Flagstar Financial (FLG) 10-Q 9 May 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2022	May 02, 2022
Document Information [Line Items]
Amendment Flag	false
Document Type	10-Q
Document Transition Report	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Document Period End Date	Mar. 31, 2022
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		467,038,424
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	Mar. 31, 2022		Dec. 31, 2021
ASSETS:
Cash, cash equivalents and due from banks	$ 2,900		$ 2,211
Securities:
Debt securities available-for-sale ($1,016 and $1,278 pledged at March 31, 2022 and December 31, 2021, respectively)	5,612		5,780
Equity investments with readily determinable fair values, at fair value	15		16
Total securities	5,627	[1]	5,796	[2]
Loans and leases held for investment, net of deferred loan fees and costs	46,758		45,738
Less: Allowance for credit losses on loans and leases	(197)		(199)
Total loans and leases, net	46,561		45,539
Federal Home Loan Bank stock, at cost	679	[3]	734	[4]
Premises and equipment, net	266		270
Operating lease right-of-use assets	243		249
Goodwill	2,426		2,426
Bank-owned life insurance	1,186		1,184
Other real estate owned and other repossessed assets	7		8
Other assets	1,110		1,110
Total assets	61,005		59,527
Deposits:
Interest-bearing checking and money market accounts	16,360		13,209
Savings accounts	9,272		8,892
Certificates of deposit	7,889		8,424
Non-interest-bearing accounts	4,433		4,534
Total deposits	37,954		35,059
Wholesale borrowings:
Federal Home Loan Bank advances	13,880		15,105
Repurchase agreements	800		800
Total wholesale borrowings	14,680		15,905
Junior subordinated debentures	361		361
Subordinated notes	296		296
Total borrowed funds	15,337		16,562
Operating lease liabilities	243		249
Other liabilities	562		613
Total liabilities	54,096		52,483
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 467,024,144 and 465,015,643 shares outstanding, respectively)	5		5
Paid-in capital in excess of par	6,107		6,126
Retained earnings	809		741
Treasury stock, at cost (23,414,926 and 25,423,427 shares, respectively)	(231)		(246)
Accumulated other comprehensive loss, net of tax:
Net unrealized loss on securities available for sale, net of tax of $99 and $17, respectively	(260)		(45)
Net unrealized loss on pension and post-retirement obligations, net of tax of $12 and $12 respectively	(31)		(31)
Net unrealized gain (loss) on cash flow hedges, net of tax of $(3) and $3, respectively	7		9
Total accumulated other comprehensive loss, net of tax	(284)		(85)
Total stockholders’ equity	6,909		7,044
Total liabilities and stockholders’ equity	$ 61,005		$ 59,527
[1]	Excludes accrued interest receivable of $ 15 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]	Carrying value and estimated fair value are at cost.
[4]	Carrying value and estimated fair value are at cost.

Consolidated Statements of Co_2

Consolidated Statements of Condition (Parenthetical) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Securities Available-for-sale, pledged	$ 1,016	$ 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	467,024,144	465,015,643
Treasury stock, shares	23,414,926	25,423,427
Net unrealized loss on securities available for sale, tax	$ 99	$ 17
Net unrealized loss on pension and post-retirement obligations, tax	12	12
Cash flow hedges tax component	$ (3)	$ 3

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
INTEREST INCOME:
Loans and leases	$ 393	$ 383
Securities and money market investments	36	40
Total interest income	429	423
INTEREST EXPENSE:
Interest-bearing checking and money market accounts	8	9
Savings accounts	8	6
Certificates of deposit	11	18
Borrowed funds	70	72
Total interest expense	97	105
Net interest income	332	318
Provision for credit losses	(2)	4
Net interest income after provision for credit losses	334	314
NON-INTEREST INCOME:
Fee income	6	5
Bank-owned life insurance	7	7
Net loss on securities	(1)
Other	2	2
Total non-interest income	14	14
Operating expenses:
Compensation and benefits	80	78
Occupancy and equipment	23	21
General and administrative	31	33
Total operating expenses	134	132
Merger-related expenses	7
Total non-interest expense	141	132
Income before income taxes	207	196
Income tax expense	52	51
Net income	155	145
Preferred stock dividends	8	8
Net income available to common shareholders	$ 147	$ 137
Basic earnings per common share	$ 0.31	$ 0.29
Diluted earnings per common share	$ 0.31	$ 0.29
Net income	$ 155	$ 145
Other comprehensive income (loss), net of tax:
Change in net unrealized gain (loss) on securities available-for-sale, net of tax of $82; and $41, respectively	(215)	(108)
Change in pension and post-retirement obligations, net of tax of $0; and $(1), respectively		(3)
Change in net unrealized (loss) gain on cash flow hedges, net of tax of $(4); and $(1), respectively	12	3
Reclassification adjustment for defined benefit pension plan net of tax of $0; and $0, respectively		1
Reclassification adjustment for net gain on cash flow hedges included in net income, net of tax $(2); and $(2), respectively	4	4
Total other comprehensive income (loss), net of tax	(199)	(97)
Total comprehensive income, net of tax	$ (44)	$ 48

Consolidated Statements of In_2

Consolidated Statements of Income and Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Change in net unrealized gain (loss) on securities available for sale, tax	$ 82	$ 41
Change in pension and post-retirement obligations, tax	0	(1)
Cash flow hedge, gain (loss), reclassification, tax	(4)	(1)
Reclassification adjustment for sales of available-for-sale securities, tax	0	0
Reclassification adjustment for defined benefit pension plan, net of tax	0	0
Cash flow hedges tax component	$ (2)	$ (2)

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Millions	Total	Common Stock (Par Value: $0.01)	Preferred Stock (Par Value: $0.01)	Paid-in Capital in Excess of Par	Retained Earnings	Treasury Stock, at Cost	Accumulated Other Comprehensive Loss, Net of Tax
Balance at Dec. 31, 2020	$ 6,842	$ 5	$ 503	$ 6,123	$ 494	$ (258)	$ (25)
Balance, shares at Dec. 31, 2020		463,901,808
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	8			8
Net income	145				145
Dividends paid on common stock	(79)				(79)
Dividends paid on preferred stock	(8)				(8)
Purchase of common stock	(16)					(16)
Purchase of common stock, shares		(1,343,366)
Other comprehensive income (loss), net of tax	(97)						(97)
Balance at Mar. 31, 2021	6,795	$ 5	503	6,103	552	(246)	(122)
Balance, shares at Mar. 31, 2021		465,074,384
Balance at Dec. 31, 2021	7,044	$ 5	503	6,126	741	(246)	(85)
Balance, shares at Dec. 31, 2021		465,015,643
Shares issued for restricted stock, net of forfeitures				(26)		26
Shares issued for restricted stock, net of forfeitures, shares		2,910,435
Compensation expense related to restricted stock awards	7			7
Net income	155				155
Dividends paid on common stock	(79)				(79)
Dividends paid on preferred stock	(8)				(8)
Purchase of common stock	(11)					(11)
Purchase of common stock, shares		901,934
Other comprehensive income (loss), net of tax	(199)						(199)
Balance at Mar. 31, 2022	$ 6,909	$ 5	$ 503	$ 6,107	$ 809	$ (231)	$ (284)
Balance, shares at Mar. 31, 2022		467,024,144

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Common Stock (Par Value: $0.01)
Dividends paid on common stock, per share	$ 0.17	$ 0.17
Preferred Stock (Par Value: $0.01)
Dividends paid on preferred stock, per share	$ 15.94	$ 15.94

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income		$ 155	$ 145
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses		(2)	4
Depreciation		5	6
Amortization of discounts and premiums, net		(1)	1
Stock-based compensation		7	9
Deferred tax expense		(8)	31
Changes in operating assets and liabilities:
Decrease in other assets	[1]		8
Decrease in other liabilities	[2]	29	(28)
Purchases of securities held for trading		(35)	(60)
Proceeds from sales of securities held for trading		35	60
Origination of loans held for sale			(52)
Net cash provided by operating activities		185	124
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from repayment of securities available for sale		163	495
Purchase of securities available for sale		(269)	(985)
Redemption of Federal Home Loan Bank stock		107	16
Purchases of Federal Home Loan Bank stock		(52)	(1)
Proceeds from (purchases of) bank-owned life insurance, net		5	7
Proceeds from sales of loans			33
Purchases of loans		(61)	(21)
Other changes in loans, net		(960)	(225)
Purchases of premises and equipment, net		(1)
Net cash used in investing activities		(1,068)	(681)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net increase in deposits		2,895	1,760
Net increase in short-term borrowed funds		(1,150)
Proceeds from long-term borrowed funds		1,000	325
Repayments of long-term borrowed funds		(1,075)	(650)
Cash dividends paid on common stock		(79)	(79)
Cash dividends paid on preferred stock		(8)	(8)
Payments relating to treasury shares received for restricted stock award tax payments		(11)	(16)
Net cash provided by financing activities		1,572	1,332
Net increase in cash, cash equivalents, due from banks and restricted cash		689	775
Cash, cash equivalents, due from banks, and restricted cash at beginning of year		2,211	1,948
Cash, cash equivalents, due from banks, and restricted cash at end of year		2,900	2,723
Supplemental information:
Cash paid for interest		110	113
Cash paid for income taxes			14
Non-cash investing and financing activities:
Securitization of residential mortgage loans to mortgage-backed securities available for sale		61	21
Transfer of loans from held for investment to held for sale			48
Shares issued for restricted stock awards		$ 26	$ 28
[1]	Includes $ 6 million and $ 5 million of amortization of operating lease right-of-use assets for the three months ended March 31, 2022 and 2021 , respectively.
[2]	Includes $ 6 million and $ 5 million of amortization of operating lease liability for the three months ended March 31, 2022 and 2021 , respectively.

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) (unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Cash Flows [Abstract]
Amortization of operating lease right-of-use assets	$ 6	$ 5
Amortization of operating lease liability	$ 6	$ 5

Organization, Basis of Presenta

Organization, Basis of Presentation, and Impact of Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Organization, Basis of Presentation, and Impact of Recent Accounting Pronouncements	Note 1. Organization, Basis of Presentation, and Impact of Recent Accounting Pronouncements Organization New York Community Bancorp, Inc. (on a stand-alone basis, the “Parent Company” or, collectively with its subsidiaries, the “Company”) was organized under Delaware law on July 20, 1993 and is the holding company for New York Community Bank (hereinafter referred to as the “Bank”). Founded on April 14, 1859 and formerly known as Queens County Savings Bank, the Bank converted from a state-chartered mutual savings bank to the capital stock form of ownership on November 23, 1993, at which date the Company issued its initial offering of common stock (par value: $ 0.01 per share) at a price of $ 25.00 per share ($ 0.93 per share on a split-adjusted basis, reflecting the impact of nine stock splits between 1994 and 2004 ). The Bank currently operates 237 branches, 18 of which operate directly under the New York Community Bank name. The remaining 219 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. 2022-01—Derivatives and Hedging (Topic 815): Fair Value Hedging-Portfolio Layer Method in the first quarter of 2022 upon issuance. The amendments expand the current last-of-layer method of hedge accounting that permits only one hedged layer to allow multiple hedged layers of a single closed portfolio. To reflect that expansion, the last-of-layer method is renamed the portfolio layer method. In addition, the amendments expand the scope of the portfolio layer method to include non-prepayable assets; specify eligible hedging instruments in a single-layer hedge; provide additional guidance on the accounting for and disclosure of hedge basis adjustments; specify how hedge basis adjustments should be considered when determining credit losses for the assets included in the closed portfolio. To date, the guidance has not had any impact on the Company’s Consolidated Statements of Condition, results of operations, or cash flows.

Computation of Earnings per Com

Computation of Earnings per Common Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Computation of Earnings per Common Share	Note 2. Computation of Earnings per Common Share Basic EPS is computed by dividing the net income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted EPS is computed using the same method as basic EPS, however, the computation reflects the potential dilution that would occur if outstanding in-the-money stock options were exercised and converted into common stock. Unvested stock-based compensation awards containing non-forfeitable rights to dividends paid on the Company’s common stock are considered participating securities, and therefore are included in the two-class method for calculating EPS. Under the two-class method, all earnings (distributed and undistributed) are allocated to common shares and participating securities based on their respective rights to receive dividends on the common stock. The Company grants restricted stock to certain employees under its stock-based compensation plan. Recipients receive cash dividends during the vesting periods of these awards, including on the unvested portion of such awards. Since these dividends are non-forfeitable, the unvested awards are considered participating securities and therefore have earnings allocated to them. The following table presents the Company’s computation of basic and diluted EPS for the periods indicated: For the Three Months Ended March 31, (in millions, except share and per share amounts) 2022 2021 Net income available to common stockholders $ 147 $ 137 Less: Dividends paid on and earnings allocated ( 2 ) ( 2 ) Earnings applicable to common stock $ 145 $ 135 Weighted average common shares outstanding 465,138,238 463,292,906 Basic earnings per common share $ 0.31 $ 0.29 Earnings applicable to common stock $ 145 $ 135 Weighted average common shares outstanding 465,138,238 463,292,906 Potential dilutive common shares 808,525 594,031 Total shares for diluted earnings per common 465,946,763 463,886,937 Diluted earnings per common share and $ 0.31 $ 0.29

Reclassifications Out of Accumu

Reclassifications Out of Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2022
Reclassifications Of Accumulated Other Comprehensive Loss [Abstract]
Reclassifications Out of Accumulated Other Comprehensive Loss	Note 3: Reclassifications out of Accumulated Other Comprehensive Loss (in millions) For the Three Months Ended March 31, 2022 Details about Amount (1) Affected Line Item in the Unrealized gains on available-for-sale $ - Net gain on securities - Income tax expense $ - Net gain on securities, net of tax Unrealized loss on cash flow hedges: $ ( 6 ) Interest expense 2 Income tax benefit $ ( 4 ) Net loss on cash flow hedges, net of tax Amortization of defined benefit pension Past service liability $ - Included in the computation of net periodic credit (2) Actuarial losses - Included in the computation of net periodic cost (2) - Total before tax - Income tax benefit $ - Amortization of defined benefit pension plan items, net of tax Total reclassifications for the period $ ( 4 ) (1) Amounts in parentheses indicate expense items. (2) See Note 8, “Pension and Other Post-Retirement Benefits,” for additional information.

