’s loans and leases as of March 31, 2021. (in thousands) Vintage Year Risk Rating Group 2021 2020 2019 2018 2017 Prior To Revolving Total Pass $ 2,092,263 $ 9,587,201 $ 6,432,567 $ 5,472,277 $ 3,995,854 $ 9,238,124 $ 20,182 $ 36,838,468 Special Mention — 13,067 215,301 345,152 136,466 969,925 — 1,679,911 Substandard — — 193,116 249,729 109,848 503,900 — 1,056,593 Total mortgage loans $ 2,092,263 $ 9,600,268 $ 6,840,984 $ 6,067,158 $ 4,242,168 $ 10,711,949 $ 20,182 $ 39,574,972 Pass 249,885 1,004,860 679,606 149,190 195,499 235,594 976,916 3,491,550 Special Mention — — 71 — — — 2,000 2,071 Substandard — 2,132 3,723 1,840 8,688 13,844 26,319 56,546 Total other loans 249,885 1,006,992 683,400 151,030 204,187 249,438 1,005,235 3,550,167 Total $ 2,342,148 $ 10,607,260 $ 7,524,384 $ 6,218,188 $ 4,446,355 $ 10,961,387 $ 1,025,417 $ 43,125,139 When management determines that foreclosure is probable, expected credit losses are based on the fair value of the collateral adjusted for selling costs. When the borrower is experiencing financial difficulty at the reporting date and repayment is expected to be provided substantially through the operation or sale of the collateral, the collateral-dependent practical expedient has been elected and expected credit losses are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate. For CRE loans, collateral properties include office buildings, warehouse/distribution buildings, shopping centers, apartment buildings, residential and commercial tract development. The primary source of repayment on these loans is expected to come from the sale, permanent financing or lease of the real property collateral. CRE loans are impacted by fluctuations in collateral values, as well as the ability of the borrower to obtain permanent financing. The following table summarizes the extent to which collateral secures the Company’s collateral-dependent loans held for investment by collateral type as of March 31, 2021: Collateral (in thousands) Real Other Multi-family $ 6,840 $ — Commercial real estate 25,386 — One-to-four family 329 — Acquisition, development, and construction — — Commercial and industrial — 16,769 Other — — Total collateral-dependent loans held for investment $ 32,555 $ 16,769 Other collateral primarily consists of taxi medallions, cash, accounts receivable and inventory. There were no significant changes in the extent to which collateral secures the Company’s collateral-dependent financial assets during the three months ended March 31, 2021. Troubled Debt Restructurings The Company is required to account for certain loan modifications and restructurings as TDRs. In general, a modification or restructuring of a loan constitutes a TDR if the Company grants a concession to a borrower experiencing financial difficulty. A loan modified as a TDR generally is placed on non-accrual status until the Company determines that future collection of principal and interest is reasonably assured, which requires, among other things, that the borrower demonstrate performance according to the restructured terms for a period of at least six consecutive months. In determining the Company’s allowance for loan and lease losses, reasonably expected TDRs are individually evaluated and consist of criticized, classified, or maturing loans that will have a modification processed within the next three months. In an effort to proactively manage delinquent loans, the Company has selectively extended to certain borrowers concessions such as rate reductions, extension of maturity dates, and forbearance agreements. As of March 31, 2021 , loans on which concessions were made with respect to rate reductions and/or extension of maturity dates amounted to $ 32.1 million; loans on which forbearance agreements were reached amounted to $ 146 thousand. The CARES Act was enacted on March 27, 2020. Under the CARES Act, the Company made the election to deem that loan modifications do not result in TDRs if they are (1) related to the novel coronavirus disease (“COVID-19”); (2) executed on a loan that was not more than 30 days past due as of December 31, 2019; and (3) executed between March 1, 2020, and the earlier of (A) 60 days after the date of termination of the National Emergency or (B) December 31, 2020. This includes short-term (e.g., up to six months) modifications such as payment deferrals, fee waivers, extensions of repayment terms, or delays in payment that are insignificant. Borrowers considered current are those that are less than 30 days past due on their contractual payments at the time a modification program is implemented. In December 2020, Congress amended the CARES Act through the Consolidated Appropriation Act of 2021, which provided additional COVID-19 relief to American families and businesses, including extending TDR relief under the CARES Act until the earlier of December 31, 2021 or 60 days following the termination of the national emergency. The following table presents information regarding the Company’s TDRs as of March 31, 2021 and December 31, 2020: March 31, 2021 December 31, 2020 (in thousands) Accruing Non- Total Accruing Non- Total Loan Category: Multi-family $ — $ 6,840 $ 6,840 $ — $ — $ — Commercial real estate 14,894 — 14,894 14,967 — 14,967 One-to-four family — 330 330 — 557 557 Commercial and industrial (1) — 10,134 10,134 — 18,761 18,761 Total $ 14,894 $ 17,304 $ 32,198 $ 14,967 $ 19,318 $ 34,285 (1) Includes $ 10 .0 million and $ 17.5 million of taxi medallion-related loans at March 31, 2021 and December 31, 2020 , respectively . The eligibility of a borrower for work-out concessions of any nature depends upon the facts and circumstances of each loan, which may change from period to period, and involves judgment by Company personnel regarding the likelihood that the concession will result in the maximum recovery for the Company. The financial effects of the Company’s TDRs for the three months ended March 31, 2021 and 2020 are summarized as follows: For the Three Months Ended March 31, 2021 Weighted Average (dollars in thousands) Number Pre- Post- Pre- Post- Charge- Capitalized Loan Category: Multi-family 1 $ 7,515 $ 7,515 3.13 % 3.25 % $ - $ - For the Three Months Ended March 31, 2020 Weighted Average (dollars in thousands) Number Pre- Post- Pre- Post- Charge- Capitalized Loan Category: Commercial and industrial 8 $ 1,920 $ 1,572 3.29 % 3.24 % $ 348 $ — At March 31, 2021 , 17 C&I loans in the aggregate amount of $ 2.1 million have been modified as TDRs during the twelve months ended at that date, and were in payment default. At March 31, 2020 , five C&I and one 1-4 family residential loans totaling $ 600,000 and $ 140,000 , respectively, that had been modified as TDRs during the twelve months ended at that date and were in payment default. The Company does not consider a payment to be in default when the loan is in forbearance, or otherwise granted a delay of payment, when the agreement to forebear or allow a delay of payment is part of a modification. Subsequent to the modification, the loan is not considered to be in default until payment is contractually past due in accordance with the modified terms. However, the Company may consider a loan with multiple modifications or forbearance periods to be in default, and would consider a loan to be in default if the borrower were in bankruptcy or if the loan were partially charged off subsequent to modification. Management takes into consideration all TDR modifications in determining the appropriate level of the allowance.

Allowance for Credit Losses on

Allowance for Credit Losses on Loans and Leases	3 Months Ended
	Mar. 31, 2021
Allowance For Credit Losses On Loans And Leases [Abstract]
Allowance for Credit Losses on Loans and Leases	Note 6. Allowance for Credit Losses on Loans and Leases Allowance for Credit Losses on Loans and Leases The following table summarizes activity in the allowance for credit losses on loans and leases for the periods indicated: For the Three Months Ended March 31, 2021 2020 (in thousands) Mortgage Other Total Mortgage Other Total Balance, beginning of period $ 176,538 $ 17,505 $ 194,043 $ 122,695 $ 24,943 $ 147,638 Impact of CECL adoption — - — ( 178 ) 2,089 1,911 Adjusted balance, beginning of period 176,538 17,505 194,043 122,517 27,032 149,549 Charge-offs ( 658 ) ( 3,666 ) ( 4,324 ) — ( 10,385 ) ( 10,385 ) Recoveries 20 4,821 4,841 11 178 189 Provision for credit losses 527 2,671 3,198 18,786 4,105 22,891 Balance, end of period $ 176,427 $ 21,331 $ 197,758 $ 141,314 $ 20,930 $ 162,244 At March 31, 2021, the allowance for credit losses on loans and leases totaled $ 197.8 million, up $ 3.7 million compared to December 31, 2020, driven by a provision for credit losses of $ 3.6 million. Separately, at March 31, 2021, the Company had an allowance for unfunded commitments of $ 12.3 million. For the three months ended March 31, 2021, the allowance for credit losses on loans and leases increased modestly primarily due to qualitative adjustments surrounding the COVID-19 pandemic's continued impact on our primary lending geography and existing portfolio, partially offset by improvement in the macroeconomic forecast. The forecast scenario includes low single digit growth of Gross Domestic Product (“GDP”), while unemployment remains elevated into the forecasted time horizon. In addition to these economic and quantitative inputs, several qualitative factors were considered, including the risk that the economic decline proves to be more severe and/or prolonged than our baseline forecast. The impact of the unprecedented fiscal stimulus and changes to federal and local laws and regulations, including changes to various government sponsored loan programs, was also considered. The Company charges off loans, or portions of loans, in the period that such loans, or portions thereof, are deemed uncollectible. The collectability of individual loans is determined through an assessment of the financial condition and repayment capacity of the borrower and/or through an estimate of the fair value of any underlying collateral. For non-real estate-related consumer credits, the following past-due time periods determine when charge-offs are typically recorded: (1) closed-end credits are charged off in the quarter that the loan becomes 120 days past due; (2) open-end credits are charged off in the quarter that the loan becomes 180 days past due; and (3) both closed-end and open-end credits are typically charged off in the quarter that the credit is 60 days past the date the Company received notification that the borrower has filed for bankruptcy. The following table presents additional information about the Company’s nonaccrual loans at March 31, 2021: (in thousands) Recorded Related Interest Nonaccrual loans with no related allowance: Multi-family $ 6,840 $ — $ 81 Commercial real estate 10,491 - - One-to-four family 330 - 3 Acquisition, development, and construction - - - Other 10,205 - 18 Total nonaccrual loans with no related allowance $ 27,866 $ — $ 102 Nonaccrual loans with an allowance recorded: Multi-family $ 3,048 $ 435 $ — Commercial real estate 1,082 84 2 One-to-four family 1,137 365 3 Acquisition, development, and construction - - - Other 45 20 1 Total nonaccrual loans with an allowance recorded $ 5,312 $ 904 $ 6 Total nonaccrual loans: Multi-family $ 9,888 $ 435 $ 81 Commercial real estate 11,573 84 2 One-to-four family 1,467 365 6 Acquisition, development, and construction - - - Other 10,250 20 19 Total nonaccrual loans $ 33,178 $ 904 $ 108 The following table presents additional information about the Company’s nonaccrual loans at December 31, 2020: (in thousands) Recorded Related Interest Nonaccrual loans with no related allowance: Multi-family $ — $ — $ — Commercial real estate 2,256 — — One-to-four family 557 — 21 Acquisition, development, and construction — — — Other 19,821 — 820 Total nonaccrual loans with no related allowance $ 22,634 $ — $ 841 Nonaccrual loans with an allowance recorded: Multi-family $ 4,068 $ 589 $ 28 Commercial real estate 9,886 133 52 One-to-four family 1,139 370 14 Acquisition, development, and construction — — — Other 58 18 5 Total nonaccrual loans with an allowance recorded $ 15,151 $ 1,110 $ 99 Total nonaccrual loans: Multi-family $ 4,068 $ 589 $ 28 Commercial real estate 12,142 133 52 One-to-four family 1,696 370 35 Acquisition, development, and construction — — — Other 19,879 18 825 Total nonaccrual loans $ 37,785 $ 1,110 $ 940

Borrowed Funds

Borrowed Funds	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Borrowed Funds	Note 7. Borrowed Funds The following table summarizes the Company’s borrowed funds at the dates indicated: (in thousands) March 31, December 31, Wholesale Borrowings: FHLB advances $ 14,302,661 $ 14,627,661 Repurchase agreements 800,000 800,000 Total wholesale borrowings $ 15,102,661 $ 15,427,661 Junior subordinated debentures 360,362 360,259 Subordinated notes 295,764 295,624 Total borrowed funds $ 15,758,787 $ 16,083,544 The following table summarizes the Company’s repurchase agreements accounted for as secured borrowings at March 31, 2021: Remaining Contractual Maturity of the Agreements (in thousands) Overnight and Up to 30–90 Days Greater than GSE obligations $ — $ — $ — $ 800,000 Subordinated Notes At March 31, 2021 and December 31, 2020 , the Company had $ 295.8 million and $ 295.6 million, respectively, of fixed-to-floating rate subordinated notes outstanding: Date of Original Issue Stated Interest (1) Original Issue (dollars in thousands) Nov. 6, 2018 Nov. 6, 2028 5.90 % $ 300,000 (1) From and including the date of original issuance to, but excluding November 6, 2023, the Notes will bear interest at an initial rate of 5.90 % per annum payable semi-annually. Unless redeemed, from and including November 6, 2023 to but excluding the maturity date, the interest rate will reset quarterly to an annual interest rate equal to the then-current three-month LIBOR rate plus 278 basis points payable quarterly. Junior Subordinated Debentures At March 31, 2021 and December 31, 2020 , the Company had $ 360.4 million and $ 360.3 million, respectively, of outstanding junior subordinated deferrable interest debentures (“junior subordinated debentures”) held by statutory business trusts (the “Trusts”) that issued guaranteed capital securities. The Trusts are accounted for as unconsolidated subsidiaries, in accordance with GAAP. The proceeds of each issuance were invested in a series of junior subordinated debentures of the Company and the underlying assets of each statutory business trust are the relevant debentures. The Company has fully and unconditionally guaranteed the obligations under each trust’s capital securities to the extent set forth in a guarantee by the Company to each trust. The Trusts’ capital securities are each subject to mandatory redemption, in whole or in part, upon repayment of the debentures at their stated maturity or earlier redemption. The following junior subordinated debentures were outstanding at March 31, 2021: Issuer Interest Junior Capital Date of Stated First (dollars in thousands) New York Community Capital Trust V SM Units) 6.00 % $ 146,436 $ 140,085 Nov. 4, 2002 Nov. 1, 2051 Nov. 4, 2007 (1) New York Community Capital Trust X 1.78 123,712 120,000 Dec. 14, 2006 Dec. 15, 2036 Dec. 15, 2011 (2) PennFed Capital Trust III 3.43 30,928 30,000 June 2, 2003 June 15, 2033 June 15, 2008 (2) New York Community Capital Trust XI 1.85 59,286 57,500 April 16, 2007 June 30, 2037 June 30, 2012 (2) Total junior subordinated debentures $ 360,362 $ 347,585 (1) Callable subject to certain conditions as described in the prospectus filed with the SEC on November 4, 2002. (2) Callable from this date forward.

