Flagstar Financial (FLG) 10-Q 6 Aug 21 2021 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2021	Aug. 02, 2021
Document Information [Line Items]
Amendment Flag	false
Document Type	10-Q
Document Transition Report	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Document Period End Date	Jun. 30, 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		465,033,012
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	102 Duffy Avenue
Entity Address, City or Town	Hicksville
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	11801
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 Millions		Jun. 30, 2021		Dec. 31, 2020
Assets:
Cash and cash equivalents		$ 2,086		$ 1,948
Securities:
Debt securities available-for-sale ($1,354 and $1,278 pledged at June 30, 2021 and December 31, 2020, respectively) (Allowance for credit losses of $0 at June 30, 2021 and December 31, 2020)		6,077		5,813
Equity investments with readily determinable fair values, at fair value		16		32
Total securities		6,093		5,845
Loans held for sale	[1]			117
Loans and leases held for investment, net of deferred loan fees and costs		43,575		42,884
Less: Allowance for credit losses on loans and leases		(202)		(194)
Total loans and leases held for investment, net		43,373		42,690
Total loans and leases held for investment and held for sale, net		43,373		42,807
Federal Home Loan Bank stock, at cost		686	[2]	714	[3]
Premises and equipment, net		278		287
Operating lease right-of-use assets		256		267
Goodwill		2,426		2,426
Bank-owned life insurance		1,171		1,164
Other real estate owned and other repossessed assets		8		8
Other assets		1,092		840
Total assets		57,469		56,306
Deposits:
Interest-bearing checking and money market accounts		12,803		12,610
Savings accounts		7,890		6,416
Certificates of deposit		8,949		10,331
Non-interest-bearing accounts		4,535		3,080
Total deposits		34,177		32,437
Wholesale borrowings:
Federal Home Loan Bank advances		14,003		14,628
Repurchase agreements		800		800
Total wholesale borrowings		14,803		15,428
Junior subordinated debentures		360		360
Subordinated notes		296		296
Total borrowed funds		15,459		16,084
Operating lease liabilities		256		267
Other liabilities		661		676
Total liabilities		50,553		49,464
Stockholders’ equity:
Preferred stock at par $0.01 (5,000,000 shares authorized): Series A (515,000 shares issued and outstanding)		503		503
Common stock at par $0.01 (900,000,000 shares authorized; 490,439,070 and 490,439,070 shares issued; and 465,056,962 and 463,901,808 shares outstanding, respectively)		5		5
Paid-in capital in excess of par		6,111		6,123
Retained earnings		617		494
Treasury stock, at cost (25,382,108 and 26,537,262 shares, respectively)		(245)		(258)
Accumulated other comprehensive loss, net of tax:
Net unrealized gain on securities available for sale, net of tax of $0 and ($25), respectively		1		67
Net unrealized loss on pension and post-retirement obligations, net of tax of $20 and $22, respectively		(54)		(59)
Net unrealized loss on cash flow hedges, net of tax of $8 and $13, respectively		(22)		(33)
Total accumulated other comprehensive loss, net of tax		(75)		(25)
Total stockholders’ equity		6,916		6,842
Total liabilities and stockholders’ equity		$ 57,469		$ 56,306
[1]	Includes deferred loan origination fees of $ 0 million and $ 2 million at June 30, 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 Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Securities Available-for-sale, pledged	$ 1,354	$ 1,278
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	465,056,962	463,901,808
Treasury stock, shares	25,382,108	26,537,262
Net unrealized (loss) gain on securities available for sale, tax	$ 0	$ (25)
Net unrealized loss on pension and post-retirement obligations, tax	20	22
Cash flow hedges tax component	8	13
Debt Securities, allowance for credit losses	$ 0	$ 0

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Interest Income:
Loans and leases	$ 386	$ 382	$ 769	$ 774
Securities and money market investments	45	41	85	90
Total interest income	431	423	854	864
Interest Expense:
Interest-bearing checking and money market accounts	7	10	16	39
Savings accounts	7	8	13	17
Certificates of deposit	14	65	32	145
Borrowed funds	72	74	144	153
Total interest expense	100	157	205	354
Net interest income	331	266	649	510
(Recovery of) provision for credit losses	(4)	18	0	38
Net interest income after (recovery of) provision for credit losses	335	248	649	472
Non-Interest Income:
Fee income	6	4	11	11
Bank-owned life insurance	8	9	15	17
Net gain on securities	0	1	0	1
Other	2	1	4	3
Total non-interest income	16	15	30	32
Operating expenses:
Compensation and benefits	74	75	152	155
Occupancy and equipment	22	21	43	39
General and administrative	33	27	66	55
Total operating expenses	129	123	261	249
Merger-related expenses	10	0	10	0
Total non-interest expense	139	123	271	249
Income before income taxes	212	140	408	255
Income tax expense	60	35	111	50
Net income	152	105	297	205
Preferred stock dividends	8	8	16	16
Net income available to common shareholders	$ 144	$ 97	$ 281	$ 189
Basic earnings per common share	$ 0.30	$ 0.21	$ 0.60	$ 0.40
Diluted earnings per common share	$ 0.30	$ 0.21	$ 0.60	$ 0.40
Net income	$ 152	$ 105	$ 297	$ 205
Other comprehensive gain (loss), net of tax:
Change in net unrealized gain (loss) on securities available for sale, net of tax of ($16); ($20); $25 and ($16) respectively	42	54	(66)	42
Change in pension and post-retirement obligations, net of tax of $0; $0; ($1) and $0, respectively	(1)	0	2	0
Change in net unrealized gain (loss) on cash flow hedges, net of tax of $0; $2; ($1) and $16, respectively	0	(5)	3	(41)
Less: Reclassification adjustment for sales of available-for-sale securities, net of tax of $0; $0; $0 and $0, respectively	0	0	0	(1)
Reclassification adjustment for defined benefit pension plan, net of tax of ($1); $0; ($1) and ($1), respectively	2	1	3	3
Reclassification adjustment for net gain on cash flow hedges included in net income, net of tax of ($2); $0; ($3) and $0, respectively	4	1	8	0
Total other comprehensive gain (loss), net of tax	47	51	(50)	3
Total comprehensive income, net of tax	$ 199	$ 156	$ 247	$ 208

Consolidated Statements of In_2

Consolidated Statements of Income and Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Change in net unrealized gain (loss) on securities available for sale, tax	$ (16)	$ (20)	$ 25	$ (16)
Change in pension and post-retirement obligations, tax	0	0	(1)	0
Cash flow hedge, gain (loss), reclassification, tax	0	2	(1)	16
Reclassification adjustment for sales of available-for-sale securities, tax	0	0	0	0
Reclassification adjustment for defined benefit pension plan, net of tax	(1)	0	(1)	(1)
Cash flow hedges tax component	$ (2)	$ 0	$ (3)	$ 0

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Millions	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	$ (10)	[1]	$ 6,701	$ 5	$ 503	$ 6,115	$ 342	$ (10)	[1]	$ 332	$ (221)	$ (33)
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)					22
Shares issued for restricted stock, net of forfeitures, shares					2,321,105
Compensation expense related to restricted stock awards	16						16
Net income	205							205
Dividends paid on common stock	(158)							(158)
Dividends paid on preferred stock	(16)							(16)
Purchase of common stock	(58)											(58)
Purchase of common stock, shares					(5,734,055)
Other comprehensive income (loss), net of tax	3												3
Balance at Jun. 30, 2020	6,693				$ 5	503	6,109	363				(257)	(30)
Balance, shares at Jun. 30, 2020					463,933,831
Balance at Mar. 31, 2020	6,637				$ 5	503	6,102	344				(236)	(81)
Balance, shares at Mar. 31, 2020					466,360,703
Compensation expense related to restricted stock awards	7						7
Net income	105							105
Dividends paid on common stock	(78)							(78)
Dividends paid on preferred stock	(8)							(8)
Purchase of common stock	(21)											(21)
Purchase of common stock, shares					(2,426,872)
Other comprehensive income (loss), net of tax	51												51
Balance at Jun. 30, 2020	6,693				$ 5	503	6,109	363				(257)	(30)
Balance, shares at Jun. 30, 2020					463,933,831
Balance at Dec. 31, 2020	$ 6,842				$ 5	503	6,123	494				(258)	(25)
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)					28
Shares issued for restricted stock, net of forfeitures, shares					2,515,942
Compensation expense related to restricted stock awards	$ 16						16
Net income	297							297
Dividends paid on common stock	(158)							(158)
Dividends paid on preferred stock	(16)							(16)
Purchase of common stock	(15)											(15)
Purchase of common stock, shares					(1,360,788)
Other comprehensive income (loss), net of tax	(50)												(50)
Balance at Jun. 30, 2021	6,916				$ 5	503	6,111	617				(245)	(75)
Balance, shares at Jun. 30, 2021					465,056,962
Balance at Mar. 31, 2021	6,796				$ 5	503	6,103	552				(245)	(122)
Balance, shares at Mar. 31, 2021					465,074,384
Compensation expense related to restricted stock awards	8						8
Net income	152							152
Dividends paid on common stock	(79)							(79)
Dividends paid on preferred stock	(8)							(8)
Purchase of common stock, shares					(17,422)
Other comprehensive income (loss), net of tax	47												47
Balance at Jun. 30, 2021	$ 6,916				$ 5	$ 503	$ 6,111	$ 617				$ (245)	$ (75)
Balance, shares at Jun. 30, 2021					465,056,962
[1]	Amount represents a $ 10 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 Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Balance		$ 6,796	$ 6,637	$ 6,842	$ 6,711
Accounting Standards Update [Extensible List]				us-gaap:AccountingStandardsUpdate201613Member
Cumulative Effect, Period of Adoption, Adjustment
Balance	[1]				$ (10)
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	$ 0.34	$ 0.34
Balance		$ 5	$ 5	$ 5	$ 5
Preferred Stock (Par Value: $0.01)
Dividends paid on preferred stock, per share		$ 15.94	$ 15.94	$ 31.88	$ 31.88
Balance		$ 503	$ 503	$ 503	$ 503
Retained Earnings
Balance		$ 552	$ 344	$ 494	342
Retained Earnings | Cumulative Effect, Period of Adoption, Adjustment
Balance	[1]				$ (10)
Accounting Standards Update [Extensible List]					us-gaap:AccountingStandardsUpdate201613Member
[1]	Amount represents a $ 10 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 Millions		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020
Cash Flows from Operating Activities:
Net income		$ 297	$ 205
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses		0	38
Depreciation		11	13
Amortization of discounts and premiums, net		(3)	10
Net loss (gain) on securities			(1)
Net gain on sales of loans		(1)
Stock-based compensation		16	16
Deferred tax expense		26	77
Changes in operating assets and liabilities:
Increase in other assets	[1]	(255)	(99)
Decrease in other liabilities	[2]	(25)	(9)
Purchases of securities held for trading		(60)
Proceeds from sales of securities held for trading		60
Held for sale originations		(52)	(103)
Net cash provided by operating activities		14	147
Cash Flows from Investing Activities:
Proceeds from repayment of securities available for sale		931	960
Proceeds from sales of securities available for sale			442
Purchase of securities available for sale		(1,252)	(735)
Redemption of Federal Home Loan Bank stock		29	127
Purchases of Federal Home Loan Bank stock		(1)	(148)
Proceeds from bank-owned life insurance, net		7	2
Proceeds from sales of loans		33	3
Purchases of loans		(66)	(48)
Other changes in loans, net		(481)	(379)
(Purchases) dispositions of premises and equipment, net		(2)	3
Net cash (used in) provided by investing activities		(802)	227
Cash Flows from Financing Activities:
Net increase in deposits		1,740	72
Net increase in short-term borrowed funds			1,450
Proceeds from long-term borrowed funds		624	3,125
Repayments of long-term borrowed funds		(1,249)	(4,125)
Cash dividends paid on common stock		(158)	(158)
Cash dividends paid on preferred stock		(16)	(16)
Treasury stock repurchased			(50)
Payments relating to treasury shares received for restricted stock award tax payments		(15)	(9)
Net cash provided by financing activities		926	289
Net increase (decrease) in cash, cash equivalents, and restricted cash		138	663
Cash, cash equivalents, and restricted cash at beginning of period		1,948	742
Cash, cash equivalents, and restricted cash at end of period		2,086	1,405
Supplemental information:
Cash paid for interest		206	370
Cash paid for income taxes		336	10
Non-cash investing and financing activities:
Securitization of residential mortgage loans to mortgage-backed securities available for sale		66	42
Transfer of loans from held for investment to held for sale		48
Transfer of loans from held for sale to held for investment		94
Shares issued for restricted stock awards		$ 28	$ 22
[1]	Includes $ 10 million and $ 9 million of amortization of operating lease right-of-use assets for the six months ende
[2]	Includes $ 10 million and $ 9 million of amortization of operating lease liability for the six months ende

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Statement Of Cash Flows [Abstract]
Amortization of operating lease right-of-use assets	$ 10	$ 9
Amortization of operating lease liability	$ 10	$ 9

Organization, Basis of Presenta

Organization, Basis of Presentation, and Impact of Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 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 236 branches, 19 of which operate directly under the Community Bank name. The remaining 217 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. 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.

Computation of Earnings per Com

Computation of Earnings per Common Share	6 Months Ended
	Jun. 30, 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 June 30, For the Six Months Ended June 30, (amounts in millions, except share and per share amounts) 2021 2020 2021 2020 Net income available to common shareholders $ 144 $ 97 $ 281 $ 189 Less: Dividends paid on and earnings allocated to ( 3 ) ( 1 ) ( 4 ) ( 3 ) Earnings applicable to common stock $ 141 $ 96 $ 277 $ 186 Weighted average common shares outstanding 464,092,947 461,933,533 463,695,136 463,463,751 Basic earnings per common share $ 0.30 $ 0.21 $ 0.60 $ 0.40 Earnings applicable to common stock $ 141 $ 96 $ 277 $ 186 Weighted average common shares outstanding 464,092,947 461,933,533 463,695,136 463,463,751 Potential dilutive common shares 801,591 555,960 698,385 487,317 Total shares for diluted earnings per common share 464,894,538 462,489,493 464,393,521 463,951,068 Diluted earnings per common share and common share $ 0.30 $ 0.21 $ 0.60 $ 0.40

Reclassifications Out of Accumu

Reclassifications Out of Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2021
Reclassifications Of Accumulated Other Comprehensive Loss [Abstract]
Reclassifications Out of Accumulated Other Comprehensive Loss	Note 3: Reclassifications out of Accumulated Other Comprehensive Loss (dollars in millions) For the Six Months Ended June 30, 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: $ ( 11 ) Interest expense 3 Income tax benefit $ ( 8 ) Net loss on cash flow hedges, net of tax Amortization of defined benefit pension plan items: Past service liability $ — Included in the computation of net periodic credit (2) Actuarial losses ( 4 ) Included in the computation of net periodic cost (2) ( 4 ) Total before tax 1 Income tax benefit $ ( 3 ) Amortization of defined benefit pension plan items, net of tax Total reclassifications for the period $ ( 11 ) (1) Amounts in parentheses indicate expense items. (2) See Note 8, “Pension and Other Post-Retirement Benefits,” for additional information.