Securities

Securities	3 Months Ended
	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Securities	Note 4. Securities The following tables summarize the Company’s portfolio of debt securities available for sale and equity investments with readily determinable fair values at March 31, 2022 and December 31, 2021: March 31, 2022 (in millions) Amortized Gross Gross Fair Debt securities available-for-sale Mortgage-Related Debt Securities: GSE certificates $ 1,126 $ 3 $ 66 $ 1,063 GSE CMOs 1,680 1 128 1,553 Total mortgage-related debt securities $ 2,806 $ 4 $ 194 $ 2,616 Other Debt Securities: U. S. Treasury obligations $ 144 $ — $ — $ 144 GSE debentures 1,524 1 152 1,373 Asset-backed securities (1) 461 1 6 456 Municipal bonds 25 — 1 24 Corporate bonds 881 8 11 878 Foreign notes 25 1 — 26 Capital trust notes 96 6 7 95 Total other debt securities $ 3,156 $ 17 $ 177 $ 2,996 Total debt securities available for sale $ 5,962 $ 21 $ 371 $ 5,612 Equity securities: Mutual funds $ 16 $ — $ 1 $ 15 Total equity securities $ 16 $ — $ 1 $ 15 Total securities (2) $ 5,978 $ 21 $ 372 $ 5,627 (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. December 31, 2021 (in millions) Amortized Gross Gross Fair Debt securities available-for-sale Mortgage-Related Debt Securities: GSE certificates $ 1,102 $ 20 $ 15 $ 1,107 GSE CMOs 1,717 11 45 1,683 Total mortgage-related debt securities $ 2,819 $ 31 $ 60 $ 2,790 Other Debt Securities: U. S. Treasury obligations $ 45 $ — $ — $ 45 GSE debentures 1,524 1 45 1,480 Asset-backed securities (1) 479 3 3 479 Municipal bonds 25 — — 25 Corporate bonds 821 18 1 838 Foreign Notes 25 1 — 26 'Capital trust notes 96 8 7 97 Total other debt securities $ 3,015 $ 31 $ 56 $ 2,990 Total other securities available for sale $ 5,834 $ 62 $ 116 $ 5,780 Equity securities: Mutual funds $ 16 $ — $ — $ 16 Total equity securities $ 16 $ — $ — $ 16 Total securities (2) $ 5,850 $ 62 $ 116 $ 5,796 (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 March 31, 2022 and December 31, 2021 , respectively, the Company had $ 679 million and $ 734 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. Net losses on equity securities recognized in earnings for the three months ended March 31, 2022 and 2021 were $ 1 and $ 0 , respectively. The following table summarizes, by contractual maturity, the amortized cost of securities at March 31, 2022: Mortgage- U.S. State, Other (1) Fair (dollars in millions) Available-for-Sale Debt Due within one year $ 30 $ 144 $ — $ 5 $ 179 Due from one to five years 131 22 — 458 620 Due from five to ten years 267 673 19 519 1,395 Due after ten years 2,378 829 6 481 3,418 Total debt securities available $ 2,806 $ 1,668 $ 25 $ 1,463 $ 5,612 (1) 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 March 31, 2022: Less than Twelve Months Twelve Months or Longer Total (in millions) Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Temporarily Impaired Securities: U. S. Treasury obligations $ 144 $ — $ — $ — $ 144 $ — U.S. Government agency and GSE obligations 313 27 1,037 125 1,350 152 GSE certificates 598 31 259 34 857 65 GSE CMOs 792 41 647 88 1,439 129 Asset-backed securities 188 3 128 3 316 6 Municipal bonds — — 7 1 7 1 Corporate bonds 313 9 99 1 412 10 Foreign notes 5 — — — 5 — Capital trust notes 47 1 37 7 84 8 Equity securities 4 — 11 1 15 1 Total temporarily impaired $ 2,404 $ 112 $ 2,225 $ 260 $ 4,629 $ 372 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, 2021: Less than Twelve Months Twelve Months or Longer Total (in millions) Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Temporarily Impaired Securities: U. S. Treasury obligations $ 45 $ — $ — $ — $ 45 $ — U.S. Government agency and GSE obligations 317 7 185 8 502 15 GSE certificates 846 28 293 17 1,139 45 GSE CMOs 491 8 926 37 1,417 45 Asset-backed securities 130 1 135 2 265 3 Municipal bonds — — 8 — 8 — Corporate bonds — — 99 1 99 1 Foreign notes 5 — — — 5 — Capital trust notes — — 37 7 37 7 Equity securities 12 — — — 12 — Total temporarily impaired $ 1,846 $ 44 $ 1,683 $ 72 $ 3,529 $ 116 The investment securities designated as having a continuous loss position for twelve months or more at March 31, 2022 consisted of 31 agency MBS, 11 agency CMO's, five capital trusts notes, four asset-backed securities, two corporate bonds, 24 U.S. government agency bonds, one municipal bond and one equity security. The investment securities designated as having a continuous loss position for twelve months or more at December 31, 2021 consisted of four agency collateralized mortgage obligations, five capital trusts notes, four asset-backed securities, two corporate bonds, 20 US government agency bonds, 21 agency mortgage-backed securities 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 is compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any impairment that has not been recorded through an allowance for credit losses is recognized in other comprehensive income. None of the unrealized losses identified as of March 31, 2022 or December 31, 2021 relates to the marketability of the securities or the issuers’ ability to honor redemption obligations. Rather, the unrealized losses relate to changes in interest rates relative to when the investment securities were purchased, and do not indicate credit-related impairment. Management based this conclusion on an analysis of each issuer including a detailed credit assessment of each issuer. The Company does not intend to sell, and it is not more likely than not that the Company will be required to sell the positions before the recovery of their amortized cost basis, which may be at maturity. As such, no allowance for credit losses was recorded with respect to debt securities as of or during the three months ended March 31, 2022. Management has made the accounting policy election to exclude accrued interest receivable on available-for-sale securities from the estimate of credit losses. Available-for-sale debt securities are placed on non-accrual status when we no longer expect to receive all contractual amounts due, which is generally at 90 days past due. Accrued interest receivable is reversed against interest income when a security is placed on non-accrual status.

Loans and Leases

Loans and Leases	3 Months Ended
	Mar. 31, 2022
Receivables [Abstract]
Loans and Leases	Note 5. Loans and Leases The following table sets forth the composition of the loan portfolio at the dates indicated: March 31, 2022 December 31, 2021 (dollars in millions) Amount Percent of Amount Percent of Loans and Leases Held for Investment: Mortgage Loans: Multi-family $ 35,751 76.55 % $ 34,603 75.75 % Commercial real estate 6,701 14.35 6,698 14.66 One-to-four family 145 0.31 160 0.35 Acquisition, development, and construction 237 0.51 209 0.46 Total mortgage loans held for investment (1) 42,834 91.72 41,670 91.22 Other Loans: Commercial and industrial 2,200 4.71 2,236 4.89 Lease financing, net of unearned income 90 and $ 95 respectively 1,663 3.57 1,770 3.88 Total commercial and industrial loans (2) 3,863 8.27 4,006 8.77 Other 6 0.01 5 0.01 Total other loans held for investment 3,869 8.28 4,011 8.78 Total loans and leases held for investment (1) $ 46,703 100.00 % $ 45,681 100.00 % Net deferred loan origination costs 55 57 Allowance for loan and lease losses ( 197 ) ( 199 ) Total loans and leases, net $ 46,561 $ 45,539 (1) Excludes accrued interest receivable of $ 200 million and $ 199 million at March 31, 2022 and December 31, 2021 , respectively, which is included in other assets in the Consolidated Statements of Condition. (2) Includes specialty finance loans and leases of $ 3.3 billion and $ 3.5 billion, respectively, at March 31, 2022 and December 31, 2021 , and other C&I loans of $ 548 million and $ 527 million, respectively, at March 31, 2022 and December 31, 2021 . Loans Held for Investment The majority of the loans the Company originates for investment are multi-family loans, most of which are collateralized by non-luxury apartment buildings in New York City with rent-regulated units and below-market rents. In addition, the Company originates CRE loans, most of which are collateralized by income-producing properties such as office buildings, retail centers, mixed-use buildings, and multi-tenanted light industrial properties that are located in New York City and on Long Island. To a lesser extent, the Company also originates ADC loans for investment. One-to-four family loans held for investment were originated through the Company’s former mortgage banking operation and primarily consisted of jumbo adjustable rate mortgages made to borrowers with a solid credit history. ADC loans are primarily originated for multi-family and residential tract projects in New York City and on Long Island. C&I loans consist of asset-based loans, equipment loans and leases, and dealer floor-plan loans (together, specialty finance loans and leases) that generally are made to large corporate obligors, many of which are publicly traded, carry investment grade or near-investment grade ratings, and participate in stable industries nationwide; and other C&I loans that primarily are made to small and mid-size businesses in Metro New York. Other C&I loans are typically made for working capital, business expansion, and the purchase of machinery and equipment. The repayment of multi-family and CRE loans generally depends on the income produced by the underlying properties which, in turn, depends on their successful operation and management. To mitigate the potential for credit losses, the Company underwrites its loans in accordance with credit standards it considers to be prudent, looking first at the consistency of the cash flows being produced by the underlying property. In addition, multi-family buildings, CRE properties, and ADC projects are inspected as a prerequisite to approval, and independent appraisers, whose appraisals are carefully reviewed by the Company’s in-house appraisers, perform appraisals on the collateral properties. In many cases, a second independent appraisal review is performed. To further manage its credit risk, the Company’s lending policies limit the amount of credit granted to any one borrower and typically require conservative debt service coverage ratios and loan-to-value ratios. Nonetheless, the ability of the Company’s borrowers to repay these loans may be impacted by adverse conditions in the local real estate market and the local economy. Accordingly, there can be no assurance that its underwriting policies will protect the Company from credit-related losses or delinquencies. ADC loans typically involve a higher degree of credit risk than loans secured by improved or owner-occupied real estate. Accordingly, borrowers are required to provide a guarantee of repayment and completion, and loan proceeds are disbursed as construction progresses, as certified by in-house inspectors or third-party engineers. The Company seeks to minimize the credit risk on ADC loans by maintaining conservative lending policies and rigorous underwriting standards. However, if the estimate of value proves to be inaccurate, the cost of completion is greater than expected, or the length of time to complete and/or sell or lease the collateral property is greater than anticipated, the property could have a value upon completion that is insufficient to assure full repayment of the loan. This could have a material adverse effect on the quality of the ADC loan portfolio, and could result in losses or delinquencies. In addition, the Company utilizes the same stringent appraisal process for ADC loans as it does for its multi-family and CRE loans. To minimize the risk involved in specialty finance lending and leasing, the Company participates in syndicated loans that are brought to it, and equipment loans and leases that are assigned to it, by a select group of nationally recognized sources who have long-term relationships with its experienced lending officers. Each of these credits is secured with a perfected first security interest in or outright ownership of the underlying collateral, and structured as senior debt or as a non-cancelable lease. To further minimize the risk involved in specialty finance lending and leasing, each transaction is re-underwritten. In addition, outside counsel is retained to conduct a further review of the underlying documentation. To minimize the risks involved in other C&I lending, the Company underwrites such loans on the basis of the cash flows produced by the business; requires that such loans be collateralized by various business assets, including inventory, equipment, and accounts receivable, among others; and typically requires personal guarantees. However, the capacity of a borrower to repay such a C&I loan is substantially dependent on the degree to which the business is successful. In addition, the collateral underlying such loans may depreciate over time, may not be conducive to appraisal, or may fluctuate in value, based upon the results of operations of the business. Included in loans held for investment at March 31, 2022 and December 31, 2021 , were loans of $ 6 million to certain officers, directors, and their related interests and parties. There were no loans to principal shareholders at that date. As of the second quarter of 2021, the Board of Directors adopted a revised policy in which the Bank shall no longer make loans or extensions of credit to executive officers and directors of the Company, and firms that employ directors. Any loans and extensions of credit made to an executive officer or director, or any firms that employ directors, prior to the adoption of these revisions have been grandfathered but remain subject to oversight and review of the Board of Directors. Asset Quality A loan generally is classified as a non-accrual loan when it is 90 days or more past due or when it is deemed to be impaired because the Company no longer expects to collect all amounts due according to the contractual terms of the loan agreement. When a loan is placed on non-accrual status, management ceases the accrual of interest owed, and previously accrued interest is charged against interest income. A loan is generally returned to accrual status when the loan is current and management has reasonable assurance that the loan will be fully collectible. Interest income on non-accrual loans is recorded when received in cash. At March 31, 2022 and December 31, 2021, all of our non-performing loans were non-accrual loans. The following table presents information regarding the quality of the Company’s loans held for investment at March 31, 2022: (in millions) Loans Non- Loans 90 Total Current Total Multi-family $ 23 $ 22 $ — $ 45 $ 35,706 $ 35,751 Commercial real estate 4 35 — 39 6,662 6,701 One-to-four family 7 — — 7 138 145 Acquisition, development, and — — — — 237 237 Commercial and industrial (1) (2) — 6 — 6 3,857 3,863 Other — — — — 6 6 Total $ 34 $ 63 $ — $ 97 $ 46,606 $ 46,703 (1) Includes $ 5 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, 2021: (in millions) Loans Non- Loans 90 Total Current Total Multi-family $ 57 $ 10 $ — $ 67 $ 34,536 $ 34,603 Commercial real estate 2 16 — 18 6,680 6,698 One-to-four family 8 1 — 9 151 160 Acquisition, development, and — — — — 209 209 Commercial and industrial (1) (2) — 6 — 6 4,000 4,006 Other — — — — 5 5 Total $ 67 $ 33 $ — $ 100 $ 45,581 $ 45,681 (1) Includes $ 6 million of taxi medallion-related loans that were 90 days or more past due. There were no taxi medallion-related loans that were 30 to 89 days past due. (2) Includes lease financing receivables, all of which were current. The following table summarizes the Company’s portfolio of loans held for investment by credit quality indicator at March 31, 2022. Mortgage Loans Other Loans (in millions) Multi- Commercial One-to- Acquisition, Total Commercial (1) Other Total Credit Quality Indicator: Pass $ 34,087 $ 5,951 $ 122 $ 233 $ 40,393 $ 3,858 $ 6 $ 3,864 Special mention 998 577 23 4 1,602 — — — Substandard 666 173 — — 839 5 — 5 Doubtful — — — — — — — — Total $ 35,751 $ 6,701 $ 145 $ 237 $ 42,834 $ 3,863 $ 6 $ 3,869 (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, 2021: Mortgage Loans Other Loans (in millions) Multi- Commercial One-to- Acquisition, Total Commercial (1) Other Total Credit Quality Indicator: Pass $ 33,011 $ 5,874 $ 137 $ 204 $ 39,226 $ 3,959 $ 5 $ 3,964 Special mention 981 643 14 5 1,643 2 — 2 Substandard 611 181 9 — 801 45 — 45 Doubtful — — — — — — — — Total $ 34,603 $ 6,698 $ 160 $ 209 $ 41,670 $ 4,006 $ 5 $ 4,011 (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. The following table presents, by credit quality indicator, loan class, and year of origination, the amortized cost basis of the Company’s loans and leases as of March 31, 2022. Vintage Year (in millions) 2022 2021 2020 2019 2018 Prior To Revolving Total Pass $ 2,688 $ 9,299 $ 9,159 $ 5,417 $ 4,348 $ 9,491 $ 18 $ 40,420 Special Mention — — 70 230 343 959 1 1,603 Substandard — — 39 147 176 477 — 839 Total mortgage loans $ 2,688 $ 9,299 $ 9,268 $ 5,794 $ 4,867 $ 10,927 $ 19 $ 42,862 Pass 115 836 608 496 81 309 1,446 3,891 Special Mention — — — — — — — — Substandard — — 2 1 1 1 — 5 Total other loans 115 836 610 497 82 310 1,446 3,896 Total $ 2,803 $ 10,135 $ 9,878 $ 6,291 $ 4,949 $ 11,237 $ 1,465 $ 46,758 When management determines that foreclosure is probable, expected credit losses are based on the fair value of the collateral adjusted for selling costs. When the borrower is experiencing financial difficulty at the reporting date and repayment is expected to be provided substantially through the operation or sale of the collateral, the collateral-dependent practical expedient has been elected and expected credit losses are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate. For CRE loans, collateral properties include office buildings, warehouse/distribution buildings, shopping centers, apartment buildings, residential and commercial tract development. The primary source of repayment on these loans is expected to come from the sale, permanent financing or lease of the real property collateral. CRE loans are impacted by fluctuations in collateral values, as well as the ability of the borrower to obtain permanent financing. The following table summarizes the extent to which collateral secures the Company’s collateral-dependent loans held for investment by collateral type as of March 31, 2022. Collateral Type (in millions) Real Other Multi-family $ 19 $ — Commercial real estate 49 — One-to-four family — — Acquisition, development, and construction — — Commercial and industrial — 5 Other — — Total collateral-dependent loans held for investment 68 5 Other collateral type consists of taxi medallions, cash, accounts receivable and inventory. There were no significant changes in the extent to which collateral secures the Company’s collateral-dependent financial assets during the three months ended March 31, 2022. Troubled Debt Restructurings The Company is required to account for certain loan modifications and restructurings as TDRs. In general, a modification or restructuring of a loan constitutes a TDR if the Company grants a concession to a borrower experiencing financial difficulty. A loan modified as a TDR generally is placed on non-accrual status until the Company determines that future collection of principal and interest is reasonably assured, which requires, among other things, that the borrower demonstrate performance according to the restructured terms for a period of at least six consecutive months. In determining the Company’s allowance for loan and lease losses, reasonably expected TDRs are individually evaluated and consist of criticized, classified, or maturing loans that will have a modification processed within the next three months. In an effort to proactively manage delinquent loans, the Company has selectively extended to certain borrowers concessions such as rate reductions, extension of maturity dates, and forbearance agreements. As of March 31, 2022 , loans on which concessions were made with respect to rate reductions and/or extension of maturity dates amounted to $ 47 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 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 following table presents information regarding the Company's TDRs as of March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 (in millions) Accruing Non- Total Accruing Non- Total Loan Category: Multi-family $ — $ 7 $ 7 $ — $ 7 $ 7 Commercial real estate 16 19 35 16 — 16 One-to-four family — — — — — — Acquisition, development, and — — — — — — Commercial and industrial (1) — 5 5 — 6 6 Total $ 16 $ 31 $ 47 $ 16 $ 13 $ 29 (1) Includes $ 5 million and $ 6 million of taxi medallion-related loans at March 31, 2022 and December 31, 2021 , respectively. The financial effects of the Company’s TDRs for the three months ended March 31, 2022 and 2021 are summarized as follows: For the Three Months Ended March 31, 2022 Weighted Average (dollars in millions) Number Pre- Post- Pre- Post- Charge- Capitalized Loan Category: Commercial real estate 1 $ 22 $ 19 6.00 % 4.00 % $ 3 $ — For the Three Months Ended March 31, 2021 Weighted Average (dollars in millions) Number Pre- Post- Pre- Post- Charge- Capitalized Loan Category: Multi-family 1 $ 8 $ 8 3.13 % 3.25 % $ — $ — At March 31, 2022 , no loans have been modified as TDRs that were in payment default during the twelve months ended at that date. At March 31, 2021 , 17 C&I loans in the aggregate amount of $ 2 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	3 Months Ended
	Mar. 31, 2022
Allowance For Credit Losses On Loans And Leases [Abstract]
Allowance for Credit Losses on Loans and Leases	Note 6. Allowance for Credit Losses on Loans and Leases Allowance for Credit Losses on Loans and Leases The following table summarizes activity in the allowance for credit losses on loans and leases for the periods indicated: For the Three Months Ended March 31, 2022 2021 (in millions) Mortgage Other Total Mortgage Other Total Balance, beginning of period $ 178 $ 21 $ 199 $ 176 $ 18 $ 194 Charge-offs ( 3 ) — ( 3 ) ( 1 ) ( 3 ) ( 4 ) Recoveries — 2 2 — 5 5 Provision for (recovery of) credit 1 ( 2 ) ( 1 ) 1 2 3 Balance, end of period $ 176 $ 21 $ 197 $ 176 $ 22 $ 198 Separately, at March 31, 2022 , the Company had an allowance for unfunded commitments of $ 11 million, as compared to $ 12 million at December 31, 2021. For the three months ended March 31, 2022 , the allowance for credit losses on loan and leases decreased primarily as a result of improvements in macroeconomic and environmental factors surrounding the COVID-19 pandemic, specifically those affecting commercial real estate in the New York City area. The macroeconomic forecast includes Gross Domestic Product (“GDP”) which is expected to rise at an annualized rate of 3.7% and 3.0% respectively for 2022 and 2023. Unemployment continues to subside from the historic shock of 2020, as peak unemployment rates are forecasted to be approximately 3.6% in 2022 and 3.4% in 2023. The 10-year U.S. Treasury yield is expected to steadily increase over the course of 2022-23. In addition to these quantitative inputs, several qualitative factors were considered in decreasing our allowance for loan and lease credit losses, including changes in borrower payment behavior and other attributes related to the commercial real estate portfolio. The Company charges off loans, or portions of loans, in the period that such loans, or portions thereof, are deemed uncollectible. The collectability of individual loans is determined through an assessment of the financial condition and repayment capacity of the borrower and/or through an estimate of the fair value of any underlying collateral. For non-real estate-related consumer credits, the following past-due time periods determine when charge-offs are typically recorded: (1) closed-end credits are charged off in the quarter that the loan becomes 120 days past due; (2) open-end credits are charged off in the quarter that the loan becomes 180 days past due; and (3) both closed-end and open-end credits are typically charged off in the quarter that the credit is 60 days past the date the Company received notification that the borrower has filed for bankruptcy. The following table presents additional information about the Company’s nonaccrual loans at March 31, 2022: (in millions) Recorded Related Interest Nonaccrual loans with no related allowance: Multi-family $ 19 $ — $ — Commercial real estate 33 — — One-to-four family — — — Acquisition, development, and construction — — — Other 6 — — Total nonaccrual loans with no related allowance $ 58 $ — $ — Nonaccrual loans with an allowance recorded: Multi-family $ 3 $ 1 $ — Commercial real estate 2 — — One-to-four family — — — Acquisition, development, and construction — — — Other — — — Total nonaccrual loans with an allowance recorded $ 5 $ 1 $ — Total nonaccrual loans: Multi-family $ 22 $ 1 $ — Commercial real estate 35 — — One-to-four family — — — Acquisition, development, and construction — — — Other 6 — — Total nonaccrual loans $ 63 $ 1 $ — The following table presents additional information about the Company’s nonaccrual loans at December 31, 2021: (in millions) Recorded Related Interest Nonaccrual loans with no related allowance: Multi-family $ 9 $ — $ 1 Commercial real estate 14 — — One-to-four family — — — Acquisition, development, and construction — — — Other 6 — — Total nonaccrual loans with no related allowance $ 29 $ — $ 1 Nonaccrual loans with an allowance recorded: Multi-family $ 1 $ — $ — Commercial real estate 2 — — One-to-four family 1 — — Acquisition, development, and construction — — — Other — — — Total nonaccrual loans with an allowance recorded $ 4 $ — $ — Total nonaccrual loans: Multi-family $ 10 $ — $ 1 Commercial real estate 16 — — One-to-four family 1 — — Acquisition, development, and construction — — — Other 6 — — Total nonaccrual loans $ 33 $ — $ 1