Pension and Other Post-Retireme

Pension and Other Post-Retirement Benefits	3 Months Ended
	Mar. 31, 2021
General Discussion Of Pension And Other Postretirement Benefits [Abstract]
Pension and Other Post-Retirement Benefits	Note 8. Pension and Other Post-Retirement Benefits The following table sets forth certain disclosures for the Company’s pension and post-retirement plans for the periods indicated: For the Three Months Ended March 31, 2021 2020 (in thousands) Pension Post- Pension Post- Components of net periodic (credit) expense: (1) Interest cost $ 912 $ 56 $ 1,173 $ 82 Expected return on plan assets ( 4,016 ) - ( 3,876 ) — Amortization of prior-service liability - ( 62 ) — ( 62 ) Amortization of net actuarial loss 1,732 11 1,831 6 Net periodic (credit) expense $ ( 1,372 ) $ 5 $ ( 872 ) $ 26 (1) Amounts are included in G&A expense on the Consolidated Statements of Income and Comprehensive Income. The Company expects to contribute $ 915,000 to its post-retirement plan to pay premiums and claims for the fiscal year ending December 31, 2021. The Company does no t expect to make any contributions to its pension plan in 2021.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	Note 9. Stock-Based Compensation At March 31, 2021 , the Company had a total of 8,481,554 shares available for grants as restricted stock, options, or other forms of related rights. The Company granted 3,029,949 shares of restricted stock, with an average fair value of $ 11.15 per share on the date of grant, during the three months ended March 31, 2021. During the three months ended March 31, 2020 , the Company granted 2,387,645 shares of restricted stock, with an average fair value of $ 11.64 per share. The shares of restricted stock that were granted during the three months ended March 31, 2021 and 2020 , vest over a one or five year period. Compensation and benefits expense related to the restricted stock grants is recognized on a straight-line basis over the vesting period and totaled $ 8.0 million and $ 7.8 million, respectively, for the three months ended March 31, 2021 and 2020. The following table provides a summary of activity with regard to restricted stock awards in the three months ended March 31, 2021: Number of Weighted Average Unvested at beginning of year 6,228,048 $ 12.43 Granted 3,029,949 11.15 Vested ( 1,918,654 ) 13.21 Canceled ( 59,260 ) 11.65 Unvested at end of period 7,280,083 11.70 As of March 31, 2021 , unrecognized compensation cost relating to unvested restricted stock totaled $ 77.6 million. This amount will be recognized over a remaining weighted average period of 3.6 years. The following table provides a summary of activity with regard to Performance-Based Restricted Stock Units ("PSUs") in the three months ended March 31, 2021: Number of Performance Expected Outstanding at beginning of year 477,872 Granted 307,479 January 1, 2021 - December 31, 2023 March 31, 2024 Outstanding at end of period 785,351 PSUs are subject to adjustment or forfeiture, based upon the achievement by the Company of certain performance standards. Compensation and benefits expense related to PSUs is recognized using the fair value as of the date the units were approved, on a straight-line basis over the vesting period and totaled $ 586,000 and $ 407,000 for the three months ended March 31, 2021 and March 31, 2020, respectively. As of March 31, 2021 , unrecognized compensation cost relating to unvested restricted stock totaled $ 6.3 million. This amount will be recognized over a remaining weighted average period of 2.1 years. As of March 31, 2021, the Company believes it is probable that the performance conditions will be met. The Company matches a portion of employee 401(k) plan contributions. Such expense totaled $ 1.7 million and $ 1.6 million for the three months ended March 31, 2021 and 2020, respectively.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 10. Fair Value Measurements GAAP sets forth a definition of fair value, establishes a consistent framework for measuring fair value, and requires disclosure for each major asset and liability category measured at fair value on either a recurring or non-recurring basis. GAAP also clarifies that fair value is an “exit” price, representing the amount that would be received when selling an asset, or paid when transferring a liability, in an orderly transaction between market participants. Fair value is thus a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows:  Level 1 – Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.  Level 2 – Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.  Level 3 – Inputs to the valuation methodology are significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants use in pricing an asset or liability. A financial instrument’s categorization within this valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The following tables present assets and liabilities that were measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020, and that were included in the Company’s Consolidated Statements of Condition at those dates: Fair Value Measurements at March 31, 2021 (in thousands) Quoted Prices Significant Significant Netting Total Fair Assets: Mortgage-Related Debt Securities Available for Sale: GSE certificates $ — $ 1,209,318 $ — $ — $ 1,209,318 GSE CMOs — 1,986,270 — — 1,986,270 Total mortgage-related debt securities $ — $ 3,195,588 $ — $ — $ 3,195,588 Other Debt Securities Available for Sale: U. S. Treasury obligations $ 64,998 $ — $ — $ — $ 64,998 GSE debentures — 1,368,341 — — 1,368,341 Asset-backed securities — 520,773 — — 520,773 Municipal bonds — 26,011 — — 26,011 Corporate bonds — 882,070 — — 882,070 Foreign notes — 25,993 25,993 Capital trust notes — 94,131 — — 94,131 Total other debt securities $ 64,998 $ 2,917,319 $ — $ — $ 2,982,317 Total debt securities available for sale $ 64,998 $ 6,112,907 $ — $ — $ 6,177,905 Equity securities: Mutual funds — 15,801 — — 15,801 Total equity securities $ — $ 15,801 $ — $ — $ 15,801 Total securities $ 64,998 $ 6,128,708 $ — $ — $ 6,193,706 Fair Value Measurements at December 31, 2020 (in thousands) Quoted Prices Significant Significant Netting Total Fair Assets: Mortgage-Related Debt Securities Available for Sale: GSE certificates $ — $ 1,209,610 $ — $ — $ 1,209,610 GSE CMOs — 1,828,715 — — 1,828,715 Total mortgage-related debt securities $ — $ 3,038,325 $ — $ — $ 3,038,325 Other Debt Securities Available for Sale: U.S. Treasury obligations $ 64,985 $ — $ — $ — $ 64,985 GSE debentures — 1,158,302 — — 1,158,302 Asset-backed securities — 527,099 — — 527,099 Municipal bonds — 26,311 — — 26,311 Corporate bonds — 882,226 — — 882,226 Foreign notes — 25,538 25,538 Capital trust notes — 90,547 — — 90,547 Total other debt securities $ 64,985 $ 2,710,023 $ — $ — $ 2,775,008 Total debt securities available for sale $ 64,985 $ 5,748,348 $ — $ — $ 5,813,333 Equity securities: Preferred stock $ 15,493 $ — $ — $ — $ 15,493 Mutual funds — 16,083 — — 16,083 Total equity securities $ 15,493 $ 16,083 $ — $ — $ 31,576 Total securities $ 80,478 $ 5,764,431 $ — $ — $ 5,844,909 The Company reviews and updates the fair value hierarchy classifications for its assets on a quarterly basis. Changes from one quarter to the next that are related to the observability of inputs for a fair value measurement may result in a reclassification from one hierarchy level to another. A description of the methods and significant assumptions utilized in estimating the fair values of securities follows: Where quoted prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. Level 1 securities include highly liquid government securities and exchange-traded securities. If quoted market prices are not available for a specific security, then fair values are estimated by using pricing models. These pricing models primarily use market-based or independently sourced market parameters as inputs, including, but not limited to, yield curves, interest rates, equity or debt prices, and credit spreads. In addition to observable market information, models incorporate transaction details such as maturity and cash flow assumptions. Securities valued in this manner would generally be classified within Level 2 of the valuation hierarchy, and primarily include such instruments as mortgage-related and corporate debt securities. Periodically, the Company uses fair values supplied by independent pricing services to corroborate the fair values derived from the pricing models. In addition, the Company reviews the fair values supplied by independent pricing services, as well as their underlying pricing methodologies, for reasonableness. The Company challenges pricing service valuations that appear to be unusual or unexpected. While the Company believes its valuation methods are appropriate, and consistent with those of other market participants, the use of different methodologies or assumptions to determine the fair values of certain financial instruments could result in different estimates of fair values at a reporting date. Assets Measured at Fair Value on a Non-Recurring Basis Certain assets are measured at fair value on a non-recurring basis. Such instruments are subject to fair value adjustments under certain circumstances (e.g., when there is evidence of impairment). The following tables present assets and liabilities that were measured at fair value on a non-recurring basis as of March 31, 2021 and December 31, 2020, and that were included in the Company’s Consolidated Statements of Condition at those dates: Fair Value Measurements at March 31, 2021 Using (in thousands) Quoted Prices in Significant Other Significant Total Fair Certain nonaccrual loans (1) $ — $ — $ 23,172 $ 23,172 Other assets (2) — — 10,583 10,583 Total $ — $ — $ 33,755 $ 33,755 (1) Represents the fair value of impaired loans, based on the value of the collateral. (2) Represents the fair value of repossessed assets, based on the appraised value of the collateral subsequent to its initial classification as repossessed assets and equity investments without readily determinable fair values. These equity investments are classified as Level 3 due to the infrequency of the observable prices and/or the restrictions on the shares. Fair Value Measurements at December 31, 2020 Using (in thousands) Quoted Prices in Significant Other Significant Total Fair Certain nonaccrual loans (1) $ — $ — $ 41,066 $ 41,066 Other assets (2) — — 5,655 5,655 Total $ — $ — $ 46,721 $ 46,721 (1) Represents the fair value of impaired loans, based on the value of the collateral. (2) Represents the fair value of repossessed assets, based on the appraised value of the collateral subsequent to its initial classification as repossessed assets and equity investments without readily determinable fair values. These equity investments are classified as Level 3 due to the infrequency of the observable prices and/or the restrictions on the shares. The fair values of collateral-dependent impaired loans are determined using various valuation techniques, including consideration of appraised values and other pertinent real estate and other market data. Other Fair Value Disclosures For the disclosure of fair value information about the Company’s on- and off-balance sheet financial instruments, when available, quoted market prices are used as the measure of fair value. In cases where quoted market prices are not available, fair values are based on present-value estimates or other valuation techniques. Such fair values are significantly affected by the assumptions used, the timing of future cash flows, and the discount rate. Because assumptions are inherently subjective in nature, estimated fair values cannot be substantiated by comparison to independent market quotes. Furthermore, in many cases, the estimated fair values provided would not necessarily be realized in an immediate sale or settlement of such instruments. The following tables summarize the carrying values, estimated fair values, and fair value measurement levels of financial instruments that were not carried at fair value on the Company’s Consolidated Statements of Condition at March 31, 2021 and December 31, 2020: March 31, 2021 Fair Value Measurement Using (in thousands) Carrying Value Estimated Quoted Prices Significant Significant Financial Assets: Cash and cash equivalents $ 2,722,915 $ 2,722,915 $ 2,722,915 $ — $ — FHLB stock (1) 698,984 698,984 — 698,984 — Loans, net 43,068,816 42,433,118 — — 42,433,118 Financial Liabilities: Deposits $ 34,197,136 $ 34,215,071 $ 24,582,838 (2) $ 9,632,233 (3) $ — Borrowed funds 15,758,787 16,475,503 — 16,475,503 — (1) Carrying value and estimated fair value are at cost. (2) Interest-bearing checking and money market accounts, savings accounts, and non-interest-bearing accounts. (3) Certificates of deposit. December 31, 2020 Fair Value Measurement Using (in thousands) Carrying Estimated Quoted Prices Significant Significant Financial Assets: Cash and cash equivalents $ 1,947,931 $ 1,947,931 $ 1,947,931 $ — $ — FHLB stock (1) 714,005 714,005 — 714,005 — Loans, net 42,806,691 42,376,214 — $ — 42,376,214 Financial Liabilities: Deposits $ 32,436,813 $ 32,466,013 $ 22,106,133 (2) $ 10,359,880 (3) $ — Borrowed funds 16,083,544 16,794,338 — 16,794,338 — (1) Carrying value and estimated fair value are at cost. (2) Interest-bearing checking and money market accounts, savings accounts, and non-interest-bearing accounts. (3) Certificates of deposit. The methods and significant assumptions used to estimate fair values for the Company’s financial instruments follow: Cash and Cash Equivalents Cash and cash equivalents include cash and due from banks and federal funds sold. The estimated fair values of cash and cash equivalents are assumed to equal their carrying values, as these financial instruments are either due on demand or have short-term maturities. Securities If quoted market prices are not available for a specific security, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics, or discounted cash flows. These pricing models primarily use market-based or independently sourced market parameters as inputs, including, but not limited to, yield curves, interest rates, equity or debt prices, and credit spreads. In addition to observable market information, pricing models also incorporate transaction details such as maturities and cash flow assumptions. Federal Home Loan Bank Stock Ownership in equity securities of the FHLB-NY is generally restricted and there is no established liquid market for their resale. The carrying amount approximates the fair value. Loans The Company discloses the fair value of loans measured at amortized cost using an exit price notion. The Company determined the fair value on substantially all of its loans for disclosure purposes, on an individual loan basis. The discount rates reflect current market rates for loans with similar terms to borrowers having similar credit quality on an exit price basis. The estimated fair values of non-performing mortgage and other loans are based on recent collateral appraisals. For those loans where a discounted cash flow technique was not considered reliable, the Company used a quoted market price for each individual loan. Deposits The fair values of deposit liabilities with no stated maturity (i.e., interest-bearing checking and money market accounts, savings accounts, and non-interest-bearing accounts) are equal to the carrying amounts payable on demand. The fair values of CDs represent contractual cash flows, discounted using interest rates currently offered on deposits with similar characteristics and remaining maturities. These estimated fair values do not include the intangible value of core deposit relationships, which comprise a significant portion of the Company’s deposit base. Borrowed Funds The estimated fair value of borrowed funds is based either on bid quotations received from securities dealers or the discounted value of contractual cash flows with interest rates currently in effect for borrowed funds with similar maturities and structures. Off-Balance Sheet Financial Instruments The fair values of commitments to extend credit and unadvanced lines of credit are estimated based on an analysis of the interest rates and fees currently charged to enter into similar transactions, considering the remaining terms of the commitments and the creditworthiness of the potential borrowers. The estimated fair values of such off-balance sheet financial instruments were insignificant at March 31, 2021 and December 31, 2020.

Leases

Leases	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Leases	Note 11. Leases Lessor Arrangements The Company is a lessor in the equipment finance business where it has executed direct financing leases (“lease finance receivables”). The Company produces lease finance receivables through a specialty finance subsidiary that participates in syndicated loans that are brought to them, and equipment loans and leases that are assigned to them, by a select group of nationally recognized sources, and are generally made to large corporate obligors, many of which are publicly traded, carry investment grade or near-investment grade ratings, and participate in stable industries nationwide. Lease finance receivables are carried at the aggregate of lease payments receivable plus the estimated residual value of the leased assets and any initial direct costs incurred to originate these leases, less unearned income, which is accreted to interest income over the lease term using the interest method. The standard leases are typically repayable on a level monthly basis with terms ranging from 24 to 120 months. At the end of the lease term, the lessee usually has the option to return the equipment, to renew the lease or purchase the equipment at the then fair market value (“FMV”) price. For leases with a FMV renewal/purchase option, the relevant residual value assumptions are based on the estimated value of the leased asset at the end of lease term, including evaluation of key factors, such as, the estimated remaining useful life of the leased asset, its historical secondary market value including history of the lessee executing the FMV option, overall credit evaluation and return provisions. The Company acquires the leased asset at fair market value and provides funding to the respective lessee at acquisition cost, less any volume or trade discounts, as applicable. Therefore, there is generally no selling profit or loss to recognize or defer at inception of a lease. The residual value component of a lease financing receivable represents the estimated fair value of the leased equipment at the end of the lease term. In establishing residual value estimates, the Company may rely on industry data, historical experience, and independent appraisals and, where appropriate, information regarding product life cycle, product upgrades and competing products. Upon expiration of a lease, residual assets are remarketed, resulting in an extension of the lease by the lessee, a lease to a new customer or purchase of the residual asset by the lessee or another party. Impairment of residual values arises if the expected fair value is less than the carrying amount. The Company assesses its net investment in lease financing receivables (including residual values) for impairment on an annual basis with any impairment losses recognized in accordance with the impairment guidance for financial instruments. As such, net investment in lease financing receivables may be reduced by an allowance for credit losses with changes recognized as provision expense. On certain lease financings, the Company obtains residual value insurance from third parties to manage and reduce the risk associated with the residual value of the leased assets. At March 31, 2021 and December 31, 2020, the carrying value of residual assets with third-party residual value insurance for at least a portion of the asset value was $ 63.0 million and $ 70.6 million, respectively. The Company uses the interest rate implicit in the lease to determine the present value of its lease financing receivables. The components of lease income were as follows: (in thousands) For the For the Interest income on lease financing (1) $ 13,871 $ 11,949 (1) Included in Interest Income – Loans and leases in the Consolidated Statements of Income and Comprehensive Income. At March 31, 2021 and December 31, 2020, the carrying value of net investment in leases was $ 2.0 billion and $ 1.9 billion. The components of net investment in direct financing leases, including the carrying amount of the lease receivables, as well as the unguaranteed residual asset were as follows: (in thousands) March 31, December 31, Net investment in the lease - lease payments receivable $ 1,929,213 $ 1,771,097 Net investment in the lease - unguaranteed 80,349 80,093 Total lease payments $ 2,009,562 $ 1,851,190 The following table presents the remaining maturity analysis of the undiscounted lease receivables as of March 31, 2021, as well as the reconciliation to the total amount of receivables recognized in the Consolidated Statements of Condition: (in thousands) March 31, 2021 $ 24,349 2022 111,308 2023 342,220 2024 236,013 2025 427,495 Thereafter 868,177 Total lease payments 2,009,562 Plus: deferred origination costs 30,823 Less: unearned income ( 110,582 ) Total lease finance receivables, net $ 1,929,803 Lessee Arrangements The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use assets and operating lease liabilities in the Consolidated Statements of Condition. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most leases do not provide an implicit rate, the incremental borrowing rate (FHLB borrowing rate) is used in determining the present value of lease payments. The implicit rate is used when readily determinable. The operating lease ROU asset is measured at cost, which includes the initial measurement of the lease liability, prepaid rent and initial direct costs incurred by the Company, less incentives received. The lease terms include options to extend the lease when it is reasonably certain that we will exercise that option. For the vast majority of the Company’s leases, we are reasonably certain we will exercise our options to renew to the end of all renewal option periods. As such, substantially all of our future options to extend the leases have been included in the lease liability and ROU assets. Variable costs such as the proportionate share of actual costs for utilities, common area maintenance, property taxes and insurance are not included in the lease liability and are recognized in the period in which they are incurred. Amortization of the ROU assets was $ 4.7 million and $ 4.1 million for the three months ended March 31, 2021 and March 31, 2020, respectively. The Company has operating leases for corporate offices, branch locations, and certain equipment. The Company’s leases have remaining lease terms of one year to approximately 25 years, the vast majority of which include one or more options to extend the leases for up to five years resulting in lease terms up to 40 years. The components of lease expense were as follows: (in thousands) For the For the Operating lease cost $ 6,750 $ 6,759 Sublease income ( 28 ) ( 11 ) Total lease cost $ 6,722 $ 6,748 Supplemental cash flow information related to the leases for the following periods: (in thousands) For the For the Cash paid for amounts included in the measurement Operating cash flows from operating leases $ 6,750 $ 6,759 Supplemental balance sheet information related to the leases for the following periods: (in thousands, except lease term and discount rate) March 31, December 31, Operating Leases: Operating lease right-of-use assets 262,196 $ 266,864 Operating lease liabilities 262,169 266,846 Weighted average remaining lease term 16 years 16 years Weighted average discount rate 3.08 % 3.12 % Maturities of lease liabilities: March 31, (in thousands) 2021 $ 20,099 2022 25,893 2023 25,435 2024 24,764 2025 24,073 Thereafter 222,215 Total lease payments 342,479 Less: imputed interest ( 80,310 ) Total present value of lease liabilities $ 262,169