Securities

Securities	6 Months Ended
	Jun. 30, 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 June 30, 2021 and December 31, 2020: June 30, 2021 (dollars in millions) Amortized Gross Gross Fair Value Debt securities available-for-sale Mortgage-Related Debt Securities: GSE certificates $ 1,037 $ 32 $ 9 $ 1,060 GSE CMOs 1,940 25 32 1,933 Total mortgage-related debt securities $ 2,977 $ 57 $ 41 $ 2,993 Other Debt Securities: U. S. Treasury obligations $ 65 $ — $ — $ 65 GSE debentures 1,502 2 30 1,474 Asset-backed securities (1) 507 4 2 509 Municipal bonds 25 — — 25 Corporate bonds 871 21 2 890 Foreign notes 25 1 — 26 Capital trust notes 96 7 8 95 Total other debt securities $ 3,091 $ 35 $ 42 $ 3,084 Total debt securities available for sale $ 6,068 $ 92 $ 83 $ 6,077 Equity Securities: Mutual funds 16 — — 16 Total equity securities $ 16 $ — $ — $ 16 Total securities (2) $ 6,084 $ 92 $ 83 $ 6,093 (1) The underlying assets of the asset-backed securities are substantially guaranteed by the U.S. Government. (2) Excludes accrued interest receivable of $ 16 million included in other assets in the Consolidated Statements of Condition. December 31, 2020 (dollars in millions) Amortized Gross Gross Fair Value Debt securities available-for-sale Mortgage-Related Debt Securities: GSE certificates $ 1,155 $ 54 $ — $ 1,209 GSE CMOs 1,787 45 3 1,829 Total mortgage-related debt securities $ 2,942 $ 99 $ 3 $ 3,038 Other Debt Securities: U.S. Treasury obligations $ 65 $ — $ — $ 65 GSE debentures 1,158 4 4 1,158 Asset-backed securities (1) 530 2 6 526 Municipal bonds 26 1 — 27 Corporate bonds 871 18 6 883 Foreign notes 25 1 — 26 Capital trust notes 96 6 11 91 Total other debt securities $ 2,771 $ 32 $ 27 $ 2,776 Total other securities available for sale $ 5,713 $ 131 $ 30 $ 5,814 Equity Securities: Preferred stock $ 15 $ — $ — $ 15 Mutual funds 16 — — 16 Total equity securities $ 31 $ — $ — $ 31 Total securities (2) $ 5,744 $ 131 $ 30 $ 5,845 (1) The underlying assets of the asset-backed securities are substantially guaranteed by the U.S. Government. (2) Excludes accrued interest receivable of $ 15 million included in other assets in the Consolidated Statements of Condition. At June 30, 2021 and December 31, 2020 , respectively, the Company had $ 686 million and $ 714 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 six months ended June 30, 2021 and 2020: For the Six Months Ended (dollars in millions) 2021 2020 Gross proceeds — $ 442 Gross realized gains — 2 Gross realized losses — 1 Net losses on equity securities recognized in earnings for the six months ended June 30, 2021 and 2020 were $ 0 and $ 1 million, respectively. The following table summarizes, by contractual maturity, the amortized cost of securities at June 30, 2021: Mortgage- Average U.S. Average State, Average (1) Other Debt (2) Average Fair (dollars in millions) Available-for-Sale Debt Securities: Due within one year $ — - % $ 69 0.17 % $ — - % $ 50 2.97 % $ 119 Due from one to five years 242 3.19 22 3.52 — — 303 1.74 595 Due from five to ten years 163 2.47 380 1.95 19 3.52 625 2.24 1,200 Due after ten years 2,572 1.93 1,096 1.56 6 3.33 521 1.21 4,163 Total debt securities available for sale $ 2,977 2.06 % $ 1,567 1.62 % $ 25 3.48 % $ 1,499 1.81 % $ 6,077 (1) Not presented on a tax-equivalent basis. (2) Includes corporate bonds, capital trust notes, foreign 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 June 30, 2021: Less than Twelve Months Twelve Months or Longer Total (dollars in millions) Fair Unrealized Fair Unrealized Fair Unrealized Temporarily Impaired Securities: GSE certificates $ 336 $ 9 $ — $ — $ 336 $ 9 US Treasuries 65 — — — 65 — GSE CMOs 913 32 — — 913 32 GSE debentures 1,132 30 — — 1,132 30 Asset-backed securities 68 — 146 2 214 2 Municipal bonds — — 8 2 8 2 Corporate bonds — — 323 — 323 — Capital trust notes — — 36 8 36 8 Equity securities 11,709 — — — 11,709 — Total temporarily impaired securities $ 14,223 $ 71 $ 513 $ 12 $ 14,736 $ 83 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 (dollars in millions) Fair Unrealized Fair Unrealized Fair Unrealized Temporarily Impaired Securities: U. S. Treasury obligations $ — $ — $ — $ — $ — $ — U. S. Government agency and GSE 59 — — — 59 — GSE certificates 442 3 74 — 516 3 GSE CMOs 522 4 — — 522 4 Asset-backed securities — — 364 6 364 6 Municipal bonds — — 9 — 9 — Corporate bonds 72 3 246 3 318 6 Foreign notes — — — — — — Capital trust notes — — 33 11 33 11 Equity securities — — — — — — Total temporarily impaired securities $ 1,095 $ 10 $ 726 $ 20 $ 1,821 $ 30 The investment securities designated as having a continuous loss position for twelve months or more at June 30, 2021 consisted of five capital trusts notes, four 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 June 30, 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 six months ended June 30, 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	6 Months Ended
	Jun. 30, 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: June 30, 2021 December 31, 2020 (dollars in millions) Amount Percent of Amount Percent of Loans and Leases Held for Investment: Mortgage Loans: Multi-family $ 32,540 74.77 % $ 32,236 75.28 % Commercial real estate 6,813 15.66 6,836 15.96 One-to-four family 190 0.44 236 0.55 Acquisition, development, and construction 187 0.43 90 0.21 Total mortgage loans held for investment (1) 39,730 91.30 $ 39,398 92.00 Other Loans: Commercial and industrial 1,930 4.43 1,682 3.93 Lease financing, net of unearned income of 103 and $ 116 , respectively 1,846 4.24 1,735 4.05 Total commercial and industrial loans (2) 3,776 8.67 3,417 7.98 Other 12 0.03 7 0.02 Total other loans held for investment (1) 3,788 8.70 3,424 8.00 Total loans and leases held for investment $ 43,518 100.00 % $ 42,822 100.00 % Net deferred loan origination costs 57 62 Allowance for credit losses loans and leases ( 202 ) ( 194 ) Total loans and leases held for investment, net $ 43,373 $ 42,690 Loans held for sale (3) - 117 Total loans and leases, net $ 43,373 $ 42,807 ( 1) Excludes accrued interest receivable of $ 211 million and $ 219 million at June 30, 2021 and December 31, 2020, respectively, which is included in other assets in the Co nsolidated Statements of Condition. (2) Includes specialty finance loans and leases of $ 3.2 billion and $ 3.0 billion, respectively, at June 30, 2021 and December 31, 2020 , and other C&I loans of $ 555 million and $ 393 million, respectively, at J une 30, 2021 and December 31, 2020. (3) Includes deferred loan origination fees of $ 0 million and $ 2 million at June 30, 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 June 30, 2021 and December 31, 2020 , were loans of $ 7 million and $ 38 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 June 30, 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 June 30, 2021: (dollars in millions) Loans Non- Loans Total Current Total Loans Multi-family $ 9 $ 9 $ — $ 18 $ 32,522 $ 32,540 Commercial real estate 15 12 — 27 6,786 6,813 One-to-four family — 2 — 2 188 190 Acquisition, development, and construction — — — — 187 187 Commercial and industrial (1) (2) 11 — — 11 3,765 3,776 Other — 9 — 9 3 12 Total loans and leases held for investment $ 35 $ 32 $ — $ 67 $ 43,451 $ 43,518 (1) Includes $ 9 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: (dollars in millions) Loans Non- Loans Total Current Total Loans Multi-family $ 4 $ 4 $ — $ 8 $ 32,228 $ 32,236 Commercial real estate 10 12 — 22 6,814 6,836 One-to-four family 2 2 — 4 232 236 Acquisition, development, and construction — — — — 90 90 Commercial and industrial (1) (2) — 20 — 20 3,397 3,417 Other — — — — 7 7 Total $ 16 $ 38 $ — $ 54 $ 42,768 $ 42,822 (1) Includes $ 19 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 June 30, 2021: Mortgage Loans Other Loans (dollars in millions) Multi- Commercial One-to- Acquisition, Total Commercial (1) Other Total Other Credit Quality Indicator: Pass $ 31,044 $ 5,906 $ 177 $ 176 $ 37,303 $ 3,719 $ 12 $ 3,731 Special mention 879 682 5 11 1,577 2 — 2 Substandard 617 225 8 — 850 55 — 55 Doubtful — — — — — — — — Total $ 32,540 $ 6,813 $ 190 $ 187 $ 39,730 $ 3,776 $ 12 $ 3,788 (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 (dollars in millions) Multi- Commercial One-to- Acquisition, Total Commercial (1) Other Total Other Credit Quality Indicator: Pass $ 31,220 $ 5,884 $ 222 $ 68 $ 37,394 $ 3,388 $ 7 $ 3,395 Special mention 567 637 12 22 1,238 3 — 3 Substandard 449 315 2 — 766 26 — 26 Doubtful — — — — — — — — Total $ 32,236 $ 6,836 $ 236 $ 90 $ 39,398 $ 3,417 $ 7 $ 3,424 (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 June 30, 2021. (dollars in millions) Vintage Year Risk Rating Group 2021 2020 2019 2018 2017 Prior To Revolving Total Pass $ 4,297 $ 9,536 $ 6,159 $ 5,305 $ 3,630 $ 8,383 $ 20 $ 37,330 Special Mention — 30 272 194 138 944 — 1,578 Substandard — 7 70 226 120 426 1 850 Total mortgage loans $ 4,297 $ 9,573 $ 6,501 $ 5,725 $ 3,888 $ 9,753 $ 21 $ 39,758 Pass 612 931 632 139 184 217 1,045 3,760 Special Mention — — — — — — 2 2 Substandard — 2 3 2 8 14 26 55 Total other loans 612 933 635 141 192 231 1,073 3,817 Total $ 4,909 $ 10,506 $ 7,136 $ 5,866 $ 4,080 $ 9,984 $ 1,094 $ 43,575 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 June 30, 2021: Collateral (dollars in millions) Real Other Multi-family $ 7 $ — Commercial real estate 26 — One-to-four family — — Acquisition, development, and construction — — Commercial and industrial — 15 Other — — Total collateral-dependent loans held for investment $ 33 $ 15 There were no significant changes in the extent to which collateral secures the Company’s collateral-dependent financial assets during the six months ended June 30, 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 June 30, 2021 , loans on which concessions were made with respect to rate reductions and/or extension of maturity dates amounted to $ 31 million. 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 June 30, 2021 and December 31, 2020: June 30, 2021 December 31, 2020 (dollars in millions) Accruing Non- Total Accruing Non- Total Loan Category: Multi-family $ — $ 7 $ 7 $ — $ — $ — Commercial real estate 15 — 15 15 — 15 One-to-four family — — — — — — Commercial and industrial (1) — 9 9 — 19 19 Total $ 15 $ 16 $ 31 $ 15 $ 19 $ 34 (1) Includes $ 9 million and $ 18 million of taxi medallion-related loans at June 30, 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 June 30, 2021 and 2020 are summarized as follows: For the Three Months Ended June 30, 2021 Weighted Average (dollars in millions) Number Pre- Post- Pre- Post- Charge- Capitalized Loan Category: Multi-family — $ — $ — — — $ — $ — For the Three Months Ended June 30, 2020 Weighted Average (dollars in millions) Number Pre- Post- Pre- Post- Charge- Capitalized Loan Category: Commercial real estate 1 $ 15 $ 15 8.00 % 3.50 % $ — $ — Commercial and industrial 11 2 1 2.92 2.92 1 — Total 12 17 16 7.28 3.45 $ 1 $ — The financial effects of the Company’s TDRs for the six months ended June 30, 2021 and 2020 are summarized as follows: For the Six Months Ended June 30, 2021 Weighted Average (dollars in millions) Number Pre- Post- Pre- Post- Charge- Capitalized Loan Category: Multi-family 1 7 7 3.13 % 3.25 % $ — $ — For the Six Months Ended June 30, 2020 Weighted Average (dollars in millions) Number Pre- Post- Pre- Post- Charge- Capitalized Loan Category: Commercial real estate 1 $ 15 $ 15 8.00 % 3.50 % $ — $ — Commercial and industrial 19 4 3 3.08 3.03 1 — Total 20 $ 19 $ 18 6.89 3.42 $ 1 $ — At June 30, 2021 , 18 C&I loans in the aggregate amount of $ 2 million have been modified as TDRs during the twelve months ended at that date, and were in payment default. At June 30, 2020 , 40 C&I loans in the aggregate amount of $ 6 million 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	6 Months Ended
	Jun. 30, 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 Six Months Ended June 30, 2021 2020 (dollars in millions) Mortgage Other Total Mortgage Other Total Balance, beginning of period $ 176 $ 18 $ 194 $ 123 $ 25 $ 148 Impact of CECL adoption — — — — 2 2 Adjusted balance, beginning of period 176 18 194 123 27 150 Charge-offs ( 2 ) ( 3 ) ( 5 ) — ( 14 ) ( 14 ) Recoveries 2 10 12 — — — Provision for credit losses 1 — 1 34 4 38 Balance, end of period $ 177 $ 25 $ 202 $ 157 $ 17 $ 174 At June 30, 2021 , the allowance for credit losses on loans and leases totaled $ 202 million, up $ 8 million compared to December 31, 2020, driven by net recoveries of $ 7 million. Separately, at June 30, 2021 , the Company had an allowance for unfunded commitments of $ 11 million. For the six months ended June 30, 2021 , the allowance for credit losses on loan and leases increased primarily as a result of growth across segments of the loan portfolio, and by macroeconomic factors surrounding the COVID-19 pandemic, specifically the resultant estimated decreases in property values in the New York City area. The forecast includes a temporarily significant increase in Gross Domestic Product (“GDP”) to +6.9% in the second half of 2021 as the economy begins to recover from the systemic disruptions of the COVID-19 pandemic. Unemployment continues to subside from the historic shock of 2020, but is not forecasted to return to pre-pandemic levels around 3.5% until 2023. Interest rates are forecasted to begin to rise modestly and 10 Year-Baa spread widens slightly beginning in 2022 and levels off at 2.6% through 2023. In addition to these quantitative inputs, several qualitative factors were considered in increasing our allowance for loan and lease credit losses, 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 June 30, 2021: (dollars in millions) Recorded Related Interest Nonaccrual loans with no related allowance: Multi-family $ 7 $ — $ — Commercial real estate 11 - - One-to-four family - - - Acquisition, development, and construction - - - Other 9 - - Total nonaccrual loans with no related allowance $ 27 $ — $ — Nonaccrual loans with an allowance recorded: Multi-family $ 2 $ 1 $ — Commercial real estate 1 - - One-to-four family 2 - - Acquisition, development, and construction - - - Other - - - Total nonaccrual loans with an allowance recorded $ 5 $ 1 $ — Total nonaccrual loans: Multi-family $ 9 $ 1 $ — Commercial real estate 12 - - One-to-four family 2 - - Acquisition, development, and construction - - - Other 9 - - Total nonaccrual loans $ 32 $ 1 $ — The following table presents additional information about the Company’s nonaccrual loans at December 31, 2020: (dollars in millions) Recorded Related Interest Nonaccrual loans with no related allowance: Multi-family $ — $ — $ — Commercial real estate 2 — — One-to-four family 1 — — Acquisition, development, and construction — — — Other 20 — 1 Total nonaccrual loans with no related allowance $ 23 $ — $ 1 Nonaccrual loans with an allowance recorded: Multi-family $ 4 $ 1 $ — Commercial real estate 10 — — One-to-four family 1 — — Acquisition, development, and construction — — — Other — — — Total nonaccrual loans with an allowance recorded $ 15 $ 1 $ — Total nonaccrual loans: Multi-family $ 4 $ 1 $ — Commercial real estate 12 — — One-to-four family 2 — — Acquisition, development, and construction — — — Other 20 — 1 Total nonaccrual loans $ 38 $ 1 $ 1

