 Third Quarter 2009 Investor Presentation Exhibit 99.1 |
 New York Community Bancorp, Inc. Page 2 Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995 Forward-looking Statements and Associated Risk Factors This presentation, like many written and oral communications presented by New York Community Bancorp, Inc. and our authorized officers, may contain certain forward-looking statements regarding our prospective performance and strategies within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and are including this statement for purposes of said safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations of the Company, are generally identified by use of the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “project,” “seek,” “strive,” “try,” or future or conditional verbs such as “will,” “would,” “should,” “could,” “may,” or similar expressions. Our ability to predict results or the actual effects of our plans or strategies is inherently uncertain. Accordingly, actual results may differ materially from anticipated results. There are a number of factors, many of which are beyond our control, that could cause actual conditions, events, or results to differ significantly from those described in our forward-looking statements. These factors include, but are not limited to: general economic conditions and trends, either nationally or in some or all of the areas in which we and our customers conduct our respective businesses; conditions in the securities and real estate markets or the banking industry; changes in interest rates, which may affect our net income, prepayment penalty income, and other future cash flows, or the market value of our assets, including our investment securities; changes in real estate values, which could impact the quality of the assets securing the loans in our portfolio; changes in the quality or composition of our loan or securities portfolios; changes in competitive pressures among financial institutions or from non-financial institutions; changes in our customer base or in the financial or operating performances of our customers’ businesses; changes in the demand for our deposit, loan, and investment products and other financial services in the markets we serve; changes in deposit flows and wholesale borrowing facilities; changes in our credit ratings or in our ability to access the capital markets; changes in our estimates of future reserves based upon the periodic review thereof under relevant regulatory and accounting requirements; changes in our capital management policies, including those regarding business combinations, dividends, and share repurchases, among others; our ability to retain key members of management; changes in legislation, regulation, policies, or administrative practices, whether by judicial, governmental, or legislative action, including, but not limited to, those pertaining to banking, securities, taxation, rent regulation and housing, environmental protection, and insurance, and the ability to comply with such changes in a timely manner; additional FDIC special assessments or required assessment prepayments; changes in accounting principles, policies, practices, or guidelines; changes in the monetary and fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Federal Reserve Board of Governors; our timely development of new lines of business and competitive products or services in a changing environment, and the acceptance of such products or services by our customers; operational issues stemming from, and/or capital spending necessitated by, the potential need to adapt to industry changes in information technology systems, on which