Derivative and Hedging Activiti

Derivative and Hedging Activities	3 Months Ended
	Mar. 31, 2021
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative and Hedging Activities	Note 12. Derivative and Hedging Activities The Company’s derivative financial instruments consist of interest rate swaps. The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposure to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate and liquidity risks, primarily by managing the amount, sources, and duration of its assets and liabilities and, from time to time, the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the payment of future known and uncertain cash amounts, the value of which are determined by interest rates. Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the “Dodd-Frank Act”) requires all standardized derivatives, including most interest rate swaps, to be submitted for clearing to central counterparties to reduce counterparty risk. Two of the central counterparties are the Chicago Mercantile Exchange (“CME”) and the London Clearing House (“LCH”). As of March 31, 2021 , all of the Company’s $ 4.3 billion notional derivative contracts were cleared on the LCH. Daily variation margin payments on derivatives cleared through the LCH are accounted for as legal settlement. For derivatives cleared through LCH, the net gain (loss) position includes the variation margin amounts as settlement of the derivative and not collateral against the fair value of the derivative, which includes accrued interest; therefore, those interest rate and derivative contracts the Company clears through the LCH are reported at a fair value of approximately zero at March 31, 2021. The Company’s exposure is limited to the value of the derivative contracts in a gain position less any collateral held and plus any collateral posted. When there is a net negative exposure, we consider our exposure to the counterparty to be zero. At March 31, 2021, the Company had a net negative exposure. Fair Value of Hedges of Interest Rate Risk The Company is exposed to changes in the fair value of certain of its fixed-rate assets due to changes in benchmark interest rates. The Company uses interest rate swaps to manage its exposure to changes in fair value on these instruments attributable to changes in the designated benchmark interest rate. Interest rate swaps designated as fair value hedges involve the payment of fixed-rate amounts to a counterparty in exchange for the Company receiving variable-rate payments over the life of the agreements without the exchange of the underlying notional amount. Such derivatives were used to hedge the changes in fair value of certain of its pools of prepayable fixed rate assets. For derivatives designated and that qualify as fair value hedges, the gain or loss on the derivative as well as the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in interest income. The Company has entered into an interest rate swap with a notional amount of $ 2 .0 billion to hedge certain real estate loans. For the three months ended March 31, 2021 , the floating rate received related to the net settlement of this interest rate swap was less than the fixed rate payments. As such, interest income from Loans and leases in the accompanying Consolidated Statements of Income and Comprehensive Income was decreased by $ 12 .0 million for the three months ended March 31, 2021. For the three months ended March 31, 2020 , the floating rate received related to the net settlement of this interest rate swap was less than the fixed rate payments. As such, interest income from Loans and leases in the accompanying Consolidated Statements of Income and Comprehensive Income was decreased by $ 3.9 million. As of March 31, 2021, the following amounts were recorded on the balance sheet related to cumulative basis adjustment for fair value hedges: (in thousands) March 31, 2021 Line Item in the Consolidated Statements of Condition in which the Hedge Item is Included Carrying Cumulative Total loans and leases, net (1) $ 2,047,999 $ 47,999 (1) These amounts include the amortized cost basis of closed portfolios used to designate hedging relationships in which the hedged item is the last layer expected to be remaining at the end of the hedging relationship. At March 31, 2021 , the amortized cost basis of the closed portfolios used in these hedging relationships was $ 3.4 billion; the cumulative basis adjustments associated with these hedging relationships was $ 48.0 million; and the amount of the designated hedged items was $ 2.0 billion. As of December 31, 2020, the following amounts were recorded on the balance sheet related to cumulative basis adjustment for fair value hedges: (in thousands) December 31, 2020 Line Item in the Consolidated Statements of Condition in which the Hedge Item is Included Carrying Cumulative Total loans and leases, net (1) $ 2,073,214 $ 73,214 (1) These amounts include the amortized cost basis of closed portfolios used to designate hedging relationships in which the hedged item is the last layer expected to be remaining at the end of the hedging relationship. At December 31, 2020 the amortized cost basis of the closed portfolios used in these hedging relationships was $ 3.6 billion; the cumulative basis adjustments associated with these hedging relationships was $ 73.2 million; and the amount of the designated hedged items was $ 2.0 billion. The following table sets forth information regarding the Company’s derivative financial instruments at March 31, 2021 and December 31, 2020: Notional Other Other Derivatives designated as fair value hedging Interest rate swap $ 2,000,000 $ — $ — Total derivatives designated as fair value hedging $ 2,000,000 $ — $ — The following table sets forth the effect of derivative instruments on the Consolidated Statements of Income and Comprehensive Income for the periods indicated. (in thousands) For the Three For the Three Derivative – interest rate swap: Interest income $ 25,215 $ ( 28,130 ) Hedged item – loans: Interest income $ ( 25,215 ) $ 28,130 Cash Flow Hedges of Interest Rate Risk The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. Interest rate swaps designated as cash flow hedges involve the receipt of amounts subject to variability caused by changes in interest rates from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. Changes in the fair value of derivatives designated and that qualify as cash flow hedges are initially recorded in other comprehensive income and are subsequently reclassified into earnings in the period that the hedged transaction affects earnings. Interest rate swaps with notional amounts totaling $ 2.3 billion as of March 31, 2021 and December 31, 2020, were designated as cash flow hedges of certain FHLB borrowings. The following table summarizes information about the interest rate swaps designated as cash flow hedges at March 31, 2021 and December 31, 2020: (dollars in thousands) March 31, December 31, Notional amounts $ 2,250,000 $ 2,250,000 Cash collateral posted 35,109 45,532 Weighted average pay rates 1.27 % 1.27 % Weighted average receive rates 0.20 % 0.23 % Weighted average maturity 1.7 years 1.9 years The following table presents the effect of the Company’s cash flow derivative instruments on AOCL for the three months ended March 31, 2021 and 2020: (in thousands) For the Three For the Three Amount of gain (loss) recognized in AOCL $ 4,532 $ ( 49,285 ) Amount of gain (loss) reclassified from AOCL to interest expense 5,891 ( 645 ) Gains (losses) included in the Consolidated Statements of Income related to interest rate derivatives designated as cash flow hedges during the three months ended March 31, 2021 was $ 5.9 million. Amounts reported in AOCL related to derivatives will be reclassified to interest expense as interest payments are made on the Company’s variable-rate borrowings. During the next twelve months, the Company estimates that an additional $ 24.1 million will be reclassified to interest expense.

Subsequent Event

Subsequent Event	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
Subsequent Event	Note 13. Subsequent Event Pending Acquisition of Flagstar Bancorp, Inc. On April 26, 2021, the Company announced that it had entered into a definitive merger agreement under which we would acquire Flagstar Bancorp, Inc. ("Flagstar") in a 100 % stock transaction valued at the time at $ 2.6 billion. Under terms of the agreement, which was unanimously approved by the Boards of Directors of both companies, Flagstar shareholders will receive 4.0151 shares of New York Community common stock for each Flagstar share they own. Following completion of the transaction, New York Community shareholders are expected to own 68 % of the combined company, while Flagstar shareholders are expected to own 32 % of the combined company. The new company will have over $ 87 billion in total assets, operate nearly 400 traditional branches in nine states, and 87 retail home lending offices across a 28 -state footprint. It will have its headquarters on Long Island, N.Y. with regional headquarters in Troy, Michigan, including Flagstar's mortgage operations. The transaction is expected to close in the fourth quarter of 2021, subject to the satisfaction of customary closing conditions, including the receipt of the requisite regulatory approvals and approval by the shareholders of each company.

Organization, Basis of Presen_2

Organization, Basis of Presentation, and Impact of Recent Accounting Pronouncements (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Organization	Organization New York Community Bancorp, Inc. (on a stand-alone basis, the “Parent Company” or, collectively with its subsidiaries, the “Company”) was organized under Delaware law on July 20, 1993 and is the holding company for New York Community Bank (hereinafter referred to as the “Bank”). Founded on April 14, 1859 and formerly known as Queens County Savings Bank, the Bank converted from a state-chartered mutual savings bank to the capital stock form of ownership on November 23, 1993, at which date the Company issued its initial offering of common stock (par value: $ 0.01 per share) at a price of $ 25.00 per share ($ 0.93 per share on a split-adjusted basis, reflecting the impact of nine stock splits between 1994 and 2004) . The Bank currently operates 237 branches, 19 of which operate directly under the Community Bank name. The remaining 218 Community Bank branches operate through eight divisional banks: Queens County Savings Bank, Roslyn Savings Bank, Richmond County Savings Bank, Roosevelt Savings Bank, and Atlantic Bank in New York; Garden State Community Bank in New Jersey; AmTrust Bank in Florida and Arizona; and Ohio Savings Bank in Ohio.
Basis of Presentation	Basis of Presentation The following is a description of the significant accounting and reporting policies that the Company and its subsidiaries follow in preparing and presenting their consolidated financial statements, which conform to U.S. generally accepted accounting principles (“GAAP”) and to general practices within the banking industry. The preparation of financial statements in conformity with GAAP requires the Company to make estimates and judgments that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Estimates that are particularly susceptible to change in the near term are used in connection with the determination of the allowance for credit losses and the evaluation of goodwill for impairment. The accompanying consolidated financial statements include the accounts of the Company and other entities in which the Company has a controlling financial interest. All inter-company accounts and transactions are eliminated in consolidation. The Company currently has certain unconsolidated subsidiaries in the form of wholly-owned statutory business trusts, which were formed to issue guaranteed capital securities. See Note 7, Borrowed Funds, for additional information regarding these trusts. When necessary, certain reclassifications have been made to prior-year amounts to conform to the current-year presentation.
Recently Adopted Accounting Standards	Impact of Recent Accounting Pronouncements Recently Adopted Accounting Standards The Company adopted ASU No. 2020-04 in the first quarter of 2021 upon issuance. The amendments provide optional expedients and exceptions for certain contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of rate reform. The guidance is effective from the date of issuance until December 31, 2022. If certain criteria are met, the amendments allow exceptions to the designation criteria of the hedging relationship and the assessment of hedge effectiveness during the transition period. To date, the guidance has not had a material impact on the Company’s Consolidated Statements of Condition, results of operations, or cash flows. The Company will continue to assess the impact as the reference rate transition occurs. The Company adopted ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments and its amendments, (“ASU No. 2016-13”) as of January 1, 2020. ASU No. 2016-13 amended guidance on reporting credit losses for assets held on an amortized cost basis and available-for-sale debt securities. For assets held at amortized cost, ASU No. 2016-13 eliminated the probable initial recognition threshold in current GAAP and, instead, requires an entity to reflect its current estimate of all expected credit losses. The amendments in ASU No. 2016-13 replaced the incurred loss impairment methodology with a methodology that reflects the measurement of expected credit losses based on relevant information about past events, including historical loss experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amounts. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of financial assets to present the net amount expected to be collected. For available-for-sale debt securities, credit losses will be presented as an allowance rather than as a write-down. The amendments affected loans, debt securities, trade receivables, off-balance sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. The Company adopted ASU No. 2016-13 on a modified retrospective basis with a cumulative-effect adjustment to retained earnings as of the adoption date and, accordingly, the Company recorded a net of tax decrease of $ 10.5 million to retained earnings as of January 1, 2020. A prospective transition approach was required for debt securities for which an OTTI had been recognized before the effective date. The effect of the prospective transition approach was to maintain the same amortized cost basis before and after the effective date of ASU No. 2016-13. Amounts previously recognized in accumulated other comprehensive income (loss) as of the date of adoption that relate to improvements in cash flows expected to be collected continue to be accreted into income over the remaining life of the asset. Recoveries of amounts previously written off relating to improvements in cash flows after the date of adoption are recorded in earnings when received. The Company adopted, on a prospective basis, ASU No. 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment as of January 1, 2020. ASU No. 2017-04 eliminates the second step of the goodwill impairment test which requires an entity to determine the implied fair value of the reporting unit’s goodwill. Instead, an entity recognizes an impairment loss if the carrying value of the net assets assigned to the reporting unit exceeds the fair value of the reporting unit, with the impairment loss not to exceed the amount of goodwill recorded. ASU No. 2017-04 does not amend the optional qualitative assessment of goodwill impairment. The adoption of ASU No. 2017-04 did not have a material effect on the Company’s Consolidated Statements of Condition, results of operations, or cash flows. During the three months ended March 31, 2021, the Company assessed the current environment, including the estimated impact of the COVID-19 pandemic on macroeconomic variables and economic forecasts and how those might impact the fair value of its reporting unit. After consideration of the items above and the first three months 2021 results, the Company determined it was not more-likely-than-not that the fair value of its reporting unit was below its book value as of March 31, 2021 .

Computation of Earnings per C_2

Computation of Earnings per Common Share (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Computation of Basic and Diluted EPS	The following table presents the Company’s computation of basic and diluted EPS for the periods indicated: For the Three Months Ended March 31, (in thousands, except share and per share amounts) 2021 2020 Net income available to common shareholders $ 137,389 $ 92,121 Less: Dividends paid on and earnings allocated to ( 1,795 ) ( 1,170 ) Earnings applicable to common stock $ 135,594 $ 90,951 Weighted average common shares outstanding 463,292,906 464,993,970 Basic earnings per common share $ 0.29 $ 0.20 Earnings applicable to common stock $ 135,594 $ 90,951 Weighted average common shares outstanding 463,292,906 464,993,970 Potential dilutive common shares 594,031 418,674 Total shares for diluted earnings per common share 463,886,937 465,412,644 Diluted earnings per common share and common share $ 0.29 $ 0.20

Reclassifications Out of Accu_2

Reclassifications Out of Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2021
Reclassifications Of Accumulated Other Comprehensive Loss [Abstract]
Reclassifications Out of Accumulated Other Comprehensive Loss	(in thousands) For the Three Months Ended March 31, 2021 Details about Accumulated Other Comprehensive Loss Amount Affected Line Item in the Unrealized gains (losses) on available-for-sale securities: $ — Net gain (losses) on securities — Income tax expense $ — Net gain (losses) on securities, net of tax Unrealized loss on cash flow hedges: $ ( 5,891 ) Interest expense 1,617 Income tax benefit $ ( 4,274 ) Net loss on cash flow hedges, net of tax Amortization of defined benefit pension plan items: Past service liability $ 62 Included in the computation of net periodic credit (2) Actuarial losses ( 1,743 ) Included in the computation of net periodic cost (2) ( 1,681 ) Total before tax 462 Income tax benefit $ ( 1,219 ) Amortization of defined benefit pension plan items, net of tax Total reclassifications for the period $ ( 5,493 ) (1) Amounts in parentheses indicate expense items. (2) See Note 8, “Pension and Other Post-Retirement Benefits,” for additional information.

Securities (Tables)

Securities (Tables)	3 Months Ended
	Mar. 31, 2021
Investments Debt And Equity Securities [Abstract]
Summary of Portfolio of Securities Available for Sale	The following tables summarize the Company’s portfolio of debt securities available for sale and equity investments with readily determinable fair values at March 31, 2021 and December 31, 2020: March 31, 2021 (in thousands) Amortized Gross Gross Fair Value Debt securities available-for-sale Mortgage-Related Debt Securities: GSE certificates $ 1,183,746 $ 40,473 $ 14,901 $ 1,209,318 GSE CMOs 2,007,855 28,837 50,422 1,986,270 Total mortgage-related debt securities $ 3,191,601 $ 69,310 $ 65,323 $ 3,195,588 Other Debt Securities: U. S. Treasury obligations $ 64,993 $ 5 $ — $ 64,998 GSE debentures 1,433,280 2,693 67,632 1,368,341 Asset-backed securities (1) 520,111 4,030 3,368 520,773 Municipal bonds 25,715 482 186 26,011 Corporate bonds 870,886 16,594 5,410 882,070 Foreign notes 25,000 993 — 25,993 Capital trust notes 95,621 6,823 8,313 94,131 Total other debt securities $ 3,035,606 $ 31,620 $ 84,909 $ 2,982,317 Total debt securities available for sale $ 6,227,207 $ 100,930 $ 150,232 $ 6,177,905 Equity Securities: Mutual funds 15,814 116 129 15,801 Total equity securities $ 15,814 $ 116 $ 129 $ 15,801 Total securities (2) $ 6,243,021 $ 101,046 $ 150,361 $ 6,193,706 (1) The underlying assets of the asset-backed securities are substantially guaranteed by the U.S. Government. (2) Excludes accrued interest receivable of $ 14.8 million included in other assets in the Consolidated Statements of Condition. December 31, 2020 (in thousands) Amortized Gross Gross Fair Value Debt securities available-for-sale Mortgage-Related Debt Securities: GSE certificates $ 1,155,436 $ 54,310 $ 136 $ 1,209,610 GSE CMOs 1,786,896 44,691 2,872 1,828,715 Total mortgage-related debt securities $ 2,942,332 $ 99,001 $ 3,008 $ 3,038,325 Other Debt Securities: U.S. Treasury obligations $ 64,984 $ 1 $ — $ 64,985 GSE debentures 1,158,253 3,998 3,949 1,158,302 Asset-backed securities (1) 530,226 2,576 5,703 527,099 Municipal bonds 25,776 625 90 26,311 Corporate bonds 870,745 17,928 6,447 882,226 Foreign notes 25,000 538 — 25,538 Capital trust notes 95,507 5,540 10,500 90,547 Total other debt securities $ 2,770,491 $ 31,206 $ 26,689 $ 2,775,008 Total other securities available for sale $ 5,712,823 $ 130,207 $ 29,697 $ 5,813,333 Equity Securities: Preferred stock $ 15,292 $ 201 $ — $ 15,493 Mutual funds 15,814 269 — 16,083 Total equity securities $ 31,106 $ 470 $ — $ 31,576 Total securities (2) $ 5,743,929 $ 130,677 $ 29,697 $ 5,844,909 (1) The underlying assets of the asset-backed securities are substantially guaranteed by the U.S. Government. (2) Excludes accrued interest receivable of $ 14.9 million included in other assets in the Consolidated Statements of Condition.
Summary of Gross Proceeds and Gross Realized Gains and Losses from Sale of Available-for-Sale Securities	The following table summarizes the gross proceeds, gross realized gains, and gross realized losses from the sale of available-for-sale securities during the three months ended March 31, 2021 and 2020: For the Three Months Ended (in thousands) 2021 2020 Gross proceeds — $ 369,972 Gross realized gains — 1,811 Gross realized losses — 1,062
Summary of Amortized Cost of Available-for-Sale Securities by Contractual Maturity	The following table summarizes, by contractual maturity, the amortized cost of securities at March 31, 2021: Mortgage- Average U.S. Average State, Average (1) Other Debt (2) Average Fair (dollars in thousands) Available-for-Sale Debt Securities: Due within one year $ 23,017 3.76 % $ 75,943 0.54 % $ — — % $ 49,817 3.01 % $ 149,348 Due from one to five years 361,118 3.18 21,924 3.52 — — 223,181 1.87 637,035 Due from five to ten years 175,554 2.48 238,052 2.16 19,840 3.51 706,390 2.03 1,146,853 Due after ten years 2,631,912 1.98 1,162,354 1.53 5,875 3.33 532,230 1.25 4,244,669 Total debt securities available for sale $ 3,191,601 2.16 % $ 1,498,273 1.61 % $ 25,715 3.47 % $ 1,511,618 1.76 % $ 6,177,905 (1) Not presented on a tax-equivalent basis. (2) Includes corporate bonds, capital trust notes, and asset-backed securities.
Summary of Held-to-Maturity and Available-for-Sale Securities having Continuous Unrealized Loss Position	The following table presents securities with no related allowance having a continuous unrealized loss position for less than twelve months and for twelve months or longer as of March 31, 2021: Less than Twelve Months Twelve Months or Longer Total (in thousands) Fair Unrealized Fair Unrealized Fair Unrealized Temporarily Impaired Securities: GSE certificates $ 323,281 $ 14,901 $ — $ — $ 323,281 $ 14,901 GSE CMOs 918,257 50,422 — — 918,257 50,422 GSE debentures 1,244,721 67,633 — — 1,244,721 67,633 Asset-backed securities 112,149 405 179,063 2,962 291,212 3,367 Municipal bonds — — 8,744 186 8,744 186 Corporate bonds — — 319,590 5,410 319,590 5,410 Capital trust notes — — 35,601 8,313 35,601 8,313 Equity securities 11,676 129 — — 11,676 129 Total temporarily impaired securities $ 2,610,084 $ 133,490 $ 542,998 $ 16,871 $ 3,153,082 $ 150,361 The following table presents securities having a continuous unrealized loss position for less than twelve months and for twelve months or longer as of December 31, 2020: Less than Twelve Months Twelve Months or Longer Total (in thousands) Fair Unrealized Fair Unrealized Fair Unrealized Temporarily Impaired Securities: U. S. Treasury obligations $ — $ — $ — $ — $ — $ — U. S. Government agency and GSE 58,876 136 — — 58,876 136 GSE certificates 442,207 2,807 73,568 65 515,775 2,872 GSE CMOs 522,441 3,949 — — 522,441 3,949 Asset-backed securities — — 363,618 5,703 363,618 5,703 Municipal bonds — — 8,891 90 8,891 90 Corporate bonds 72,024 2,976 246,528 3,471 318,552 6,447 Foreign notes — — — — — — Capital trust notes — — 33,393 10,500 33,393 10,500 Equity securities — — — — — — Total temporarily impaired securities $ 1,095,548 $ 9,868 $ 725,998 $ 19,829 $ 1,821,546 $ 29,697