Borrowed Funds

Borrowed Funds	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Borrowed Funds	Note 7. Borrowed Funds The following table summarizes the Company’s borrowed funds at the dates indicated: (dollars in millions) June 30, December 31, Wholesale Borrowings: FHLB advances $ 14,003 $ 14,628 Repurchase agreements 800 800 Total wholesale borrowings $ 14,803 $ 15,428 Junior subordinated debentures 360 360 Subordinated notes 296 296 Total borrowed funds $ 15,459 $ 16,084 The following table summarizes the Company’s repurchase agreements accounted for as secured borrowings at June 30, 2021: Remaining Contractual Maturity of the Agreements (dollars in millions) Overnight and Up to 30–90 Days Greater than GSE obligations $ — $ — $ — $ 800 Subordinated Notes At June 30, 2021 and December 31, 2020 , the Company had $ 296 million of fixed-to-floating rate subordinated notes outstanding: Date of Original Issue Stated Interest (1) Original Issue (dollars in millions) Nov. 6, 2018 Nov. 6, 2028 5.90 % $ 300 (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 June 30, 2021 and December 31, 2020 , the Company had $ 360 million 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 June 30, 2021: Issuer Interest Junior Capital Date of Stated First (dollars in millions) New York Community Capital Trust V SM Units) 6.00 % $ 146 $ 140 Nov. 4, 2002 Nov. 1, 2051 Nov. 4, 2007 (1) New York Community Capital Trust X 1.72 124 120 Dec. 14, 2006 Dec. 15, 2036 Dec. 15, 2011 (2) PennFed Capital Trust III 3.37 31 30 June 2, 2003 June 15, 2033 June 15, 2008 (2) New York Community Capital Trust XI 1.80 59 57 April 16, 2007 June 30, 2037 June 30, 2012 (2) Total junior subordinated debentures $ 360 $ 347 (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	6 Months Ended
	Jun. 30, 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 June 30, 2021 2020 (dollars in millions) Pension Post- Pension Post- Components of net periodic (credit) expense: (1) Interest cost $ 1 $ — $ 1 $ — Expected return on plan assets ( 4 ) — ( 4 ) — Amortization of prior-service liability — — — — Amortization of net actuarial loss 2 — 2 — Net periodic (credit) expense $ ( 1 ) $ — $ ( 1 ) $ — For the Six Months Ended June 30, 2021 2020 (dollars in millions) Pension Post- Pension Post- Components of net periodic (credit) expense: (1) Interest cost $ 2 $ — $ 2 $ — Expected return on plan assets ( 8 ) — ( 8 ) — Amortization of prior-service liability — — — — Amortization of net actuarial loss 4 — 4 — Net periodic (credit) expense $ ( 2 ) $ — $ ( 2 ) $ — (1) Amounts are included in G&A expense on the Consolidated Statements of Income and Comprehensive Income. The Company expects to contribute $ 1 million 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	6 Months Ended
	Jun. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	Note 9. Stock-Based Compensation At June 30, 2021 , the Company had a total of 8,505,303 shares available for grants as restricted stock, options, or other forms of related rights. The Company granted 3,045,949 shares of restricted stock, with an average fair value of $ 11.16 per share on the date of grant, during the six months ended June 30, 2021. During the six months ended June 30, 2020 , the Company granted 2,390,345 shares of restricted stock, with an average fair value of $ 11.64 per share. The shares of restricted stock that were granted during the six months ended June 30, 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 $ 15 million and $ 16 million for the six months ended June 30, 2021 and 2020 , including $ 7 million and $ 7 million for the three months ended at those dates. The following table provides a summary of activity with regard to restricted stock awards in the six months ended June 30, 2021: Number of Weighted Average Unvested at beginning of year 6,228,048 $ 12.43 Granted 3,045,949 11.16 Vested ( 2,015,702 ) 13.19 Canceled ( 172,900 ) 11.72 Unvested at end of period 7,085,395 11.68 As of June 30, 2021 , unrecognized compensation cost relating to unvested restricted stock totaled $ 70 million. This amount will be recognized over a remaining weighted average period of 3.4 years. The following table provides a summary of activity with regard to Performance-Based Restricted Stock Units ("PSUs") in the six months ended June 30, 2021: Number of Performance Expected Outstanding at beginning of year 477,872 Granted 356,740 January 1, 2021 - December 31, 2023 March 31, 2024 Outstanding at end of period 834,612 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 $ 1 million for the three and six months ended June 30, 2021 and June 30, 2020. As of June 30, 2021 , unrecognized compensation cost relating to unvested restricted stock totaled $ 6 million. This amount will be recognized over a remaining weighted average period of 1.9 years. As of June 30, 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 million and $ 3 million for the three and six months ended June 30, 2021 and June 30, 2020.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 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 June 30, 2021 and December 31, 2020, and that were included in the Company’s Consolidated Statements of Condition at those dates: Fair Value Measurements at June 30, 2021 (dollars in millions) Quoted Prices Significant Significant Netting Total Fair Assets: Mortgage-Related Debt Securities Available for Sale: GSE certificates $ — $ 1,060 $ — $ — $ 1,060 GSE CMOs — 1,933 — — 1,933 Total mortgage-related debt securities $ — $ 2,993 $ — $ — $ 2,993 Other Debt Securities Available for Sale: U. S. Treasury obligations $ 65 $ — $ — $ — $ 65 GSE debentures — 1,474 — — 1,474 Asset-backed securities — 509 — — 509 Municipal bonds — 25 — — 25 Corporate bonds — 890 — — 890 Foreign notes — 26 26 Capital trust notes — 95 — — 95 Total other debt securities $ 65 $ 3,019 $ — $ — $ 3,084 Total debt securities available for sale $ 65 $ 6,012 $ — $ — $ 6,077 Equity securities: Mutual funds — 16 — — 16 Total equity securities $ — $ 16 $ — $ — $ 16 Total securities $ 65 $ 6,028 $ — $ — $ 6,093 Fair Value Measurements at December 31, 2020 (dollars in millions) Quoted Prices Significant Significant Netting Total Fair Assets: Mortgage-Related Debt Securities Available for Sale: GSE certificates $ — $ 1,209 $ — $ — $ 1,209 GSE CMOs — 1,829 — — 1,829 Total mortgage-related debt securities $ — $ 3,038 $ — $ — $ 3,038 Other Debt Securities Available for Sale: U.S. Treasury obligations $ 65 $ — $ — $ — $ 65 GSE debentures — 1,158 — — 1,158 Asset-backed securities — 526 — — 526 Municipal bonds — 27 — — 27 Corporate bonds — 883 — — 883 Foreign notes — 26 26 Capital trust notes — 91 — — 91 Total other debt securities $ 65 $ 2,711 $ — $ — $ 2,776 Total debt securities available for sale $ 65 $ 5,749 $ — $ — $ 5,814 Equity securities: Preferred stock $ 15 $ — $ — $ — $ 15 Mutual funds — 16 — — 16 Total equity securities $ 15 $ 16 $ — $ — $ 31 Total securities $ 80 $ 5,765 $ — $ — $ 5,845 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 June 30, 2021 and December 31, 2020, and that were included in the Company’s Consolidated Statements of Condition at those dates: Fair Value Measurements at June 30, 2021 Using (dollars in millions) Quoted Prices in Significant Other Significant Total Fair Certain nonaccrual loans (1) $ — $ — $ 31 $ 31 Other assets (2) — — 11 11 Total $ — $ — $ 42 $ 42 (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 (dollars in millions) Quoted Prices in Significant Other Significant Total Fair Certain nonaccrual loans (1) $ — $ — $ 41 $ 41 Other assets (2) — — 6 6 Total $ — $ — $ 47 $ 47 (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 June 30, 2021 and December 31, 2020: June 30, 2021 Fair Value Measurement Using (dollars in millions) Carrying Value Estimated Quoted Prices Significant Significant Financial Assets: Cash and cash equivalents $ 2,086 $ 2,086 $ 2,086 $ — $ — FHLB stock (1) 686 686 — 686 — Loans, net 43,373 42,913 — — 42,913 Financial Liabilities: Deposits $ 34,177 $ 34,186 $ 25,228 (2) $ 8,958 (3) $ — Borrowed funds 15,459 16,243 — 16,243 — (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 (dollars in millions) Carrying Estimated Quoted Prices Significant Significant Financial Assets: Cash and cash equivalents $ 1,948 $ 1,948 $ 1,948 $ — $ — FHLB stock (1) 714 714 — 714 — Loans, net 42,807 42,376 — $ — 42,376 Financial Liabilities: Deposits $ 32,437 $ 32,466 $ 22,106 (2) $ 10,360 (3) $ — Borrowed funds 16,084 16,794 — 16,794 — (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 June 30, 2021 and December 31, 2020.

Leases

Leases	6 Months Ended
	Jun. 30, 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 June 30, 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 million and $ 71 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: (dollars in millions) For the For the Six For the For the Six Interest income on lease financing (1) $ 14 $ 28 $ 14 $ 26 (1) Included in Interest Income – Loans and leases in the Consolidated Statements of Income and Comprehensive Income. At June 30, 2021 and December 31, 2020, the carrying value of net investment in leases was $ 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: (dollars in millions) June 30, December 31, Net investment in the lease - lease payments receivable $ 1,871 $ 1,771 Net investment in the lease - unguaranteed 78 80 Total lease payments $ 1,949 $ 1,851 The following table presents the remaining maturity analysis of the undiscounted lease receivables as of June 30, 2021, as well as the reconciliation to the total amount of receivables recognized in the Consolidated Statements of Condition: (dollars in millions) June 30, 2021 $ 17 2022 53 2023 287 2024 308 2025 404 Thereafter 880 Total lease payments 1,949 Plus: deferred origination costs 28 Less: unearned income ( 103 ) Total lease finance receivables, net $ 1,874 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 $ 10 million and $ 9 million for the six months ended June 30, 2021 and June 30, 2020 , respectively. Included in these amounts was $ 5 million for the three months ended June 30, 2021 and June 30, 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: (dollars in millions) For the For the Six For the For the Six Operating lease cost $ 7 $ 13 $ 7 $ 14 Sublease income — — — — Total lease cost $ 7 $ 13 $ 7 $ 14 Supplemental cash flow information related to the leases for the following periods: (dollars in millions) For the For the Six For the For the Six Cash paid for amounts included in the measurement Operating cash flows from operating leases $ 7 $ 13 $ 7 $ 14 Supplemental balance sheet information related to the leases for the following periods: (in millions, except lease term and discount rate) June 30, December 31, Operating Leases: Operating lease right-of-use assets 256 $ 267 Operating lease liabilities 256 267 Weighted average remaining lease term 16 years 16 years Weighted average discount rate 3.07 % 3.12 % Maturities of lease liabilities: June 30, (dollars in millions) 2021 $ 13 2022 26 2023 26 2024 25 2025 24 Thereafter 218 Total lease payments 332 Less: imputed interest ( 76 ) Total present value of lease liabilities $ 256

Derivative and Hedging Activiti

Derivative and Hedging Activities	6 Months Ended
	Jun. 30, 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 June 30, 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 June 30, 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 June 30, 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 and six months ended June 30, 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 million and $ 24 million for the three and six months ended June 30, 2021. For the three and six months ended June 30, 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 $ 8 million and $ 12 million for the three and six months ended June 30, 2020, respectively. As of June 30, 2021, the following amounts were recorded on the balance sheet related to cumulative basis adjustment for fair value hedges: (dollars in millions) June 30, 2021 Line Item in the Consolidated Statements of Condition in which the Hedge Item is Included Carrying Cumulative Total loans and leases, net (1) $ 2,050 $ 50 (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 June 30, 2021 , the amortized cost basis of the closed portfolios used in these hedging relationships was $ 3.1 billion; the cumulative basis adjustments associated with these hedging relationships was $ 50 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: (dollars in millions) 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 $ 73 (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 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 June 30, 2021 and December 31, 2020: Notional Other Other Derivatives designated as fair value hedging Interest rate swap $ 2,000 $ — $ — Total derivatives designated as fair value hedging $ 2,000 $ — $ — The following table sets forth the effect of derivative instruments on the Consolidated Statements of Income and Comprehensive Income for the periods indicated. (dollars in millions) For the Three For the Six For the Three For the Six Derivative – interest rate swap: Interest income $ ( 2 ) $ 24 $ ( 9 ) $ ( 37 ) Hedged item – loans: Interest income $ 2 $ ( 24 ) $ 9 $ 37 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 June 30, 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 June 30, 2021 and December 31, 2020: (dollars in millions) June 30, December 31, Notional amounts $ 2,250 $ 2,250 Cash collateral posted 30 46 Weighted average pay rates 1.27 % 1.27 % Weighted average receive rates 0.15 % 0.23 % Weighted average maturity 1.4 years 1.9 years The following table presents the effect of the Company’s cash flow derivative instruments on AOCL for the six months ended June 30, 2021 and 2020: (dollars in millions) For the Six For the Six Amount of gain (loss) recognized in AOCL $ 4 $ 57 Amount of gain (loss) reclassified from AOCL to interest expense 11 1 Gains (losses) included in the Consolidated Statements of Income related to interest rate derivatives designated as cash flow hedges during the six months ended June 30, 2021 was $ 11 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 $ 25 million will be reclassified to interest expense.