we are highly dependent; any interruption or breach of security resulting in failures or disruptions in customer account management, general ledger, deposit, loan, or other systems; any interruption in customer service due to circumstances beyond our control; potential exposure to unknown or contingent liabilities of companies we have acquired or target for acquisition; the outcome of pending or threatened litigation, or of other matters before regulatory agencies, or of matters resulting from regulatory exams, whether currently existing or commencing in the future; environmental conditions that exist or may exist on properties owned by, leased by, or mortgaged to the Company; war or terrorist activities; and other economic, competitive, governmental, regulatory, and geopolitical factors affecting our operations, pricing, and services. For a discussion of these and other risks that may cause actual results to differ from expectations, please refer to our Annual Report on Form 10-K for the year ended December 31, 2008, including the section entitled “Risk Factors,” and our Quarterly Reports on Form 10-Q for the quarters ended June 30, 2009, March 31, 2009, and September 30, 2008, on file with the U.S. Securities and Exchange Commission (the “SEC”). In addition, it should be noted that we routinely evaluate opportunities to expand through acquisition and frequently conduct due diligence activities in connection with such opportunities. As a result, acquisition discussions and, in some cases, negotiations, may take place at any time, and acquisitions involving cash, debt, or equity securities may occur. Furthermore, the timing and occurrence or non-occurrence of events may be subject to circumstances beyond our control. Readers are cautioned not to place undue reliance on the forward-looking statements contained herein, which speak only as of the date of this presentation. Except as required by applicable law or regulation, we undertake no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made. |
 New York Community Bancorp, Inc. Page 3 We are a leading financial institution in the competitive Metro New York/New Jersey region. (a) SNL Financial as of 10/26/09 (b) Please see page 41 for a reconciliation of our GAAP and cash earnings. With assets of $32.9 billion at 9/30/09, we are the 24th largest bank holding company in the nation and operate the 2nd largest public thrift. (a) With a portfolio of $16.5 billion at 9/30/09, we are a leading producer of multi-family loans for portfolio in New York City. (a) With deposits of $14.5 billion at 9/30/09, we operate the 2nd largest thrift depository in our core markets of Queens, Staten Island, and Nassau County. (a) We generated a strong 3Q 2009 performance, with a 19.4% increase in cash earnings (b) ; a 17.9% increase in diluted cash EPS (b) ; a 24.5% increase in net interest income; and a 49-basis point increase in net interest margin, year-over- year. With a 0.03% ratio of net charge-offs to average loans in 3Q 2009, we extended our historical record of above-average asset quality. |
 New York Community Bancorp, Inc. Page 4 Our total return to shareholders increased at a compound annual growth rate of 31.5% between our IPO and 9/30/09. We have a consistent business model that focuses on building value while building the Company. (a) SNL Financial (b) Please see pages 36 and 37 for a reconciliation of our GAAP and operating efficiency ratios. |
 3rd Quarter 2009 Performance Highlights |