Loans and Leases (Tables)

Loans and Leases (Tables)	3 Months Ended
	Mar. 31, 2021
Receivables [Abstract]
Composition of Loan and Lease Portfolio	The following table sets forth the composition of the loan portfolio at the dates indicated: March 31, 2021 December 31, 2020 (dollars in thousands) Amount Percent of Amount Percent of Loans and Leases Held for Investment: Mortgage Loans: Multi-family $ 32,195,256 74.77 % $ 32,236,385 75.28 % Commercial real estate 7,027,236 16.32 6,835,763 15.96 One-to-four family 208,108 0.48 235,989 0.55 Acquisition, development, and construction 115,947 0.27 89,790 0.21 Total mortgage loans held for investment (1) 39,546,547 91.84 $ 39,397,927 92.00 Other Loans: Commercial and industrial 1,610,550 3.74 1,682,519 3.93 Lease financing, net of unearned income of 110,582 and $ 116,366 , respectively 1,898,980 4.41 1,734,824 4.05 Total commercial and industrial loans (2) 3,509,530 8.15 3,417,343 7.98 Other 5,593 0.01 6,520 0.02 Total other loans held for investment (1) 3,515,123 8.16 3,423,863 8.00 Total loans and leases held for investment $ 43,061,670 100.00 % $ 42,821,790 100.00 % Net deferred loan origination costs 63,469 61,808 Allowance for credit losses loans and leases ( 197,758 ) ( 194,043 ) Total loans and leases held for investment, net $ 42,927,381 $ 42,689,555 Loans held for sale (3) 141,435 117,136 Total loans and leases, net $ 43,068,816 $ 42,806,691 ( 1) Excludes accrued interest receivable of $ 219.0 million and $ 219.1 million at March 31, 2021 and December 31, 2020 , respectively, which is included in other assets in the Consolidated Statements of Condition. (2) Includes specialty finance loans and leases of $ 3.2 billion and $ 3.0 billion, respectively, at March 31, 2021 and December 31, 2020 , and other C&I loans of $ 350.8 million and $ 393.3 million, respectively, at March 31, 2021 and December 31, 2020 . (3) Includes deferred loan origination fees of $ 3.8 million and $ 1.7 million at March 31, 2021 and December 31, 2020, respectively .
Quality of Loans Held for Investment	The following table presents information regarding the quality of the Company’s loans held for investment at March 31, 2021: (in thousands) Loans Non- Loans Total Current Total Loans Multi-family $ 961 $ 9,888 $ — $ 10,849 $ 32,184,407 $ 32,195,256 Commercial real estate 19,371 11,573 — 30,944 6,996,292 7,027,236 One-to-four family — 1,466 — 1,466 206,642 208,108 Acquisition, development, and construction — — — — 115,947 115,947 Commercial and industrial (1) (2) — 10,247 — 10,247 3,499,283 3,509,530 Other 13 4 — 17 5,576 5,593 Total loans and leases held for investment $ 20,345 $ 33,178 $ — $ 53,523 $ 43,008,147 $ 43,061,670 (1) Includes $ 10.1 million of taxi medallion-related loans that were 90 days or more past due. There were no taxi medallion-related loans that were 30 to 89 days past due. (2) Includes lease financing receivables, all of which were current. The following table presents information regarding the quality of the Company’s loans held for investment at December 31, 2020: (in thousands) Loans Non- Loans Total Current Total Loans Multi-family $ 4,091 $ 4,068 $ — $ 8,159 $ 32,228,226 $ 32,236,385 Commercial real estate 9,989 12,142 — 22,131 6,813,632 6,835,763 One-to-four family 1,575 1,696 — 3,271 232,718 235,989 Acquisition, development, and construction — — — — 89,790 89,790 Commercial and industrial (1) (2) — 19,866 — 19,866 3,397,477 3,417,343 Other 3 13 — 16 6,504 6,520 Total $ 15,658 $ 37,785 $ — $ 53,443 $ 42,768,347 $ 42,821,790 (1) Includes $ 18.6 million of taxi medallion-related loans that were 90 days or more past due. There were no taxi medallion-related loans that were 30 to 89 days past due. (2) Includes lease financing receivables, all of which were current.
Portfolio of Loans Held for Investment by Credit Quality Indicator	The following table summarizes the Company’s portfolio of loans held for investment by credit quality indicator at March 31, 2021: Mortgage Loans Other Loans (in thousands) Multi- Commercial One-to- Acquisition, Total Commercial (1) Other Total Other Credit Quality Indicator: Pass $ 30,647,027 $ 5,867,168 $ 194,220 $ 101,958 $ 36,810,373 $ 3,450,432 $ 5,589 $ 3,456,021 Special mention 875,091 785,007 5,354 13,989 1,679,441 2,071 — 2,071 Substandard 673,138 375,061 8,534 — 1,056,733 57,027 4 57,031 Doubtful — — — — — — — — Total $ 32,195,256 $ 7,027,236 $ 208,108 $ 115,947 $ 39,546,547 $ 3,509,530 $ 5,593 $ 3,515,123 (1) Includes lease financing receivables, all of which were classified as Pass. The following table summarizes the Company’s portfolio of loans held for investment by credit quality indicator at December 31, 2020: Mortgage Loans Other Loans (in thousands) Multi- Commercial One-to- Acquisition, Total Commercial (1) Other Total Other Credit Quality Indicator: Pass $ 31,220,071 $ 5,884,244 $ 221,861 $ 68,233 $ 37,394,409 $ 3,388,293 $ 6,507 $ 3,394,800 Special mention 566,756 637,101 12,436 21,557 1,237,850 2,842 — 2,842 Substandard 449,558 314,418 1,692 — 765,668 26,208 13 26,221 Doubtful — — — — — — — — Total $ 32,236,385 $ 6,835,763 $ 235,989 $ 89,790 $ 39,397,927 $ 3,417,343 $ 6,520 $ 3,423,863 (1) Includes lease financing receivables, all of which were classified as Pass.
Schedule of Credit Quality Indicator, Loan Class, and Year of Origination, the Amortized Cost Basis of Loans and Leases	The following table presents, by credit quality indicator, loan class, and year of origination, the amortized cost basis of the Company’s loans and leases as of March 31, 2021. (in thousands) Vintage Year Risk Rating Group 2021 2020 2019 2018 2017 Prior To Revolving Total Pass $ 2,092,263 $ 9,587,201 $ 6,432,567 $ 5,472,277 $ 3,995,854 $ 9,238,124 $ 20,182 $ 36,838,468 Special Mention — 13,067 215,301 345,152 136,466 969,925 — 1,679,911 Substandard — — 193,116 249,729 109,848 503,900 — 1,056,593 Total mortgage loans $ 2,092,263 $ 9,600,268 $ 6,840,984 $ 6,067,158 $ 4,242,168 $ 10,711,949 $ 20,182 $ 39,574,972 Pass 249,885 1,004,860 679,606 149,190 195,499 235,594 976,916 3,491,550 Special Mention — — 71 — — — 2,000 2,071 Substandard — 2,132 3,723 1,840 8,688 13,844 26,319 56,546 Total other loans 249,885 1,006,992 683,400 151,030 204,187 249,438 1,005,235 3,550,167 Total $ 2,342,148 $ 10,607,260 $ 7,524,384 $ 6,218,188 $ 4,446,355 $ 10,961,387 $ 1,025,417 $ 43,125,139
Summary of Collateral-Dependent Loans Held for Investment by Collateral Type	The following table summarizes the extent to which collateral secures the Company’s collateral-dependent loans held for investment by collateral type as of March 31, 2021: Collateral (in thousands) Real Other Multi-family $ 6,840 $ — Commercial real estate 25,386 — One-to-four family 329 — Acquisition, development, and construction — — Commercial and industrial — 16,769 Other — — Total collateral-dependent loans held for investment $ 32,555 $ 16,769
Information Regarding Troubled Debt Restructurings	The following table presents information regarding the Company’s TDRs as of March 31, 2021 and December 31, 2020: March 31, 2021 December 31, 2020 (in thousands) Accruing Non- Total Accruing Non- Total Loan Category: Multi-family $ — $ 6,840 $ 6,840 $ — $ — $ — Commercial real estate 14,894 — 14,894 14,967 — 14,967 One-to-four family — 330 330 — 557 557 Commercial and industrial (1) — 10,134 10,134 — 18,761 18,761 Total $ 14,894 $ 17,304 $ 32,198 $ 14,967 $ 19,318 $ 34,285 (1) Includes $ 10 .0 million and $ 17.5 million of taxi medallion-related loans at March 31, 2021 and December 31, 2020 , respectively .
Financial Effects of Troubled Debt Restructurings	The financial effects of the Company’s TDRs for the three months ended March 31, 2021 and 2020 are summarized as follows: For the Three Months Ended March 31, 2021 Weighted Average (dollars in thousands) Number Pre- Post- Pre- Post- Charge- Capitalized Loan Category: Multi-family 1 $ 7,515 $ 7,515 3.13 % 3.25 % $ - $ - For the Three Months Ended March 31, 2020 Weighted Average (dollars in thousands) Number Pre- Post- Pre- Post- Charge- Capitalized Loan Category: Commercial and industrial 8 $ 1,920 $ 1,572 3.29 % 3.24 % $ 348 $ —

Allowance for Credit Losses o_2

Allowance for Credit Losses on Loans and Leases (Tables)	3 Months Ended
	Mar. 31, 2021
Summary of Additional Information about Nonaccrual Loans	The following table presents additional information about the Company’s nonaccrual loans at March 31, 2021: (in thousands) Recorded Related Interest Nonaccrual loans with no related allowance: Multi-family $ 6,840 $ — $ 81 Commercial real estate 10,491 - - One-to-four family 330 - 3 Acquisition, development, and construction - - - Other 10,205 - 18 Total nonaccrual loans with no related allowance $ 27,866 $ — $ 102 Nonaccrual loans with an allowance recorded: Multi-family $ 3,048 $ 435 $ — Commercial real estate 1,082 84 2 One-to-four family 1,137 365 3 Acquisition, development, and construction - - - Other 45 20 1 Total nonaccrual loans with an allowance recorded $ 5,312 $ 904 $ 6 Total nonaccrual loans: Multi-family $ 9,888 $ 435 $ 81 Commercial real estate 11,573 84 2 One-to-four family 1,467 365 6 Acquisition, development, and construction - - - Other 10,250 20 19 Total nonaccrual loans $ 33,178 $ 904 $ 108 The following table presents additional information about the Company’s nonaccrual loans at December 31, 2020: (in thousands) Recorded Related Interest Nonaccrual loans with no related allowance: Multi-family $ — $ — $ — Commercial real estate 2,256 — — One-to-four family 557 — 21 Acquisition, development, and construction — — — Other 19,821 — 820 Total nonaccrual loans with no related allowance $ 22,634 $ — $ 841 Nonaccrual loans with an allowance recorded: Multi-family $ 4,068 $ 589 $ 28 Commercial real estate 9,886 133 52 One-to-four family 1,139 370 14 Acquisition, development, and construction — — — Other 58 18 5 Total nonaccrual loans with an allowance recorded $ 15,151 $ 1,110 $ 99 Total nonaccrual loans: Multi-family $ 4,068 $ 589 $ 28 Commercial real estate 12,142 133 52 One-to-four family 1,696 370 35 Acquisition, development, and construction — — — Other 19,879 18 825 Total nonaccrual loans $ 37,785 $ 1,110 $ 940
Non-Covered Loans
Summary of Activity in Allowance for Loan and Lease Losses	The following table summarizes activity in the allowance for credit losses on loans and leases for the periods indicated: For the Three Months Ended March 31, 2021 2020 (in thousands) Mortgage Other Total Mortgage Other Total Balance, beginning of period $ 176,538 $ 17,505 $ 194,043 $ 122,695 $ 24,943 $ 147,638 Impact of CECL adoption — - — ( 178 ) 2,089 1,911 Adjusted balance, beginning of period 176,538 17,505 194,043 122,517 27,032 149,549 Charge-offs ( 658 ) ( 3,666 ) ( 4,324 ) — ( 10,385 ) ( 10,385 ) Recoveries 20 4,821 4,841 11 178 189 Provision for credit losses 527 2,671 3,198 18,786 4,105 22,891 Balance, end of period $ 176,427 $ 21,331 $ 197,758 $ 141,314 $ 20,930 $ 162,244

Borrowed Funds (Tables)

Borrowed Funds (Tables)	3 Months Ended
	Mar. 31, 2021
Summary of Borrowed Funds	The following table summarizes the Company’s borrowed funds at the dates indicated: (in thousands) March 31, December 31, Wholesale Borrowings: FHLB advances $ 14,302,661 $ 14,627,661 Repurchase agreements 800,000 800,000 Total wholesale borrowings $ 15,102,661 $ 15,427,661 Junior subordinated debentures 360,362 360,259 Subordinated notes 295,764 295,624 Total borrowed funds $ 15,758,787 $ 16,083,544
Summary of Repurchase Agreements Accounted for Secured Borrowings	The following table summarizes the Company’s repurchase agreements accounted for as secured borrowings at March 31, 2021: Remaining Contractual Maturity of the Agreements (in thousands) Overnight and Up to 30–90 Days Greater than GSE obligations $ — $ — $ — $ 800,000
Junior Subordinated Debentures Outstanding	The following junior subordinated debentures were outstanding at March 31, 2021: Issuer Interest Junior Capital Date of Stated First (dollars in thousands) New York Community Capital Trust V SM Units) 6.00 % $ 146,436 $ 140,085 Nov. 4, 2002 Nov. 1, 2051 Nov. 4, 2007 (1) New York Community Capital Trust X 1.78 123,712 120,000 Dec. 14, 2006 Dec. 15, 2036 Dec. 15, 2011 (2) PennFed Capital Trust III 3.43 30,928 30,000 June 2, 2003 June 15, 2033 June 15, 2008 (2) New York Community Capital Trust XI 1.85 59,286 57,500 April 16, 2007 June 30, 2037 June 30, 2012 (2) Total junior subordinated debentures $ 360,362 $ 347,585 (1) Callable subject to certain conditions as described in the prospectus filed with the SEC on November 4, 2002. (2) Callable from this date forward.
Subordinated Debt
Junior Subordinated Debentures Outstanding	At March 31, 2021 and December 31, 2020 , the Company had $ 295.8 million and $ 295.6 million, respectively, of fixed-to-floating rate subordinated notes outstanding: Date of Original Issue Stated Interest (1) Original Issue (dollars in thousands) Nov. 6, 2018 Nov. 6, 2028 5.90 % $ 300,000 (1) From and including the date of original issuance to, but excluding November 6, 2023, the Notes will bear interest at an initial rate of 5.90 % per annum payable semi-annually. Unless redeemed, from and including November 6, 2023 to but excluding the maturity date, the interest rate will reset quarterly to an annual interest rate equal to the then-current three-month LIBOR rate plus 278 basis points payable quarterly.