Borrowed Funds

Borrowed Funds	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Borrowed Funds	Note 7. Borrowed Funds The following table summarizes the Company’s borrowed funds at the dates indicated: March 31, December 31, (in millions) 2022 2021 Wholesale borrowings: FHLB advances $ 13,880 $ 15,105 Repurchase agreements 800 800 Total wholesale borrowings $ 14,680 $ 15,905 Junior subordinated debentures 361 361 Subordinated notes 296 296 Total borrowed funds $ 15,337 $ 16,562 The following table summarizes the Company’s repurchase agreements accounted for as secured borrowings at March 31, 2022: Remaining Contractual Maturity of the Agreements (dollars in millions) Overnight and Up to 30–90 Days Greater than GSE obligations $ — $ — $ — $ 800 Subordinated Notes At March 31, 2022 and December 31, 2021 , the Company had $ 296 million of fixed-to-floating rate subordinated notes outstanding: Date of Original Issue Stated Maturity Interest Rate (1) Original Issue 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 March 31, 2022 and December 31, 2021 , the Company had $ 361 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 March 31, 2022: Issuer Interest Rate Junior Capital Date of Stated First Optional (dollars in millions) New York Community Capital SM Units) 6.00 % $ 147 $ 140 Nov. 4, 2002 Nov. 1, 2051 Nov. 4, 2007 (1) New York Community Capital 2.43 124 120 Dec. 14, 2006 Dec. 15, 2036 Dec. 15, 2011 (2) PennFed Capital Trust III 4.08 31 30 June 2, 2003 June 15, 2033 June 15, 2008 (2) New York Community Capital 2.65 59 58 April 16, 2007 June 30, 2037 June 30, 2012 (2) Total junior subordinated debentures $ 361 $ 348 (1) Callable subject to certain conditions as described in the prospectus filed with the SEC on November 4, 2002. (2) Callable from this date forward.

Pension and Other Post-Retireme

Pension and Other Post-Retirement Benefits	3 Months Ended
	Mar. 31, 2022
Retirement Benefits, Description [Abstract]
Pension and Other Post-Retirement Benefits	Note 8. Pension and Other Post-Retirement Benefits The following table sets forth certain disclosures for the Company’s pension and post-retirement plans for the periods indicated: For the Three Months Ended March 31, 2022 2021 Post Post Pension Retirement Pension Retirement (in millions) Benefits Benefits Benefits Benefits Components of net periodic pension expense (credit): Interest cost $ 1 $ — $ 1 $ — Expected return on plan assets ( 4 ) — ( 4 ) — Amortization of net actuarial loss — — 2 — Net periodic (credit) expense $ ( 3 ) $ — $ ( 1 ) $ — (1) Amounts are included in G&A expense on the Consolidated Statements of Income and Comprehensive Income. (2) Post-retirement benefits balances round to zero. The Company expects to contribute $ 1 million to its post-retirement plan to pay premiums and claims for the fiscal year ending December 31, 2022. The Company does no t expect to make any contributions to its pension plan in 2022.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Note 9. Stock-Based Compensation At March 31, 2022 , the Company had a total of 5,872,599 shares available for grants as restricted stock, options, or other forms of related rights. The Company granted 2,859,342 shares of restricted stock, with an average fair value of $ 11.78 per share on the date of grant, during the three months ended March 31, 2022. During the three months ended March 31, 2021 , the Company granted 3,029,949 shares of restricted stock, with an average fair value of $ 11.15 per share. The shares of restricted stock that were granted during the three months ended March 31, 2022 and 2021 , 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 $ 7 million and $ 8 million for the three months ended March 31, 2022 and 2021, respectively. The following table provides a summary of activity with regard to restricted stock awards in the three months ended March 31, 2022: For the Three Months Ended Number of Shares Weighted Unvested at beginning of year 6,950,335 $ 11.68 Granted 2,859,342 11.78 Vested ( 2,150,196 ) 12.29 Canceled ( 44,519 ) 11.53 Unvested at end of year 7,614,962 11.55 As of March 31, 2022 , unrecognized compensation cost relating to unvested restricted stock totaled $ 82 million. This amount will be recognized over a remaining weighted average period of 3.6 years. The following table provides a summary of activity with regard to Performance-Based Restricted Stock Units ("PSUs") in the three months ended March 31, 2022: Number of Performance Expected Outstanding at beginning of year 834,612 Granted — Released ( 176,090 ) Canceled ( 58,696 ) Outstanding at end of period 599,826 January 1, 2021 - December 31, 2023 March 31, 2023 and 2024 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 $ 0 and $ 1 million for the three months ended March 31, 2022 and March 31, 2021. As of March 31, 2022 , unrecognized compensation cost relating to unvested restricted stock totaled $ 3 million. This amount will be recognized over a remaining weighted average period of 1.6 years. As of March 31, 2022, 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 $ 2 million for the three months ended March 31, 2022 and March 31, 2021 .

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 10. Fair Value Measurements GAAP sets forth a definition of fair value, establishes a consistent framework for measuring fair value, and requires disclosure for each major asset and liability category measured at fair value on either a recurring or non-recurring basis. GAAP also clarifies that fair value is an “exit” price, representing the amount that would be received when selling an asset, or paid when transferring a liability, in an orderly transaction between market participants. Fair value is thus a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: • Level 1 – Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2 – Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. • Level 3 – Inputs to the valuation methodology are significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants use in pricing an asset or liability. A financial instrument’s categorization within this valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The following tables present assets and liabilities that were measured at fair value on a recurring basis as of March 31, 2022 and December 31, 2021, and that were included in the Company’s Consolidated Statements of Condition at those dates: Fair Value Measurements at March 31, 2022 (in millions) Quoted Significant Significant Total Assets: Mortgage-related Debt Securities GSE certificates $ — $ 1,063 $ — $ 1,063 GSE CMOs — 1,553 — 1,553 Total mortgage-related debt securities $ — $ 2,616 $ — $ 2,616 Other Debt Securities Available for Sale: U. S. Treasury obligations $ 144 - $ — $ 144 GSE debentures — 1,373 — 1,373 Asset-backed securities — 456 — 456 Municipal bonds — 24 — 24 Corporate bonds — 878 — 878 Foreign notes — 26 — 26 Capital trust notes — 95 — 95 Total other debt securities $ 144 $ 2,852 $ — $ 2,996 Total debt securities available for sale $ 144 $ 5,468 $ — $ 5,612 Equity securities: Preferred stock $ — $ — $ — $ — Mutual funds and common stock — 15 — 15 Total equity securities $ — $ 15 $ — $ 15 Total securities $ 144 $ 5,483 $ — $ 5,627 Fair Value Measurements at December 31, 2021 (in millions) Quoted Significant Significant Total Assets: Mortgage-Related Debt Securities GSE certificates $ — $ 1,107 $ — $ 1,107 GSE CMOs — 1,683 — 1,683 Total mortgage-related debt securities $ — $ 2,790 $ — $ 2,790 Other Debt Securities Available U.S. Treasury obligations $ 45 $ — $ — $ 45 GSE debentures — 1,480 — 1,480 Asset-backed securities — 479 — 479 Municipal bonds — 25 — 25 Corporate bonds — 838 — 838 Foreign notes — 26 — 26 Capital trust notes — 97 — 97 Total other debt securities $ 45 $ 2,945 $ — $ 2,990 Total debt securities available for sale $ 45 $ 5,735 $ — $ 5,780 Equity securities: — Preferred stock $ — $ — $ — $ — Mutual funds and common stock — 16 — 16 Total equity securities $ — $ 16 $ — $ 16 Total securities $ 45 $ 5,751 $ — $ 5,796 The Company reviews and updates the fair value hierarchy classifications for its assets on a quarterly basis. Changes from one quarter to the next that are related to the observability of inputs for a fair value measurement may result in a reclassification from one hierarchy level to another. A description of the methods and significant assumptions utilized in estimating the fair values of securities follows: Where quoted prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. Level 1 securities include highly liquid government securities and exchange-traded securities. If quoted market prices are not available for a specific security, then fair values are estimated by using pricing models. These pricing models primarily use market-based or independently sourced market parameters as inputs, including, but not limited to, yield curves, interest rates, equity or debt prices, and credit spreads. In addition to observable market information, models incorporate transaction details such as maturity and cash flow assumptions. Securities valued in this manner would generally be classified within Level 2 of the valuation hierarchy, and primarily include such instruments as mortgage-related and corporate debt securities. Periodically, the Company uses fair values supplied by independent pricing services to corroborate the fair values derived from the pricing models. In addition, the Company reviews the fair values supplied by independent pricing services, as well as their underlying pricing methodologies, for reasonableness. The Company challenges pricing service valuations that appear to be unusual or unexpected. While the Company believes its valuation methods are appropriate, and consistent with those of other market participants, the use of different methodologies or assumptions to determine the fair values of certain financial instruments could result in different estimates of fair values at a reporting date. Assets Measured at Fair Value on a Non-Recurring Basis Certain assets are measured at fair value on a non-recurring basis. Such instruments are subject to fair value adjustments under certain circumstances (e.g., when there is evidence of impairment). The following tables present assets and liabilities that were measured at fair value on a non-recurring basis as of March 31, 2022 and December 31, 2021, and that were included in the Company’s Consolidated Statements of Condition at those dates: Fair Value Measurements at March 31, 2022 Using (in millions) Quoted Prices Significant Significant Total Fair Certain loans (1) $ — $ — $ 25 $ 25 Other assets (2) — — 31 31 Total $ — $ — $ 56 $ 56 (1) Represents the fair value 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, 2021 Using (in millions) Quoted Prices Significant Significant Total Fair Certain loans (1) $ — $ — $ 32 $ 32 Other assets (2) — — 32 32 Total $ — $ — $ 64 $ 64 (1) Represents the fair value based on the value of the collateral. (2) Represents the fair value of repossessed assets, based on the appraised value of the collateral subsequent to its initial classification as repossessed assets and equity investments without readily determinable fair values. These equity investments are classified as Level 3 due to the infrequency of the observable prices and/or the restrictions on the shares. The fair values of collateral-dependent impaired loans are determined using various valuation techniques, including consideration of appraised values and other pertinent real estate and other market data. Other Fair Value Disclosures For the disclosure of fair value information about the Company’s on- and off-balance sheet financial instruments, when available, quoted market prices are used as the measure of fair value. In cases where quoted market prices are not available, fair values are based on present-value estimates or other valuation techniques. Such fair values are significantly affected by the assumptions used, the timing of future cash flows, and the discount rate. Because assumptions are inherently subjective in nature, estimated fair values cannot be substantiated by comparison to independent market quotes. Furthermore, in many cases, the estimated fair values provided would not necessarily be realized in an immediate sale or settlement of such instruments. The following tables summarize the carrying values, estimated fair values, and fair value measurement levels of financial instruments that were not carried at fair value on the Company’s Consolidated Statements of Condition at March 31, 2022 and December 31, 2021: March 31, 2022 Fair Value Measurement Using (in millions) Carrying Estimated Quoted Prices Significant Significant Financial Assets: Cash, cash equivalents and due from banks $ 2,900 $ 2,900 $ 2,900 $ — $ — FHLB stock (1) 679 679 — 679 — Loans and leases, net 46,561 44,959 — — 44,959 Financial Liabilities: Deposits $ 37,954 $ 37,883 $ 30,065 (2) $ 7,818 (3) $ — Borrowed funds 15,337 15,577 — 15,577 — (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, 2021 Fair Value Measurement Using (in millions) Carrying Estimated Quoted Prices Significant Significant Financial Assets: Cash, cash equivalents and due from banks $ 2,211 $ 2,211 $ 2,211 $ — $ — FHLB stock (1) 734 734 — 734 — Loans and leases, net 45,539 44,748 — — 44,748 Financial Liabilities: Deposits $ 35,059 $ 35,051 $ 26,635 (2) $ 8,416 (3) $ — Borrowed funds 16,562 17,169 — 17,169 — (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, Cash Equivalents and Due From Banks Cash, cash equivalents and due from banks include cash and due from banks and federal funds sold. The estimated fair values of cash, cash equivalents and due from banks 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 (total deposits excluding CDs) relationships, which comprise a significant portion of the Company’s deposit base. Borrowed Funds The estimated fair value of borrowed funds is based either on bid quotations received from securities dealers or the discounted value of contractual cash flows with interest rates currently in effect for borrowed funds with similar maturities and structures. Off-Balance Sheet Financial Instruments The fair values of commitments to extend credit and unadvanced lines of credit are estimated based on an analysis of the interest rates and fees currently charged to enter into similar transactions, considering the remaining terms of the commitments and the creditworthiness of the potential borrowers. The estimated fair values of such off-balance sheet financial instruments were insignificant at March 31, 2022 and December 31, 2021.