 New York Community Bancorp, Inc. Page 6 In 3Q 2009, we generated strong performance metrics. (a) Please see page 40 for a reconciliation of our GAAP and operating earnings. (b) Please see page 41 for a reconciliation of our GAAP and cash earnings. (c) Please see page 36 for a reconciliation of our GAAP and operating efficiency ratios. Performance Highlights: 3Q 2009 3Q 2008 Y-O-Y Change GAAP: Earnings $98,573 $58,064 69.8% EPS $0.28 $0.17 64.7% Operating: Earnings (a) $90,215 $84,779 6.4% EPS (a) $0.26 $0.25 4.0% Cash: Earnings (b) $114,304 $95,713 19.4% EPS (b) $0.33 $0.28 17.9% Other Key Performance Measures: Net interest income $226,360 $181,879 24.5% Net interest margin 3.17% 2.68% 49 bp Operating efficiency ratio (c) 35.85% 38.01% 216 bp (dollars in thousands, except per share data) |
 New York Community Bancorp, Inc. Page 7 Our asset quality measures continued to exceed those of our industry as a whole. At or for the Three Months Ended 9/30/09 Asset Quality: NYB SNL Bank & Thrift Index (a) Net charge-offs / average loans 0.03% 0.81% Non-performing loans / total loans (b) 2.00% 4.13% Non-performing assets / total assets 1.45% 3.05% Net charge-offs / average loan loss allowance 6.56% 23.69% (a) SNL Financial as of 10/26/09 (b) Non-performing loans are defined as non-accrual loans and loans 90 days or more past due but still accruing interest. |
 New York Community Bancorp, Inc. Page 8 (dollars in thousands) 3Q 2008 2Q 2009 3Q 2009 Linked-quarter Increase (Decrease) Y-O-Y Increase (Decrease) Average balance of loans $21,032,989 $22,382,786 $22,763,695 1.7% 8.2% Average yield on loans 6.02% 5.75% 5.75% 0 bp (27) bp Average yield on interest-earning assets 5.85 5.65 5.60 (5) bp (25) bp Prepayment penalty income $3,945 $2,064 $2,304 11.6% (41.6)% Net interest margin 2.68% 3.06% 3.17% 11 bp 49 bp Average cost of borrowed funds 4.07 3.77 3.62 (15) bp (45) bp Average cost of interest-bearing deposits 2.68 1.71 1.43 (28) bp (125) bp Average cost of CDs 3.86 2.84 2.40 (44) bp (146) bp Average cost of interest-bearing liabilities 3.37 2.76 2.58 (18) bp (79) bp The expansion of our net interest margin has been driven by a reduction in our funding costs. |
 New York Community Bancorp, Inc. Page 9 Both of our bank subsidiaries are well capitalized institutions: 9/30/09 Community Bank Commercial Bank Leverage capital ratio 7.41% 10.84% We continue to maintain strong tangible capital measures: Our quarterly cash dividend has increased 90-fold since we initiated payments in 3Q 1994. In October 2009, we declared our 23rd consecutive quarterly cash dividend of $0.25 per share. (a) Please see page 38 for a reconciliation of our GAAP and non-GAAP capital measures. (dollars in billions) 12/31/08 6/30/09 9/30/09 Tangible stockholders’ equity (a) $1.7 $1.7 $1.8 Tangible equity / tangible assets (a) 5.66% 5.59% 6.03% Tangible equity / tangible assets excluding accumulated other comprehensive loss, net of tax (a) 5.94% 5.83% 6.25% We have maintained a strong capital position. |
 Our Business Model: Multi-family Loan Production |
 New York Community Bancorp, Inc. Page 11 (in millions) Multi-family Loan Portfolio Multi-family loans have grown at a CAGR of 29.3% since 12/31/99. $1,348 $9,839 $12,854 $14,529 $14,055 $15,726 $16,473 12/31/99 12/31/04 12/31/05 12/31/06 12/31/07 12/31/08 12/31/09 |
 New York Community Bancorp, Inc. Page 12 (in millions) Commercial Real Estate Loan Portfolio Our commercial real estate loans feature the same structure as our multi-family loans. $96 $2,141 $2,888 $3,114 $3,826 $4,551 $4,873 12/31/99 12/31/04 12/31/05 12/31/06 12/31/07 12/31/08 9/30/09 |
 Our Business Model: Asset Quality |