Pension and Other Post-Retire_2

Pension and Other Post-Retirement Benefits (Tables)	3 Months Ended
	Mar. 31, 2021
General Discussion Of Pension And Other Postretirement Benefits [Abstract]
Pension and Post-Retirement Plans	The following table sets forth certain disclosures for the Company’s pension and post-retirement plans for the periods indicated: For the Three Months Ended March 31, 2021 2020 (in thousands) Pension Post- Pension Post- Components of net periodic (credit) expense: (1) Interest cost $ 912 $ 56 $ 1,173 $ 82 Expected return on plan assets ( 4,016 ) - ( 3,876 ) — Amortization of prior-service liability - ( 62 ) — ( 62 ) Amortization of net actuarial loss 1,732 11 1,831 6 Net periodic (credit) expense $ ( 1,372 ) $ 5 $ ( 872 ) $ 26 (1) Amounts are included in G&A expense on the Consolidated Statements of Income and Comprehensive Income.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Activity for Restricted Stock Awards	The following table provides a summary of activity with regard to restricted stock awards in the three months ended March 31, 2021: Number of Weighted Average Unvested at beginning of year 6,228,048 $ 12.43 Granted 3,029,949 11.15 Vested ( 1,918,654 ) 13.21 Canceled ( 59,260 ) 11.65 Unvested at end of period 7,280,083 11.70
Summary of Activity for Performance-Based Restricted Stock Units	The following table provides a summary of activity with regard to Performance-Based Restricted Stock Units ("PSUs") in the three months ended March 31, 2021: Number of Performance Expected Outstanding at beginning of year 477,872 Granted 307,479 January 1, 2021 - December 31, 2023 March 31, 2024 Outstanding at end of period 785,351

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring Basis	The following tables present assets and liabilities that were measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020, and that were included in the Company’s Consolidated Statements of Condition at those dates: Fair Value Measurements at March 31, 2021 (in thousands) Quoted Prices Significant Significant Netting Total Fair Assets: Mortgage-Related Debt Securities Available for Sale: GSE certificates $ — $ 1,209,318 $ — $ — $ 1,209,318 GSE CMOs — 1,986,270 — — 1,986,270 Total mortgage-related debt securities $ — $ 3,195,588 $ — $ — $ 3,195,588 Other Debt Securities Available for Sale: U. S. Treasury obligations $ 64,998 $ — $ — $ — $ 64,998 GSE debentures — 1,368,341 — — 1,368,341 Asset-backed securities — 520,773 — — 520,773 Municipal bonds — 26,011 — — 26,011 Corporate bonds — 882,070 — — 882,070 Foreign notes — 25,993 25,993 Capital trust notes — 94,131 — — 94,131 Total other debt securities $ 64,998 $ 2,917,319 $ — $ — $ 2,982,317 Total debt securities available for sale $ 64,998 $ 6,112,907 $ — $ — $ 6,177,905 Equity securities: Mutual funds — 15,801 — — 15,801 Total equity securities $ — $ 15,801 $ — $ — $ 15,801 Total securities $ 64,998 $ 6,128,708 $ — $ — $ 6,193,706 Fair Value Measurements at December 31, 2020 (in thousands) Quoted Prices Significant Significant Netting Total Fair Assets: Mortgage-Related Debt Securities Available for Sale: GSE certificates $ — $ 1,209,610 $ — $ — $ 1,209,610 GSE CMOs — 1,828,715 — — 1,828,715 Total mortgage-related debt securities $ — $ 3,038,325 $ — $ — $ 3,038,325 Other Debt Securities Available for Sale: U.S. Treasury obligations $ 64,985 $ — $ — $ — $ 64,985 GSE debentures — 1,158,302 — — 1,158,302 Asset-backed securities — 527,099 — — 527,099 Municipal bonds — 26,311 — — 26,311 Corporate bonds — 882,226 — — 882,226 Foreign notes — 25,538 25,538 Capital trust notes — 90,547 — — 90,547 Total other debt securities $ 64,985 $ 2,710,023 $ — $ — $ 2,775,008 Total debt securities available for sale $ 64,985 $ 5,748,348 $ — $ — $ 5,813,333 Equity securities: Preferred stock $ 15,493 $ — $ — $ — $ 15,493 Mutual funds — 16,083 — — 16,083 Total equity securities $ 15,493 $ 16,083 $ — $ — $ 31,576 Total securities $ 80,478 $ 5,764,431 $ — $ — $ 5,844,909
Summary of Carrying Values, Estimated Fair Values and Fair Value Measurement Levels of Financial Instruments	The following tables present assets and liabilities that were measured at fair value on a non-recurring basis as of March 31, 2021 and December 31, 2020, and that were included in the Company’s Consolidated Statements of Condition at those dates: Fair Value Measurements at March 31, 2021 Using (in thousands) Quoted Prices in Significant Other Significant Total Fair Certain nonaccrual loans (1) $ — $ — $ 23,172 $ 23,172 Other assets (2) — — 10,583 10,583 Total $ — $ — $ 33,755 $ 33,755 (1) Represents the fair value of impaired loans, based on the value of the collateral. (2) Represents the fair value of repossessed assets, based on the appraised value of the collateral subsequent to its initial classification as repossessed assets and equity investments without readily determinable fair values. These equity investments are classified as Level 3 due to the infrequency of the observable prices and/or the restrictions on the shares. Fair Value Measurements at December 31, 2020 Using (in thousands) Quoted Prices in Significant Other Significant Total Fair Certain nonaccrual loans (1) $ — $ — $ 41,066 $ 41,066 Other assets (2) — — 5,655 5,655 Total $ — $ — $ 46,721 $ 46,721 (1) Represents the fair value of impaired loans, based on the value of the collateral. (2) Represents the fair value of repossessed assets, based on the appraised value of the collateral subsequent to its initial classification as repossessed assets and equity investments without readily determinable fair values. These equity investments are classified as Level 3 due to the infrequency of the observable prices and/or the restrictions on the shares.
Assets and Liabilities Measured at Fair Value on Non-Recurring Basis	The following tables summarize the carrying values, estimated fair values, and fair value measurement levels of financial instruments that were not carried at fair value on the Company’s Consolidated Statements of Condition at March 31, 2021 and December 31, 2020: March 31, 2021 Fair Value Measurement Using (in thousands) Carrying Value Estimated Quoted Prices Significant Significant Financial Assets: Cash and cash equivalents $ 2,722,915 $ 2,722,915 $ 2,722,915 $ — $ — FHLB stock (1) 698,984 698,984 — 698,984 — Loans, net 43,068,816 42,433,118 — — 42,433,118 Financial Liabilities: Deposits $ 34,197,136 $ 34,215,071 $ 24,582,838 (2) $ 9,632,233 (3) $ — Borrowed funds 15,758,787 16,475,503 — 16,475,503 — (1) Carrying value and estimated fair value are at cost. (2) Interest-bearing checking and money market accounts, savings accounts, and non-interest-bearing accounts. (3) Certificates of deposit. December 31, 2020 Fair Value Measurement Using (in thousands) Carrying Estimated Quoted Prices Significant Significant Financial Assets: Cash and cash equivalents $ 1,947,931 $ 1,947,931 $ 1,947,931 $ — $ — FHLB stock (1) 714,005 714,005 — 714,005 — Loans, net 42,806,691 42,376,214 — $ — 42,376,214 Financial Liabilities: Deposits $ 32,436,813 $ 32,466,013 $ 22,106,133 (2) $ 10,359,880 (3) $ — Borrowed funds 16,083,544 16,794,338 — 16,794,338 — (1) Carrying value and estimated fair value are at cost. (2) Interest-bearing checking and money market accounts, savings accounts, and non-interest-bearing accounts. (3) Certificates of deposit.

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Components of Lease Income	The components of lease income were as follows: (in thousands) For the For the Interest income on lease financing (1) $ 13,871 $ 11,949 (1) Included in Interest Income – Loans and leases in the Consolidated Statements of Income and Comprehensive Income.
Components of Net Investment in Direct Financing Leases	The components of net investment in direct financing leases, including the carrying amount of the lease receivables, as well as the unguaranteed residual asset were as follows: (in thousands) March 31, December 31, Net investment in the lease - lease payments receivable $ 1,929,213 $ 1,771,097 Net investment in the lease - unguaranteed 80,349 80,093 Total lease payments $ 2,009,562 $ 1,851,190
Summary of Remaining Maturity of Undiscounted Lease Receivables	The following table presents the remaining maturity analysis of the undiscounted lease receivables as of March 31, 2021, as well as the reconciliation to the total amount of receivables recognized in the Consolidated Statements of Condition: (in thousands) March 31, 2021 $ 24,349 2022 111,308 2023 342,220 2024 236,013 2025 427,495 Thereafter 868,177 Total lease payments 2,009,562 Plus: deferred origination costs 30,823 Less: unearned income ( 110,582 ) Total lease finance receivables, net $ 1,929,803
Summary of Components of Lease Expense	The components of lease expense were as follows: (in thousands) For the For the Operating lease cost $ 6,750 $ 6,759 Sublease income ( 28 ) ( 11 ) Total lease cost $ 6,722 $ 6,748
Summary of Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to the leases for the following periods: (in thousands) For the For the Cash paid for amounts included in the measurement Operating cash flows from operating leases $ 6,750 $ 6,759
Summary of Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to the leases for the following periods: (in thousands, except lease term and discount rate) March 31, December 31, Operating Leases: Operating lease right-of-use assets 262,196 $ 266,864 Operating lease liabilities 262,169 266,846 Weighted average remaining lease term 16 years 16 years Weighted average discount rate 3.08 % 3.12 %
Summary of Maturities of Lease Liabilities	Maturities of lease liabilities: March 31, (in thousands) 2021 $ 20,099 2022 25,893 2023 25,435 2024 24,764 2025 24,073 Thereafter 222,215 Total lease payments 342,479 Less: imputed interest ( 80,310 ) Total present value of lease liabilities $ 262,169

Derivative and Hedging Activi_2

Derivative and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2021
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Schedule of Cumulative Basis Adjustment for Fair Value Hedges	As of March 31, 2021, the following amounts were recorded on the balance sheet related to cumulative basis adjustment for fair value hedges: (in thousands) March 31, 2021 Line Item in the Consolidated Statements of Condition in which the Hedge Item is Included Carrying Cumulative Total loans and leases, net (1) $ 2,047,999 $ 47,999 (1) These amounts include the amortized cost basis of closed portfolios used to designate hedging relationships in which the hedged item is the last layer expected to be remaining at the end of the hedging relationship. At March 31, 2021 , the amortized cost basis of the closed portfolios used in these hedging relationships was $ 3.4 billion; the cumulative basis adjustments associated with these hedging relationships was $ 48.0 million; and the amount of the designated hedged items was $ 2.0 billion. As of December 31, 2020, the following amounts were recorded on the balance sheet related to cumulative basis adjustment for fair value hedges: (in thousands) December 31, 2020 Line Item in the Consolidated Statements of Condition in which the Hedge Item is Included Carrying Cumulative Total loans and leases, net (1) $ 2,073,214 $ 73,214 (1) These amounts include the amortized cost basis of closed portfolios used to designate hedging relationships in which the hedged item is the last layer expected to be remaining at the end of the hedging relationship. At December 31, 2020 the amortized cost basis of the closed portfolios used in these hedging relationships was $ 3.6 billion; the cumulative basis adjustments associated with these hedging relationships was $ 73.2 million; and the amount of the designated hedged items was $ 2.0 billion.
Information Regarding Derivative Financial Instruments	The following table sets forth information regarding the Company’s derivative financial instruments at March 31, 2021 and December 31, 2020: Notional Other Other Derivatives designated as fair value hedging Interest rate swap $ 2,000,000 $ — $ — Total derivatives designated as fair value hedging $ 2,000,000 $ — $ —
Effect of Derivative Instruments on Consolidated Statements of Income and Comprehensive Income	The following table sets forth the effect of derivative instruments on the Consolidated Statements of Income and Comprehensive Income for the periods indicated. (in thousands) For the Three For the Three Derivative – interest rate swap: Interest income $ 25,215 $ ( 28,130 ) Hedged item – loans: Interest income $ ( 25,215 ) $ 28,130
Information about Interest Rate Swaps Designated as Cash Flow Hedges	The following table summarizes information about the interest rate swaps designated as cash flow hedges at March 31, 2021 and December 31, 2020: (dollars in thousands) March 31, December 31, Notional amounts $ 2,250,000 $ 2,250,000 Cash collateral posted 35,109 45,532 Weighted average pay rates 1.27 % 1.27 % Weighted average receive rates 0.20 % 0.23 % Weighted average maturity 1.7 years 1.9 years
Effect of Cash Flow Derivative Instruments on AOCL	The following table presents the effect of the Company’s cash flow derivative instruments on AOCL for the three months ended March 31, 2021 and 2020: (in thousands) For the Three For the Three Amount of gain (loss) recognized in AOCL $ 4,532 $ ( 49,285 ) Amount of gain (loss) reclassified from AOCL to interest expense 5,891 ( 645 )

Organization, Basis of Presen_3

Organization, Basis of Presentation, and Impact of Recent Accounting Pronouncements - Additional Information (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)Branch$ / shares	Dec. 31, 2020$ / shares
Organization and Basis of Presentation [Line Items]
Common stock, par | $ / shares	$ 0.01	$ 0.01
Description of nine stock splits	($0.93 per share on a split-adjusted basis, reflecting the impact of nine stock splits between 1994 and 2004)
Cumulative effect on retained earnings, reduction in tax | $	$ 10.5
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
New York Community Bank
Organization and Basis of Presentation [Line Items]
Number of branches | Branch	237
New York Community Bank | Corporate Segment
Organization and Basis of Presentation [Line Items]
Number of branches | Branch	19
New York Community Bank | Corporate and Other
Organization and Basis of Presentation [Line Items]
Number of branches | Branch	218
IPO
Organization and Basis of Presentation [Line Items]
Shares issued, price per share | $ / shares	$ 25
Shares issued, price per share, split adjusted basis | $ / shares	$ 0.93

Computation of Earnings per C_3

Computation of Earnings per Common Share - Computation of Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Share [Abstract]
Net income available to common shareholders	$ 137,389	$ 92,121
Less: Dividends paid on and earnings allocated to participating securities	1,795	1,170
Earnings applicable to common stock	$ 135,594	$ 90,951
Weighted average common shares outstanding	463,292,906	464,993,970
Basic earnings per common share	$ 0.29	$ 0.20
Earnings applicable to common stock	$ 135,594	$ 90,951
Potential dilutive common shares	594,031	418,674
Total shares for diluted earnings per common share computation	463,886,937	465,412,644
Diluted earnings per common share and common share equivalents	$ 0.29	$ 0.20

Reclassifications Out of Accu_3

Reclassifications Out of Accumulated Other Comprehensive Loss - Reclassifications of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax (expense) benefit		$ 50,500	$ 14,915
Net income		145,596	100,328
Interest expense		105,449	$ 196,575
Reclassifications, net of tax	[1]	(5,493)
Past service liability
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassifications, before tax	[1],[2]	62
Actuarial losses
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassifications, before tax	[1],[2]	(1,743)
Amortization of defined benefit pension
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassifications, before tax	[1]	(1,681)
Tax benefit	[1]	462
Reclassifications, net of tax	[1]	(1,219)
Reclassification out of Accumulated Other Comprehensive Income (loss) | Unrealized gains (losses) on available-for-sale securities
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net gain (losses) on securities	[1]
Income tax (expense) benefit	[1]
Net income	[1]
Reclassification out of Accumulated Other Comprehensive Income (loss) | Unrealized loss on cash flow hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax (expense) benefit	[1]	1,617
Net income	[1]	(4,274)
Interest expense	[1]	$ (5,891)
[1]	Amounts in parentheses indicate expense items.
[2]	See Note 8, “Pension and Other Post-Retirement Benefits,” for additional information.

Securities - Summary of Portfol

Securities - Summary of Portfolio of Securities Available for Sale (Details) - USD ($) $ in Thousands	Mar. 31, 2021		Dec. 31, 2020
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 6,243,021	[1]	$ 5,743,929	[2]
Gross Unrealized Gain	101,046	[1]	130,677	[2]
Gross Unrealized Loss	150,361	[1]	29,697	[2]
Fair Value	6,193,706	[1]	5,844,909	[2]
Asset-backed Securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	520,111	[3]	530,226	[4]
Gross Unrealized Gain	4,030	[3]	2,576	[4]
Gross Unrealized Loss	3,368	[3]	5,703	[4]
Fair Value	520,773	[3]	527,099	[4]
Mutual Funds
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	15,814		15,814
Gross Unrealized Gain	116		269
Gross Unrealized Loss	129
Fair Value	15,801		16,083
Mortgage-Related Securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	3,191,601		2,942,332
Gross Unrealized Gain	69,310		99,001
Gross Unrealized Loss	65,323		3,008
Fair Value	3,195,588		3,038,325
Mortgage-Related Securities | GSE Certificates
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,183,746		1,155,436
Gross Unrealized Gain	40,473		54,310
Gross Unrealized Loss	14,901		136
Fair Value	1,209,318		1,209,610
Mortgage-Related Securities | GSE CMOs
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	2,007,855		1,786,896
Gross Unrealized Gain	28,837		44,691
Gross Unrealized Loss	50,422		2,872
Fair Value	1,986,270		1,828,715
Debt Securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	3,035,606		2,770,491
Gross Unrealized Gain	31,620		31,206
Gross Unrealized Loss	84,909		26,689
Fair Value	2,982,317		2,775,008
Debt Securities | U.S. Treasury Obligations
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	64,993		64,984
Gross Unrealized Gain	5		1
Fair Value	64,998		64,985
Debt Securities | GSE Debentures
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,433,280		1,158,253
Gross Unrealized Gain	2,693		3,998
Gross Unrealized Loss	67,632		3,949
Fair Value	1,368,341		1,158,302
Debt Securities | Municipal Bonds
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	25,715		25,776
Gross Unrealized Gain	482		625
Gross Unrealized Loss	186		90
Fair Value	26,011		26,311
Debt Securities | Corporate Bonds
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	870,886		870,745
Gross Unrealized Gain	16,594		17,928
Gross Unrealized Loss	5,410		6,447
Fair Value	882,070		882,226
Debt Securities | Foreign Notes
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	25,000		25,000
Gross Unrealized Gain	993		538
Fair Value	25,993		25,538
Debt Securities | Capital Trust Notes
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	95,621		95,507
Gross Unrealized Gain	6,823		5,540
Gross Unrealized Loss	8,313		10,500
Fair Value	94,131		90,547
Mortgage Backed Securities And Other Securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	6,227,207		5,712,823
Gross Unrealized Gain	100,930		130,207
Gross Unrealized Loss	150,232		29,697
Fair Value	6,177,905		5,813,333
Equity Securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	15,814		31,106
Gross Unrealized Gain	116		470
Gross Unrealized Loss	129
Fair Value	$ 15,801		31,576
Equity Securities | Preferred Stock
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost			15,292
Gross Unrealized Gain			201
Fair Value			$ 15,493
[1]	Excludes accrued interest receivable of $ 14.8 million included in other assets in the Consolidated Statements of Condition.
[2]	Excludes accrued interest receivable of $ 14.9 million included in other assets in the Consolidated Statements of Condition.
[3]	The underlying assets of the asset-backed securities are substantially guaranteed by the U.S. Government.
[4]	The underlying assets of the asset-backed securities are substantially guaranteed by the U.S. Government.