Leases

Leases	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Leases	Note 11. Leases Lessor Arrangements The Company is a lessor in the equipment finance business where it has executed direct financing leases (“lease finance receivables”). The Company produces lease finance receivables through a specialty finance subsidiary that participates in syndicated loans that are brought to them, and equipment loans and leases that are assigned to them, by a select group of nationally recognized sources, and are generally made to large corporate obligors, many of which are publicly traded, carry investment grade or near-investment grade ratings, and participate in stable industries nationwide. Lease finance receivables are carried at the aggregate of lease payments receivable plus the estimated residual value of the leased assets and any initial direct costs incurred to originate these leases, less unearned income, which is accreted to interest income over the lease term using the interest method. The standard leases are typically repayable on a level monthly basis with terms ranging from 24 to 120 months. At the end of the lease term, the lessee usually has the option to return the equipment, to renew the lease or purchase the equipment at the then fair market value (“FMV”) price. For leases with a FMV renewal/purchase option, the relevant residual value assumptions are based on the estimated value of the leased asset at the end of lease term, including evaluation of key factors, such as, the estimated remaining useful life of the leased asset, its historical secondary market value including history of the lessee executing the FMV option, overall credit evaluation and return provisions. The Company acquires the leased asset at fair market value and provides funding to the respective lessee at acquisition cost, less any volume or trade discounts, as applicable. Therefore, there is generally no selling profit or loss to recognize or defer at inception of a lease. The residual value component of a lease financing receivable represents the estimated fair value of the leased equipment at the end of the lease term. In establishing residual value estimates, the Company may rely on industry data, historical experience, and independent appraisals and, where appropriate, information regarding product life cycle, product upgrades and competing products. Upon expiration of a lease, residual assets are remarketed, resulting in an extension of the lease by the lessee, a lease to a new customer or purchase of the residual asset by the lessee or another party. Impairment of residual values arises if the expected fair value is less than the carrying amount. The Company assesses its net investment in lease financing receivables (including residual values) for impairment on an annual basis with any impairment losses recognized in accordance with the impairment guidance for financial instruments. As such, net investment in lease financing receivables may be reduced by an allowance for credit losses with changes recognized as provision expense. On certain lease financings, the Company obtains residual value insurance from third parties to manage and reduce the risk associated with the residual value of the leased assets. At March 31, 2022 and December 31, 2021, the carrying value of residual assets with third-party residual value insurance for at least a portion of the asset value was $ 60 million and $ 61 million, respectively. The Company uses the interest rate implicit in the lease to determine the present value of its lease financing receivables. The components of lease income were as follows: (in millions) For the For the Interest income on lease financing (1) $ 12 $ 14 (1) Included in Interest Income – Loans and leases in the Consolidated Statements of Income and Comprehensive Income. At March 31, 2022 and December 31, 2021, the carrying value of net investment in leases was $ 1.8 billion and $ 1.9 billion, respectively. The components of net investment in direct financing leases, including the carrying amount of the lease receivables, as well as the unguaranteed residual asset were as follows: (in millions) March 31, December 31, Net investment in the lease - lease payments receivable $ 1,680 $ 1,790 Net investment in the lease - unguaranteed residual assets 73 75 Total lease payments $ 1,753 $ 1,865 The following table presents the remaining maturity analysis of the undiscounted lease receivables as of March 31, 2022, as well as the reconciliation to the total amount of receivables recognized in the Consolidated Statements of Condition: (in millions) March 31, 2022 $ 10 2023 196 2024 247 2025 344 2026 382 Thereafter 574 Total lease payments 1,753 Plus: deferred origination costs 23 Less: unearned income ( 90 ) Total lease finance receivables, net $ 1,686 Lessee Arrangements The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use ("ROU") 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 $ 6 million and $ 5 million for the three months ended March 31, 2022 and 2021, respectively. The Company has operating leases for corporate offices, branch locations, and certain equipment. The Company’s leases have remaining lease terms of one year to approximately 25 years , the vast majority of which include one or more options to extend the leases for up to five years resulting in lease terms up to 40 years. The components of lease expense were as follows: (in millions) For the Three For the Three Operating lease cost $ 7 $ 7 Sublease income — — Total lease cost $ 7 $ 7 Supplemental cash flow information related to the leases for the following periods: (in millions) For the Three For the Three Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 7 $ 7 Supplemental balance sheet information related to the leases for the following periods: (in millions, except lease term and discount rate) March 31, December 31, Operating Leases: Operating lease right-of-use assets $ 243 $ 249 Operating lease liabilities $ 243 $ 249 Weighted average remaining lease term 15 years 16 years Weighted average discount rate% 3.26 % 3.05 % (in millions) March 31, 2022 $ 20 2023 26 2024 25 2025 24 2026 23 Thereafter 194 Total lease payments 312 Less: imputed interest ( 69 ) Total present value of lease liabilities $ 243

Derivative and Hedging Activiti

Derivative and Hedging Activities	3 Months Ended
	Mar. 31, 2022
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 DFA requires all standardized derivatives, including most interest rate swaps, to be submitted for clearing to central counterparties to reduce counterparty risk. Two of the central counterparties are the Chicago Mercantile Exchange (“CME”) and the London Clearing House (“LCH”). As of March 31, 2022 , all of the Company’s $ 2.1 billion notional derivative contracts were cleared on the LCH. Daily variation margin payments on derivatives cleared through the LCH are accounted for as legal settlement. For derivatives cleared through LCH, the net gain (loss) position includes the variation margin amounts as settlement of the derivative and not collateral against the fair value of the derivative, which includes accrued interest; therefore, those interest rate and derivative contracts the Company clears through the LCH are reported at a fair value of approximately zero at March 31, 2022. The Company’s exposure is limited to the value of the derivative contracts in a gain position less any collateral held and plus any collateral posted. When there is a net negative exposure, we consider our exposure to the counterparty to be zero. At March 31, 2022, the Company had a net positive 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 entered into an interest rate swap with a notional amount of $ 2.0 billion to hedge certain real estate loans. This swap expired in February 2022 and was not renewed. For the three months ended March 31, 2022 , 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 $ 6 million for the three months ended March 31, 2022. For the three months ended March 31, 2021 , the floating rate received related to the net settlement of this interest rate swap was less than the fixed rate payments. As such, interest income from Loans and leases in the accompanying Consolidated Statements of Income and Comprehensive Income was decreased by $ 12 million for the three months ended March 31, 2021. As of March 31, 2022, and December 31, 2021 the following amounts were recorded on the balance sheet related to cumulative basis adjustment for fair value hedges: (in millions) March 31, 2022 December 31, 2021 Line Item in the Consolidated Statements of Carrying Cumulative Carrying Cumulative Total loans and leases, net (1) $ - $ - $ 2,025 $ 25 (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. Since the swap expired in February 2022, at March 31, 2022 , the amortized cost basis of the closed portfolios used in these hedging relationships; the cumulative basis adjustments associated with these hedging relationships; and the amount of the designated hedged items were $ 0 . The following table sets forth the effect of derivative instruments on the Consolidated Statements of Income and Comprehensive Income for the periods indicated. (in millions) For the Three For the Three Derivative – interest rate swap: Interest income $ 25 $ 25 Hedged item – loans: Interest income $ ( 25 ) $ ( 25 ) 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 $ 2.1 billion and $ 2.3 billion as of March 31, 2022 and December 31, 2021, respectively, were designated as cash flow hedges of certain FHLB borrowings. The following table summarizes information about the interest rate swaps designated as cash flow hedges at March 31, 2022 and December 31, 2021: (dollars in millions) March 31, December 31, Notional amounts $ 2,050 $ 2,250 Cash collateral received (posted) 9 ( 12 ) Weighted average pay rates 1.34 % 1.27 % Weighted average receive rates 0.61 % 0.18 % Weighted average maturity 0.7 years 0.9 years The following table presents the effect of the Company's cash flow derivative instruments on AOCL for the three months ended March 31, 2022 and 2021: (in millions) For the Three For the Three Amount of (loss) gain recognized in AOCL $ 16 $ 5 Amount of reclassified from AOCL to interest expense 6 6 Gains (losses) included in the Consolidated Statements of Income related to interest rate derivatives designated as cash flow hedges during the three months ended March 31, 2022 was $ 6 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 $ 15 million will be reclassified to interest expense.

Pending Acquisition

Pending Acquisition	3 Months Ended
	Mar. 31, 2022
Business Combinations [Abstract]
Pending Acquisition	Note 13. Pending Acquisition Extension of Merger Agreement with Flagstar Bancorp, Inc. 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 initially valued at $ 2.6 billion (the "Merger"). On April 27, 2022, both sides agreed to amend the agreement (the "Amendment"). Under the Amendment, the Company and Flagstar have agreed to extend the merger termination date to October 31, 2022 . In connection with the extension, both parties amended the merger agreement to provide that the combined company's ongoing banking operations will seek to operate under a national bank charter. Under the Amendment, the only bank regulatory approvals required to consummate the merger are the OCC and the FRB. New York State Department of Financial Services Approves Flagstar Bancorp, Inc. Merger On April 27, 2022, the NYSDFS notified the Company that it had approved its pending merger with Flagstar Bancorp, Inc. Notwithstanding this approval, both parties announced that the combined organization will seek to operate under a national bank charter.

Legal Proceedings

Legal Proceedings	3 Months Ended
	Mar. 31, 2022
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, and those four lawsuits have since been resolved and dismissed. 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. Two of the lawsuits against NYCB have been voluntarily dismissed, without prejudice. In the two remaining actions, none of the NYCB defendants has been served with the complaint, and NYCB believes that these claims are without merit.

Organization, Basis of Presen_2

Organization, Basis of Presentation, and Impact of Recent Accounting Pronouncements (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Organization	Organization New York Community Bancorp, Inc. (on a stand-alone basis, the “Parent Company” or, collectively with its subsidiaries, the “Company”) was organized under Delaware law on July 20, 1993 and is the holding company for New York Community Bank (hereinafter referred to as the “Bank”). Founded on April 14, 1859 and formerly known as Queens County Savings Bank, the Bank converted from a state-chartered mutual savings bank to the capital stock form of ownership on November 23, 1993, at which date the Company issued its initial offering of common stock (par value: $ 0.01 per share) at a price of $ 25.00 per share ($ 0.93 per share on a split-adjusted basis, reflecting the impact of nine stock splits between 1994 and 2004 ). The Bank currently operates 237 branches, 18 of which operate directly under the New York Community Bank name. The remaining 219 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. 2022-01—Derivatives and Hedging (Topic 815): Fair Value Hedging-Portfolio Layer Method in the first quarter of 2022 upon issuance. The amendments expand the current last-of-layer method of hedge accounting that permits only one hedged layer to allow multiple hedged layers of a single closed portfolio. To reflect that expansion, the last-of-layer method is renamed the portfolio layer method. In addition, the amendments expand the scope of the portfolio layer method to include non-prepayable assets; specify eligible hedging instruments in a single-layer hedge; provide additional guidance on the accounting for and disclosure of hedge basis adjustments; specify how hedge basis adjustments should be considered when determining credit losses for the assets included in the closed portfolio. To date, the guidance has not had any impact on the Company’s Consolidated Statements of Condition, results of operations, or cash flows.

Computation of Earnings per C_2

Computation of Earnings per Common Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Computation of Basic and Diluted EPS	The following table presents the Company’s computation of basic and diluted EPS for the periods indicated: For the Three Months Ended March 31, (in millions, except share and per share amounts) 2022 2021 Net income available to common stockholders $ 147 $ 137 Less: Dividends paid on and earnings allocated ( 2 ) ( 2 ) Earnings applicable to common stock $ 145 $ 135 Weighted average common shares outstanding 465,138,238 463,292,906 Basic earnings per common share $ 0.31 $ 0.29 Earnings applicable to common stock $ 145 $ 135 Weighted average common shares outstanding 465,138,238 463,292,906 Potential dilutive common shares 808,525 594,031 Total shares for diluted earnings per common 465,946,763 463,886,937 Diluted earnings per common share and $ 0.31 $ 0.29

Reclassifications Out of Accu_2

Reclassifications Out of Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2022
Reclassifications Of Accumulated Other Comprehensive Loss [Abstract]
Reclassifications Out of Accumulated Other Comprehensive Loss	(in millions) For the Three Months Ended March 31, 2022 Details about Amount (1) Affected Line Item in the Unrealized gains on available-for-sale $ - Net gain on securities - Income tax expense $ - Net gain on securities, net of tax Unrealized loss on cash flow hedges: $ ( 6 ) Interest expense 2 Income tax benefit $ ( 4 ) Net loss on cash flow hedges, net of tax Amortization of defined benefit pension Past service liability $ - Included in the computation of net periodic credit (2) Actuarial losses - Included in the computation of net periodic cost (2) - Total before tax - Income tax benefit $ - Amortization of defined benefit pension plan items, net of tax Total reclassifications for the period $ ( 4 ) (1) Amounts in parentheses indicate expense items. (2) See Note 8, “Pension and Other Post-Retirement Benefits,” for additional information.