Pending Acquisition

Pending Acquisition	6 Months Ended
	Jun. 30, 2021
Business Combinations [Abstract]
Pending Acquisition	Note 13. Pending Acquisition Acquisition of Flagstar Bancorp, Inc. ("Flagstar") On April 26, 2021, the Company announced that it had entered into a definitive merger agreement (the “Merger Agreement”) under which we would acquire Flagstar Bancorp, Inc. ("Flagstar") in a 100 % stock transaction valued at the time at $ 2.6 billion (the “Merger”). 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 Merger, 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 $ 85 billion in total assets, operate nearly 400 traditional branches in nine states, and 86 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. Results of Special Shareholder Meeting to Approve Merger with Flagstar On August 4, 2021, the Company’s shareholders held a special meeting at which the shareholders approved the issuance of Company common stock to holders of Flagstar Bancorp, Inc. common stock pursuant to the Agreement and Plan of Merger, dated as of April 24, 2021 (the “Merger Agreement”), and on the same date Flagstar’s shareholders held a special meeting at which its shareholders approved the Merger Agreement. The Merger is expected to close during the fourth quarter of 2021, subject to the satisfaction of certain closing conditions and the receipt of all necessary regulatory approvals.

Legal Proceedings

Legal Proceedings	6 Months Ended
	Jun. 30, 2021
Legal Proceedings [Abstract]
Legal Proceedings	Note 14. Legal Proceedings Following the announcement of the Merger Agreement, the first of four lawsuits was filed on June 23, 2021 in United States Federal District Courts by alleged stockholders of NYCB against NYCB and the members of its board of directors challenging the accuracy or completeness of the disclosures contained in the Form S-4 filed on June 25, 2021 by NYCB with the SEC relating to the proposed Merger. Four additional lawsuits were filed by alleged Flagstar stockholders in state and federal courts against Flagstar and its board of directors (and, in one instance, NYCB and 615 Corp.) challenging the proposed Merger or Flagstar’s disclosures relating to the Merger. The complaints in the actions against NYCB allege, among other things, that the defendants caused a materially incomplete and misleading Form S-4 relating to the proposed Merger to be filed with the SEC in violation of Section 14(a) and Section 20(a) of the Securities Exchange Act of 1934, as amended, and Rule 14a-9 promulgated thereunder. NYCB believes that these claims are without merit.

Organization, Basis of Presen_2

Organization, Basis of Presentation, and Impact of Recent Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 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 236 branches, 19 of which operate directly under the Community Bank name. The remaining 217 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.
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.

Computation of Earnings per C_2

Computation of Earnings per Common Share (Tables)	6 Months Ended
	Jun. 30, 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 June 30, For the Six Months Ended June 30, (amounts in millions, except share and per share amounts) 2021 2020 2021 2020 Net income available to common shareholders $ 144 $ 97 $ 281 $ 189 Less: Dividends paid on and earnings allocated to ( 3 ) ( 1 ) ( 4 ) ( 3 ) Earnings applicable to common stock $ 141 $ 96 $ 277 $ 186 Weighted average common shares outstanding 464,092,947 461,933,533 463,695,136 463,463,751 Basic earnings per common share $ 0.30 $ 0.21 $ 0.60 $ 0.40 Earnings applicable to common stock $ 141 $ 96 $ 277 $ 186 Weighted average common shares outstanding 464,092,947 461,933,533 463,695,136 463,463,751 Potential dilutive common shares 801,591 555,960 698,385 487,317 Total shares for diluted earnings per common share 464,894,538 462,489,493 464,393,521 463,951,068 Diluted earnings per common share and common share $ 0.30 $ 0.21 $ 0.60 $ 0.40

Reclassifications Out of Accu_2

Reclassifications Out of Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2021
Reclassifications Of Accumulated Other Comprehensive Loss [Abstract]
Reclassifications Out of Accumulated Other Comprehensive Loss	(dollars in millions) For the Six Months Ended June 30, 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: $ ( 11 ) Interest expense 3 Income tax benefit $ ( 8 ) Net loss on cash flow hedges, net of tax Amortization of defined benefit pension plan items: Past service liability $ — Included in the computation of net periodic credit (2) Actuarial losses ( 4 ) Included in the computation of net periodic cost (2) ( 4 ) Total before tax 1 Income tax benefit $ ( 3 ) Amortization of defined benefit pension plan items, net of tax Total reclassifications for the period $ ( 11 ) (1) Amounts in parentheses indicate expense items. (2) See Note 8, “Pension and Other Post-Retirement Benefits,” for additional information.

Securities (Tables)

Securities (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2021 and December 31, 2020: June 30, 2021 (dollars in millions) Amortized Gross Gross Fair Value Debt securities available-for-sale Mortgage-Related Debt Securities: GSE certificates $ 1,037 $ 32 $ 9 $ 1,060 GSE CMOs 1,940 25 32 1,933 Total mortgage-related debt securities $ 2,977 $ 57 $ 41 $ 2,993 Other Debt Securities: U. S. Treasury obligations $ 65 $ — $ — $ 65 GSE debentures 1,502 2 30 1,474 Asset-backed securities (1) 507 4 2 509 Municipal bonds 25 — — 25 Corporate bonds 871 21 2 890 Foreign notes 25 1 — 26 Capital trust notes 96 7 8 95 Total other debt securities $ 3,091 $ 35 $ 42 $ 3,084 Total debt securities available for sale $ 6,068 $ 92 $ 83 $ 6,077 Equity Securities: Mutual funds 16 — — 16 Total equity securities $ 16 $ — $ — $ 16 Total securities (2) $ 6,084 $ 92 $ 83 $ 6,093 (1) The underlying assets of the asset-backed securities are substantially guaranteed by the U.S. Government. (2) Excludes accrued interest receivable of $ 16 million included in other assets in the Consolidated Statements of Condition. December 31, 2020 (dollars in millions) Amortized Gross Gross Fair Value Debt securities available-for-sale Mortgage-Related Debt Securities: GSE certificates $ 1,155 $ 54 $ — $ 1,209 GSE CMOs 1,787 45 3 1,829 Total mortgage-related debt securities $ 2,942 $ 99 $ 3 $ 3,038 Other Debt Securities: U.S. Treasury obligations $ 65 $ — $ — $ 65 GSE debentures 1,158 4 4 1,158 Asset-backed securities (1) 530 2 6 526 Municipal bonds 26 1 — 27 Corporate bonds 871 18 6 883 Foreign notes 25 1 — 26 Capital trust notes 96 6 11 91 Total other debt securities $ 2,771 $ 32 $ 27 $ 2,776 Total other securities available for sale $ 5,713 $ 131 $ 30 $ 5,814 Equity Securities: Preferred stock $ 15 $ — $ — $ 15 Mutual funds 16 — — 16 Total equity securities $ 31 $ — $ — $ 31 Total securities (2) $ 5,744 $ 131 $ 30 $ 5,845 (1) The underlying assets of the asset-backed securities are substantially guaranteed by the U.S. Government. (2) Excludes accrued interest receivable of $ 15 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 six months ended June 30, 2021 and 2020: For the Six Months Ended (dollars in millions) 2021 2020 Gross proceeds — $ 442 Gross realized gains — 2 Gross realized losses — 1
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 June 30, 2021: Mortgage- Average U.S. Average State, Average (1) Other Debt (2) Average Fair (dollars in millions) Available-for-Sale Debt Securities: Due within one year $ — - % $ 69 0.17 % $ — - % $ 50 2.97 % $ 119 Due from one to five years 242 3.19 22 3.52 — — 303 1.74 595 Due from five to ten years 163 2.47 380 1.95 19 3.52 625 2.24 1,200 Due after ten years 2,572 1.93 1,096 1.56 6 3.33 521 1.21 4,163 Total debt securities available for sale $ 2,977 2.06 % $ 1,567 1.62 % $ 25 3.48 % $ 1,499 1.81 % $ 6,077 (1) Not presented on a tax-equivalent basis. (2) Includes corporate bonds, capital trust notes, foreign 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 June 30, 2021: Less than Twelve Months Twelve Months or Longer Total (dollars in millions) Fair Unrealized Fair Unrealized Fair Unrealized Temporarily Impaired Securities: GSE certificates $ 336 $ 9 $ — $ — $ 336 $ 9 US Treasuries 65 — — — 65 — GSE CMOs 913 32 — — 913 32 GSE debentures 1,132 30 — — 1,132 30 Asset-backed securities 68 — 146 2 214 2 Municipal bonds — — 8 2 8 2 Corporate bonds — — 323 — 323 — Capital trust notes — — 36 8 36 8 Equity securities 11,709 — — — 11,709 — Total temporarily impaired securities $ 14,223 $ 71 $ 513 $ 12 $ 14,736 $ 83 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 (dollars in millions) Fair Unrealized Fair Unrealized Fair Unrealized Temporarily Impaired Securities: U. S. Treasury obligations $ — $ — $ — $ — $ — $ — U. S. Government agency and GSE 59 — — — 59 — GSE certificates 442 3 74 — 516 3 GSE CMOs 522 4 — — 522 4 Asset-backed securities — — 364 6 364 6 Municipal bonds — — 9 — 9 — Corporate bonds 72 3 246 3 318 6 Foreign notes — — — — — — Capital trust notes — — 33 11 33 11 Equity securities — — — — — — Total temporarily impaired securities $ 1,095 $ 10 $ 726 $ 20 $ 1,821 $ 30

Loans and Leases (Tables)

Loans and Leases (Tables)	6 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
Composition of Loan and Lease Portfolio	The following table sets forth the composition of the loan portfolio at the dates indicated: June 30, 2021 December 31, 2020 (dollars in millions) Amount Percent of Amount Percent of Loans and Leases Held for Investment: Mortgage Loans: Multi-family $ 32,540 74.77 % $ 32,236 75.28 % Commercial real estate 6,813 15.66 6,836 15.96 One-to-four family 190 0.44 236 0.55 Acquisition, development, and construction 187 0.43 90 0.21 Total mortgage loans held for investment (1) 39,730 91.30 $ 39,398 92.00 Other Loans: Commercial and industrial 1,930 4.43 1,682 3.93 Lease financing, net of unearned income of 103 and $ 116 , respectively 1,846 4.24 1,735 4.05 Total commercial and industrial loans (2) 3,776 8.67 3,417 7.98 Other 12 0.03 7 0.02 Total other loans held for investment (1) 3,788 8.70 3,424 8.00 Total loans and leases held for investment $ 43,518 100.00 % $ 42,822 100.00 % Net deferred loan origination costs 57 62 Allowance for credit losses loans and leases ( 202 ) ( 194 ) Total loans and leases held for investment, net $ 43,373 $ 42,690 Loans held for sale (3) - 117 Total loans and leases, net $ 43,373 $ 42,807 ( 1) Excludes accrued interest receivable of $ 211 million and $ 219 million at June 30, 2021 and December 31, 2020, respectively, which is included in other assets in the Co nsolidated Statements of Condition. (2) Includes specialty finance loans and leases of $ 3.2 billion and $ 3.0 billion, respectively, at June 30, 2021 and December 31, 2020 , and other C&I loans of $ 555 million and $ 393 million, respectively, at J une 30, 2021 and December 31, 2020. (3) Includes deferred loan origination fees of $ 0 million and $ 2 million at June 30, 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 June 30, 2021: (dollars in millions) Loans Non- Loans Total Current Total Loans Multi-family $ 9 $ 9 $ — $ 18 $ 32,522 $ 32,540 Commercial real estate 15 12 — 27 6,786 6,813 One-to-four family — 2 — 2 188 190 Acquisition, development, and construction — — — — 187 187 Commercial and industrial (1) (2) 11 — — 11 3,765 3,776 Other — 9 — 9 3 12 Total loans and leases held for investment $ 35 $ 32 $ — $ 67 $ 43,451 $ 43,518 (1) Includes $ 9 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: (dollars in millions) Loans Non- Loans Total Current Total Loans Multi-family $ 4 $ 4 $ — $ 8 $ 32,228 $ 32,236 Commercial real estate 10 12 — 22 6,814 6,836 One-to-four family 2 2 — 4 232 236 Acquisition, development, and construction — — — — 90 90 Commercial and industrial (1) (2) — 20 — 20 3,397 3,417 Other — — — — 7 7 Total $ 16 $ 38 $ — $ 54 $ 42,768 $ 42,822 (1) Includes $ 19 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 June 30, 2021: Mortgage Loans Other Loans (dollars in millions) Multi- Commercial One-to- Acquisition, Total Commercial (1) Other Total Other Credit Quality Indicator: Pass $ 31,044 $ 5,906 $ 177 $ 176 $ 37,303 $ 3,719 $ 12 $ 3,731 Special mention 879 682 5 11 1,577 2 — 2 Substandard 617 225 8 — 850 55 — 55 Doubtful — — — — — — — — Total $ 32,540 $ 6,813 $ 190 $ 187 $ 39,730 $ 3,776 $ 12 $ 3,788 (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 (dollars in millions) Multi- Commercial One-to- Acquisition, Total Commercial (1) Other Total Other Credit Quality Indicator: Pass $ 31,220 $ 5,884 $ 222 $ 68 $ 37,394 $ 3,388 $ 7 $ 3,395 Special mention 567 637 12 22 1,238 3 — 3 Substandard 449 315 2 — 766 26 — 26 Doubtful — — — — — — — — Total $ 32,236 $ 6,836 $ 236 $ 90 $ 39,398 $ 3,417 $ 7 $ 3,424 (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 June 30, 2021. (dollars in millions) Vintage Year Risk Rating Group 2021 2020 2019 2018 2017 Prior To Revolving Total Pass $ 4,297 $ 9,536 $ 6,159 $ 5,305 $ 3,630 $ 8,383 $ 20 $ 37,330 Special Mention — 30 272 194 138 944 — 1,578 Substandard — 7 70 226 120 426 1 850 Total mortgage loans $ 4,297 $ 9,573 $ 6,501 $ 5,725 $ 3,888 $ 9,753 $ 21 $ 39,758 Pass 612 931 632 139 184 217 1,045 3,760 Special Mention — — — — — — 2 2 Substandard — 2 3 2 8 14 26 55 Total other loans 612 933 635 141 192 231 1,073 3,817 Total $ 4,909 $ 10,506 $ 7,136 $ 5,866 $ 4,080 $ 9,984 $ 1,094 $ 43,575
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 June 30, 2021: Collateral (dollars in millions) Real Other Multi-family $ 7 $ — Commercial real estate 26 — One-to-four family — — Acquisition, development, and construction — — Commercial and industrial — 15 Other — — Total collateral-dependent loans held for investment $ 33 $ 15
Information Regarding Troubled Debt Restructurings	The following table presents information regarding the Company’s TDRs as of June 30, 2021 and December 31, 2020: June 30, 2021 December 31, 2020 (dollars in millions) Accruing Non- Total Accruing Non- Total Loan Category: Multi-family $ — $ 7 $ 7 $ — $ — $ — Commercial real estate 15 — 15 15 — 15 One-to-four family — — — — — — Commercial and industrial (1) — 9 9 — 19 19 Total $ 15 $ 16 $ 31 $ 15 $ 19 $ 34 (1) Includes $ 9 million and $ 18 million of taxi medallion-related loans at June 30, 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 June 30, 2021 and 2020 are summarized as follows: For the Three Months Ended June 30, 2021 Weighted Average (dollars in millions) Number Pre- Post- Pre- Post- Charge- Capitalized Loan Category: Multi-family — $ — $ — — — $ — $ — For the Three Months Ended June 30, 2020 Weighted Average (dollars in millions) Number Pre- Post- Pre- Post- Charge- Capitalized Loan Category: Commercial real estate 1 $ 15 $ 15 8.00 % 3.50 % $ — $ — Commercial and industrial 11 2 1 2.92 2.92 1 — Total 12 17 16 7.28 3.45 $ 1 $ — The financial effects of the Company’s TDRs for the six months ended June 30, 2021 and 2020 are summarized as follows: For the Six Months Ended June 30, 2021 Weighted Average (dollars in millions) Number Pre- Post- Pre- Post- Charge- Capitalized Loan Category: Multi-family 1 7 7 3.13 % 3.25 % $ — $ — For the Six Months Ended June 30, 2020 Weighted Average (dollars in millions) Number Pre- Post- Pre- Post- Charge- Capitalized Loan Category: Commercial real estate 1 $ 15 $ 15 8.00 % 3.50 % $ — $ — Commercial and industrial 19 4 3 3.08 3.03 1 — Total 20 $ 19 $ 18 6.89 3.42 $ 1 $ —