Securities - Summary of Portf_2

Securities - Summary of Portfolio of Securities Available for Sale (Parenthetical) (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Available-for-sale Securities
Schedule of Available-for-sale Securities [Line Items]
Accrued interest receivable	$ 14.8	$ 14.9

Securities - Additional Informa

Securities - Additional Information (Details)	3 Months Ended
	Mar. 31, 2021USD ($)Investment		Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)Investment
Schedule of Investments [Line Items]
Federal Home Loan Bank stock, at cost | $	$ 698,984,000	[1]		$ 714,005,000	[2]
Net losses on equity securities | $	$ 483,000		$ 215,000
Collateralized Mortgage Obligations
Schedule of Investments [Line Items]
Number of investment securities designated as having a continuous loss position for twelve months or more				4
Capital Trust Notes
Schedule of Investments [Line Items]
Number of investment securities designated as having a continuous loss position for twelve months or more	5			5
Asset-backed Securities
Schedule of Investments [Line Items]
Number of investment securities designated as having a continuous loss position for twelve months or more	5			7
Corporate Bonds
Schedule of Investments [Line Items]
Number of investment securities designated as having a continuous loss position for twelve months or more	5			3
Municipal Bonds
Schedule of Investments [Line Items]
Number of investment securities designated as having a continuous loss position for twelve months or more	1			1
[1]	Carrying value and estimated fair value are at cost.
[2]	Carrying value and estimated fair value are at cost.

Securities - Summary of Gross P

Securities - Summary of Gross Proceeds and Gross Realized Gains and Losses from Sale of Available-for-Sale Securities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Investments Debt And Equity Securities [Abstract]
Gross proceeds		$ 369,972
Gross realized gains		1,811
Gross realized losses		$ 1,062

Securities - Summary of Amortiz

Securities - Summary of Amortized Cost of Available-for-Sale Securities by Contractual Maturity (Details) $ in Thousands	Mar. 31, 2021USD ($)
Available-for-Sale Debt Securities:
Due within one year	$ 149,348
Due from one to five years	637,035
Due from five to ten years	1,146,853
Due after ten years	4,244,669
Total debt securities available for sale	6,177,905
Mortgage-Related Securities
Available-for-Sale Debt Securities:
Due within one year	23,017
Due from one to five years	361,118
Due from five to ten years	175,554
Due after ten years	2,631,912
Total debt securities available for sale	$ 3,191,601
Available-for-Sale Securities, Average Yield
Due within one year, Average Yield	3.76%
Due from one to five years, Average Yield	3.18%
Due from five to ten years, Average Yield	2.48%
Due after ten years, Average Yield	1.98%
Total securities available for sale, Average Yield	2.16%
U.S. Government and GSE obligations
Available-for-Sale Debt Securities:
Due within one year	$ 75,943
Due from one to five years	21,924
Due from five to ten years	238,052
Due after ten years	1,162,354
Total debt securities available for sale	$ 1,498,273
Available-for-Sale Securities, Average Yield
Due within one year, Average Yield	0.54%
Due from one to five years, Average Yield	3.52%
Due from five to ten years, Average Yield	2.16%
Due after ten years, Average Yield	1.53%
Total securities available for sale, Average Yield	1.61%
State, County, and Municipal
Available-for-Sale Debt Securities:
Due from five to ten years	$ 19,840
Due after ten years	5,875
Total debt securities available for sale	$ 25,715
Available-for-Sale Securities, Average Yield
Due from five to ten years, Average Yield	3.51%	[1]
Due after ten years, Average Yield	3.33%	[1]
Total securities available for sale, Average Yield	3.47%	[1]
Other Debt Securities
Available-for-Sale Debt Securities:
Due within one year	$ 49,817	[2]
Due from one to five years	223,181	[2]
Due from five to ten years	706,390	[2]
Due after ten years	532,230	[2]
Total debt securities available for sale	$ 1,511,618	[2]
Available-for-Sale Securities, Average Yield
Due within one year, Average Yield	3.01%
Due from one to five years, Average Yield	1.87%
Due from five to ten years, Average Yield	2.03%
Due after ten years, Average Yield	1.25%
Total securities available for sale, Average Yield	1.76%
[1]	Not presented on a tax-equivalent basis.
[2]	Includes corporate bonds, capital trust notes, and asset-backed securities.

Securities - Summary of Held-to

Securities - Summary of Held-to-Maturity and Available-for-Sale Securities Having Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Schedule of Investments [Line Items]
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Fair Value	$ 2,610,084	$ 1,095,548
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Unrealized Loss	133,490	9,868
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Fair Value	542,998	725,998
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Unrealized Loss	16,871	19,829
Temporarily Impaired Available-for-Sale Securities, Total Fair Value	3,153,082	1,821,546
Temporarily Impaired Available-for-Sale Securities, Total Unrealized Loss	150,361	29,697
Debt Securities | U.S. Government and GSE obligations
Schedule of Investments [Line Items]
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Fair Value		58,876
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Unrealized Loss		136
Temporarily Impaired Available-for-Sale Securities, Total Fair Value		58,876
Temporarily Impaired Available-for-Sale Securities, Total Unrealized Loss		136
Debt Securities | GSE Certificates
Schedule of Investments [Line Items]
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Fair Value	323,281	442,207
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Unrealized Loss	14,901	2,807
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Fair Value		73,568
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Unrealized Loss		65
Temporarily Impaired Available-for-Sale Securities, Total Fair Value	323,281	515,775
Temporarily Impaired Available-for-Sale Securities, Total Unrealized Loss	14,901	2,872
Debt Securities | GSE CMOs
Schedule of Investments [Line Items]
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Fair Value	918,257	522,441
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Unrealized Loss	50,422	3,949
Temporarily Impaired Available-for-Sale Securities, Total Fair Value	918,257	522,441
Temporarily Impaired Available-for-Sale Securities, Total Unrealized Loss	50,422	3,949
Debt Securities | GSE Debentures
Schedule of Investments [Line Items]
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Fair Value	1,244,721
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Unrealized Loss	67,633
Temporarily Impaired Available-for-Sale Securities, Total Fair Value	1,244,721
Temporarily Impaired Available-for-Sale Securities, Total Unrealized Loss	67,633
Debt Securities | Asset-backed Securities
Schedule of Investments [Line Items]
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Fair Value	112,149
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Unrealized Loss	405
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Fair Value	179,063	363,618
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Unrealized Loss	2,962	5,703
Temporarily Impaired Available-for-Sale Securities, Total Fair Value	291,212	363,618
Temporarily Impaired Available-for-Sale Securities, Total Unrealized Loss	3,367	5,703
Debt Securities | Municipal Bonds
Schedule of Investments [Line Items]
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Fair Value	8,744	8,891
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Unrealized Loss	186	90
Temporarily Impaired Available-for-Sale Securities, Total Fair Value	8,744	8,891
Temporarily Impaired Available-for-Sale Securities, Total Unrealized Loss	186	90
Debt Securities | Corporate Bonds
Schedule of Investments [Line Items]
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Fair Value		72,024
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Unrealized Loss		2,976
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Fair Value	319,590	246,528
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Unrealized Loss	5,410	3,471
Temporarily Impaired Available-for-Sale Securities, Total Fair Value	319,590	318,552
Temporarily Impaired Available-for-Sale Securities, Total Unrealized Loss	5,410	6,447
Debt Securities | Capital Trust Notes
Schedule of Investments [Line Items]
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Fair Value	35,601	33,393
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Unrealized Loss	8,313	10,500
Temporarily Impaired Available-for-Sale Securities, Total Fair Value	35,601	33,393
Temporarily Impaired Available-for-Sale Securities, Total Unrealized Loss	8,313	$ 10,500
Equity Securities
Schedule of Investments [Line Items]
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Fair Value	11,676
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Unrealized Loss	129
Temporarily Impaired Available-for-Sale Securities, Total Fair Value	11,676
Temporarily Impaired Available-for-Sale Securities, Total Unrealized Loss	$ 129

Loans and Leases - Composition

Loans and Leases - Composition of Loan and Lease Portfolio (Details) - USD ($) $ in Thousands		Mar. 31, 2021		Dec. 31, 2020		Mar. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		$ 43,061,670		$ 42,821,790
Non-Covered Loans, Percentage		100.00%		100.00%
Net deferred loan origination costs		$ 63,469		$ 61,808
Allowance for credit losses loans and leases		(197,758)		(194,043)		$ (162,244)	$ (147,638)
Total loans and leases held for investment, net		42,927,381		42,689,555
Loans held for sale	[1]	141,435		117,136
Total loans and leases held for investment and held for sale, net		43,068,816		42,806,691
Multi-Family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		$ 32,195,256		$ 32,236,385
Non-Covered Loans, Percentage		74.77%		75.28%
Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		$ 7,027,236		$ 6,835,763
Non-Covered Loans, Percentage		16.32%		15.96%
One-to-Four Family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		$ 208,108		$ 235,989
Non-Covered Loans, Percentage		0.48%		0.55%
Acquisition, Development, and Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		$ 115,947		$ 89,790
Non-Covered Loans, Percentage		0.27%		0.21%
Mortgage Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans	[2]	$ 39,546,547		$ 39,397,927
Non-Covered Loans, Percentage	[2]	91.84%		92.00%
Allowance for credit losses loans and leases		$ (176,427)		$ (176,538)		$ (141,314)	$ (122,695)
Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans	[4]	$ 3,509,530	[3]	$ 3,417,343	[5]
Non-Covered Loans, Percentage	[4]	8.15%		7.98%
Commercial and Industrial | Other Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		$ 1,610,550		$ 1,682,519
Non-Covered Loans, Percentage		3.74%		3.93%
Lease Financing, Unearned Income
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		$ 1,898,980		$ 1,734,824
Non-Covered Loans, Percentage		4.41%		4.05%
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		$ 5,593		$ 6,520
Non-Covered Loans, Percentage		0.01%		0.02%
Total Other Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		$ 3,515,123		$ 3,423,863
Total Other Loans | Other Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans	[2]	$ 3,515,123		$ 3,423,863
Non-Covered Loans, Percentage	[2]	8.16%		8.00%
[1]	Includes deferred loan origination fees of $ 3.8 million and $ 1.7 million at March 31, 2021 and December 31, 2020, respectively
[2]	Excludes accrued interest receivable of $ 219.0 million and $ 219.1 million at March 31, 2021 and December 31, 2020 , respectively, which is included in other assets in the Consolidated Statements of Condition.
[3]	Includes lease financing receivables, all of which were classified as Pass.
[4]	Includes specialty finance loans and leases of $ 3.2 billion and $ 3.0 billion, respectively, at March 31, 2021 and December 31, 2020 , and other C&I loans of $ 350.8 million and $ 393.3 million, respectively, at March 31, 2021 and December 31, 2020 .
[5]	Includes lease financing receivables, all of which were classified as Pass.

Loans and Leases - Compositio_2

Loans and Leases - Composition of Loan and Lease Portfolio (Parenthetical) (Details) - USD ($) $ in Thousands		3 Months Ended		12 Months Ended
		Mar. 31, 2021		Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		$ 43,061,670		$ 42,821,790
Deferred loan origination fees		3,800		1,700
Other Assets
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable		219,000		219,100
Lease Financing, Unearned Income
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unearned income		110,582		116,366
Non-Covered Loans		1,898,980		1,734,824
Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans	[2]	3,509,530	[1]	3,417,343	[3]
Commercial and Industrial | Other Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		1,610,550		1,682,519
Commercial and Industrial | Specialty Finance Loans | Other Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		3,200,000		3,000,000
Commercial and Industrial | Other Commercial and Industrial Loans | Other Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		$ 350,800		$ 393,300
[1]	Includes lease financing receivables, all of which were classified as Pass.
[2]	Includes specialty finance loans and leases of $ 3.2 billion and $ 3.0 billion, respectively, at March 31, 2021 and December 31, 2020 , and other C&I loans of $ 350.8 million and $ 393.3 million, respectively, at March 31, 2021 and December 31, 2020 .
[3]	Includes lease financing receivables, all of which were classified as Pass.

Loans and Leases - Additional I

Loans and Leases - Additional Information (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020
Financing Receivable, Recorded Investment [Line Items]
Outstanding loans to Executive officers, directors, principal shareholders, related interest and parties	$ 7,000,000	$ 37,500,000
Commercial and Industrial
Financing Receivable, Recorded Investment [Line Items]
Delinquent loans selectively extended to certain borrowers, rate reductions, forbearance of arrears, and extension of maturity dates		$ 1,572,000
Loan classified as non accrual TDRs	2,100		$ 600,000
C&I and One-to-Four Family
Financing Receivable, Recorded Investment [Line Items]
Loan classified as non accrual TDRs			$ 140,000
Financing Receivable Troubled Debt Restructurings Rate Reductions
Financing Receivable, Recorded Investment [Line Items]
Delinquent loans selectively extended to certain borrowers, rate reductions, forbearance of arrears, and extension of maturity dates	32,100,000
Financing Receivable Troubled Debt Restructurings Forbearance of Arrears
Financing Receivable, Recorded Investment [Line Items]
Delinquent loans selectively extended to certain borrowers, rate reductions, forbearance of arrears, and extension of maturity dates	$ 146,000

Loans and Leases - Quality of L

Loans and Leases - Quality of Loans Held for Investment (Details) - USD ($)		Mar. 31, 2021		Dec. 31, 2020		Mar. 31, 2020
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans Receivable		$ 43,061,670,000		$ 42,821,790,000
Multi-Family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans Receivable		32,195,256,000		32,236,385,000
Commercial Real Estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans Receivable		7,027,236,000		6,835,763,000
One-to-Four Family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans Receivable		208,108,000		235,989,000
Acquisition, Development, and Construction
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans Receivable		115,947,000		89,790,000
Commercial and Industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non- Accrual Loans		2,100				$ 600,000
Total Loans Receivable	[2]	3,509,530,000	[1]	3,417,343,000	[3]
Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans Receivable		5,593,000		6,520,000
Non-Covered Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans		53,523,000		53,443,000
Non- Accrual Loans		33,178,000		37,785,000
Current Loans		43,008,147,000		42,768,347,000
Total Loans Receivable		43,061,670,000		42,821,790,000
Non-Covered Loans | Financing Receivable, 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans		20,345,000		15,658,000
Non-Covered Loans | Multi-Family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans		10,849,000		8,159,000
Non- Accrual Loans		9,888,000		4,068,000
Current Loans		32,184,407,000		32,228,226,000
Total Loans Receivable		32,195,256,000		32,236,385,000
Non-Covered Loans | Multi-Family | Financing Receivable, 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans		961,000		4,091,000
Non-Covered Loans | Commercial Real Estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans		30,944,000		22,131,000
Non- Accrual Loans		11,573,000		12,142,000
Current Loans		6,996,292,000		6,813,632,000
Total Loans Receivable		7,027,236,000		6,835,763,000
Non-Covered Loans | Commercial Real Estate | Financing Receivable, 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans		19,371,000		9,989,000
Non-Covered Loans | One-to-Four Family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans		1,466,000		3,271,000
Non- Accrual Loans		1,466,000		1,696,000
Current Loans		206,642,000		232,718,000
Total Loans Receivable		208,108,000		235,989,000
Non-Covered Loans | One-to-Four Family | Financing Receivable, 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans				1,575,000
Non-Covered Loans | Acquisition, Development, and Construction
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current Loans		115,947,000		89,790,000
Total Loans Receivable		115,947,000		89,790,000
Non-Covered Loans | Commercial and Industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans		10,247,000	[4],[5]	19,866,000	[6],[7]
Non- Accrual Loans		10,247,000	[4],[5]	19,866,000	[6],[7]
Current Loans		3,499,283,000	[4],[5]	3,397,477,000	[6],[7]
Total Loans Receivable		3,509,530,000	[4],[5]	3,417,343,000	[6],[7]
Non-Covered Loans | Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans		17,000		16,000
Non- Accrual Loans		4,000		13,000
Current Loans		5,576,000		6,504,000
Total Loans Receivable		5,593,000		6,520,000
Non-Covered Loans | Other | Financing Receivable, 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans		$ 13,000		$ 3,000
[1]	Includes lease financing receivables, all of which were classified as Pass.
[2]	Includes specialty finance loans and leases of $ 3.2 billion and $ 3.0 billion, respectively, at March 31, 2021 and December 31, 2020 , and other C&I loans of $ 350.8 million and $ 393.3 million, respectively, at March 31, 2021 and December 31, 2020 .
[3]	Includes lease financing receivables, all of which were classified as Pass.
[4]	Includes $ 10.1 million of taxi medallion-related loans that were 90 days or more past due. There were no taxi medallion-related loans that were 30 to 89 days past due.
[5]	Includes lease financing receivables, all of which were current.
[6]	Includes $ 18.6 million of taxi medallion-related loans that were 90 days or more past due. There were no taxi medallion-related loans that were 30 to 89 days past due.
[7]	Includes lease financing receivables, all of which were current.