Securities (Tables)

Securities (Tables)	3 Months Ended
	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Summary of Portfolio of Securities Available for Sale	The following tables summarize the Company’s portfolio of debt securities available for sale and equity investments with readily determinable fair values at March 31, 2022 and December 31, 2021: March 31, 2022 (in millions) Amortized Gross Gross Fair Debt securities available-for-sale Mortgage-Related Debt Securities: GSE certificates $ 1,126 $ 3 $ 66 $ 1,063 GSE CMOs 1,680 1 128 1,553 Total mortgage-related debt securities $ 2,806 $ 4 $ 194 $ 2,616 Other Debt Securities: U. S. Treasury obligations $ 144 $ — $ — $ 144 GSE debentures 1,524 1 152 1,373 Asset-backed securities (1) 461 1 6 456 Municipal bonds 25 — 1 24 Corporate bonds 881 8 11 878 Foreign notes 25 1 — 26 Capital trust notes 96 6 7 95 Total other debt securities $ 3,156 $ 17 $ 177 $ 2,996 Total debt securities available for sale $ 5,962 $ 21 $ 371 $ 5,612 Equity securities: Mutual funds $ 16 $ — $ 1 $ 15 Total equity securities $ 16 $ — $ 1 $ 15 Total securities (2) $ 5,978 $ 21 $ 372 $ 5,627 (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. December 31, 2021 (in millions) Amortized Gross Gross Fair Debt securities available-for-sale Mortgage-Related Debt Securities: GSE certificates $ 1,102 $ 20 $ 15 $ 1,107 GSE CMOs 1,717 11 45 1,683 Total mortgage-related debt securities $ 2,819 $ 31 $ 60 $ 2,790 Other Debt Securities: U. S. Treasury obligations $ 45 $ — $ — $ 45 GSE debentures 1,524 1 45 1,480 Asset-backed securities (1) 479 3 3 479 Municipal bonds 25 — — 25 Corporate bonds 821 18 1 838 Foreign Notes 25 1 — 26 'Capital trust notes 96 8 7 97 Total other debt securities $ 3,015 $ 31 $ 56 $ 2,990 Total other securities available for sale $ 5,834 $ 62 $ 116 $ 5,780 Equity securities: Mutual funds $ 16 $ — $ — $ 16 Total equity securities $ 16 $ — $ — $ 16 Total securities (2) $ 5,850 $ 62 $ 116 $ 5,796 (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 Amortized Cost of Available-for-Sale Securities by Contractual Maturity	The following table summarizes, by contractual maturity, the amortized cost of securities at March 31, 2022: Mortgage- U.S. State, Other (1) Fair (dollars in millions) Available-for-Sale Debt Due within one year $ 30 $ 144 $ — $ 5 $ 179 Due from one to five years 131 22 — 458 620 Due from five to ten years 267 673 19 519 1,395 Due after ten years 2,378 829 6 481 3,418 Total debt securities available $ 2,806 $ 1,668 $ 25 $ 1,463 $ 5,612 (1) 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 March 31, 2022: Less than Twelve Months Twelve Months or Longer Total (in millions) Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Temporarily Impaired Securities: U. S. Treasury obligations $ 144 $ — $ — $ — $ 144 $ — U.S. Government agency and GSE obligations 313 27 1,037 125 1,350 152 GSE certificates 598 31 259 34 857 65 GSE CMOs 792 41 647 88 1,439 129 Asset-backed securities 188 3 128 3 316 6 Municipal bonds — — 7 1 7 1 Corporate bonds 313 9 99 1 412 10 Foreign notes 5 — — — 5 — Capital trust notes 47 1 37 7 84 8 Equity securities 4 — 11 1 15 1 Total temporarily impaired $ 2,404 $ 112 $ 2,225 $ 260 $ 4,629 $ 372 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, 2021: Less than Twelve Months Twelve Months or Longer Total (in millions) Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Temporarily Impaired Securities: U. S. Treasury obligations $ 45 $ — $ — $ — $ 45 $ — U.S. Government agency and GSE obligations 317 7 185 8 502 15 GSE certificates 846 28 293 17 1,139 45 GSE CMOs 491 8 926 37 1,417 45 Asset-backed securities 130 1 135 2 265 3 Municipal bonds — — 8 — 8 — Corporate bonds — — 99 1 99 1 Foreign notes 5 — — — 5 — Capital trust notes — — 37 7 37 7 Equity securities 12 — — — 12 — Total temporarily impaired $ 1,846 $ 44 $ 1,683 $ 72 $ 3,529 $ 116

Loans and Leases (Tables)

Loans and Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Receivables [Abstract]
Composition of Loan and Lease Portfolio	The following table sets forth the composition of the loan portfolio at the dates indicated: March 31, 2022 December 31, 2021 (dollars in millions) Amount Percent of Amount Percent of Loans and Leases Held for Investment: Mortgage Loans: Multi-family $ 35,751 76.55 % $ 34,603 75.75 % Commercial real estate 6,701 14.35 6,698 14.66 One-to-four family 145 0.31 160 0.35 Acquisition, development, and construction 237 0.51 209 0.46 Total mortgage loans held for investment (1) 42,834 91.72 41,670 91.22 Other Loans: Commercial and industrial 2,200 4.71 2,236 4.89 Lease financing, net of unearned income 90 and $ 95 respectively 1,663 3.57 1,770 3.88 Total commercial and industrial loans (2) 3,863 8.27 4,006 8.77 Other 6 0.01 5 0.01 Total other loans held for investment 3,869 8.28 4,011 8.78 Total loans and leases held for investment (1) $ 46,703 100.00 % $ 45,681 100.00 % Net deferred loan origination costs 55 57 Allowance for loan and lease losses ( 197 ) ( 199 ) Total loans and leases, net $ 46,561 $ 45,539 (1) Excludes accrued interest receivable of $ 200 million and $ 199 million at March 31, 2022 and December 31, 2021 , respectively, which is included in other assets in the Consolidated Statements of Condition. (2) Includes specialty finance loans and leases of $ 3.3 billion and $ 3.5 billion, respectively, at March 31, 2022 and December 31, 2021 , and other C&I loans of $ 548 million and $ 527 million, respectively, at March 31, 2022 and December 31, 2021 .
Quality of Loans Held for Investment	The following table presents information regarding the quality of the Company’s loans held for investment at March 31, 2022: (in millions) Loans Non- Loans 90 Total Current Total Multi-family $ 23 $ 22 $ — $ 45 $ 35,706 $ 35,751 Commercial real estate 4 35 — 39 6,662 6,701 One-to-four family 7 — — 7 138 145 Acquisition, development, and — — — — 237 237 Commercial and industrial (1) (2) — 6 — 6 3,857 3,863 Other — — — — 6 6 Total $ 34 $ 63 $ — $ 97 $ 46,606 $ 46,703 (1) Includes $ 5 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, 2021: (in millions) Loans Non- Loans 90 Total Current Total Multi-family $ 57 $ 10 $ — $ 67 $ 34,536 $ 34,603 Commercial real estate 2 16 — 18 6,680 6,698 One-to-four family 8 1 — 9 151 160 Acquisition, development, and — — — — 209 209 Commercial and industrial (1) (2) — 6 — 6 4,000 4,006 Other — — — — 5 5 Total $ 67 $ 33 $ — $ 100 $ 45,581 $ 45,681 (1) Includes $ 6 million of taxi medallion-related loans that were 90 days or more past due. There were no taxi medallion-related loans that were 30 to 89 days past due. (2) Includes lease financing receivables, all of which were current.
Portfolio of Loans Held for Investment by Credit Quality Indicator	The following table summarizes the Company’s portfolio of loans held for investment by credit quality indicator at March 31, 2022. Mortgage Loans Other Loans (in millions) Multi- Commercial One-to- Acquisition, Total Commercial (1) Other Total Credit Quality Indicator: Pass $ 34,087 $ 5,951 $ 122 $ 233 $ 40,393 $ 3,858 $ 6 $ 3,864 Special mention 998 577 23 4 1,602 — — — Substandard 666 173 — — 839 5 — 5 Doubtful — — — — — — — — Total $ 35,751 $ 6,701 $ 145 $ 237 $ 42,834 $ 3,863 $ 6 $ 3,869 (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, 2021: Mortgage Loans Other Loans (in millions) Multi- Commercial One-to- Acquisition, Total Commercial (1) Other Total Credit Quality Indicator: Pass $ 33,011 $ 5,874 $ 137 $ 204 $ 39,226 $ 3,959 $ 5 $ 3,964 Special mention 981 643 14 5 1,643 2 — 2 Substandard 611 181 9 — 801 45 — 45 Doubtful — — — — — — — — Total $ 34,603 $ 6,698 $ 160 $ 209 $ 41,670 $ 4,006 $ 5 $ 4,011 (1) Includes lease financing receivables, all of which were classified as Pass.
Schedule of Credit Quality Indicator, Loan Class, and Year of Origination, the Amortized Cost Basis of Loans and Leases	The following table presents, by credit quality indicator, loan class, and year of origination, the amortized cost basis of the Company’s loans and leases as of March 31, 2022. Vintage Year (in millions) 2022 2021 2020 2019 2018 Prior To Revolving Total Pass $ 2,688 $ 9,299 $ 9,159 $ 5,417 $ 4,348 $ 9,491 $ 18 $ 40,420 Special Mention — — 70 230 343 959 1 1,603 Substandard — — 39 147 176 477 — 839 Total mortgage loans $ 2,688 $ 9,299 $ 9,268 $ 5,794 $ 4,867 $ 10,927 $ 19 $ 42,862 Pass 115 836 608 496 81 309 1,446 3,891 Special Mention — — — — — — — — Substandard — — 2 1 1 1 — 5 Total other loans 115 836 610 497 82 310 1,446 3,896 Total $ 2,803 $ 10,135 $ 9,878 $ 6,291 $ 4,949 $ 11,237 $ 1,465 $ 46,758
Summary of Collateral-Dependent Loans Held for Investment by Collateral Type	The following table summarizes the extent to which collateral secures the Company’s collateral-dependent loans held for investment by collateral type as of March 31, 2022. Collateral Type (in millions) Real Other Multi-family $ 19 $ — Commercial real estate 49 — One-to-four family — — Acquisition, development, and construction — — Commercial and industrial — 5 Other — — Total collateral-dependent loans held for investment 68 5
Information Regarding Troubled Debt Restructurings	The following table presents information regarding the Company's TDRs as of March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 (in millions) Accruing Non- Total Accruing Non- Total Loan Category: Multi-family $ — $ 7 $ 7 $ — $ 7 $ 7 Commercial real estate 16 19 35 16 — 16 One-to-four family — — — — — — Acquisition, development, and — — — — — — Commercial and industrial (1) — 5 5 — 6 6 Total $ 16 $ 31 $ 47 $ 16 $ 13 $ 29 (1) Includes $ 5 million and $ 6 million of taxi medallion-related loans at March 31, 2022 and December 31, 2021 , respectively.
Financial Effects of Troubled Debt Restructurings	The financial effects of the Company’s TDRs for the three months ended March 31, 2022 and 2021 are summarized as follows: For the Three Months Ended March 31, 2022 Weighted Average (dollars in millions) Number Pre- Post- Pre- Post- Charge- Capitalized Loan Category: Commercial real estate 1 $ 22 $ 19 6.00 % 4.00 % $ 3 $ — For the Three Months Ended March 31, 2021 Weighted Average (dollars in millions) Number Pre- Post- Pre- Post- Charge- Capitalized Loan Category: Multi-family 1 $ 8 $ 8 3.13 % 3.25 % $ — $ —

Allowance for Credit Losses o_2

Allowance for Credit Losses on Loans and Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Summary of Additional Information about Nonaccrual Loans	The following table presents additional information about the Company’s nonaccrual loans at March 31, 2022: (in millions) Recorded Related Interest Nonaccrual loans with no related allowance: Multi-family $ 19 $ — $ — Commercial real estate 33 — — One-to-four family — — — Acquisition, development, and construction — — — Other 6 — — Total nonaccrual loans with no related allowance $ 58 $ — $ — Nonaccrual loans with an allowance recorded: Multi-family $ 3 $ 1 $ — Commercial real estate 2 — — One-to-four family — — — Acquisition, development, and construction — — — Other — — — Total nonaccrual loans with an allowance recorded $ 5 $ 1 $ — Total nonaccrual loans: Multi-family $ 22 $ 1 $ — Commercial real estate 35 — — One-to-four family — — — Acquisition, development, and construction — — — Other 6 — — Total nonaccrual loans $ 63 $ 1 $ — The following table presents additional information about the Company’s nonaccrual loans at December 31, 2021: (in millions) Recorded Related Interest Nonaccrual loans with no related allowance: Multi-family $ 9 $ — $ 1 Commercial real estate 14 — — One-to-four family — — — Acquisition, development, and construction — — — Other 6 — — Total nonaccrual loans with no related allowance $ 29 $ — $ 1 Nonaccrual loans with an allowance recorded: Multi-family $ 1 $ — $ — Commercial real estate 2 — — One-to-four family 1 — — Acquisition, development, and construction — — — Other — — — Total nonaccrual loans with an allowance recorded $ 4 $ — $ — Total nonaccrual loans: Multi-family $ 10 $ — $ 1 Commercial real estate 16 — — One-to-four family 1 — — Acquisition, development, and construction — — — Other 6 — — Total nonaccrual loans $ 33 $ — $ 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 Three Months Ended March 31, 2022 2021 (in millions) Mortgage Other Total Mortgage Other Total Balance, beginning of period $ 178 $ 21 $ 199 $ 176 $ 18 $ 194 Charge-offs ( 3 ) — ( 3 ) ( 1 ) ( 3 ) ( 4 ) Recoveries — 2 2 — 5 5 Provision for (recovery of) credit 1 ( 2 ) ( 1 ) 1 2 3 Balance, end of period $ 176 $ 21 $ 197 $ 176 $ 22 $ 198

Borrowed Funds (Tables)

Borrowed Funds (Tables)	3 Months Ended
	Mar. 31, 2022
Summary of Borrowed Funds	The following table summarizes the Company’s borrowed funds at the dates indicated: March 31, December 31, (in millions) 2022 2021 Wholesale borrowings: FHLB advances $ 13,880 $ 15,105 Repurchase agreements 800 800 Total wholesale borrowings $ 14,680 $ 15,905 Junior subordinated debentures 361 361 Subordinated notes 296 296 Total borrowed funds $ 15,337 $ 16,562
Summary of Repurchase Agreements Accounted for Secured Borrowings	The following table summarizes the Company’s repurchase agreements accounted for as secured borrowings at March 31, 2022: 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 March 31, 2022: Issuer Interest Rate Junior Capital Date of Stated First Optional (dollars in millions) New York Community Capital SM Units) 6.00 % $ 147 $ 140 Nov. 4, 2002 Nov. 1, 2051 Nov. 4, 2007 (1) New York Community Capital 2.43 124 120 Dec. 14, 2006 Dec. 15, 2036 Dec. 15, 2011 (2) PennFed Capital Trust III 4.08 31 30 June 2, 2003 June 15, 2033 June 15, 2008 (2) New York Community Capital 2.65 59 58 April 16, 2007 June 30, 2037 June 30, 2012 (2) Total junior subordinated debentures $ 361 $ 348 (1) Callable subject to certain conditions as described in the prospectus filed with the SEC on November 4, 2002. (2) Callable from this date forward.
Subordinated Debt
Junior Subordinated Debentures Outstanding	At March 31, 2022 and December 31, 2021 , the Company had $ 296 million of fixed-to-floating rate subordinated notes outstanding: Date of Original Issue Stated Maturity Interest Rate (1) Original Issue 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)	3 Months Ended
	Mar. 31, 2022
Retirement Benefits, Description [Abstract]
Pension and Post-Retirement Plans	The following table sets forth certain disclosures for the Company’s pension and post-retirement plans for the periods indicated: For the Three Months Ended March 31, 2022 2021 Post Post Pension Retirement Pension Retirement (in millions) Benefits Benefits Benefits Benefits Components of net periodic pension expense (credit): Interest cost $ 1 $ — $ 1 $ — Expected return on plan assets ( 4 ) — ( 4 ) — Amortization of net actuarial loss — — 2 — Net periodic (credit) expense $ ( 3 ) $ — $ ( 1 ) $ — (1) Amounts are included in G&A expense on the Consolidated Statements of Income and Comprehensive Income. (2) Post-retirement benefits balances round to zero.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Summary of Activity for Restricted Stock Awards	The following table provides a summary of activity with regard to restricted stock awards in the three months ended March 31, 2022: For the Three Months Ended Number of Shares Weighted Unvested at beginning of year 6,950,335 $ 11.68 Granted 2,859,342 11.78 Vested ( 2,150,196 ) 12.29 Canceled ( 44,519 ) 11.53 Unvested at end of year 7,614,962 11.55
Summary of Activity for Performance-Based Restricted Stock Units	The following table provides a summary of activity with regard to Performance-Based Restricted Stock Units ("PSUs") in the three months ended March 31, 2022: Number of Performance Expected Outstanding at beginning of year 834,612 Granted — Released ( 176,090 ) Canceled ( 58,696 ) Outstanding at end of period 599,826 January 1, 2021 - December 31, 2023 March 31, 2023 and 2024