Allowance for Credit Losses o_2

Allowance for Credit Losses on Loans and Leases (Tables)	6 Months Ended
	Jun. 30, 2021
Summary of Additional Information about Nonaccrual Loans	The following table presents additional information about the Company’s nonaccrual loans at June 30, 2021: (dollars in millions) Recorded Related Interest Nonaccrual loans with no related allowance: Multi-family $ 7 $ — $ — Commercial real estate 11 - - One-to-four family - - - Acquisition, development, and construction - - - Other 9 - - Total nonaccrual loans with no related allowance $ 27 $ — $ — Nonaccrual loans with an allowance recorded: Multi-family $ 2 $ 1 $ — Commercial real estate 1 - - One-to-four family 2 - - Acquisition, development, and construction - - - Other - - - Total nonaccrual loans with an allowance recorded $ 5 $ 1 $ — Total nonaccrual loans: Multi-family $ 9 $ 1 $ — Commercial real estate 12 - - One-to-four family 2 - - Acquisition, development, and construction - - - Other 9 - - Total nonaccrual loans $ 32 $ 1 $ — The following table presents additional information about the Company’s nonaccrual loans at December 31, 2020: (dollars in millions) Recorded Related Interest Nonaccrual loans with no related allowance: Multi-family $ — $ — $ — Commercial real estate 2 — — One-to-four family 1 — — Acquisition, development, and construction — — — Other 20 — 1 Total nonaccrual loans with no related allowance $ 23 $ — $ 1 Nonaccrual loans with an allowance recorded: Multi-family $ 4 $ 1 $ — Commercial real estate 10 — — One-to-four family 1 — — Acquisition, development, and construction — — — Other — — — Total nonaccrual loans with an allowance recorded $ 15 $ 1 $ — Total nonaccrual loans: Multi-family $ 4 $ 1 $ — Commercial real estate 12 — — One-to-four family 2 — — Acquisition, development, and construction — — — Other 20 — 1 Total nonaccrual loans $ 38 $ 1 $ 1
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 Six Months Ended June 30, 2021 2020 (dollars in millions) Mortgage Other Total Mortgage Other Total Balance, beginning of period $ 176 $ 18 $ 194 $ 123 $ 25 $ 148 Impact of CECL adoption — — — — 2 2 Adjusted balance, beginning of period 176 18 194 123 27 150 Charge-offs ( 2 ) ( 3 ) ( 5 ) — ( 14 ) ( 14 ) Recoveries 2 10 12 — — — Provision for credit losses 1 — 1 34 4 38 Balance, end of period $ 177 $ 25 $ 202 $ 157 $ 17 $ 174

Borrowed Funds (Tables)

Borrowed Funds (Tables)	6 Months Ended
	Jun. 30, 2021
Summary of Borrowed Funds	The following table summarizes the Company’s borrowed funds at the dates indicated: (dollars in millions) June 30, December 31, Wholesale Borrowings: FHLB advances $ 14,003 $ 14,628 Repurchase agreements 800 800 Total wholesale borrowings $ 14,803 $ 15,428 Junior subordinated debentures 360 360 Subordinated notes 296 296 Total borrowed funds $ 15,459 $ 16,084
Summary of Repurchase Agreements Accounted for Secured Borrowings	The following table summarizes the Company’s repurchase agreements accounted for as secured borrowings at June 30, 2021: Remaining Contractual Maturity of the Agreements (dollars in millions) Overnight and Up to 30–90 Days Greater than GSE obligations $ — $ — $ — $ 800
Junior Subordinated Debentures Outstanding	The following junior subordinated debentures were outstanding at June 30, 2021: Issuer Interest Junior Capital Date of Stated First (dollars in millions) New York Community Capital Trust V SM Units) 6.00 % $ 146 $ 140 Nov. 4, 2002 Nov. 1, 2051 Nov. 4, 2007 (1) New York Community Capital Trust X 1.72 124 120 Dec. 14, 2006 Dec. 15, 2036 Dec. 15, 2011 (2) PennFed Capital Trust III 3.37 31 30 June 2, 2003 June 15, 2033 June 15, 2008 (2) New York Community Capital Trust XI 1.80 59 57 April 16, 2007 June 30, 2037 June 30, 2012 (2) Total junior subordinated debentures $ 360 $ 347 (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 June 30, 2021 and December 31, 2020 , the Company had $ 296 million of fixed-to-floating rate subordinated notes outstanding: Date of Original Issue Stated Interest (1) Original Issue (dollars in millions) Nov. 6, 2018 Nov. 6, 2028 5.90 % $ 300 (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)	6 Months Ended
	Jun. 30, 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 June 30, 2021 2020 (dollars in millions) Pension Post- Pension Post- Components of net periodic (credit) expense: (1) Interest cost $ 1 $ — $ 1 $ — Expected return on plan assets ( 4 ) — ( 4 ) — Amortization of prior-service liability — — — — Amortization of net actuarial loss 2 — 2 — Net periodic (credit) expense $ ( 1 ) $ — $ ( 1 ) $ — For the Six Months Ended June 30, 2021 2020 (dollars in millions) Pension Post- Pension Post- Components of net periodic (credit) expense: (1) Interest cost $ 2 $ — $ 2 $ — Expected return on plan assets ( 8 ) — ( 8 ) — Amortization of prior-service liability — — — — Amortization of net actuarial loss 4 — 4 — Net periodic (credit) expense $ ( 2 ) $ — $ ( 2 ) $ — (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)	6 Months Ended
	Jun. 30, 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 six months ended June 30, 2021: Number of Weighted Average Unvested at beginning of year 6,228,048 $ 12.43 Granted 3,045,949 11.16 Vested ( 2,015,702 ) 13.19 Canceled ( 172,900 ) 11.72 Unvested at end of period 7,085,395 11.68
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 six months ended June 30, 2021: Number of Performance Expected Outstanding at beginning of year 477,872 Granted 356,740 January 1, 2021 - December 31, 2023 March 31, 2024 Outstanding at end of period 834,612

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2021 and December 31, 2020, and that were included in the Company’s Consolidated Statements of Condition at those dates: Fair Value Measurements at June 30, 2021 (dollars in millions) Quoted Prices Significant Significant Netting Total Fair Assets: Mortgage-Related Debt Securities Available for Sale: GSE certificates $ — $ 1,060 $ — $ — $ 1,060 GSE CMOs — 1,933 — — 1,933 Total mortgage-related debt securities $ — $ 2,993 $ — $ — $ 2,993 Other Debt Securities Available for Sale: U. S. Treasury obligations $ 65 $ — $ — $ — $ 65 GSE debentures — 1,474 — — 1,474 Asset-backed securities — 509 — — 509 Municipal bonds — 25 — — 25 Corporate bonds — 890 — — 890 Foreign notes — 26 26 Capital trust notes — 95 — — 95 Total other debt securities $ 65 $ 3,019 $ — $ — $ 3,084 Total debt securities available for sale $ 65 $ 6,012 $ — $ — $ 6,077 Equity securities: Mutual funds — 16 — — 16 Total equity securities $ — $ 16 $ — $ — $ 16 Total securities $ 65 $ 6,028 $ — $ — $ 6,093 Fair Value Measurements at December 31, 2020 (dollars in millions) Quoted Prices Significant Significant Netting Total Fair Assets: Mortgage-Related Debt Securities Available for Sale: GSE certificates $ — $ 1,209 $ — $ — $ 1,209 GSE CMOs — 1,829 — — 1,829 Total mortgage-related debt securities $ — $ 3,038 $ — $ — $ 3,038 Other Debt Securities Available for Sale: U.S. Treasury obligations $ 65 $ — $ — $ — $ 65 GSE debentures — 1,158 — — 1,158 Asset-backed securities — 526 — — 526 Municipal bonds — 27 — — 27 Corporate bonds — 883 — — 883 Foreign notes — 26 26 Capital trust notes — 91 — — 91 Total other debt securities $ 65 $ 2,711 $ — $ — $ 2,776 Total debt securities available for sale $ 65 $ 5,749 $ — $ — $ 5,814 Equity securities: Preferred stock $ 15 $ — $ — $ — $ 15 Mutual funds — 16 — — 16 Total equity securities $ 15 $ 16 $ — $ — $ 31 Total securities $ 80 $ 5,765 $ — $ — $ 5,845
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 June 30, 2021 and December 31, 2020, and that were included in the Company’s Consolidated Statements of Condition at those dates: Fair Value Measurements at June 30, 2021 Using (dollars in millions) Quoted Prices in Significant Other Significant Total Fair Certain nonaccrual loans (1) $ — $ — $ 31 $ 31 Other assets (2) — — 11 11 Total $ — $ — $ 42 $ 42 (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 (dollars in millions) Quoted Prices in Significant Other Significant Total Fair Certain nonaccrual loans (1) $ — $ — $ 41 $ 41 Other assets (2) — — 6 6 Total $ — $ — $ 47 $ 47 (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 June 30, 2021 and December 31, 2020: June 30, 2021 Fair Value Measurement Using (dollars in millions) Carrying Value Estimated Quoted Prices Significant Significant Financial Assets: Cash and cash equivalents $ 2,086 $ 2,086 $ 2,086 $ — $ — FHLB stock (1) 686 686 — 686 — Loans, net 43,373 42,913 — — 42,913 Financial Liabilities: Deposits $ 34,177 $ 34,186 $ 25,228 (2) $ 8,958 (3) $ — Borrowed funds 15,459 16,243 — 16,243 — (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 (dollars in millions) Carrying Estimated Quoted Prices Significant Significant Financial Assets: Cash and cash equivalents $ 1,948 $ 1,948 $ 1,948 $ — $ — FHLB stock (1) 714 714 — 714 — Loans, net 42,807 42,376 — $ — 42,376 Financial Liabilities: Deposits $ 32,437 $ 32,466 $ 22,106 (2) $ 10,360 (3) $ — Borrowed funds 16,084 16,794 — 16,794 — (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)	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Components of Lease Income	The components of lease income were as follows: (dollars in millions) For the For the Six For the For the Six Interest income on lease financing (1) $ 14 $ 28 $ 14 $ 26 (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: (dollars in millions) June 30, December 31, Net investment in the lease - lease payments receivable $ 1,871 $ 1,771 Net investment in the lease - unguaranteed 78 80 Total lease payments $ 1,949 $ 1,851
Summary of Remaining Maturity of Undiscounted Lease Receivables	The following table presents the remaining maturity analysis of the undiscounted lease receivables as of June 30, 2021, as well as the reconciliation to the total amount of receivables recognized in the Consolidated Statements of Condition: (dollars in millions) June 30, 2021 $ 17 2022 53 2023 287 2024 308 2025 404 Thereafter 880 Total lease payments 1,949 Plus: deferred origination costs 28 Less: unearned income ( 103 ) Total lease finance receivables, net $ 1,874
Summary of Components of Lease Expense	The components of lease expense were as follows: (dollars in millions) For the For the Six For the For the Six Operating lease cost $ 7 $ 13 $ 7 $ 14 Sublease income — — — — Total lease cost $ 7 $ 13 $ 7 $ 14
Summary of Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to the leases for the following periods: (dollars in millions) For the For the Six For the For the Six Cash paid for amounts included in the measurement Operating cash flows from operating leases $ 7 $ 13 $ 7 $ 14
Summary of Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to the leases for the following periods: (in millions, except lease term and discount rate) June 30, December 31, Operating Leases: Operating lease right-of-use assets 256 $ 267 Operating lease liabilities 256 267 Weighted average remaining lease term 16 years 16 years Weighted average discount rate 3.07 % 3.12 %
Summary of Maturities of Lease Liabilities	Maturities of lease liabilities: June 30, (dollars in millions) 2021 $ 13 2022 26 2023 26 2024 25 2025 24 Thereafter 218 Total lease payments 332 Less: imputed interest ( 76 ) Total present value of lease liabilities $ 256