Loans and Leases - Quality of_2

Loans and Leases - Quality of Loans Held for Investment (Parenthetical) (Details) - Taxi Medallion Loans - Commercial and Industrial - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Loans 90 Days Or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	$ 10.1	$ 18.6
Financing Receivable, 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	$ 0	$ 0

Loans and Leases - Portfolio of

Loans and Leases - Portfolio of Loans Held for Investment by Credit Quality Indicator (Details) - USD ($) $ in Thousands		Mar. 31, 2021		Dec. 31, 2020
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		$ 43,061,670		$ 42,821,790
Multi-Family
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		32,195,256		32,236,385
Multi-Family | Pass
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		30,647,027		31,220,071
Multi-Family | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		875,091		566,756
Multi-Family | Substandard
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		673,138		449,558
Commercial Real Estate
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		7,027,236		6,835,763
Commercial Real Estate | Pass
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		5,867,168		5,884,244
Commercial Real Estate | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		785,007		637,101
Commercial Real Estate | Substandard
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		375,061		314,418
One-to-Four Family
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		208,108		235,989
One-to-Four Family | Pass
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		194,220		221,861
One-to-Four Family | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		5,354		12,436
One-to-Four Family | Substandard
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		8,534		1,692
Acquisition, Development, and Construction
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		115,947		89,790
Acquisition, Development, and Construction | Pass
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		101,958		68,233
Acquisition, Development, and Construction | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		13,989		21,557
Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans	[1]	39,546,547		39,397,927
Mortgage Receivable | Pass
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		36,810,373		37,394,409
Mortgage Receivable | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		1,679,441		1,237,850
Mortgage Receivable | Substandard
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		1,056,733		765,668
Commercial and Industrial
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans	[3]	3,509,530	[2]	3,417,343	[4]
Commercial and Industrial | Pass
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		3,450,432	[2]	3,388,293	[4]
Commercial and Industrial | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		2,071	[2]	2,842	[4]
Commercial and Industrial | Substandard
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		57,027	[2]	26,208	[4]
Other
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		5,593		6,520
Other | Pass
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		5,589		6,507
Other | Substandard
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		4		13
Total Other Loans
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		3,515,123		3,423,863
Total Other Loans | Pass
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		3,456,021		3,394,800
Total Other Loans | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		2,071		2,842
Total Other Loans | Substandard
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		$ 57,031		$ 26,221
[1]	Excludes accrued interest receivable of $ 219.0 million and $ 219.1 million at March 31, 2021 and December 31, 2020 , respectively, which is included in other assets in the Consolidated Statements of Condition.
[2]	Includes lease financing receivables, all of which were classified as Pass.
[3]	Includes specialty finance loans and leases of $ 3.2 billion and $ 3.0 billion, respectively, at March 31, 2021 and December 31, 2020 , and other C&I loans of $ 350.8 million and $ 393.3 million, respectively, at March 31, 2021 and December 31, 2020 .
[4]	Includes lease financing receivables, all of which were classified as Pass.

Loans and Leases - Schedule of

Loans and Leases - Schedule of Credit Quality Indicator, Loan Class and Year of Origination the Amortized Cost Basis of Loans And Leases (Details) $ in Thousands	Mar. 31, 2021USD ($)
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	$ 43,125,139
Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	39,574,972
Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	3,550,167
2021
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	2,342,148
2021 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	2,092,263
2021 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	249,885
2020
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	10,607,260
2020 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	9,600,268
2020 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	1,006,992
2019
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	7,524,384
2019 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	6,840,984
2019 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	683,400
2018
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	6,218,188
2018 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	6,067,158
2018 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	151,030
2017
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	4,446,355
2017 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	4,242,168
2017 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	204,187
Prior to 2017
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	10,961,387
Prior to 2017 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	10,711,949
Prior to 2017 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	249,438
Revolving Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	1,025,417
Revolving Loans | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	20,182
Revolving Loans | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	1,005,235
Pass | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	36,838,468
Pass | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	3,491,550
Pass | 2021 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	2,092,263
Pass | 2021 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	249,885
Pass | 2020 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	9,587,201
Pass | 2020 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	1,004,860
Pass | 2019 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	6,432,567
Pass | 2019 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	679,606
Pass | 2018 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	5,472,277
Pass | 2018 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	149,190
Pass | 2017
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	3,995,854
Pass | 2017 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	195,499
Pass | Prior to 2017 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	9,238,124
Pass | Prior to 2017 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	235,594
Pass | Revolving Loans | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	20,182
Pass | Revolving Loans | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	976,916
Special Mention | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	1,679,911
Special Mention | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	2,071
Special Mention | 2020 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	13,067
Special Mention | 2020 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	0
Special Mention | 2019 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	215,301
Special Mention | 2019 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	71
Special Mention | 2018 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	345,152
Special Mention | 2017 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	136,466
Special Mention | Prior to 2017 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	969,925
Special Mention | Revolving Loans | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	0
Special Mention | Revolving Loans | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	2,000
Substandard | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	1,056,593
Substandard | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	56,546
Substandard | 2021 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	0
Substandard | 2020 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	2,132
Substandard | 2019 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	193,116
Substandard | 2019 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	3,723
Substandard | 2018 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	249,729
Substandard | 2018 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	1,840
Substandard | 2017 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	109,848
Substandard | 2017 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	8,688
Substandard | Prior to 2017 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	503,900
Substandard | Prior to 2017 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	13,844
Substandard | Revolving Loans | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	$ 26,319

Loans and Leases - Summary of C

Loans and Leases - Summary of Collateral-Dependent Loans Held for Investment by Collateral Type (Details) $ in Thousands	Mar. 31, 2021USD ($)
Real Estate
Disclosure of Summary of Collateral Dependent Loans Held for Investment by Collateral Type [Line Items]
Loans and leases receivable, collateral for secured borrowings	$ 32,555
Assets received as collateral	32,555
Real Estate | Multi-Family
Disclosure of Summary of Collateral Dependent Loans Held for Investment by Collateral Type [Line Items]
Loans and leases receivable, collateral for secured borrowings	6,840
Real Estate | Commercial Real Estate
Disclosure of Summary of Collateral Dependent Loans Held for Investment by Collateral Type [Line Items]
Loans and leases receivable, collateral for secured borrowings	25,386
Real Estate | One-to-Four Family
Disclosure of Summary of Collateral Dependent Loans Held for Investment by Collateral Type [Line Items]
Loans and leases receivable, collateral for secured borrowings	329
Other
Disclosure of Summary of Collateral Dependent Loans Held for Investment by Collateral Type [Line Items]
Loans and leases receivable, collateral for secured borrowings	16,769
Other | Commercial and Industrial
Disclosure of Summary of Collateral Dependent Loans Held for Investment by Collateral Type [Line Items]
Loans and leases receivable, collateral for secured borrowings	$ 16,769

Loans and Leases - Information

Loans and Leases - Information Regarding Troubled Debt Restructurings (Details) - Non-Covered Loans - USD ($) $ in Thousands		Mar. 31, 2021	Dec. 31, 2020
Financing Receivable Modifications [Line Items]
Troubled debt restructurings		$ 32,198	$ 34,285
Multi-Family
Financing Receivable Modifications [Line Items]
Troubled debt restructurings		6,840
Commercial Real Estate
Financing Receivable Modifications [Line Items]
Troubled debt restructurings		14,894	14,967
One-to-Four Family
Financing Receivable Modifications [Line Items]
Troubled debt restructurings		330	557
Commercial and Industrial
Financing Receivable Modifications [Line Items]
Troubled debt restructurings	[1]	10,134	18,761
Accruing
Financing Receivable Modifications [Line Items]
Troubled debt restructurings		14,894	14,967
Accruing | Commercial Real Estate
Financing Receivable Modifications [Line Items]
Troubled debt restructurings		14,894	14,967
Non-Accrual
Financing Receivable Modifications [Line Items]
Troubled debt restructurings		17,304	19,318
Non-Accrual | Multi-Family
Financing Receivable Modifications [Line Items]
Troubled debt restructurings		6,840
Non-Accrual | One-to-Four Family
Financing Receivable Modifications [Line Items]
Troubled debt restructurings		330	557
Non-Accrual | Commercial and Industrial
Financing Receivable Modifications [Line Items]
Troubled debt restructurings	[1]	$ 10,134	$ 18,761
[1]	Includes $ 10 .0 million and $ 17.5 million of taxi medallion-related loans at March 31, 2021 and December 31, 2020 , respectively

Loans and Leases - Informatio_2

Loans and Leases - Information Regarding Troubled Debt Restructurings (Parenthetical) (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Taxi Medallion Loans
Financing Receivable Modifications [Line Items]
Troubled debt restructurings	$ 10	$ 17.5

Loans and Leases - Summary of F

Loans and Leases - Summary of Financial Effects of Troubled Debt Restructurings (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021USD ($)Investment	Dec. 31, 2020USD ($)Investment
Commercial and Industrial
Financing Receivable Modifications [Line Items]
Number of loans classified as a non-accrual TDRs | Investment		8
Pre-Modification Recorded Investment		$ 1,920
Post-Modification Recorded Investment		$ 1,572
Weighted Average Interest Rate, Pre-Modification		3.29%
Weighted Average Interest Rate, Post-Modification		3.24%
Trouble debt restructuring, charge-off amount		$ 348
Multi-Family
Financing Receivable Modifications [Line Items]
Number of loans classified as a non-accrual TDRs | Investment	1
Pre-Modification Recorded Investment	$ 7,515
Post-Modification Recorded Investment	$ 7,515
Weighted Average Interest Rate, Pre-Modification	3.13%
Weighted Average Interest Rate, Post-Modification	3.25%

Allowance for Credit Losses o_3

Allowance for Credit Losses on Loans and Leases - Summary of Activity in Allowance for Loan and Lease Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Valuation Allowance [Line Items]
Balance, beginning of period	$ 194,043	$ 147,638
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
Charge-offs	$ (4,324)	(10,385)
Recoveries	4,841	189
Balance, end of period	197,758	162,244
Cumulative Effect, Period of Adoption, Adjustment
Valuation Allowance [Line Items]
Balance, beginning of period		$ 1,911
Accounting Standards Update [Extensible List]		us-gaap:AccountingStandardsUpdate201613Member
Adjusted Balance
Valuation Allowance [Line Items]
Balance, beginning of period	194,043	$ 149,549
Mortgage Receivable
Valuation Allowance [Line Items]
Balance, beginning of period	176,538	$ 122,695
Accounting Standards Update [Extensible List]		us-gaap:AccountingStandardsUpdate201613Member
Charge-offs	(658)
Recoveries	20	$ 11
Balance, end of period	176,427	141,314
Mortgage Receivable | Cumulative Effect, Period of Adoption, Adjustment
Valuation Allowance [Line Items]
Balance, beginning of period		(178)
Mortgage Receivable | Adjusted Balance
Valuation Allowance [Line Items]
Balance, beginning of period	176,538	122,517
Other Loans
Valuation Allowance [Line Items]
Balance, beginning of period	17,505	$ 24,943
Accounting Standards Update [Extensible List]		us-gaap:AccountingStandardsUpdate201613Member
Charge-offs	(3,666)	$ (10,385)
Recoveries	4,821	178
Balance, end of period	21,331	20,930
Other Loans | Cumulative Effect, Period of Adoption, Adjustment
Valuation Allowance [Line Items]
Balance, beginning of period		2,089
Other Loans | Adjusted Balance
Valuation Allowance [Line Items]
Balance, beginning of period	17,505	27,032
Non-Covered Loans
Valuation Allowance [Line Items]
Provision for credit losses	3,198	22,891
Non-Covered Loans | Mortgage Receivable
Valuation Allowance [Line Items]
Provision for credit losses	527	18,786
Non-Covered Loans | Other Loans
Valuation Allowance [Line Items]
Provision for credit losses	$ 2,671	$ 4,105

Allowance for Credit Losses o_4

Allowance for Credit Losses on Loans and Leases - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Valuation Allowance [Line Items]
Allowance for credit losses on loans and leases	$ 197,758	$ 162,244	$ 194,043	$ 147,638
Increase in allowance for credit losses on loans and leases	4,841	189
Provision for loan losses	3,569	$ 20,601
Unfunded Loan Commitment
Valuation Allowance [Line Items]
Allowance for credit losses	12,300
CARES Act
Valuation Allowance [Line Items]
Allowance for credit losses on loans and leases	197,800
Increase in allowance for credit losses on loans and leases	3,700
Provision for loan losses	$ 3,600

Allowance for Credit Losses o_5

Allowance for Credit Losses on Loans and Leases - Summary of Additional Information about Nonaccrual Loans (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Financing Receivable, Impaired [Line Items]
Impaired loans with no related allowance, Recorded Investment	$ 27,866	$ 22,634
Impaired loans with no related allowance, Interest Income Recognized	102	841
Impaired loans with an allowance recorded, Recorded Investment	5,312	15,151
Impaired loans with an allowance recorded, Related Allowance	904	1,110
Impaired loans with an allowance recorded, Interest Income Recognized	6	99
Total impaired loans, Recorded Investment	33,178	37,785
Total impaired loans, Interest Income Recognized	108	940
Multi-Family
Financing Receivable, Impaired [Line Items]
Impaired loans with no related allowance, Recorded Investment	6,840
Impaired loans with no related allowance, Interest Income Recognized	81
Impaired loans with an allowance recorded, Recorded Investment	3,048	4,068
Impaired loans with an allowance recorded, Related Allowance	435	589
Impaired loans with an allowance recorded, Interest Income Recognized	0	28
Total impaired loans, Recorded Investment	9,888	4,068
Total impaired loans, Interest Income Recognized	81	28
Commercial Real Estate
Financing Receivable, Impaired [Line Items]
Impaired loans with no related allowance, Recorded Investment	10,491	2,256
Impaired loans with an allowance recorded, Recorded Investment	1,082	9,886
Impaired loans with an allowance recorded, Related Allowance	84	133
Impaired loans with an allowance recorded, Interest Income Recognized	2	52
Total impaired loans, Recorded Investment	11,573	12,142
Total impaired loans, Interest Income Recognized	2	52
One-to-Four Family
Financing Receivable, Impaired [Line Items]
Impaired loans with no related allowance, Recorded Investment	330	557
Impaired loans with no related allowance, Interest Income Recognized	3	21
Impaired loans with an allowance recorded, Recorded Investment	1,137	1,139
Impaired loans with an allowance recorded, Related Allowance	365	370
Impaired loans with an allowance recorded, Interest Income Recognized	3	14
Total impaired loans, Recorded Investment	1,467	1,696
Total impaired loans, Interest Income Recognized	6	35
Other Loans
Financing Receivable, Impaired [Line Items]
Impaired loans with no related allowance, Recorded Investment	10,205	19,821
Impaired loans with no related allowance, Interest Income Recognized	18	820
Impaired loans with an allowance recorded, Recorded Investment	45	58
Impaired loans with an allowance recorded, Related Allowance	20	18
Impaired loans with an allowance recorded, Interest Income Recognized	1	5
Total impaired loans, Recorded Investment	10,250	19,879
Total impaired loans, Interest Income Recognized	$ 19	$ 825

Borrowed Funds - Summary of Bor

Borrowed Funds - Summary of Borrowed Funds (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
FHLB advances	$ 14,302,661	$ 14,627,661
Repurchase agreements	800,000	800,000
Total wholesale borrowings	15,102,661	15,427,661
Junior subordinated debentures	360,362	360,259
Subordinated notes	295,764	295,624
Total borrowed funds	$ 15,758,787	$ 16,083,544

Borrowed Funds - Summary of Rep

Borrowed Funds - Summary of Repurchase Agreements Accounted for Secured Borrowings (Details) $ in Thousands	Mar. 31, 2021USD ($)
Greater than 90 Days | GSE obligations
Debt Outstanding [Line Items]
Remaining Contractual Maturity of the Agreements	$ 800,000

Borrowed Funds - Additional Inf

Borrowed Funds - Additional Information (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
Subordinated notes outstanding	$ 295,764	$ 295,624
Junior subordinated debentures	$ 360,362	$ 360,259

Borrowed Funds - Summary of Fix

Borrowed Funds - Summary of Fixed-To-Floating Rate Subordinated Notes Outstanding (Details) - Subordinated Debt $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Debt Outstanding [Line Items]
Stated Maturity	Nov. 6, 2028
Interest rate of subordinated note	5.90%
Principal amount of Subordinated Notes	$ 300,000

Borrowed Funds - Summary of F_2

Borrowed Funds - Summary of Fixed-To-Floating Rate Subordinated Notes Outstanding (Parenthetical) (Details) - Subordinated Debt	3 Months Ended
	Mar. 31, 2021
Interest rate of subordinated note	5.90%
Description of variable rate basis	LIBOR rate plus 278 basis points
Debt instrument spread on variable rate	278.00%

Borrowed Funds - Junior Subordi

Borrowed Funds - Junior Subordinated Debentures Outstanding (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2021	Dec. 31, 2020
Subordinated Borrowing [Line Items]
Junior subordinated debentures		$ 360,362	$ 360,259
Capital Securities Amount Outstanding		$ 347,585
New York Community Capital Trust V (BONUSESSM Units)
Subordinated Borrowing [Line Items]
Interest Rate of Capital Securities and Debentures		6.00%
Junior subordinated debentures		$ 146,436
Capital Securities Amount Outstanding		$ 140,085
Date of Original Issue		Nov. 4, 2002
Stated Maturity		Nov. 1, 2051
First Optional Redemption Date	[1]	Nov. 4, 2007
New York Community Capital Trust X
Subordinated Borrowing [Line Items]
Interest Rate of Capital Securities and Debentures		1.78%
Junior subordinated debentures		$ 123,712
Capital Securities Amount Outstanding		$ 120,000
Date of Original Issue		Dec. 14, 2006
Stated Maturity		Dec. 15, 2036
First Optional Redemption Date	[2]	Dec. 15, 2011
PennFed Capital Trust III
Subordinated Borrowing [Line Items]
Interest Rate of Capital Securities and Debentures		3.43%
Junior subordinated debentures		$ 30,928
Capital Securities Amount Outstanding		$ 30,000
Date of Original Issue		Jun. 2, 2003
Stated Maturity		Jun. 15, 2033
First Optional Redemption Date	[2]	Jun. 15, 2008
New York Community Capital Trust XI
Subordinated Borrowing [Line Items]
Interest Rate of Capital Securities and Debentures		1.85%
Junior subordinated debentures		$ 59,286
Capital Securities Amount Outstanding		$ 57,500
Date of Original Issue		Apr. 16, 2007
Stated Maturity		Jun. 30, 2037
First Optional Redemption Date	[2]	Jun. 30, 2012
[1]	Callable subject to certain conditions as described in the prospectus filed with the SEC on November 4, 2002.
[2]	Callable from this date forward.