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring Basis	The following tables present assets and liabilities that were measured at fair value on a recurring basis as of March 31, 2022 and December 31, 2021, and that were included in the Company’s Consolidated Statements of Condition at those dates: Fair Value Measurements at March 31, 2022 (in millions) Quoted Significant Significant Total Assets: Mortgage-related Debt Securities GSE certificates $ — $ 1,063 $ — $ 1,063 GSE CMOs — 1,553 — 1,553 Total mortgage-related debt securities $ — $ 2,616 $ — $ 2,616 Other Debt Securities Available for Sale: U. S. Treasury obligations $ 144 - $ — $ 144 GSE debentures — 1,373 — 1,373 Asset-backed securities — 456 — 456 Municipal bonds — 24 — 24 Corporate bonds — 878 — 878 Foreign notes — 26 — 26 Capital trust notes — 95 — 95 Total other debt securities $ 144 $ 2,852 $ — $ 2,996 Total debt securities available for sale $ 144 $ 5,468 $ — $ 5,612 Equity securities: Preferred stock $ — $ — $ — $ — Mutual funds and common stock — 15 — 15 Total equity securities $ — $ 15 $ — $ 15 Total securities $ 144 $ 5,483 $ — $ 5,627 Fair Value Measurements at December 31, 2021 (in millions) Quoted Significant Significant Total Assets: Mortgage-Related Debt Securities GSE certificates $ — $ 1,107 $ — $ 1,107 GSE CMOs — 1,683 — 1,683 Total mortgage-related debt securities $ — $ 2,790 $ — $ 2,790 Other Debt Securities Available U.S. Treasury obligations $ 45 $ — $ — $ 45 GSE debentures — 1,480 — 1,480 Asset-backed securities — 479 — 479 Municipal bonds — 25 — 25 Corporate bonds — 838 — 838 Foreign notes — 26 — 26 Capital trust notes — 97 — 97 Total other debt securities $ 45 $ 2,945 $ — $ 2,990 Total debt securities available for sale $ 45 $ 5,735 $ — $ 5,780 Equity securities: — Preferred stock $ — $ — $ — $ — Mutual funds and common stock — 16 — 16 Total equity securities $ — $ 16 $ — $ 16 Total securities $ 45 $ 5,751 $ — $ 5,796
Summary of Carrying Values, Estimated Fair Values and Fair Value Measurement Levels of Financial Instruments	The following tables present assets and liabilities that were measured at fair value on a non-recurring basis as of March 31, 2022 and December 31, 2021, and that were included in the Company’s Consolidated Statements of Condition at those dates: Fair Value Measurements at March 31, 2022 Using (in millions) Quoted Prices Significant Significant Total Fair Certain loans (1) $ — $ — $ 25 $ 25 Other assets (2) — — 31 31 Total $ — $ — $ 56 $ 56 (1) Represents the fair value 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, 2021 Using (in millions) Quoted Prices Significant Significant Total Fair Certain loans (1) $ — $ — $ 32 $ 32 Other assets (2) — — 32 32 Total $ — $ — $ 64 $ 64 (1) Represents the fair value based on the value of the collateral. Represents the fair value of repossessed assets, based on the appraised value of the collateral subsequent to its initial classification as repossessed assets and equity investments without readily determinable fair values. These equity investments are classified as Level 3 due to the infrequency of the observable prices and/or the restrictions on the shares.
Assets and Liabilities Measured at Fair Value on Non-Recurring Basis	The following tables summarize the carrying values, estimated fair values, and fair value measurement levels of financial instruments that were not carried at fair value on the Company’s Consolidated Statements of Condition at March 31, 2022 and December 31, 2021: March 31, 2022 Fair Value Measurement Using (in millions) Carrying Estimated Quoted Prices Significant Significant Financial Assets: Cash, cash equivalents and due from banks $ 2,900 $ 2,900 $ 2,900 $ — $ — FHLB stock (1) 679 679 — 679 — Loans and leases, net 46,561 44,959 — — 44,959 Financial Liabilities: Deposits $ 37,954 $ 37,883 $ 30,065 (2) $ 7,818 (3) $ — Borrowed funds 15,337 15,577 — 15,577 — (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, 2021 Fair Value Measurement Using (in millions) Carrying Estimated Quoted Prices Significant Significant Financial Assets: Cash, cash equivalents and due from banks $ 2,211 $ 2,211 $ 2,211 $ — $ — FHLB stock (1) 734 734 — 734 — Loans and leases, net 45,539 44,748 — — 44,748 Financial Liabilities: Deposits $ 35,059 $ 35,051 $ 26,635 (2) $ 8,416 (3) $ — Borrowed funds 16,562 17,169 — 17,169 — (1) Carrying value and estimated fair value are at cost. (2) Interest-bearing checking and money market accounts, savings accounts, and non-interest-bearing accounts. (3) Certificates of deposit.

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Components of Lease Income	The components of lease income were as follows: (in millions) For the For the Interest income on lease financing (1) $ 12 $ 14 (1) Included in Interest Income – Loans and leases in the Consolidated Statements of Income and Comprehensive Income.
Components of Net Investment in Direct Financing Leases	The components of net investment in direct financing leases, including the carrying amount of the lease receivables, as well as the unguaranteed residual asset were as follows: (in millions) March 31, December 31, Net investment in the lease - lease payments receivable $ 1,680 $ 1,790 Net investment in the lease - unguaranteed residual assets 73 75 Total lease payments $ 1,753 $ 1,865
Summary of Remaining Maturity of Undiscounted Lease Receivables	The following table presents the remaining maturity analysis of the undiscounted lease receivables as of March 31, 2022, as well as the reconciliation to the total amount of receivables recognized in the Consolidated Statements of Condition: (in millions) March 31, 2022 $ 10 2023 196 2024 247 2025 344 2026 382 Thereafter 574 Total lease payments 1,753 Plus: deferred origination costs 23 Less: unearned income ( 90 ) Total lease finance receivables, net $ 1,686
Summary of Components of Lease Expense	The components of lease expense were as follows: (in millions) For the Three For the Three Operating lease cost $ 7 $ 7 Sublease income — — Total lease cost $ 7 $ 7
Summary of Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to the leases for the following periods: (in millions) For the Three For the Three Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 7 $ 7
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) March 31, December 31, Operating Leases: Operating lease right-of-use assets $ 243 $ 249 Operating lease liabilities $ 243 $ 249 Weighted average remaining lease term 15 years 16 years Weighted average discount rate% 3.26 % 3.05 %
Summary of Maturities of Lease Liabilities	(in millions) March 31, 2022 $ 20 2023 26 2024 25 2025 24 2026 23 Thereafter 194 Total lease payments 312 Less: imputed interest ( 69 ) Total present value of lease liabilities $ 243

Derivative and Hedging Activi_2

Derivative and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Cumulative Basis Adjustment for Fair Value Hedges	As of March 31, 2022, and December 31, 2021 the following amounts were recorded on the balance sheet related to cumulative basis adjustment for fair value hedges: (in millions) March 31, 2022 December 31, 2021 Line Item in the Consolidated Statements of Carrying Cumulative Carrying Cumulative Total loans and leases, net (1) $ - $ - $ 2,025 $ 25 (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. Since the swap expired in February 2022, at March 31, 2022 , the amortized cost basis of the closed portfolios used in these hedging relationships; the cumulative basis adjustments associated with these hedging relationships; and the amount of the designated hedged items were $ 0 .
Effect of Derivative Instruments on Consolidated Statements of Income and Comprehensive Income	The following table sets forth the effect of derivative instruments on the Consolidated Statements of Income and Comprehensive Income for the periods indicated. (in millions) For the Three For the Three Derivative – interest rate swap: Interest income $ 25 $ 25 Hedged item – loans: Interest income $ ( 25 ) $ ( 25 )
Information about Interest Rate Swaps Designated as Cash Flow Hedges	The following table summarizes information about the interest rate swaps designated as cash flow hedges at March 31, 2022 and December 31, 2021: (dollars in millions) March 31, December 31, Notional amounts $ 2,050 $ 2,250 Cash collateral received (posted) 9 ( 12 ) Weighted average pay rates 1.34 % 1.27 % Weighted average receive rates 0.61 % 0.18 % Weighted average maturity 0.7 years 0.9 years
Effect of Cash Flow Derivative Instruments on AOCL	The following table presents the effect of the Company's cash flow derivative instruments on AOCL for the three months ended March 31, 2022 and 2021: (in millions) For the Three For the Three Amount of (loss) gain recognized in AOCL $ 16 $ 5 Amount of reclassified from AOCL to interest expense 6 6

Organization, Basis of Presen_3

Organization, Basis of Presentation, and Impact of Recent Accounting Pronouncements - Additional Information (Details)	3 Months Ended
	Mar. 31, 2022Branch$ / shares	Dec. 31, 2021$ / 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	237
New York Community Bank | Corporate Segment
Organization and Basis of Presentation [Line Items]
Number of branches | Branch	18
New York Community Bank | Corporate and Other
Organization and Basis of Presentation [Line Items]
Number of branches | Branch	219
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
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Net income available to common shareholders	$ 147	$ 137
Less: Dividends paid on and earnings allocated to participating securities	(2)	(2)
Earnings applicable to common stock	$ 145	$ 135
Weighted average common shares outstanding	465,138,238	463,292,906
Basic earnings per common share	$ 0.31	$ 0.29
Earnings applicable to common stock	$ 145	$ 135
Potential dilutive common shares	808,525	594,031
Total shares for diluted earnings per common share computation	465,946,763	463,886,937
Diluted earnings per common share and common share equivalents	$ 0.31	$ 0.29

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
		Mar. 31, 2022	Mar. 31, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax benefit		$ 52	$ 51
Net income		155	145
Interest expense		97	$ 105
Reclassifications, net of tax	[1]	(4)
Past service liability
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassifications, before tax	[1],[2]	0
Actuarial losses
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassifications, before tax	[1],[2]	0
Amortization of defined benefit pension
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassifications, before tax	[1]	0
Income tax benefit	[1]	0
Reclassifications, net of tax	[1]	0
Reclassification out of Accumulated Other Comprehensive Income (loss) | Unrealized gains on available-for-sale securities
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net gain on securities	[1]	0
Income tax benefit	[1]	0
Net income	[1]	0
Reclassification out of Accumulated Other Comprehensive Income (loss) | Unrealized gains on cash flow hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax benefit	[1]	2
Net income	[1]	(4)
Interest expense	[1]	$ (6)
[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	3 Months Ended
	Mar. 31, 2022		Dec. 31, 2021
Schedule of Available-for-sale Securities [Line Items]
Fair Value	$ 5,612		$ 5,780
Equity Securities, Fair Value	15		16
Total Securities, Amortized Cost	5,978	[1]	5,850	[2]
Total Securities, Gross Unrealized Gain	21	[1]	62	[2]
Total Securities, Gross Unrealized Loss	372	[1]	116	[2]
Total Securities, Fair Value	5,627	[1]	5,796	[2]
Mortgage-Related Securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	2,806		2,819
Gross Unrealized Gain	4		31
Gross Unrealized Loss	194		60
Fair Value	2,616		2,790
Mortgage-Related Securities | GSE Certificates
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,126		1,102
Gross Unrealized Gain	3		20
Gross Unrealized Loss	66		15
Fair Value	1,063		1,107
Mortgage-Related Securities | GSE CMOs
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,680		1,717
Gross Unrealized Gain	1		11
Gross Unrealized Loss	128		45
Fair Value	1,553		1,683
Debt Securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	3,156		3,015
Gross Unrealized Gain	17		31
Gross Unrealized Loss	177		56
Fair Value	2,996		2,990
Debt Securities | U.S. Treasury Obligations
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	144		45
Fair Value	144		45
Debt Securities | GSE Debentures
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,524		1,524
Gross Unrealized Gain	1		1
Gross Unrealized Loss	152		45
Fair Value	1,373		1,480
Debt Securities | Asset-backed Securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	461	[3]	479	[4]
Gross Unrealized Gain	1	[3]	3	[4]
Gross Unrealized Loss	6	[3]	3	[4]
Fair Value	456	[3]	479	[4]
Debt Securities | Municipal Bonds
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	25		25
Gross Unrealized Loss	1
Fair Value	24		25
Debt Securities | Corporate Bonds
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	881		821
Gross Unrealized Gain	8		18
Gross Unrealized Loss	11		1
Fair Value	878		838
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	6		8
Gross Unrealized Loss	7		7
Fair Value	95		97
Mortgage Backed Securities And Other Securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	5,962		5,834
Gross Unrealized Gain	21		62
Gross Unrealized Loss	371		116
Fair Value	5,612		5,780
Equity Securities
Schedule of Available-for-sale Securities [Line Items]
Equity Securities, Amortized Cost	16		16
Equity Securities, Gross Unrealized Loss	1
Equity Securities, Fair Value	15		16
Equity Securities | Mutual Funds
Schedule of Available-for-sale Securities [Line Items]
Equity Securities, Amortized Cost	16		16
Equity Securities, Gross Unrealized Loss	1
Equity Securities, Fair Value	$ 15		$ 16
[1]	Excludes accrued interest receivable of $ 15 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	Mar. 31, 2022	Dec. 31, 2021
Available-for-sale Securities
Schedule of Available-for-sale Securities [Line Items]
Accrued interest receivable	$ 15	$ 15

Securities - Additional Informa

Securities - Additional Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)Investment		Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)Investment
Schedule of Investments [Line Items]
Federal Home Loan Bank stock, at cost | $	$ 679	[1]		$ 734	[2]
Net losses on equity securities | $	$ 1		$ 0
Collateralized Mortgage Obligations
Schedule of Investments [Line Items]
Number of investment securities designated as having a continuous loss position for twelve months or more	11			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			4
Corporate Bonds
Schedule of Investments [Line Items]
Number of investment securities designated as having a continuous loss position for twelve months or more	2			2
U.S. Government Agency Bonds
Schedule of Investments [Line Items]
Number of investment securities designated as having a continuous loss position for twelve months or more	24			20
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
Mortgage-Related Securities
Schedule of Investments [Line Items]
Number of investment securities designated as having a continuous loss position for twelve months or more	31
Agency Mortgage-backed Securities
Schedule of Investments [Line Items]
Number of investment securities designated as having a continuous loss position for twelve months or more				21
Equity Securities
Schedule of Investments [Line Items]
Number of investment securities designated as having a continuous loss position for twelve months or more	1
[1]	Carrying value and estimated fair value are at cost.
[2]	Carrying value and estimated fair value are at cost.

Securities - Summary of Amortiz

Securities - Summary of Amortized Cost of Available-for-Sale Securities by Contractual Maturity (Details) - USD ($) $ in Millions		Mar. 31, 2022	Dec. 31, 2021
Available-for-Sale Debt Securities:
Due within one year, fair value		$ 179
Due from one to five years, fair value		620
Due from five to ten years, fair value		1,395
Due after ten years, fair value		3,418
Fair Value		5,612	$ 5,780
Mortgage-Related Securities
Available-for-Sale Debt Securities:
Due within one year		30
Due from one to five years		131
Due from five to ten years		267
Due after ten years		2,378
Amortized Cost		2,806
U.S. Government and GSE obligations
Available-for-Sale Debt Securities:
Due within one year		144
Due from one to five years		22
Due from five to ten years		673
Due after ten years		829
Amortized Cost		1,668
State, County, and Municipal
Available-for-Sale Debt Securities:
Due from five to ten years		19
Due after ten years		6
Amortized Cost		25
Other Debt Securities
Available-for-Sale Debt Securities:
Due within one year	[1]	5
Due from one to five years	[1]	458
Due from five to ten years	[1]	519
Due after ten years	[1]	481
Amortized Cost	[1]	$ 1,463
[1]	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	Mar. 31, 2022	Dec. 31, 2021
Schedule of Investments [Line Items]
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Fair Value	$ 2,404	$ 1,846
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Unrealized Loss	112	44
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Fair Value	2,225	1,683
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Unrealized Loss	260	72
Temporarily Impaired Available-for-Sale Securities, Total Fair Value	4,629	3,529
Temporarily Impaired Available-for-Sale Securities, Total Unrealized Loss	372	116
Debt Securities | U.S. Treasury Obligations
Schedule of Investments [Line Items]
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Fair Value	144	45
Temporarily Impaired Available-for-Sale Securities, Total Fair Value	144	45
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	313	317
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Unrealized Loss	27	7
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Fair Value	1,037	185
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Unrealized Loss	125	8
Temporarily Impaired Available-for-Sale Securities, Total Fair Value	1,350	502
Temporarily Impaired Available-for-Sale Securities, Total Unrealized Loss	152	15
Debt Securities | GSE Certificates
Schedule of Investments [Line Items]
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Fair Value	598	846
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Unrealized Loss	31	28
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Fair Value	259	293
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Unrealized Loss	34	17
Temporarily Impaired Available-for-Sale Securities, Total Fair Value	857	1,139
Temporarily Impaired Available-for-Sale Securities, Total Unrealized Loss	65	45
Debt Securities | GSE CMOs
Schedule of Investments [Line Items]
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Fair Value	792	491
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Unrealized Loss	41	8
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Fair Value	647	926
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Unrealized Loss	88	37
Temporarily Impaired Available-for-Sale Securities, Total Fair Value	1,439	1,417
Temporarily Impaired Available-for-Sale Securities, Total Unrealized Loss	129	45
Debt Securities | Asset-backed Securities
Schedule of Investments [Line Items]
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Fair Value	188	130
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Unrealized Loss	3	1
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Fair Value	128	135
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Unrealized Loss	3	2
Temporarily Impaired Available-for-Sale Securities, Total Fair Value	316	265
Temporarily Impaired Available-for-Sale Securities, Total Unrealized Loss	6	3
Debt Securities | Municipal Bonds
Schedule of Investments [Line Items]
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Fair Value	7	8
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Unrealized Loss	1
Temporarily Impaired Available-for-Sale Securities, Total Fair Value	7	8
Temporarily Impaired Available-for-Sale Securities, Total Unrealized Loss	1
Debt Securities | Corporate Bonds
Schedule of Investments [Line Items]
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Fair Value	313
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Unrealized Loss	9
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Fair Value	99	99
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Unrealized Loss	1	1
Temporarily Impaired Available-for-Sale Securities, Total Fair Value	412	99
Temporarily Impaired Available-for-Sale Securities, Total Unrealized Loss	10	1
Debt Securities | Foreign Notes
Schedule of Investments [Line Items]
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Fair Value	5	5
Temporarily Impaired Available-for-Sale Securities, Total Fair Value	5	5
Debt Securities | Capital Trust Notes
Schedule of Investments [Line Items]
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Fair Value	47
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Unrealized Loss	1
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Fair Value	37	37
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Unrealized Loss	7	7
Temporarily Impaired Available-for-Sale Securities, Total Fair Value	84	37
Temporarily Impaired Available-for-Sale Securities, Total Unrealized Loss	8	7
Equity Securities
Schedule of Investments [Line Items]
Temporarily Impaired Available-for-Sale Securities, Less than Twelve Months Fair Value	4	12
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Fair Value	11
Temporarily Impaired Available-for-Sale Securities, Twelve Months or Longer Unrealized Loss	1
Temporarily Impaired Available-for-Sale Securities, Total Fair Value	15	$ 12
Temporarily Impaired Available-for-Sale Securities, Total Unrealized Loss	$ 1