Derivative and Hedging Activi_2

Derivative and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2021
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Schedule of Cumulative Basis Adjustment for Fair Value Hedges	As of June 30, 2021, the following amounts were recorded on the balance sheet related to cumulative basis adjustment for fair value hedges: (dollars in millions) June 30, 2021 Line Item in the Consolidated Statements of Condition in which the Hedge Item is Included Carrying Cumulative Total loans and leases, net (1) $ 2,050 $ 50 (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 June 30, 2021 , the amortized cost basis of the closed portfolios used in these hedging relationships was $ 3.1 billion; the cumulative basis adjustments associated with these hedging relationships was $ 50 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: (dollars in millions) 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 $ 73 (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 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 June 30, 2021 and December 31, 2020: Notional Other Other Derivatives designated as fair value hedging Interest rate swap $ 2,000 $ — $ — Total derivatives designated as fair value hedging $ 2,000 $ — $ —
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. (dollars in millions) For the Three For the Six For the Three For the Six Derivative – interest rate swap: Interest income $ ( 2 ) $ 24 $ ( 9 ) $ ( 37 ) Hedged item – loans: Interest income $ 2 $ ( 24 ) $ 9 $ 37
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 June 30, 2021 and December 31, 2020: (dollars in millions) June 30, December 31, Notional amounts $ 2,250 $ 2,250 Cash collateral posted 30 46 Weighted average pay rates 1.27 % 1.27 % Weighted average receive rates 0.15 % 0.23 % Weighted average maturity 1.4 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 six months ended June 30, 2021 and 2020: (dollars in millions) For the Six For the Six Amount of gain (loss) recognized in AOCL $ 4 $ 57 Amount of gain (loss) reclassified from AOCL to interest expense 11 1

Organization, Basis of Presen_3

Organization, Basis of Presentation, and Impact of Recent Accounting Pronouncements - Additional Information (Details)	6 Months Ended
	Jun. 30, 2021Branch$ / 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)
New York Community Bank
Organization and Basis of Presentation [Line Items]
Number of branches | Branch	236
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	217
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 Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share [Abstract]
Net income available to common shareholders	$ 144	$ 97	$ 281	$ 189
Less: Dividends paid on and earnings allocated to participating securities	(3)	(1)	(4)	(3)
Earnings applicable to common stock	$ 141	$ 96	$ 277	$ 186
Weighted average common shares outstanding	464,092,947	461,933,533	463,695,136	463,463,751
Basic earnings per common share	$ 0.30	$ 0.21	$ 0.60	$ 0.40
Earnings applicable to common stock	$ 141	$ 96	$ 277	$ 186
Potential dilutive common shares	801,591	555,960	698,385	487,317
Total shares for diluted earnings per common share computation	464,894,538	462,489,493	464,393,521	463,951,068
Diluted earnings per common share and common share equivalents	$ 0.30	$ 0.21	$ 0.60	$ 0.40

Reclassifications Out of Accu_3

Reclassifications Out of Accumulated Other Comprehensive Loss - Reclassifications of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax (expense) benefit		$ 60	$ 35	$ 111	$ 50
Net income		152	105	297	205
Interest expense		$ 100	$ 157	205	$ 354
Reclassifications, net of tax	[1]			(11)
Past service liability
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassifications, before tax	[1],[2]
Actuarial losses
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassifications, before tax	[1],[2]			(4)
Amortization of defined benefit pension
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassifications, before tax	[1]			(4)
Tax benefit	[1]			1
Reclassifications, net of tax	[1]			(3)
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				3
Net income	[1]			(8)
Interest expense	[1]			$ (11)
[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 Millions	Jun. 30, 2021		Dec. 31, 2020
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 6,084	[1]	$ 5,744	[2]
Gross Unrealized Gain	92	[1]	131	[2]
Gross Unrealized Loss	83	[1]	30	[2]
Fair Value	6,093	[1]	5,845	[2]
Mortgage-Related Securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	2,977		2,942
Gross Unrealized Gain	57		99
Gross Unrealized Loss	41		3
Fair Value	2,993		3,038
Mortgage-Related Securities | GSE Certificates
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,037		1,155
Gross Unrealized Gain	32		54
Gross Unrealized Loss	9
Fair Value	1,060		1,209
Mortgage-Related Securities | GSE CMOs
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,940		1,787
Gross Unrealized Gain	25		45
Gross Unrealized Loss	32		3
Fair Value	1,933		1,829
Debt Securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	3,091		2,771
Gross Unrealized Gain	35		32
Gross Unrealized Loss	42		27
Fair Value	3,084		2,776
Debt Securities | U.S. Treasury Obligations
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	65		65
Fair Value	65		65
Debt Securities | GSE Debentures
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,502		1,158
Gross Unrealized Gain	2		4
Gross Unrealized Loss	30		4
Fair Value	1,474		1,158
Debt Securities | Asset-backed Securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	507	[3]	530	[4]
Gross Unrealized Gain	4	[3]	2	[4]
Gross Unrealized Loss	2	[3]	6	[4]
Fair Value	509	[3]	526	[4]
Debt Securities | Municipal Bonds
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	25		26
Gross Unrealized Gain			1
Fair Value	25		27
Debt Securities | Corporate Bonds
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	871		871
Gross Unrealized Gain	21		18
Gross Unrealized Loss	2		6
Fair Value	890		883
Debt Securities | Foreign Notes
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	25		25
Gross Unrealized Gain	1		1
Fair Value	26		26
Debt Securities | Capital Trust Notes
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	96		96
Gross Unrealized Gain	7		6
Gross Unrealized Loss	8		11
Fair Value	95		91
Mortgage Backed Securities And Other Securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	6,068		5,713
Gross Unrealized Gain	92		131
Gross Unrealized Loss	83		30
Fair Value	6,077		5,814
Equity Securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	16		31
Fair Value	16		31
Equity Securities | Preferred Stock
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost			15
Fair Value			15
Equity Securities | Mutual Funds
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	16		16
Fair Value	$ 16		$ 16
[1]	Excludes accrued interest receivable of $ 16 million included in other assets in the Consolidated Statements of Condition.
[2]	Excludes accrued interest receivable of $ 15 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	Jun. 30, 2021	Dec. 31, 2020
Available-for-sale Securities
Schedule of Available-for-sale Securities [Line Items]
Accrued interest receivable	$ 16	$ 15

Securities - Additional Informa

Securities - Additional Information (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)Investment		Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)Investment
Schedule of Investments [Line Items]
Federal Home Loan Bank stock, at cost | $	$ 686	[1]		$ 714	[2]
Net losses on equity securities | $	$ 0		$ 1
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	4			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) $ in Millions	6 Months Ended
	Jun. 30, 2020USD ($)
Investments Debt And Equity Securities [Abstract]
Gross proceeds	$ 442
Gross realized gains	2
Gross realized losses	$ 1

Securities - Summary of Amortiz

Securities - Summary of Amortized Cost of Available-for-Sale Securities by Contractual Maturity (Details) $ in Millions	Jun. 30, 2021USD ($)
Available-for-Sale Debt Securities:
Due within one year	$ 119
Due from one to five years	595
Due from five to ten years	1,200
Due after ten years	4,163
Total debt securities available for sale	6,077
Mortgage-Related Securities
Available-for-Sale Debt Securities:
Due from one to five years	242
Due from five to ten years	163
Due after ten years	2,572
Total debt securities available for sale	$ 2,977
Available-for-Sale Securities, Average Yield
Due from one to five years, Average Yield	3.19%
Due from five to ten years, Average Yield	2.47%
Due after ten years, Average Yield	1.93%
Total securities available for sale, Average Yield	2.06%
U.S. Government and GSE obligations
Available-for-Sale Debt Securities:
Due within one year	$ 69
Due from one to five years	22
Due from five to ten years	380
Due after ten years	1,096
Total debt securities available for sale	$ 1,567
Available-for-Sale Securities, Average Yield
Due within one year, Average Yield	0.17%
Due from one to five years, Average Yield	3.52%
Due from five to ten years, Average Yield	1.95%
Due after ten years, Average Yield	1.56%
Total securities available for sale, Average Yield	1.62%
State, County, and Municipal
Available-for-Sale Debt Securities:
Due from five to ten years	$ 19
Due after ten years	6
Total debt securities available for sale	$ 25
Available-for-Sale Securities, Average Yield
Due from five to ten years, Average Yield	3.52%	[1]
Due after ten years, Average Yield	3.33%	[1]
Total securities available for sale, Average Yield	3.48%	[1]
Other Debt Securities
Available-for-Sale Debt Securities:
Due within one year	$ 50	[2]
Due from one to five years	303	[2]
Due from five to ten years	625	[2]
Due after ten years	521	[2]
Total debt securities available for sale	$ 1,499	[2]
Available-for-Sale Securities, Average Yield
Due within one year, Average Yield	2.97%
Due from one to five years, Average Yield	1.74%
Due from five to ten years, Average Yield	2.24%
Due after ten years, Average Yield	1.21%
Total securities available for sale, Average Yield	1.81%
[1]	Not presented on a tax-equivalent basis.
[2]	Includes corporate bonds, capital trust notes, foreign 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 Millions	Jun. 30, 2021	Dec. 31, 2020
Schedule of Investments [Line Items]
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Fair Value	$ 14,223	$ 1,095
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Unrealized Loss	71	10
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Fair Value	513	726
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Unrealized Loss	12	20
Temporarily Impaired Available-for-Sale Securities, Total Fair Value	14,736	1,821
Temporarily Impaired Available-for-Sale Securities, Total Unrealized Loss	83	30
Debt Securities | U.S. Treasury Obligations
Schedule of Investments [Line Items]
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Fair Value	65
Temporarily Impaired Available-for-Sale Securities, Total Fair Value	65
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		59
Temporarily Impaired Available-for-Sale Securities, Total Fair Value		59
Debt Securities | GSE Certificates
Schedule of Investments [Line Items]
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Fair Value	336	442
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Unrealized Loss	9	3
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Fair Value		74
Temporarily Impaired Available-for-Sale Securities, Total Fair Value	336	516
Temporarily Impaired Available-for-Sale Securities, Total Unrealized Loss	9	3
Debt Securities | GSE CMOs
Schedule of Investments [Line Items]
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Fair Value	913	522
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Unrealized Loss	32	4
Temporarily Impaired Available-for-Sale Securities, Total Fair Value	913	522
Temporarily Impaired Available-for-Sale Securities, Total Unrealized Loss	32	4
Debt Securities | GSE Debentures
Schedule of Investments [Line Items]
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Fair Value	1,132
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Unrealized Loss	30
Temporarily Impaired Available-for-Sale Securities, Total Fair Value	1,132
Temporarily Impaired Available-for-Sale Securities, Total Unrealized Loss	30
Debt Securities | Asset-backed Securities
Schedule of Investments [Line Items]
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Fair Value	68
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Fair Value	146	364
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Unrealized Loss	2	6
Temporarily Impaired Available-for-Sale Securities, Total Fair Value	214	364
Temporarily Impaired Available-for-Sale Securities, Total Unrealized Loss	2	6
Debt Securities | Municipal Bonds
Schedule of Investments [Line Items]
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Fair Value	8	9
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Unrealized Loss	2
Temporarily Impaired Available-for-Sale Securities, Total Fair Value	8	9
Temporarily Impaired Available-for-Sale Securities, Total Unrealized Loss	2
Debt Securities | Corporate Bonds
Schedule of Investments [Line Items]
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Fair Value		72
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Unrealized Loss		3
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Fair Value	323	246
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Unrealized Loss		3
Temporarily Impaired Available-for-Sale Securities, Total Fair Value	323	318
Temporarily Impaired Available-for-Sale Securities, Total Unrealized Loss		6
Debt Securities | Capital Trust Notes
Schedule of Investments [Line Items]
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Fair Value	36	33
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Unrealized Loss	8	11
Temporarily Impaired Available-for-Sale Securities, Total Fair Value	36	33
Temporarily Impaired Available-for-Sale Securities, Total Unrealized Loss	8	$ 11
Equity Securities
Schedule of Investments [Line Items]
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Fair Value	11,709
Temporarily Impaired Available-for-Sale Securities, Total Fair Value	$ 11,709

Loans and Leases - Composition

Loans and Leases - Composition of Loan and Lease Portfolio (Details) - USD ($) $ in Millions		Jun. 30, 2021		Dec. 31, 2020		Jun. 30, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		$ 43,518		$ 42,822
Non-Covered Loans, Percentage		100.00%		100.00%
Net deferred loan origination costs		$ 57		$ 62
Allowance for credit losses loans and leases		(202)		(194)		$ (174)	$ (148)
Total loans and leases held for investment, net		43,373		42,690
Loans held for sale	[1]			117
Total loans and leases held for investment and held for sale, net		43,373		42,807
Multi-Family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		$ 32,540		$ 32,236
Non-Covered Loans, Percentage		74.77%		75.28%
Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		$ 6,813		$ 6,836
Non-Covered Loans, Percentage		15.66%		15.96%
One-to-Four Family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		$ 190		$ 236
Non-Covered Loans, Percentage		0.44%		0.55%
Acquisition, Development, and Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		$ 187		$ 90
Non-Covered Loans, Percentage		0.43%		0.21%
Mortgage Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans	[2]	$ 39,730		$ 39,398
Non-Covered Loans, Percentage	[2]	91.30%		92.00%
Allowance for credit losses loans and leases		$ (177)		$ (176)		$ (157)	$ (123)
Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans	[4]	$ 3,776	[3]	$ 3,417	[5]
Non-Covered Loans, Percentage	[4]	8.67%		7.98%
Commercial and Industrial | Other Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		$ 1,930		$ 1,682
Non-Covered Loans, Percentage		4.43%		3.93%
Lease Financing, Unearned Income
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		$ 1,846		$ 1,735
Non-Covered Loans, Percentage		4.24%		4.05%
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		$ 12		$ 7
Non-Covered Loans, Percentage		0.03%		0.02%
Total Other Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		$ 3,788		$ 3,424
Total Other Loans | Other Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans	[2]	$ 3,788		$ 3,424
Non-Covered Loans, Percentage	[2]	8.70%		8.00%
[1]	Includes deferred loan origination fees of $ 0 million and $ 2 million at June 30, 2021 and December 31, 2020, respectively
[2]	Excludes accrued interest receivable of $ 211 million and $ 219 million at June 30, 2021 and December 31, 2020, respectively, which is included in other assets in the Co
[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 June 30, 2021 and December 31, 2020 , and other C&I loans of $ 555 million and $ 393 million, respectively, at J
[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 Millions		6 Months Ended		12 Months Ended
		Jun. 30, 2021		Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		$ 43,518		$ 42,822
Deferred loan origination fees		0		2
Other Assets
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable		211		219
Lease Financing, Unearned Income
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unearned income		103		116
Non-Covered Loans		1,846		1,735
Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans	[2]	3,776	[1]	3,417	[3]
Commercial and Industrial | Other Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		1,930		1,682
Commercial and Industrial | Specialty Finance Loans | Other Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		3,200		3,000
Commercial and Industrial | Other Commercial and Industrial Loans | Other Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		$ 555		$ 393
[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 June 30, 2021 and December 31, 2020 , and other C&I loans of $ 555 million and $ 393 million, respectively, at J
[3]	Includes lease financing receivables, all of which were classified as Pass.