Pension and Other Post-Retire_3

Pension and Other Post-Retirement Benefits - Pension and Post-Retirement Plans (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Pension Benefits
Components of net periodic (credit) expense:
Interest cost	[1]	$ 912	$ 1,173
Expected return on plan assets	[1]	(4,016)	(3,876)
Amortization of net actuarial loss	[1]	1,732	1,831
Net periodic (credit) expense	[1]	(1,372)	(872)
Post- Retirement Benefits
Components of net periodic (credit) expense:
Interest cost	[1]	56	82
Amortization of prior-service liability	[1]	(62)	(62)
Amortization of net actuarial loss	[1]	11	6
Net periodic (credit) expense	[1]	$ 5	$ 26
[1]	Amounts are included in G&A expense on the Consolidated Statements of Income and Comprehensive Income.

Pension and Other Post-Retire_4

Pension and Other Post-Retirement Benefits - Additional Information (Details)	Mar. 31, 2021USD ($)
Post- Retirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Expected contribution to defined benefit plan for the fiscal year	$ 915,000
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Expected contribution to defined benefit plan for the fiscal year	$ 0

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant	8,481,554
Shares granted	3,029,949
Shares granted, weighted average grant date fair value	$ 11.15
Four Zero One K Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employer Discretionary Contribution Amount	$ 1,700	$ 1,600
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted	3,029,949	2,387,645
Shares granted, weighted average grant date fair value	$ 11.15	$ 11.64
Compensation and benefits expense	$ 8,000	$ 7,800
Unrecognized compensation cost relating to unvested restricted stock	$ 77,600
Unrecognized compensation cost relating to unvested restricted stock, recognition period (in years)	3 years 7 months 6 days
Restricted Stock | Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted, vesting period	1 year	1 year
Restricted Stock | Share-based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted, vesting period	5 years	5 years
Performance-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted	307,479
Compensation and benefits expense	$ 586,000	$ 407,000
Unrecognized compensation cost relating to unvested restricted stock	$ 6,300
Unrecognized compensation cost relating to unvested restricted stock, recognition period (in years)	2 years 1 month 6 days

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Activity for Restricted Stock Awards (Details) - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Number of Shares
Granted	3,029,949
Weighted Average Grant Date Fair Value
Granted	$ 11.15
Restricted Stock
Number of Shares
Unvested at beginning of year	6,228,048
Granted	3,029,949	2,387,645
Vested	(1,918,654)
Canceled	(59,260)
Unvested at end of year	7,280,083
Weighted Average Grant Date Fair Value
Unvested at beginning of year	$ 12.43
Granted	11.15	$ 11.64
Vested	13.21
Canceled	11.65
Unvested at end of year	$ 11.70

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Activity for Performance-Based Restricted Stock Units (Details)	3 Months Ended
	Mar. 31, 2021shares
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested [Roll Forward]
Granted	3,029,949
Performance-Based Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested [Roll Forward]
Unvested at beginning of year	477,872
Granted	307,479
Unvested at end of year	785,351
Performance Period	January 1, 2021 - December 31, 2023
Expected Vesting Date	Mar. 31, 2024

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2021		Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 6,193,706	[1]	$ 5,844,909	[2]
Total equity securities	15,801		31,576
Total securities	6,193,706		5,844,909
Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	520,773	[3]	527,099	[4]
Mutual Fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	15,801		16,083
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	6,177,905		5,813,333
Total equity securities	15,801		31,576
Total securities	6,193,706		5,844,909
Fair Value, Measurements, Recurring | Foreign Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	25,993
Fair Value, Measurements, Recurring | Preferred Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total equity securities			15,493
Fair Value, Measurements, Recurring | Mutual Fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total equity securities	15,801		16,083
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	64,998		64,985
Total equity securities			15,493
Total securities	64,998		80,478
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Preferred Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total equity securities			15,493
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	6,112,907		5,748,348
Total equity securities	15,801		16,083
Total securities	6,128,708		5,764,431
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Mutual Fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total equity securities	15,801		16,083
Fair Value, Measurements, Recurring | Mortgage-Related Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	3,195,588		3,038,325
Fair Value, Measurements, Recurring | Mortgage-Related Securities | GSE Certificates
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	1,209,318		1,209,610
Fair Value, Measurements, Recurring | Mortgage-Related Securities | GSE CMOs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	1,986,270		1,828,715
Fair Value, Measurements, Recurring | Mortgage-Related Securities | Municipal Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	26,011
Fair Value, Measurements, Recurring | Mortgage-Related Securities | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale			3,038,325
Fair Value, Measurements, Recurring | Mortgage-Related Securities | Quoted Prices in Active Markets for Identical Assets (Level 1) | GSE Certificates
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale			1,209,610
Fair Value, Measurements, Recurring | Mortgage-Related Securities | Quoted Prices in Active Markets for Identical Assets (Level 1) | GSE CMOs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale			1,828,715
Fair Value, Measurements, Recurring | Mortgage-Related Securities | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	3,195,588
Fair Value, Measurements, Recurring | Mortgage-Related Securities | Significant Other Observable Inputs (Level 2) | GSE Certificates
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	1,209,318
Fair Value, Measurements, Recurring | Mortgage-Related Securities | Significant Other Observable Inputs (Level 2) | GSE CMOs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	1,986,270
Fair Value, Measurements, Recurring | Mortgage-Related Securities | Significant Other Observable Inputs (Level 2) | Capital Trust Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	94,131
Fair Value, Measurements, Recurring | Other Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	2,982,317		2,775,008
Fair Value, Measurements, Recurring | Other Securities | U.S. Treasury Obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	64,998		64,985
Fair Value, Measurements, Recurring | Other Securities | GSE Debentures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	1,368,341		1,158,302
Fair Value, Measurements, Recurring | Other Securities | Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	520,773		527,099
Fair Value, Measurements, Recurring | Other Securities | Municipal Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale			26,311
Fair Value, Measurements, Recurring | Other Securities | Corporate Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	882,070		882,226
Fair Value, Measurements, Recurring | Other Securities | Foreign Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale			25,538
Fair Value, Measurements, Recurring | Other Securities | Capital Trust Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	94,131		90,547
Fair Value, Measurements, Recurring | Other Securities | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	64,998		64,985
Fair Value, Measurements, Recurring | Other Securities | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. Treasury Obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	64,998		64,985
Fair Value, Measurements, Recurring | Other Securities | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	2,917,319		2,710,023
Fair Value, Measurements, Recurring | Other Securities | Significant Other Observable Inputs (Level 2) | GSE Certificates
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale			1,158,302
Fair Value, Measurements, Recurring | Other Securities | Significant Other Observable Inputs (Level 2) | GSE Debentures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	1,368,341
Fair Value, Measurements, Recurring | Other Securities | Significant Other Observable Inputs (Level 2) | Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	520,773		527,099
Fair Value, Measurements, Recurring | Other Securities | Significant Other Observable Inputs (Level 2) | Municipal Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	26,011		26,311
Fair Value, Measurements, Recurring | Other Securities | Significant Other Observable Inputs (Level 2) | Corporate Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	882,070		882,226
Fair Value, Measurements, Recurring | Other Securities | Significant Other Observable Inputs (Level 2) | Foreign Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 25,993		25,538
Fair Value, Measurements, Recurring | Other Securities | Significant Other Observable Inputs (Level 2) | Capital Trust Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale			$ 90,547
[1]	Excludes accrued interest receivable of $ 14.8 million included in other assets in the Consolidated Statements of Condition.
[2]	Excludes accrued interest receivable of $ 14.9 million included in other assets in the Consolidated Statements of Condition.
[3]	The underlying assets of the asset-backed securities are substantially guaranteed by the U.S. Government.
[4]	The underlying assets of the asset-backed securities are substantially guaranteed by the U.S. Government.

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Carrying Values, Estimated Fair Values and Fair Value Measurement Levels of Financial Instruments (Details) - Fair Value, Measurements, Nonrecurring - USD ($) $ in Thousands	Mar. 31, 2021		Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Certain nonaccrual loans	$ 23,172	[1]	$ 41,066	[2]
Other assets	10,583	[3]	5,655	[4]
Total	33,755		46,721
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Certain nonaccrual loans	23,172	[1]	41,066	[2]
Other assets	10,583	[3]	5,655	[4]
Total	$ 33,755		$ 46,721
[1]	Represents the fair value of impaired loans, based on the value of the collateral.
[2]	Represents the fair value of impaired loans, based on the value of the collateral.
[3]	Represents the fair value of repossessed assets, based on the appraised value of the collateral subsequent to its initial classification as repossessed assets and equity investments without readily determinable fair values. These equity investments are classified as Level 3 due to the infrequency of the observable prices and/or the restrictions on the shares.
[4]	Represents the fair value of repossessed assets, based on the appraised value of the collateral subsequent to its initial classification as repossessed assets and equity investments without readily determinable fair values. These equity investments are classified as Level 3 due to the infrequency of the observable prices and/or the restrictions on the shares.

Fair Value Measurements - Ass_2

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Non-Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2021		Dec. 31, 2020		Dec. 31, 2019
Financial Assets:
Cash and cash equivalents, Carrying Value	$ 2,722,915		$ 1,947,931		$ 741,870
Cash and cash equivalents, Estimated Fair Value	2,722,915		1,947,931
FHLB stock, Carrying Value	698,984	[1]	714,005	[2]
FHLB stock, Estimated Fair Value	698,984	[1]	714,005	[2]
Loans, net, Carrying Value	43,068,816		42,806,691
Loans, net, Estimated Fair Value	42,433,118		42,376,214
Financial Liabilities:
Deposits, Carrying Value	34,197,136		32,436,813
Deposits, Estimated Fair Value	34,215,071		32,466,013
Borrowed funds, Carrying Value	15,758,787		16,083,544
Borrowed funds, Estimated Fair Value	16,475,503		16,794,338
Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial Assets:
Cash and cash equivalents, Carrying Value	2,722,915		1,947,931
Financial Liabilities:
Deposits, Carrying Value	24,582,838	[3]	22,106,133	[4]
Significant Other Observable Inputs (Level 2)
Financial Assets:
FHLB stock, Carrying Value	698,984	[1]	714,005	[2]
Financial Liabilities:
Deposits, Carrying Value	9,632,233	[5]	10,359,880	[6]
Borrowed funds, Carrying Value	16,475,503		16,794,338
Significant Unobservable Inputs (Level 3)
Financial Assets:
Loans, net, Carrying Value	$ 42,433,118		$ 42,376,214
[1]	Carrying value and estimated fair value are at cost.
[2]	Carrying value and estimated fair value are at cost.
[3]	Interest-bearing checking and money market accounts, savings accounts, and non-interest-bearing accounts.
[4]	Interest-bearing checking and money market accounts, savings accounts, and non-interest-bearing accounts.
[5]	Certificates of deposit.
[6]	Certificates of deposit.

Leases - Additional Information

Leases - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Residual value of leased asset	$ 63,000		$ 70,600
Carrying value of investment lease	2,000		$ 1,900
Amortization of ROU assets	$ 4,700	$ 4,100
Operating Lease, extension terms	the vast majority of which include one or more options to extend the leases for up to five years resulting in lease terms up to 40 years.
Minimum
Lessor, operating lease, term of contract	24 months
Operating lease, remaining lease term	1 year
Maximum
Lessor, operating lease, term of contract	120 months
Operating lease, remaining lease term	25 years

Leases - Components of Lease In

Leases - Components of Lease Income (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Leases [Abstract]
Interest income on lease financing	[1]	$ 13,871	$ 11,949
[1]	Included in Interest Income – Loans and leases in the Consolidated Statements of Income and Comprehensive Income.

Leases - Components of Net Inve

Leases - Components of Net Investment in Direct Financing Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Net investment in the lease - lease payments receivable	$ 1,929,213	$ 1,771,097
Net investment in the lease - unguaranteed residual assets	80,349	80,093
Total lease payments	$ 2,009,562	$ 1,851,190

Leases - Summary of Remaining M

Leases - Summary of Remaining Maturity of Undiscounted Lease Receivables (Details) $ in Thousands	Mar. 31, 2021USD ($)
Leases [Abstract]
2021	$ 24,349
2022	111,308
2023	342,220
2024	236,013
2025	427,495
Thereafter	868,177
Total lease payments	2,009,562
Plus: deferred origination costs	30,823
Less: unearned income	(110,582)
Total lease finance receivables, net	$ 1,929,803

Leases - Summary of Components

Leases - Summary of Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Leases [Abstract]
Operating lease cost	$ 6,750	$ 6,759
Sublease income	(28)	(11)
Total lease cost	$ 6,722	$ 6,748

Leases - Summary of Supplementa

Leases - Summary of Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Leases [Abstract]
Operating cash flows from operating leases	$ 6,750	$ 6,759

Leases - Summary of Supplemen_2

Leases - Summary of Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease right-of-use assets	$ 262,196	$ 266,864
Operating lease liabilities	$ 262,169	$ 266,846
Weighted average remaining lease term	16 years	16 years
Weighted average discount rate%	3.08%	3.12%

Leases - Summary of Maturities

Leases - Summary of Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Leases [Abstract]
2021	$ 20,099
2022	25,893
2023	25,435
2024	24,764
2025	24,073
Thereafter	222,215
Total lease payments	342,479
Less: imputed interest	(80,310)
Operating Lease, Liability, Total	$ 262,169	$ 266,846

Derivative and Hedging Activi_3

Derivative and Hedging Activities - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Derivative [Line Items]
Interest income	$ 317,659	$ 244,467
Gain (losses) on interest rate derivatives designated as cash flow hedge	5,900
Interest rate cash flow hedge gain (loss) to be reclassified during next 12 months, net	24,100
Interest Rate Swap | Cash Flow Hedging
Derivative [Line Items]
Derivative, notional amount	2,250,000		$ 2,250,000
Designated as Hedging Instrument
Derivative [Line Items]
Derivative, notional amount	2,000,000		$ 2,000,000
Interest income	12,000	$ 3,900
Designated as Hedging Instrument | Interest Rate Swap
Derivative [Line Items]
Derivative, notional amount	2,000,000
LCH | Designated as Hedging Instrument | Interest Rate Swap
Derivative [Line Items]
Derivative, notional amount	$ 4,300,000

Derivative and Hedging Activi_4

Derivative and Hedging Activities - Schedule of Cumulative Basis Adjustment for Fair Value Hedges (Details) - Loans and Leases - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Derivative [Line Items]
Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of the Hedged Assets	$ 48,000	$ 73,200
Fair Value Hedging
Derivative [Line Items]
Carrying Amount of the Hedged Assets	2,047,999	2,073,214
Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of the Hedged Assets	$ 47,999	$ 73,214

Derivative and Hedging Activi_5

Derivative and Hedging Activities - Schedule of Cumulative Basis Adjustment for Fair Value Hedges (Parenthetical) (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Designated as Hedging Instrument
Derivative [Line Items]
Derivative, notional amount	$ 2,000	$ 2,000
Loans and Leases
Derivative [Line Items]
Amortized cost basis	3,400	3,600
Cumulative basis adjustment associated with hedging relationships	$ 48	$ 73.2

Derivative and Hedging Activi_6

Derivative and Hedging Activities - Information Regarding Derivative Financial Instruments (Details) - Designated as Hedging Instrument - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Derivative [Line Items]
Amount of designated hedged items	$ 2,000,000	$ 2,000,000
Fair Value Hedging
Derivative [Line Items]
Amount of designated hedged items	2,000,000
Fair Value Hedging | Other Assets
Derivative [Line Items]
Derivative Asset	0
Fair Value Hedging | Other Liabilities
Derivative [Line Items]
Derivative Liabilities	0
Interest Rate Swap
Derivative [Line Items]
Amount of designated hedged items	2,000,000
Interest Rate Swap | Fair Value Hedging
Derivative [Line Items]
Amount of designated hedged items	2,000,000
Interest Rate Swap | Fair Value Hedging | Other Assets
Derivative [Line Items]
Derivative Asset	0
Interest Rate Swap | Fair Value Hedging | Other Liabilities
Derivative [Line Items]
Derivative Liabilities	$ 0

Derivative and Hedging Activi_7

Derivative and Hedging Activities - Effect of Derivative Instruments on Consolidated Statements of Income and Comprehensive Income (Details) - Interest Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Interest Rate Swap
Derivative [Line Items]
Interest income	$ 25,215	$ (28,130)
Hedged Item - Loans
Derivative [Line Items]
Interest income	$ (25,215)	$ 28,130

Derivative and Hedging Activi_8

Derivative and Hedging Activities - Information about Interest Rate Swaps Designated as Cash Flow Hedges (Details) - Interest Rate Swap - Cash Flow Hedging - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Derivative [Line Items]
Notional amounts	$ 2,250,000	$ 2,250,000
Cash collateral posted	$ 35,109	$ 45,532
Weighted average pay rates	1.27%
Weighted average receive rates	0.20%	0.23%
Weighted average maturity	1 year 8 months 12 days	1 year 10 months 24 days

Derivative and Hedging Activi_9

Derivative and Hedging Activities - Effect of Cash Flow Derivative Instruments on AOCL (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Amount of gain (loss) recognized in AOCL	$ 4,532	$ (49,285)
Amount of gain (loss) reclassified from AOCL to interest expense	$ 5,891	$ (645)

Subsequent Event (Additional In

Subsequent Event (Additional Information) (Details) - Subsequent Event [Member] $ / shares in Units, $ in Billions	Apr. 26, 2021USD ($)StateBranchOffice$ / shares
Subsequent Event [Line Items]
Ownership percent expected to be owned	68.00%
Flagstar [Member]
Subsequent Event [Line Items]
Percentage of stock transaction value	100.00%
Implied total transaction value | $	$ 2.6
Business acquisition, share price | $ / shares	$ 4.0151
Business combination, description	Following completion of the transaction, New York Community shareholders are expected to own 68% of the combined company, while Flagstar shareholders are expected to own 32% of the combined company.
Business combination estimated total assets after merge | $	$ 87
Number of traditional branches | Branch	400
Number of retail home lending offices | Office	87
Number of state footprint | State	28
Ownership percent expected to be owned	32.00%
Number of states of traditional branches | State	9