Loans and Leases - Composition

Loans and Leases - Composition of Loan and Lease Portfolio (Details) - USD ($) $ in Millions		Mar. 31, 2022		Dec. 31, 2021		Mar. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans	[1]	$ 46,703		$ 45,681
Non-Covered Loans, Percentage	[1]	100.00%		100.00%
Net deferred loan origination costs		$ 55		$ 57
Allowance for loan and lease losses		(197)		(199)		$ (198)	$ (194)
Total loans and leases, net		46,561		45,539
Multi-Family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		$ 35,751		$ 34,603
Non-Covered Loans, Percentage		76.55%		75.75%
Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		$ 6,701		$ 6,698
Non-Covered Loans, Percentage		14.35%		14.66%
One-to-Four Family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		$ 145		$ 160
Non-Covered Loans, Percentage		0.31%		0.35%
Acquisition, Development, and Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		$ 237		$ 209
Non-Covered Loans, Percentage		0.51%		0.46%
Mortgage Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans	[1]	$ 42,834		$ 41,670
Non-Covered Loans, Percentage	[1]	91.72%		91.22%
Allowance for loan and lease losses		$ (176)		$ (178)		$ (176)	$ (176)
Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans	[3]	$ 3,863	[2]	$ 4,006	[4]
Non-Covered Loans, Percentage	[3]	8.27%		8.77%
Commercial and Industrial | Other Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		$ 2,200		$ 2,236
Non-Covered Loans, Percentage		4.71%		4.89%
Lease Financing, Unearned Income
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		$ 1,663		$ 1,770
Non-Covered Loans, Percentage		3.57%		3.88%
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		$ 6		$ 5
Non-Covered Loans, Percentage		0.01%		0.01%
Total Other Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		$ 3,869		$ 4,011
Total Other Loans | Other Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		$ 3,869		$ 4,011
Non-Covered Loans, Percentage		8.28%		8.78%
[1]	Excludes accrued interest receivable of $ 200 million and $ 199 million at March 31, 2022 and December 31, 2021 , respectively, which is included in other assets in the Consolidated Statements of Condition.
[2]	Includes lease financing receivables, all of which were classified as Pass.
[3]	Includes specialty finance loans and leases of $ 3.3 billion and $ 3.5 billion, respectively, at March 31, 2022 and December 31, 2021 , and other C&I loans of $ 548 million and $ 527 million, respectively, at March 31, 2022 and December 31, 2021 .
[4]	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		Mar. 31, 2022		Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans	[1]	$ 46,703		$ 45,681
Other Assets
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable		200		199
Lease Financing, Unearned Income
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unearned income		90		95
Non-Covered Loans		1,663		1,770
Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans	[3]	3,863	[2]	4,006	[4]
Commercial and Industrial | Other Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		2,200		2,236
Commercial and Industrial | Specialty Finance Loans | Other Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		3,300		3,500
Commercial and Industrial | Other Commercial and Industrial Loans | Other Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered Loans		$ 548		$ 527
[1]	Excludes accrued interest receivable of $ 200 million and $ 199 million at March 31, 2022 and December 31, 2021 , respectively, which is included in other assets in the Consolidated Statements of Condition.
[2]	Includes lease financing receivables, all of which were classified as Pass.
[3]	Includes specialty finance loans and leases of $ 3.3 billion and $ 3.5 billion, respectively, at March 31, 2022 and December 31, 2021 , and other C&I loans of $ 548 million and $ 527 million, respectively, at March 31, 2022 and December 31, 2021 .
[4]	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
	Mar. 31, 2022USD ($)Investment	Mar. 31, 2021USD ($)Investment	Dec. 31, 2021USD ($)
Financing Receivable, Recorded Investment [Line Items]
Outstanding loans to Executive officers, directors, principal shareholders, related interest and parties	$ 6		$ 6
CARES act of 2020 aid, election description	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.
Commercial and Industrial
Financing Receivable, Recorded Investment [Line Items]
Number of financing receivable contracts modified as TDRs within previous 12 months, with payment default | Investment	0	17
Loan classified as non accrual TDRs		$ 2
Financing Receivable Troubled Debt Restructurings Rate Reductions
Financing Receivable, Recorded Investment [Line Items]
Loans and leases receivable, loans in process of foreclosure	$ 47

Loans and Leases - Quality of L

Loans and Leases - Quality of Loans Held for Investment (Details) - USD ($) $ in Millions		Mar. 31, 2022		Dec. 31, 2021		Mar. 31, 2021
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans Receivable	[1]	$ 46,703		$ 45,681
Multi-Family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans Receivable		35,751		34,603
Commercial Real Estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans Receivable		6,701		6,698
One-to-Four Family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans Receivable		145		160
Acquisition, Development, and Construction
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans Receivable		237		209
Commercial and Industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non- Accrual Loans						$ 2
Total Loans Receivable	[3]	3,863	[2]	4,006	[4]
Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans Receivable		6		5
Non-Covered Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non- Accrual Loans		63		33
Total Loans Receivable		46,703		45,681
Non-Covered Loans | Financing Receivable, 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans		34		67
Non-Covered Loans | Total Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans		97		100
Non-Covered Loans | Current Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans		46,606		45,581
Non-Covered Loans | Multi-Family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non- Accrual Loans		22		10
Total Loans Receivable		35,751		34,603
Non-Covered Loans | Multi-Family | Financing Receivable, 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans		23		57
Non-Covered Loans | Multi-Family | Total Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans		45		67
Non-Covered Loans | Multi-Family | Current Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans		35,706		34,536
Non-Covered Loans | Commercial Real Estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non- Accrual Loans		35		16
Total Loans Receivable		6,701		6,698
Non-Covered Loans | Commercial Real Estate | Financing Receivable, 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans		4		2
Non-Covered Loans | Commercial Real Estate | Total Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans		39		18
Non-Covered Loans | Commercial Real Estate | Current Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans		6,662		6,680
Non-Covered Loans | One-to-Four Family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non- Accrual Loans				1
Total Loans Receivable		145		160
Non-Covered Loans | One-to-Four Family | Financing Receivable, 30-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans		7		8
Non-Covered Loans | One-to-Four Family | Total Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans		7		9
Non-Covered Loans | One-to-Four Family | Current Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans		138		151
Non-Covered Loans | Acquisition, Development, and Construction
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans Receivable		237		209
Non-Covered Loans | Acquisition, Development, and Construction | Current Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans		237		209
Non-Covered Loans | Commercial and Industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non- Accrual Loans	[6]	6	[5]	6	[7]
Total Loans Receivable	[6]	3,863	[5]	4,006	[7]
Non-Covered Loans | Commercial and Industrial | Total Past Due Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	[6]	6	[5]	6	[7]
Non-Covered Loans | Commercial and Industrial | Current Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	[6]	3,857	[5]	4,000	[7]
Non-Covered Loans | Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans Receivable		6		5
Non-Covered Loans | Other | Current Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans		$ 6		$ 5
[1]	Excludes accrued interest receivable of $ 200 million and $ 199 million at March 31, 2022 and December 31, 2021 , respectively, which is included in other assets in the Consolidated Statements of Condition.
[2]	Includes lease financing receivables, all of which were classified as Pass.
[3]	Includes specialty finance loans and leases of $ 3.3 billion and $ 3.5 billion, respectively, at March 31, 2022 and December 31, 2021 , and other C&I loans of $ 548 million and $ 527 million, respectively, at March 31, 2022 and December 31, 2021 .
[4]	Includes lease financing receivables, all of which were classified as Pass.
[5]	Includes $ 5 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.
[6]	Includes lease financing receivables, all of which were current.
[7]	Includes $ 6 million of taxi medallion-related loans that were 90 days or more past due. There were no taxi medallion-related loans that were 30 to 89 days past due.

Loans and Leases - Quality of_2

Loans and Leases - Quality of Loans Held for Investment (Parenthetical) (Details) - Taxi Medallion Loans - Commercial and Industrial - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Loans 90 Days Or More Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due Loans	$ 5,000,000	$ 6,000,000
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		Mar. 31, 2022		Dec. 31, 2021
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans	[1]	$ 46,703		$ 45,681
Multi-Family
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		35,751		34,603
Multi-Family | Pass
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		34,087		33,011
Multi-Family | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		998		981
Multi-Family | Substandard
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		666		611
Commercial Real Estate
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		6,701		6,698
Commercial Real Estate | Pass
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		5,951		5,874
Commercial Real Estate | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		577		643
Commercial Real Estate | Substandard
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		173		181
One-to-Four Family
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		145		160
One-to-Four Family | Pass
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		122		137
One-to-Four Family | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		23		14
One-to-Four Family | Substandard
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans				9
Acquisition, Development, and Construction
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		237		209
Acquisition, Development, and Construction | Pass
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		233		204
Acquisition, Development, and Construction | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		4		5
Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans	[1]	42,834		41,670
Mortgage Receivable | Pass
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		40,393		39,226
Mortgage Receivable | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		1,602		1,643
Mortgage Receivable | Substandard
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		839		801
Commercial and Industrial
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans	[3]	3,863	[2]	4,006	[4]
Commercial and Industrial | Pass
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		3,858	[2]	3,959	[4]
Commercial and Industrial | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans	[4]			2
Commercial and Industrial | Substandard
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		5	[2]	45	[4]
Other
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		6		5
Other | Pass
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		6		5
Total Other Loans
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		3,869		4,011
Total Other Loans | Pass
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		3,864		3,964
Total Other Loans | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans				2
Total Other Loans | Substandard
Financing Receivable, Recorded Investment [Line Items]
Non-Covered Loans		$ 5		$ 45
[1]	Excludes accrued interest receivable of $ 200 million and $ 199 million at March 31, 2022 and December 31, 2021 , respectively, which is included in other assets in the Consolidated Statements of Condition.
[2]	Includes lease financing receivables, all of which were classified as Pass.
[3]	Includes specialty finance loans and leases of $ 3.3 billion and $ 3.5 billion, respectively, at March 31, 2022 and December 31, 2021 , and other C&I loans of $ 548 million and $ 527 million, respectively, at March 31, 2022 and December 31, 2021 .
[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	Mar. 31, 2022USD ($)
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	$ 46,758
Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	42,862
Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	3,896
Pass | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	40,420
Pass | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	3,891
Special Mention | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	1,603
Substandard | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	839
Substandard | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	5
2022
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	2,803
2022 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	2,688
2022 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	115
2022 | Pass | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	2,688
2022 | Pass | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	115
2021
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	10,135
2021 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	9,299
2021 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	836
2021 | Pass | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	9,299
2021 | Pass | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	836
2020
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	9,878
2020 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	9,268
2020 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	610
2020 | Pass | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	9,159
2020 | Pass | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	608
2020 | Special Mention | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	70
2020 | Substandard | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	39
2020 | Substandard | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	2
2019
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	6,291
2019 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	5,794
2019 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	497
2019 | Pass | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	5,417
2019 | Pass | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	496
2019 | Special Mention | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	230
2019 | Substandard | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	147
2019 | Substandard | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	1
2018
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	4,949
2018 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	4,867
2018 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	82
2018 | Pass | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	4,348
2018 | Pass | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	81
2018 | Special Mention | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	343
2018 | Substandard | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	176
2018 | Substandard | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	1
Prior to 2018
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	11,237
Prior to 2018 | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	10,927
Prior to 2018 | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	310
Prior to 2018 | Pass | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	9,491
Prior to 2018 | Pass | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	309
Prior to 2018 | Special Mention | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	959
Prior to 2018 | Substandard | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	477
Prior to 2018 | Substandard | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	1
Revolving Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	1,465
Revolving Loans | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	19
Revolving Loans | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	1,446
Revolving Loans | Pass | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	18
Revolving Loans | Pass | Other Loans
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	1,446
Revolving Loans | Special Mention | Mortgage Receivable
Financing Receivable, Recorded Investment [Line Items]
Loans and lease receivable amortized cost basis	$ 1

Loans and Leases - Summary of C

Loans and Leases - Summary of Collateral-Dependent Loans Held for Investment by Collateral Type (Details) $ in Millions	Mar. 31, 2022USD ($)
Real Estate
Disclosure Of Summary Of Collateral Dependent Loans Held For Investment By Collateral Type [Line Items]
Assets received as collateral	$ 68
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	19
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	49
Other
Disclosure Of Summary Of Collateral Dependent Loans Held For Investment By Collateral Type [Line Items]
Loans and leases receivable, collateral for secured borrowings	5
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	$ 5

Loans and Leases - Information

Loans and Leases - Information Regarding Troubled Debt Restructurings (Details) - Non-Covered Loans - USD ($) $ in Millions		Mar. 31, 2022	Dec. 31, 2021
Financing Receivable Modifications [Line Items]
Troubled debt restructurings		$ 47	$ 29
Accruing
Financing Receivable Modifications [Line Items]
Troubled debt restructurings		16	16
Non-Accrual
Financing Receivable Modifications [Line Items]
Troubled debt restructurings		31	13
Multi-Family
Financing Receivable Modifications [Line Items]
Troubled debt restructurings		7	7
Multi-Family | Non-Accrual
Financing Receivable Modifications [Line Items]
Troubled debt restructurings		7	7
Commercial Real Estate
Financing Receivable Modifications [Line Items]
Troubled debt restructurings		35	16
Commercial Real Estate | Accruing
Financing Receivable Modifications [Line Items]
Troubled debt restructurings		16	16
Commercial Real Estate | Non-Accrual
Financing Receivable Modifications [Line Items]
Troubled debt restructurings		19
Commercial and Industrial
Financing Receivable Modifications [Line Items]
Troubled debt restructurings	[1]	5	6
Commercial and Industrial | Non-Accrual
Financing Receivable Modifications [Line Items]
Troubled debt restructurings	[1]	$ 5	$ 6
[1]	Includes $ 5 million and $ 6 million of taxi medallion-related loans at March 31, 2022 and December 31, 2021 , respectively.