Loans and Leases - Additional I

Loans and Leases - Additional Information (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)Investment	Jun. 30, 2020USD ($)Investment	Dec. 31, 2020USD ($)
Financing Receivable, Recorded Investment [Line Items]
Outstanding loans to Executive officers, directors, principal shareholders, related interest and parties		$ 7		$ 38
Delinquent loans selectively extended to certain borrowers, rate reductions and/or extension of maturity dates	$ 16		$ 18
Commercial and Industrial
Financing Receivable, Recorded Investment [Line Items]
Delinquent loans selectively extended to certain borrowers, rate reductions and/or extension of maturity dates	1		$ 3
Number of financing receivable contracts modified as TDRs within previous 12 months, with payment default | Investment		18	40
Loan classified as non accrual TDRs	$ 6	$ 2	$ 6
Financing Receivable Troubled Debt Restructurings Rate Reductions
Financing Receivable, Recorded Investment [Line Items]
Delinquent loans selectively extended to certain borrowers, rate reductions and/or extension of maturity dates		$ 31

Loans and Leases - Quality of L

Loans and Leases - Quality of Loans Held for Investment (Details) - USD ($) $ in Millions		Jun. 30, 2021		Dec. 31, 2020		Jun. 30, 2020
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans Receivable		$ 43,518		$ 42,822
Multi-Family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans Receivable		32,540		32,236
Commercial Real Estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans Receivable		6,813		6,836
One-to-Four Family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans Receivable		190		236
Acquisition, Development, and Construction
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans Receivable		187		90
Commercial and Industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non- Accrual Loans		2				$ 6
Total Loans Receivable	[2]	3,776	[1]	3,417	[3]
Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans Receivable		12		7
Non-Covered Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans		67		54
Non- Accrual Loans		32		38
Current Loans		43,451		42,768
Total Loans Receivable		43,518		42,822
Non-Covered Loans | Financing Receivable, 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans		35		16
Non-Covered Loans | Multi-Family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans		18		8
Non- Accrual Loans		9		4
Current Loans		32,522		32,228
Total Loans Receivable		32,540		32,236
Non-Covered Loans | Multi-Family | Financing Receivable, 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans		9		4
Non-Covered Loans | Commercial Real Estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans		27		22
Non- Accrual Loans		12		12
Current Loans		6,786		6,814
Total Loans Receivable		6,813		6,836
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		15		10
Non-Covered Loans | One-to-Four Family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans		2		4
Non- Accrual Loans		2		2
Current Loans		188		232
Total Loans Receivable		190		236
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				2
Non-Covered Loans | Acquisition, Development, and Construction
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current Loans		187		90
Total Loans Receivable		187		90
Non-Covered Loans | Commercial and Industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans		11	[4],[5]	20	[6],[7]
Non- Accrual Loans	[6],[7]			20
Current Loans		3,765	[4],[5]	3,397	[6],[7]
Total Loans Receivable		3,776	[4],[5]	3,417	[6],[7]
Non-Covered Loans | Commercial and Industrial | Financing Receivable, 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	[4],[5]	11
Non-Covered Loans | Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans		9
Non- Accrual Loans		9
Current Loans		3		7
Total Loans Receivable		$ 12		$ 7
[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 June 30, 2021 and December 31, 2020 , and other C&I loans of $ 555 million and $ 393 million, respectively, at J
[3]	Includes lease financing receivables, all of which were classified as Pass.
[4]	Includes $ 9 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 $ 19 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	Jun. 30, 2021	Dec. 31, 2020
Loans 90 Days Or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	$ 9	$ 19
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 Millions		Jun. 30, 2021		Dec. 31, 2020
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		$ 43,518		$ 42,822
Multi-Family
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		32,540		32,236
Multi-Family | Pass
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		31,044		31,220
Multi-Family | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		879		567
Multi-Family | Substandard
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		617		449
Commercial Real Estate
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		6,813		6,836
Commercial Real Estate | Pass
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		5,906		5,884
Commercial Real Estate | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		682		637
Commercial Real Estate | Substandard
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		225		315
One-to-Four Family
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		190		236
One-to-Four Family | Pass
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		177		222
One-to-Four Family | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		5		12
One-to-Four Family | Substandard
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		8		2
Acquisition, Development, and Construction
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		187		90
Acquisition, Development, and Construction | Pass
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		176		68
Acquisition, Development, and Construction | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		11		22
Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans	[1]	39,730		39,398
Mortgage Receivable | Pass
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		37,303		37,394
Mortgage Receivable | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		1,577		1,238
Mortgage Receivable | Substandard
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		850		766
Commercial and Industrial
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans	[3]	3,776	[2]	3,417	[4]
Commercial and Industrial | Pass
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		3,719	[2]	3,388	[4]
Commercial and Industrial | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		2	[2]	3	[4]
Commercial and Industrial | Substandard
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		55	[2]	26	[4]
Other
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		12		7
Other | Pass
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		12		7
Total Other Loans
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		3,788		3,424
Total Other Loans | Pass
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		3,731		3,395
Total Other Loans | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		2		3
Total Other Loans | Substandard
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		$ 55		$ 26
[1]	Excludes accrued interest receivable of $ 211 million and $ 219 million at June 30, 2021 and December 31, 2020, respectively, which is included in other assets in the Co
[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 June 30, 2021 and December 31, 2020 , and other C&I loans of $ 555 million and $ 393 million, respectively, at J
[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 Millions	Jun. 30, 2021USD ($)
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	$ 43,575
Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	39,758
Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	3,817
2021
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	4,909
2021 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	4,297
2021 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	612
2020
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	10,506
2020 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	9,573
2020 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	933
2019
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	7,136
2019 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	6,501
2019 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	635
2018
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	5,866
2018 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	5,725
2018 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	141
2017
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	4,080
2017 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	3,888
2017 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	192
Prior to 2017
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	9,984
Prior to 2017 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	9,753
Prior to 2017 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	231
Revolving Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	1,094
Revolving Loans | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	21
Revolving Loans | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	1,073
Pass | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	37,330
Pass | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	3,760
Pass | 2021 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	4,297
Pass | 2021 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	612
Pass | 2020 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	9,536
Pass | 2020 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	931
Pass | 2019 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	6,159
Pass | 2019 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	632
Pass | 2018 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	5,305
Pass | 2018 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	139
Pass | 2017
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	3,630
Pass | 2017 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	184
Pass | Prior to 2017 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	8,383
Pass | Prior to 2017 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	217
Pass | Revolving Loans | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	20
Pass | Revolving Loans | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	1,045
Special Mention | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	1,578
Special Mention | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	2
Special Mention | 2020 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	30
Special Mention | 2019 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	272
Special Mention | 2018 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	194
Special Mention | 2017 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	138
Special Mention | Prior to 2017 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	944
Special Mention | Revolving Loans | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	2
Substandard | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	850
Substandard | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	55
Substandard | 2020 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	7
Substandard | 2020 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	2
Substandard | 2019 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	70
Substandard | 2019 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	3
Substandard | 2018 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	226
Substandard | 2018 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	2
Substandard | 2017 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	120
Substandard | 2017 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	8
Substandard | Prior to 2017 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	426
Substandard | Prior to 2017 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	14
Substandard | Revolving Loans | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	1
Substandard | Revolving Loans | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	$ 26

Loans and Leases - Summary of C

Loans and Leases - Summary of Collateral-Dependent Loans Held for Investment by Collateral Type (Details) $ in Millions	Jun. 30, 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	$ 33
Assets received as collateral	33
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	7
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	26
Other
Disclosure of Summary of Collateral Dependent Loans Held for Investment by Collateral Type [Line Items]
Loans and leases receivable, collateral for secured borrowings	15
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	$ 15

Loans and Leases - Information

Loans and Leases - Information Regarding Troubled Debt Restructurings (Details) - Non-Covered Loans - USD ($) $ in Millions		Jun. 30, 2021	Dec. 31, 2020
Financing Receivable Modifications [Line Items]
Troubled debt restructurings		$ 31	$ 34
Multi-Family
Financing Receivable Modifications [Line Items]
Troubled debt restructurings		7
Commercial Real Estate
Financing Receivable Modifications [Line Items]
Troubled debt restructurings		15	15
Commercial and Industrial
Financing Receivable Modifications [Line Items]
Troubled debt restructurings	[1]	9	19
Accruing
Financing Receivable Modifications [Line Items]
Troubled debt restructurings		15	15
Accruing | Commercial Real Estate
Financing Receivable Modifications [Line Items]
Troubled debt restructurings		15	15
Non-Accrual
Financing Receivable Modifications [Line Items]
Troubled debt restructurings		16	19
Non-Accrual | Multi-Family
Financing Receivable Modifications [Line Items]
Troubled debt restructurings		7
Non-Accrual | Commercial and Industrial
Financing Receivable Modifications [Line Items]
Troubled debt restructurings	[1]	$ 9	$ 19
[1]	Includes $ 9 million and $ 18 million of taxi medallion-related loans at June 30, 2021 and December 31, 2020 , respectively

Loans and Leases - Informatio_2

Loans and Leases - Information Regarding Troubled Debt Restructurings (Parenthetical) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Taxi Medallion Loans
Financing Receivable Modifications [Line Items]
Troubled debt restructurings	$ 9	$ 18

Loans and Leases - Summary of F

Loans and Leases - Summary of Financial Effects of Troubled Debt Restructurings (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2020USD ($)Investment	Jun. 30, 2021USD ($)Investment	Jun. 30, 2020USD ($)Investment
Financing Receivable Modifications [Line Items]
Number of loans classified as a non-accrual TDRs | Investment	12		20
Pre-Modification Recorded Investment	$ 17		$ 19
Post-Modification Recorded Investment	$ 16		$ 18
Weighted Average Interest Rate, Pre-Modification	7.28%		6.89%
Weighted Average Interest Rate, Post-Modification	3.45%		3.42%
Trouble debt restructuring, charge-off amount	$ 1		$ 1
Commercial and Industrial
Financing Receivable Modifications [Line Items]
Number of loans classified as a non-accrual TDRs | Investment	11		19
Pre-Modification Recorded Investment	$ 2		$ 4
Post-Modification Recorded Investment	$ 1		$ 3
Weighted Average Interest Rate, Pre-Modification	2.92%		3.08%
Weighted Average Interest Rate, Post-Modification	2.92%		3.03%
Trouble debt restructuring, charge-off amount	$ 1		$ 1
Commercial Real Estate
Financing Receivable Modifications [Line Items]
Number of loans classified as a non-accrual TDRs | Investment	1		1
Pre-Modification Recorded Investment	$ 15		$ 15
Post-Modification Recorded Investment	$ 15		$ 15
Weighted Average Interest Rate, Pre-Modification	8.00%		8.00%
Weighted Average Interest Rate, Post-Modification	3.50%		3.50%
Multi-Family
Financing Receivable Modifications [Line Items]
Number of loans classified as a non-accrual TDRs | Investment		1
Pre-Modification Recorded Investment		$ 7
Post-Modification Recorded Investment		$ 7
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 Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Valuation Allowance [Line Items]
Balance, beginning of period	$ 194	$ 148
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
Charge-offs	$ (5)	(14)
Recoveries	12
Balance, end of period	202	174
Cumulative Effect, Period of Adoption, Adjustment
Valuation Allowance [Line Items]
Balance, beginning of period		$ 2
Accounting Standards Update [Extensible List]		us-gaap:AccountingStandardsUpdate201613Member
Adjusted Balance
Valuation Allowance [Line Items]
Balance, beginning of period	194	$ 150
Mortgage Receivable
Valuation Allowance [Line Items]
Balance, beginning of period	176	123
Charge-offs	(2)
Recoveries	2
Balance, end of period	177	157
Mortgage Receivable | Adjusted Balance
Valuation Allowance [Line Items]
Balance, beginning of period	176	123
Other Loans
Valuation Allowance [Line Items]
Balance, beginning of period	18	$ 25
Accounting Standards Update [Extensible List]		us-gaap:AccountingStandardsUpdate201613Member
Charge-offs	(3)	$ (14)
Recoveries	10
Balance, end of period	25	17
Other Loans | Cumulative Effect, Period of Adoption, Adjustment
Valuation Allowance [Line Items]
Balance, beginning of period		2
Other Loans | Adjusted Balance
Valuation Allowance [Line Items]
Balance, beginning of period	18	27
Non-Covered Loans
Valuation Allowance [Line Items]
Provision for credit losses	1	38
Non-Covered Loans | Mortgage Receivable
Valuation Allowance [Line Items]
Provision for credit losses	$ 1	34
Non-Covered Loans | Other Loans
Valuation Allowance [Line Items]
Provision for credit losses		$ 4

Allowance for Credit Losses o_4

Allowance for Credit Losses on Loans and Leases - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Valuation Allowance [Line Items]
Allowance for credit losses on loans and leases	$ 202	$ 174	$ 202	$ 174	$ 194	$ 148
Increase in allowance for credit losses on loans and leases			$ 12
COVID-19 pandemic, impacts			For the six months ended June 30, 2021, the allowance for credit losses on loan and leases increased primarily as a result of growth across segments of the loan portfolio, and by macroeconomic factors surrounding the COVID-19 pandemic, specifically the resultant estimated decreases in property values in the New York City area. The forecast includes a temporarily significant increase in Gross Domestic Product (“GDP”) to +6.9% in the second half of 2021 as the economy begins to recover from the systemic disruptions of the COVID-19 pandemic. Unemployment continues to subside from the historic shock of 2020, but is not forecasted to return to pre-pandemic levels around 3.5% until 2023. Interest rates are forecasted to begin to rise modestly and 10 Year-Baa spread widens slightly beginning in 2022 and levels off at 2.6% through 2023. In addition to these quantitative inputs, several qualitative factors were considered in increasing our allowance for loan and lease credit losses, including the risk that the economic decline proves to be more severe and/or prolonged than our baseline forecast.
Net recoveries	4	$ (18)	$ 0	$ (38)
Unfunded Loan Commitment
Valuation Allowance [Line Items]
Allowance for credit losses	11		11
CARES Act
Valuation Allowance [Line Items]
Allowance for credit losses on loans and leases	$ 202		202
Increase in allowance for credit losses on loans and leases			8
Net recoveries			$ 7