 New York Community Bancorp, Inc. Page 14 Net Charge-offs / Average Loans NYB Net Charge-offs: $22,000 $222,000 $458,000 $6.1 million $431,000 We continue to be distinguished by our low level of net charge-offs. $20.7 million NYB SNL Bank and Thrift Index (a) (a) SNL Financial as of 10/26/09 1.28% 1.50% 1.17% 0.68% 1.63% 2.43% 0.00% 0.04% 0.07% 0.00% 0.03% 0.09% 1990 1991 1992 2007 2008 9 Mos. 2009 |
 New York Community Bancorp, Inc. Page 15 4.00% 4.05% 3.41% 1.45% 2.71% 4.13% 2.48% 2.10% 2.83% 0.11% 0.51% 2.00% 12/31/90 12/31/91 12/31/92 12/31/07 12/31/08 9/30/09 Non-performing Loans / Total Loans (a) The quality of our loan portfolio has consistently exceeded that of our industry. (a) Non-performing loans are defined as non-accrual loans and loans 90 days or more past due but still accruing interest. (b) SNL Financial as of 10/26/09 NYB SNL Bank and Thrift Index (b) |
 New York Community Bancorp, Inc. Page 16 Net Charge-offs / Average Loan Loss Allowance Our charge-offs typically represent a smaller percentage of our loan loss allowance compared to our industry peers. (a) SNL Financial as of 10/26/09 NYB SNL Bank and Thrift Index (a) |
 New York Community Bancorp, Inc. Page 17 Historically, few of our non-performing loans have resulted in charge-offs. At or for the Twelve Months Ended December 31, At or for the Nine Months Ended September 30, 2009 1990 1991 1992 2007 2008 NPLs / Total Loans (a) 2.48% 2.10% 2.83% 0.11% 0.51% 2.00% NCOs / Average Loans 0.00% 0.04% 0.07% 0.00% 0.03% 0.09% Difference 248 bp 206 bp 276 bp 11 bp 48 bp 191 bp Loan Loss Allowance / NPLs (a) 12.94% 24.78% 36.17% 418.14% 83.00% 23.17% (a) Non-performing loans are defined as non-accrual loans and loans 90 days or more past due but still accruing interest. |
 New York Community Bancorp, Inc. Page 18 The quality of our assets reflects the nature of our multi-family lending niche and our strong underwriting standards. |
 New York Community Bancorp, Inc. Page 19 While NPLs have increased in the wake of the economic crisis, they represent a small percentage of our loan portfolio. Loan Type Non-Performing Loans as a Percent of Total Loans at September 30, 2009 Multi-family 1.20% Commercial real estate 0.30 Acquisition, development, and construction 0.35 Commercial and industrial 0.07 One- to four-family 0.06 Other 0.02 Total loan portfolio 2.00% |
 Our Business Model: Efficiency |
 New York Community Bancorp, Inc. Page 21 Our operating efficiency ratio was 35.85% (a) in 3Q 2009, well below the SNL Bank and Thrift Index efficiency ratio of 56.72%. (b) (a) Please see pages 36 and 37 for a reconciliation of our GAAP and operating efficiency ratios. (b) SNL Financial as of 10/26/09 NYB (a) SNL Bank and Thrift Index (b) 35.85% 59.05% 57.76% 59.26% 61.32% 63.03% 56.72% 21.46% 28.86% 37.59% 41.18% 38.89% 2004 2005 2006 2007 2008 3Q 2009 Efficiency Ratio |
 Our Business Model: Growth through Acquisitions |
 New York Community Bancorp, Inc. Page 23 We have completed eight acquisitions since 2000. |
 New York Community Bancorp, Inc. Page 24 The decision to engage in an acquisition is driven by certain objectives. Earnings accretion Tangible capital accretion Maintaining our record of above-average asset quality Infusion of deposits Deployment of deposits and other cash flows into multi-family loan production and the reduction of funding costs Maintaining our record of superior operating efficiency Expansion of franchise in existing markets and / or extension into new markets |