Loans and Leases - Informatio_2

Loans and Leases - Information Regarding Troubled Debt Restructurings (Parenthetical) (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Taxi Medallion Loans
Financing Receivable Modifications [Line Items]
Troubled debt restructurings	$ 5	$ 6

Loans and Leases - Summary of F

Loans and Leases - Summary of Financial Effects of Troubled Debt Restructurings (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)Investment	Mar. 31, 2021USD ($)Investment
Commercial Real Estate
Financing Receivable Modifications [Line Items]
Number of loans classified as a non-accrual TDRs | Investment	1
Pre-Modification Recorded Investment	$ 22
Post-Modification Recorded Investment	$ 19
Weighted Average Interest Rate, Pre-Modification	6.00%
Weighted Average Interest Rate, Post-Modification	4.00%
Trouble debt restructuring, charge-off amount	$ 3
Multi-Family
Financing Receivable Modifications [Line Items]
Number of loans classified as a non-accrual TDRs | Investment		1
Pre-Modification Recorded Investment		$ 8
Post-Modification Recorded Investment		$ 8
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	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Valuation Allowance [Line Items]
Balance, beginning of period	$ 199	$ 194
Charge-offs	(3)	(4)
Recoveries	2	5
Provision for (recovery of) credit losses	(1)	3
Balance, end of period	197	198
Mortgage Receivable
Valuation Allowance [Line Items]
Balance, beginning of period	178	176
Charge-offs	(3)	(1)
Provision for (recovery of) credit losses	1	1
Balance, end of period	176	176
Other Loans
Valuation Allowance [Line Items]
Balance, beginning of period	21	18
Charge-offs		(3)
Recoveries	2	5
Provision for (recovery of) credit losses	(2)	2
Balance, end of period	$ 21	$ 22

Allowance for Credit Losses o_4

Allowance for Credit Losses on Loans and Leases - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Valuation Allowance [Line Items]
COVID-19 pandemic, impacts	For the three months ended March 31, 2022, the allowance for credit losses on loan and leases decreased primarily as a result of improvements in macroeconomic and environmental factors surrounding the COVID-19 pandemic, specifically those affecting commercial real estate in the New York City area. The macroeconomic forecast includes Gross Domestic Product (“GDP”) which is expected to rise at an annualized rate of 3.7% and 3.0% respectively for 2022 and 2023. Unemployment continues to subside from the historic shock of 2020, as peak unemployment rates are forecasted to be approximately 3.6% in 2022 and 3.4% in 2023. The 10-year U.S. Treasury yield is expected to steadily increase over the course of 2022-23. In addition to these quantitative inputs, several qualitative factors were considered in decreasing our allowance for loan and lease credit losses, including changes in borrower payment behavior and other attributes related to the commercial real estate portfolio.
Unfunded Loan Commitment [Member]
Valuation Allowance [Line Items]
Allowance for credit losses	$ 11	$ 12

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, 2021	Mar. 31, 2022
Financing Receivable, Impaired [Line Items]
Impaired loans with no related allowance, Recorded Investment	$ 29	$ 58
Impaired loans with no related allowance, Interest Income Recognized	1
Impaired loans with an allowance recorded, Recorded Investment	4	5
Impaired loans with an allowance recorded, Related Allowance		1
Total impaired loans, Recorded Investment	33	63
Total impaired loans, Interest Income Recognized	1
Multi-Family
Financing Receivable, Impaired [Line Items]
Impaired loans with no related allowance, Recorded Investment	9	19
Impaired loans with no related allowance, Interest Income Recognized	1
Impaired loans with an allowance recorded, Recorded Investment	1	3
Impaired loans with an allowance recorded, Related Allowance		1
Total impaired loans, Recorded Investment	10	22
Total impaired loans, Interest Income Recognized	1
Commercial Real Estate
Financing Receivable, Impaired [Line Items]
Impaired loans with no related allowance, Recorded Investment	14	33
Impaired loans with an allowance recorded, Recorded Investment	2	2
Total impaired loans, Recorded Investment	16	35
One-to-Four Family
Financing Receivable, Impaired [Line Items]
Impaired loans with an allowance recorded, Recorded Investment	1
Total impaired loans, Recorded Investment	1
Other Loans
Financing Receivable, Impaired [Line Items]
Impaired loans with no related allowance, Recorded Investment	6	6
Total impaired loans, Recorded Investment	$ 6	$ 6

Borrowed Funds - Summary of Bor

Borrowed Funds - Summary of Borrowed Funds (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
FHLB advances	$ 13,880	$ 15,105
Repurchase agreements	800	800
Total wholesale borrowings	14,680	15,905
Junior subordinated debentures	361	361
Subordinated notes	296	296
Total borrowed funds	$ 15,337	$ 16,562

Borrowed Funds - Summary of Rep

Borrowed Funds - Summary of Repurchase Agreements Accounted for Secured Borrowings (Details) $ in Millions	Mar. 31, 2022USD ($)
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	Mar. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
Subordinated notes outstanding	$ 296	$ 296
Junior subordinated debentures	$ 361	$ 361

Borrowed Funds - Summary of Fix

Borrowed Funds - Summary of Fixed-To-Floating Rate Subordinated Notes Outstanding (Details) - Subordinated Debt $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)
Debt Outstanding [Line Items]
Stated Maturity	Nov. 6, 2028
Interest Rate of Capital Securities and Debentures	5.90%	[1]
Principal amount of Subordinated Notes	$ 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.

Borrowed Funds - Summary of F_2

Borrowed Funds - Summary of Fixed-To-Floating Rate Subordinated Notes Outstanding (Parenthetical) (Details) - Subordinated Debt	3 Months Ended
	Mar. 31, 2022
Interest Rate of Capital Securities and Debentures	5.90%	[1]
Description of variable rate basis	LIBOR rate plus 278 basis points
Debt instrument spread on variable rate	278.00%
[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.

Borrowed Funds - Junior Subordi

Borrowed Funds - Junior Subordinated Debentures Outstanding (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2022	Dec. 31, 2021
Subordinated Borrowing [Line Items]
Junior Subordinated Debentures Amount Outstanding		$ 361	$ 361
Capital Securities Amount Outstanding		$ 348
New York Community Capital Trust V (BONUSESSM Units)
Subordinated Borrowing [Line Items]
Interest Rate of Capital Securities and Debentures	[1]	6.00%
Junior Subordinated Debentures Amount Outstanding	[1]	$ 147
Capital Securities Amount Outstanding	[1]	$ 140
Date of Original Issue	[1]	Nov. 4, 2002
Stated Maturity	[1]	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	[2]	2.43%
Junior Subordinated Debentures Amount Outstanding	[2]	$ 124
Capital Securities Amount Outstanding	[2]	$ 120
Date of Original Issue	[2]	Dec. 14, 2006
Stated Maturity	[2]	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	[2]	4.08%
Junior Subordinated Debentures Amount Outstanding	[2]	$ 31
Capital Securities Amount Outstanding	[2]	$ 30
Date of Original Issue	[2]	Jun. 2, 2003
Stated Maturity	[2]	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	[2]	2.65%
Junior Subordinated Debentures Amount Outstanding	[2]	$ 59
Capital Securities Amount Outstanding	[2]	$ 58
Date of Original Issue	[2]	Apr. 16, 2007
Stated Maturity	[2]	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
	Mar. 31, 2022	Mar. 31, 2021
Components of net periodic pension expense (credit):
Interest cost	$ 1	$ 1
Expected return on plan assets	(4)	(4)
Amortization of net actuarial loss		2
Net periodic (credit) expense	$ (3)	$ (1)

Pension and Other Post-Retire_4

Pension and Other Post-Retirement Benefits - Additional Information (Details) $ in Millions	Mar. 31, 2022USD ($)
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
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant	5,872,599
Shares granted	2,859,342	3,029,949
Shares granted, weighted average grant date fair value	$ 11.78	$ 11.15
Expense recognized under 401(K) plan	$ 2	$ 2
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted	2,859,342
Shares granted, weighted average grant date fair value	$ 11.78
Compensation and benefits expense	$ 7	$ 8
Unrecognized compensation cost relating to unvested restricted stock	$ 82
Unrecognized compensation cost relating to unvested restricted stock, recognition period (in years)	3 years 7 months 6 days
Restricted Stock | Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted, vesting period	1 year	1 year
Restricted Stock | Share-based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted, vesting period	5 years	5 years
Performance-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation and benefits expense	$ 0	$ 1
Unrecognized compensation cost relating to unvested restricted stock	$ 3
Unrecognized compensation cost relating to unvested restricted stock, recognition period (in years)	1 year 7 months 6 days

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Activity for Restricted Stock Awards (Details) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Number of Shares
Granted	2,859,342	3,029,949
Weighted Average Grant Date Fair Value
Granted	$ 11.78	$ 11.15
Restricted Stock
Number of Shares
Unvested at beginning of year	6,950,335
Granted	2,859,342
Vested	(2,150,196)
Canceled	(44,519)
Unvested at end of year	7,614,962
Weighted Average Grant Date Fair Value
Unvested at beginning of year	$ 11.68
Granted	11.78
Vested	12.29
Canceled	11.53
Unvested at end of year	$ 11.55

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Activity for Performance-Based Restricted Stock Units (Details) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted	2,859,342	3,029,949
Performance-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested at beginning of year	834,612
Released	(176,090)
Canceled	(58,696)
Unvested at end of year	599,826
Performance Period	January 1, 2021 - December 31, 2023
Expected Vesting Dates	March 31, 2023 and 2024

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Millions	Mar. 31, 2022		Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 5,612		$ 5,780
Total equity securities	15		16
Total securities	5,627	[1]	5,796	[2]
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	5,612		5,780
Total equity securities	15		16
Total securities	5,627		5,796
Fair Value, Measurements, Recurring | Mutual Funds and Common Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total equity securities	15		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	2,616		2,790
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	1,063		1,107
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	1,553		1,683
Fair Value, Measurements, Recurring | Other Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	2,996		2,990
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	144		45
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	1,373		1,480
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	456		479
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	24		25
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	878		838
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		97
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	144		45
Total securities	144		45
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Mortgage-Related Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale			2,790
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Mortgage-Related Securities | GSE Certificates
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale			1,107
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Mortgage-Related Securities | GSE CMOs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale			1,683
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	144		45
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Securities | U.S. Treasury Obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	144		45
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	5,468		5,735
Total equity securities	15		16
Total securities	5,483		5,751
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
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Mutual Funds and Common 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) | Mortgage-Related Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	2,616
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Mortgage-Related Securities | GSE Certificates
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	1,063
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Mortgage-Related Securities | GSE CMOs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	1,553
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Other Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	2,852		2,945
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Other Securities | GSE Certificates
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale			1,480
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Other Securities | GSE Debentures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	1,373
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Other Securities | Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	456		479
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Other Securities | Municipal Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	24		25
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Other Securities | Corporate Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	878		838
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | 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 | Significant Other Observable Inputs (Level 2) | Other Securities | Capital Trust Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 95		$ 97
[1]	Excludes accrued interest receivable of $ 15 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	Mar. 31, 2022		Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Certain loans	$ 25	[1]	$ 32	[2]
Other assets	31	[3]	32	[4]
Total	56		64
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Certain loans	25	[1]	32	[2]
Other assets	31	[3]	32	[4]
Total	$ 56		$ 64
[1]	Represents the fair value based on the value of the collateral.
[2]	Represents the fair value 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		Mar. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Financial Assets:
Cash and cash equivalents, and due from banks, Carrying Value		$ 2,900		$ 2,211		$ 1,948
Cash and cash equivalents and due from banks, Estimated Fair Value		2,900		2,211
FHLB stock, Carrying Value		679	[1]	734	[2]
FHLB stock, Estimated Fair Value		679	[1]	734	[2]
Loans and leases, net, Carrying Value		46,561		45,539
Loans and leases, net, Estimated Fair Value		44,959		44,748
Financial Liabilities:
Deposits, Carrying Value		37,954		35,059
Deposits, Estimated Fair Value		37,883		35,051
Borrowed funds, Carrying Value		15,337		16,562
Borrowed funds, Estimated Fair Value		15,577		17,169
Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial Assets:
Cash and cash equivalents, and due from banks, Carrying Value		2,900		2,211
Financial Liabilities:
Deposits, Carrying Value	[3]	30,065		26,635
Significant Other Observable Inputs (Level 2)
Financial Assets:
FHLB stock, Carrying Value		679	[1]	734	[2]
Financial Liabilities:
Deposits, Carrying Value	[4]	7,818		8,416
Borrowed funds, Carrying Value		15,577		17,169
Significant Unobservable Inputs (Level 3)
Financial Assets:
Loans and leases, net, Carrying Value		$ 44,959		$ 44,748
[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]	Certificates of deposit.

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Residual value of leased asset	$ 60		$ 61
Carrying value of investment lease	$ 1,800		$ 1,900
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.
Amortization of operating lease right-of-use assets	$ 6	$ 5
Minimum
Lessor, operating lease, term of contract	24 months
Operating lease, remaining lease term	1 year
Maximum
Lessor, operating lease, term of contract	120 months
Operating lease, remaining lease term	25 years

Leases - Components of Lease In

Leases - Components of Lease Income (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Interest income on lease financing	[1]	$ 12	$ 14
[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	Mar. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Net investment in the lease - lease payments receivable	$ 1,680	$ 1,790
Net investment in the lease - unguaranteed residual assets	73	75
Total lease payments	$ 1,753	$ 1,865

Leases - Summary of Remaining M

Leases - Summary of Remaining Maturity of Undiscounted Lease Receivables (Details) $ in Millions	Mar. 31, 2022USD ($)
Leases [Abstract]
2022	$ 10
2023	196
2024	247
2025	344
2026	382
Thereafter	574
Total lease payments	1,753
Plus: deferred origination costs	23
Less: unearned income	(90)
Total lease finance receivables, net	$ 1,686

Leases - Summary of Components

Leases - Summary of Components of Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Operating lease cost	$ 7	$ 7
Total lease cost	$ 7	$ 7

Leases - Summary of Supplementa

Leases - Summary of Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Operating cash flows from operating leases	$ 7	$ 7

Leases - Summary of Supplemen_2

Leases - Summary of Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease right-of-use assets	$ 243	$ 249
Operating lease liabilities	$ 243	$ 249
Weighted average remaining lease term	15 years	16 years
Weighted average discount rate%	3.26%	3.05%

Leases - Summary of Maturities

Leases - Summary of Maturities of Lease Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Leases [Abstract]
2022	$ 20
2023	26
2024	25
2025	24
2026	23
Thereafter	194
Total lease payments	312
Less: imputed interest	(69)
Total present value of lease liabilities	$ 243	$ 249

Derivative and Hedging Activi_3

Derivative and Hedging Activities - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Derivative [Line Items]
Interest income	$ 332	$ 318
Gain (losses) on interest rate derivatives designated as cash flow hedge	6
Interest rate cash flow hedge gain (loss) to be reclassified during next 12 months, net	15
Interest Rate Swap | Cash Flow Hedging
Derivative [Line Items]
Derivative, notional amount	2,050		$ 2,250
Designated as Hedging Instrument
Derivative [Line Items]
Derivative, notional amount	0
Interest income	6	$ 12
Designated as Hedging Instrument | Interest Rate Swap
Derivative [Line Items]
Derivative, notional amount	$ 2,000
Derivative, expired period	2022-02
LCH | Designated as Hedging Instrument | Interest Rate Swap
Derivative [Line Items]
Derivative, notional amount	$ 2,100

Derivative and Hedging Activi_4

Derivative and Hedging Activities - Schedule of Cumulative Basis Adjustment for Fair Value Hedges (Details) - Loans and Leases - Fair Value Hedging $ in Millions	Dec. 31, 2021USD ($)	[1]
Derivative [Line Items]
Carrying Amount of the Hedged Assets	$ 2,025
Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of the Hedged Assets	$ 25
[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. Since the swap expired in February 2022, at March 31, 2022 , the amortized cost basis of the closed portfolios used in these hedging relationships; the cumulative basis adjustments associated with these hedging relationships; and the amount of the designated hedged items were $ 0 .

Derivative and Hedging Activi_5

Derivative and Hedging Activities - Schedule of Cumulative Basis Adjustment for Fair Value Hedges (Parenthetical) (Details) $ in Millions	Mar. 31, 2022USD ($)
Designated as Hedging Instrument
Derivative [Line Items]
Derivative, notional amount	$ 0

Derivative and Hedging Activi_6

Derivative and Hedging Activities - Information Regarding Derivative Financial Instruments (Details) - Designated as Hedging Instrument $ in Millions	Mar. 31, 2022USD ($)
Derivative [Line Items]
Amount of designated hedged items	$ 0
Interest Rate Swap
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
	Mar. 31, 2022	Mar. 31, 2021
Interest Rate Swap
Derivative [Line Items]
Interest income	$ 25	$ 25
Hedged Item - Loans
Derivative [Line Items]
Interest income	$ (25)	$ (25)

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	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Notional amounts	$ 2,050	$ 2,250
Cash collateral received (posted)	$ 9	$ (12)
Weighted average pay rates	1.34%	1.27%
Weighted average receive rates	0.61%	0.18%
Weighted average maturity	8 months 12 days	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	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Amount of (loss) gain recognized in AOCL	$ 16	$ 5
Amount of reclassified from AOCL to interest expense	$ 6	$ 6

Pending Acquisition - Additiona

Pending Acquisition - Additional Information (Details) - Flagstar - USD ($) $ in Billions	Apr. 27, 2022	Apr. 26, 2021
Business Acquisition [Line Items]
Percentage of stock transaction value		100.00%
Implied total transaction value		$ 2.6
Subsequent Event
Business Acquisition [Line Items]
Extend merger termination date	Oct. 31, 2022