Allowance for Credit Losses o_5

Allowance for Credit Losses on Loans and Leases - Summary of Additional Information about Nonaccrual Loans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Jun. 30, 2021
Financing Receivable, Impaired [Line Items]
Impaired loans with no related allowance, Recorded Investment	$ 23	$ 27
Impaired loans with no related allowance, Interest Income Recognized	1
Impaired loans with an allowance recorded, Recorded Investment	15	5
Impaired loans with an allowance recorded, Related Allowance	1	1
Total impaired loans, Recorded Investment	38	32
Total impaired loans, Interest Income Recognized	1
Multi-Family
Financing Receivable, Impaired [Line Items]
Impaired loans with no related allowance, Recorded Investment		7
Impaired loans with an allowance recorded, Recorded Investment	4	2
Impaired loans with an allowance recorded, Related Allowance	1	1
Total impaired loans, Recorded Investment	4	9
Commercial Real Estate
Financing Receivable, Impaired [Line Items]
Impaired loans with no related allowance, Recorded Investment	2	11
Impaired loans with an allowance recorded, Recorded Investment	10	1
Total impaired loans, Recorded Investment	12	12
One-to-Four Family
Financing Receivable, Impaired [Line Items]
Impaired loans with no related allowance, Recorded Investment	1
Impaired loans with an allowance recorded, Recorded Investment	1	2
Total impaired loans, Recorded Investment	2	2
Other Loans
Financing Receivable, Impaired [Line Items]
Impaired loans with no related allowance, Recorded Investment	20	9
Impaired loans with no related allowance, Interest Income Recognized	1
Total impaired loans, Recorded Investment	20	$ 9
Total impaired loans, Interest Income Recognized	$ 1

Borrowed Funds - Summary of Bor

Borrowed Funds - Summary of Borrowed Funds (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
FHLB advances	$ 14,003	$ 14,628
Repurchase agreements	800	800
Total wholesale borrowings	14,803	15,428
Junior subordinated debentures	360	360
Subordinated notes	296	296
Total borrowed funds	$ 15,459	$ 16,084

Borrowed Funds - Summary of Rep

Borrowed Funds - Summary of Repurchase Agreements Accounted for Secured Borrowings (Details) $ in Millions	Jun. 30, 2021USD ($)
Greater than 90 Days | GSE obligations
Debt Outstanding [Line Items]
Remaining Contractual Maturity of the Agreements	$ 800

Borrowed Funds - Additional Inf

Borrowed Funds - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
Subordinated notes outstanding	$ 296	$ 296
Junior subordinated debentures	$ 360	$ 360

Borrowed Funds - Summary of Fix

Borrowed Funds - Summary of Fixed-To-Floating Rate Subordinated Notes Outstanding (Details) - Subordinated Debt $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)
Debt Outstanding [Line Items]
Stated Maturity	Nov. 6, 2028
Interest rate of subordinated note	5.90%
Principal amount of Subordinated Notes	$ 300

Borrowed Funds - Summary of F_2

Borrowed Funds - Summary of Fixed-To-Floating Rate Subordinated Notes Outstanding (Parenthetical) (Details) - Subordinated Debt	6 Months Ended
	Jun. 30, 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 Millions		6 Months Ended
		Jun. 30, 2021	Dec. 31, 2020
Subordinated Borrowing [Line Items]
Junior subordinated debentures		$ 360	$ 360
Capital Securities Amount Outstanding		$ 347
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
Capital Securities Amount Outstanding		$ 140
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		1.72%
Junior subordinated debentures		$ 124
Capital Securities Amount Outstanding		$ 120
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		3.37%
Junior subordinated debentures		$ 31
Capital Securities Amount Outstanding		$ 30
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		1.80%
Junior subordinated debentures		$ 59
Capital Securities Amount Outstanding		$ 57
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) - Pension Benefits - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Components of net periodic (credit) expense:
Interest cost	[1]	$ 1	$ 1	$ 2	$ 2
Expected return on plan assets	[1]	(4)	(4)	(8)	(8)
Amortization of net actuarial loss	[1]	2	2	4	4
Net periodic (credit) expense	[1]	$ (1)	$ (1)	$ (2)	$ (2)
[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) $ in Millions	Jun. 30, 2021USD ($)
Post- Retirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Expected contribution to defined benefit plan for the fiscal year	$ 1
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 Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant	8,505,303		8,505,303
Shares granted			3,045,949
Shares granted, weighted average grant date fair value			$ 11.16
Four Zero One K Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employer Discretionary Contribution Amount	$ 1	$ 3	$ 1	$ 3
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted			3,045,949	2,390,345
Shares granted, weighted average grant date fair value			$ 11.16	$ 11.64
Compensation and benefits expense	7	7	$ 15	$ 16
Unrecognized compensation cost relating to unvested restricted stock	70		$ 70
Unrecognized compensation cost relating to unvested restricted stock, recognition period (in years)			3 years 4 months 24 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			356,740
Compensation and benefits expense	1	$ 1	$ 1	$ 1
Unrecognized compensation cost relating to unvested restricted stock	$ 6		$ 6
Unrecognized compensation cost relating to unvested restricted stock, recognition period (in years)			1 year 10 months 24 days

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Activity for Restricted Stock Awards (Details) - $ / shares	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Number of Shares
Granted	3,045,949
Weighted Average Grant Date Fair Value
Granted	$ 11.16
Restricted Stock
Number of Shares
Unvested at beginning of year	6,228,048
Granted	3,045,949	2,390,345
Vested	(2,015,702)
Canceled	(172,900)
Unvested at end of year	7,085,395
Weighted Average Grant Date Fair Value
Unvested at beginning of year	$ 12.43
Granted	11.16	$ 11.64
Vested	13.19
Canceled	11.72
Unvested at end of year	$ 11.68

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Activity for Performance-Based Restricted Stock Units (Details)	6 Months Ended
	Jun. 30, 2021shares
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested [Roll Forward]
Granted	3,045,949
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	356,740
Unvested at end of year	834,612
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 Millions	Jun. 30, 2021		Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 6,093	[1]	$ 5,845	[2]
Total equity securities	16		32
Total securities	6,093		5,845
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	6,077		5,814
Total equity securities	16		31
Total securities	6,093		5,845
Fair Value, Measurements, Recurring | Preferred Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total equity securities			15
Fair Value, Measurements, Recurring | Mutual Fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total equity securities	16		16
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	65		65
Total equity securities			15
Total securities	65		80
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
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	6,012		5,749
Total equity securities	16		16
Total securities	6,028		5,765
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	16		16
Fair Value, Measurements, Recurring | Mortgage-Related Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	2,993		3,038
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	1,060		1,209
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	1,933		1,829
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	25
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
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
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			1,829
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	2,993
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	1,060
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	1,933
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	95
Fair Value, Measurements, Recurring | Other Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	3,084		2,776
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	65		65
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	1,474		1,158
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	509		526
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			27
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	890		883
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	26		26
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	95		91
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	65		65
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	65		65
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	3,019		2,711
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
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	1,474
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	509		526
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	25		27
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	890		883
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	$ 26		26
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			$ 91
[1]	Excludes accrued interest receivable of $ 16 million included in other assets in the Consolidated Statements of Condition.
[2]	Excludes accrued interest receivable of $ 15 million included in other assets in the Consolidated Statements of Condition.

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 Millions	Jun. 30, 2021		Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Certain nonaccrual loans	$ 31	[1]	$ 41	[2]
Other assets	11	[3]	6	[4]
Total	42		47
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Certain nonaccrual loans	31	[1]	41	[2]
Other assets	11	[3]	6	[4]
Total	$ 42		$ 47
[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 Millions	Jun. 30, 2021		Dec. 31, 2020		Dec. 31, 2019
Financial Assets:
Cash and cash equivalents, Carrying Value	$ 2,086		$ 1,948		$ 742
Cash and cash equivalents, Estimated Fair Value	2,086		1,948
FHLB stock, Carrying Value	686	[1]	714	[2]
FHLB stock, Estimated Fair Value	686	[1]	714	[2]
Loans, net, Carrying Value	43,373		42,807
Loans, net, Estimated Fair Value	42,913		42,376
Financial Liabilities:
Deposits, Carrying Value	34,177		32,437
Deposits, Estimated Fair Value	34,186		32,466
Borrowed funds, Carrying Value	15,459		16,084
Borrowed funds, Estimated Fair Value	16,243		16,794
Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial Assets:
Cash and cash equivalents, Carrying Value	2,086		1,948
Financial Liabilities:
Deposits, Carrying Value	25,228	[3]	22,106	[4]
Significant Other Observable Inputs (Level 2)
Financial Assets:
FHLB stock, Carrying Value	686	[1]	714	[2]
Financial Liabilities:
Deposits, Carrying Value	8,958	[5]	10,360	[6]
Borrowed funds, Carrying Value	16,243		16,794
Significant Unobservable Inputs (Level 3)
Financial Assets:
Loans, net, Carrying Value	$ 42,913		$ 42,376
[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 ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Residual value of leased asset	$ 63		$ 63		$ 71
Carrying value of investment lease	1,900		1,900		$ 1,900
Amortization of ROU assets	$ 5	$ 5	$ 10	$ 9
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		24 months
Operating lease, remaining lease term	1 year		1 year
Maximum
Lessor, operating lease, term of contract	120 months		120 months
Operating lease, remaining lease term	25 years		25 years

Leases - Components of Lease In

Leases - Components of Lease Income (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Interest income on lease financing	[1]	$ 14	$ 14	$ 28	$ 26
[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 Millions	Jun. 30, 2021	Dec. 31, 2020
Leases [Abstract]
Net investment in the lease - lease payments receivable	$ 1,871	$ 1,771
Net investment in the lease - unguaranteed residual assets	78	80
Total lease payments	$ 1,949	$ 1,851

Leases - Summary of Remaining M

Leases - Summary of Remaining Maturity of Undiscounted Lease Receivables (Details) $ in Millions	Jun. 30, 2021USD ($)
Leases [Abstract]
2021	$ 17
2022	53
2023	287
2024	308
2025	404
Thereafter	880
Total lease payments	1,949
Plus: deferred origination costs	28
Less: unearned income	(103)
Total lease finance receivables, net	$ 1,874

Leases - Summary of Components

Leases - Summary of Components of Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Operating lease cost	$ 7	$ 7	$ 13	$ 14
Total lease cost	$ 7	$ 7	$ 13	$ 14

Leases - Summary of Supplementa

Leases - Summary of Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Operating cash flows from operating leases	$ 7	$ 7	$ 13	$ 14

Leases - Summary of Supplemen_2

Leases - Summary of Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease right-of-use assets	$ 256	$ 267
Operating lease liabilities	$ 256	$ 267
Weighted average remaining lease term	16 years	16 years
Weighted average discount rate%	3.07%	3.12%

Leases - Summary of Maturities

Leases - Summary of Maturities of Lease Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Leases [Abstract]
2021	$ 13
2022	26
2023	26
2024	25
2025	24
Thereafter	218
Total lease payments	332
Less: imputed interest	(76)
Total present value of lease liabilities	$ 256	$ 267

Derivative and Hedging Activi_3

Derivative and Hedging Activities - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Derivative [Line Items]
Interest income	$ 331	$ 266	$ 649	$ 510
Gain (losses) on interest rate derivatives designated as cash flow hedge			11
Interest rate cash flow hedge gain (loss) to be reclassified during next 12 months, net	25		25
Interest Rate Swap | Cash Flow Hedging
Derivative [Line Items]
Derivative, notional amount	2,250		2,250		$ 2,250
Designated as Hedging Instrument
Derivative [Line Items]
Derivative, notional amount	2,000		2,000		$ 2,000
Interest income	12	$ 8	24	$ 12
Designated as Hedging Instrument | Interest Rate Swap
Derivative [Line Items]
Derivative, notional amount	2,000		2,000
LCH | Designated as Hedging Instrument | Interest Rate Swap
Derivative [Line Items]
Derivative, notional amount	$ 4,300		$ 4,300

Derivative and Hedging Activi_4

Derivative and Hedging Activities - Schedule of Cumulative Basis Adjustment for Fair Value Hedges (Details) - Loans and Leases - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Derivative [Line Items]
Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of the Hedged Assets	$ 50	$ 73
Fair Value Hedging
Derivative [Line Items]
Carrying Amount of the Hedged Assets	2,050	2,073
Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of the Hedged Assets	$ 50	$ 73

Derivative and Hedging Activi_5

Derivative and Hedging Activities - Schedule of Cumulative Basis Adjustment for Fair Value Hedges (Parenthetical) (Details) - USD ($) $ in Millions	Jun. 30, 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	3,100	3,600
Cumulative basis adjustment associated with hedging relationships	$ 50	$ 73

Derivative and Hedging Activi_6

Derivative and Hedging Activities - Information Regarding Derivative Financial Instruments (Details) - Designated as Hedging Instrument - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Derivative [Line Items]
Amount of designated hedged items	$ 2,000	$ 2,000
Fair Value Hedging
Derivative [Line Items]
Amount of designated hedged items	2,000
Interest Rate Swap
Derivative [Line Items]
Amount of designated hedged items	2,000
Interest Rate Swap | Fair Value Hedging
Derivative [Line Items]
Amount of designated hedged items	$ 2,000

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 Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Interest Rate Swap
Derivative [Line Items]
Interest income	$ (2)	$ (9)	$ 24	$ (37)
Hedged Item - Loans
Derivative [Line Items]
Interest income	$ 2	$ 9	$ (24)	$ 37

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 Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Derivative [Line Items]
Notional amounts	$ 2,250	$ 2,250
Cash collateral posted	$ 30	$ 46
Weighted average pay rates	1.27%	1.27%
Weighted average receive rates	0.15%	0.23%
Weighted average maturity	1 year 4 months 24 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 Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Amount of gain (loss) recognized in AOCL	$ 4	$ 57
Amount of gain (loss) reclassified from AOCL to interest expense	$ 11	$ 1

Pending Acquisition - Additiona

Pending Acquisition - Additional Information (Details) $ / shares in Units, $ in Billions	Apr. 26, 2021USD ($)StateOfficeBranch$ / shares	Jun. 30, 2021
Business Acquisition [Line Items]
Ownership percent expected to be owned	68.00%
Flagstar [Member]
Business Acquisition [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 Merger, 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 | $	$ 85
Number of traditional branches | Branch	400
Number of retail home lending offices | Office	86
Number of state footprint | State	28
Ownership percent expected to be owned	32.00%
Number of states of traditional branches | State	9