 New York Community Bancorp, Inc. Page 25 (a) Please see pages 38 and 39 for reconciliations of our GAAP and non-GAAP capital. At or for the Twelve Months Ended At or for the Nine Months Ended 9/30/09 (dollars in billions) 12/31/99 w/ HAVN 12/31/00 w/ RCBK 12/31/01 w/ RSLN 12/31/03 w/ LICB 12/31/05 w/ ABNY 12/31/06 w/ PFSB, Doral-NYC, & SYNF 12/31/07 Tangible Capital: Tangible stockholders’ equity (a) $0.1 $0.2 $0.3 $0.9 $1.3 $1.4 $1.6 $1.8 Tier 1 leverage ratio 8.63% 8.75% 5.95% 7.72% 8.34% 8.14% 8.32% 8.03% Above-Average Asset Quality: NCOs / Average Loans 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.09% NPAs / Total Assets 0.17% 0.19% 0.19% 0.15% 0.11% 0.08% 0.07% 1.45% Infusion of Deposits: Core deposits $0.4 $1.4 $3.0 $ 6.0 $ 6.9 $ 6.7 $ 6.3 $ 8.7 Total deposits $1.1 $3.3 $5.5 $10.4 $12.2 $12.7 $13.2 $14.5 Our financial performance reflects the merits of our growth-through-acquisition strategy. |
 New York Community Bancorp, Inc. Page 26 (a) Please see pages 36 and 37 for reconciliations of our GAAP and operating efficiency ratios. (b) From 11/23/93 to the date indicated (c) Bloomberg At or for the Twelve Months Ended At or for the Nine Months Ended 9/30/09 (dollars in billions) 12/31/99 w/ HAVN 12/31/00 w/ RCBK 12/31/01 w/ RSLN 12/31/03 w/ LICB 12/31/05 w/ ABNY 12/31/06 w/ PFSB, Doral-NYC, & SYNF 12/31/07 Balance Sheet Repositioning: Multi-family Loans $1.3 $1.9 $3.3 $ 7.4 $12.9 $14.5 $14.1 $16.5 Total Loans $1.6 $3.6 $5.4 $10.5 $17.0 $19.7 $20.4 $23.0 Total Securities $0.2 $0.5 $2.6 $ 9.5 $ 5.6 $ 4.9 $ 5.7 $ 5.5 Total Assets $1.9 $4.7 $9.2 $23.4 $26.3 $28.5 $30.6 $32.9 Superior Operating Efficiency: Operating Efficiency Ratio (a) 31.16% 30.20% 30.50% 23.59% 28.86% 37.59% 41.18% 36.39% Franchise Expansion: Number of Branches 14 86 120 139 152 166 217 212 Total Return on Investment: (b)(c) 717% 1,055% 1,557% 3,793% 2,390% 2,479% 2,885% 2,094% Our financial performance reflects the merits of our growth-through-acquisition strategy (cont’d). |
 New York Community Bancorp, Inc. Page 27 Largely reflecting our acquisition strategy, we currently have 159 locations in New York and 53 in New Jersey. BRANCH LOCATIONS (#) COMMUNITY BANK COMMERCIAL BANK Queens County Savings Bank (34) New York Commercial Bank (18) Roslyn Savings Bank (56) Atlantic Bank (17) Richmond County Savings Bank (22) Roosevelt Savings Bank (8) New York Community Bank (4) Garden State Community Bank (53) |
 New York Community Bancorp, Inc. Page 28 (dollars in thousands) SUFFOLK COUNTY, NY Rank Institution Deposits Market Share 1 JPMorgan Chase & Co $ 7,809,664 22.13% 2 Capital One Financial Corp. 5,600,937 15.87 3 Astoria Financial Corp. 3,139,029 8.89 4 Citigroup Inc. 2,976,427 8.43 5 HSBC Holdings plc 2,537,513 7.19 6 Bank of America Corp. 2,335,201 6.62 7 New York Community 1,654,648 4.69 8 Toronto-Dominion Bank 1,570,122 4.45 9 Smithtown Bancorp 1,504,430 4.26 10 Suffolk Bancorp 1,432,327 4.06 Total for Institutions in Market $35,293,215 100.00% ESSEX COUNTY, NJ Rank Institution Deposits Market Share 1 Wells Fargo & Co. $ 2,486,983 12.50% 2 New York Community 2,356,215 11.84 3 Citigroup Inc. 1,842,398 9.26 4 Bank of America Corp. 1,394,025 7.00 5 Hudson City Bancorp Inc. 1,387,794 6.97 6 JPMorgan Chase & Co 1,342,918 6.75 7 PNC Financial 1,333,746 6.70 8 Investors Bancorp Inc. 1,306,328 6.56 9 Valley National Bancorp 1,300,911 6.54 10 Banco Santander S.A. 1,260,423 6.33 Total for Institutions in Market $19,900,587 100.00% Source: SNL Financial The expansion of our franchise has enabled us to compete very effectively against the region’s money center banks. NASSAU COUNTY, NY Rank Institution Deposits Market Share 1 JPMorgan Chase & Co. $11,207,747 20.64% 2 Citigroup Inc. 7,846,371 14.45 3 Capital One Financial Corp. 6,381,757 11.75 4 Astoria Financial Corp. 5,395,561 9.94 5 New York Community 4,355,408 8.02 6 Bank of America Corp. 3,452,847 6.36 7 Toronto-Dominion Bank 3,202,765 5.90 8 HSBC Holdings plc 2,029,364 3.74 9 Flushing Financial Corp. 1,476,584 2.72 10 Signature Bank 1,302,498 2.40 Total for Institutions in Market $54,303,097 100.00% QUEENS COUNTY, NY Rank Institution Deposits Market Share 1 JPMorgan Chase & Co. $ 8,087,934 19.56% 2 Citigroup Inc. 5,962,280 14.42 3 Capital One Financial Corp. 4,695,834 11.36 4 Astoria Financial Corp. 3,102,693 7.51 5 HSBC Holdings plc 2,816,995 6.81 6 New York Community 2,610,122 6.31 7 Ridgewood Savings Bank 1,636,138 3.96 8 Toronto-Dominion Bank 1,447,927 3.50 9 Flushing Financial Corp. 1,228,225 2.97 10 Banco Santander S.A. 989,322 2.39 Total for Institutions in Market $41,339,284 100.00% RICHMOND COUNTY, NY Rank Institution Deposits Market Share 1 Banco Santander S.A. $2,283,684 24.29% 2 JPMorgan Chase & Co. 1,610,747 17.13 3 New York Community 1,468,053 15.61 4 Citigroup Inc. 1,096,514 11.66 5 Northfield Bancorp Inc. 831,606 8.84 6 Toronto-Dominion Bank 608,588 6.47 7 Hudson City Bancorp Inc. 543,868 5.78 8 HSBC Holdings plc 273,126 2.90 9 VSB Bancorp Inc. 200,832 2.14 10 Capital One Financial Corp. 178,904 1.90 Total for Institutions in Market $9,403,629 100.00% |
 New York Community Bancorp, Inc. Page 29 Total deposits: 30.4% CAGR Core deposits: 36.2% CAGR Demand deposits: 40.9% CAGR (in millions) CDs NOW, MMAs, and Savings Demand deposits Deposits Total Deposits: $10,457 $12,168 $12,694 $13,236 $14,376 Our deposit growth has been largely acquisition- driven. $14,468 $1,086 $658 $3,752 $5,247 $5,945 $6,913 $6,797 $5,771 $5,918 $6,015 $5,554 $4,975 $6,451 $7,566 $787 $906 $1,195 $1,348 $1,128 $1,131 $388 $40 12/31/99 12/31/04 12/31/05 12/31/06 12/31/07 12/31/08 9/30/09 |
 New York Community Bancorp, Inc. Page 30 (in millions) Multi-family Loans Outstanding All Other Loans Outstanding Loans Outstanding Multi-family loans: 29.3% CAGR Total loans: 31.4% CAGR $1,611 $17,029 $19,653 Total Loans: $677 $6,332 $4,971 Total Originations: $23,039 $2,597 $20,363 $4,853 While acquisitions have contributed to the growth of our loan portfolio, the bulk of our loan growth has been organic. $22,192 $5,881 $13,396 $6,041 $1,348 $9,839 $12,854 $14,529 $14,055 $15,726 $16,473 $3,557 $4,175 $5,124 $6,308 $6,466 $6,566 $263 12/31/99 12/31/04 12/31/05 12/31/06 12/31/07 12/31/08 9/30/09 |
 New York Community Bancorp, Inc. Page 31 In the current environment, we are considering FDIC-assisted transactions, which present certain unique benefits. Loss-sharing agreement significantly limits credit risk Nominal lag time between agreement and execution expedites timing of benefits and reduces risk Merger-related expenses are significantly reduced No social issues Out-of-market transactions would build on our unique structure, which currently includes six divisional banks with strong local identities |
 Total Return on Investment |
 New York Community Bancorp, Inc. Page 33 Total Return on Investment NYB (b) 14.7% 6.2% 107.5% 5.7% Annual yield produced by $1.00 per share dividend on shares purchased at the date indicated: (a) SNL Financial (b) Bloomberg As a result of nine stock splits in a span of 10 years, our charter shareholders have 2,700 shares of NYB stock for each 100 shares originally purchased. 8.4% Notwithstanding the decline in the capital markets, our business model has created significant value for our shareholders over time. 8.8% SNL Bank & Thrift Index (a) 240% 615% 462% 213% 232% 717% 2,479% 2,885% 2,059% 2,094% 11/23/93 12/31/99 12/31/06 12/31/07 12/31/08 9/30/09 CAGR since IPO = 31.5% |
 New York Community Bancorp, Inc. Page 34 We are committed to building value for our investors. Our Goals |
 New York Community Bancorp, Inc. Page 35 10/29/2009 For More Information |
 New York Community Bancorp, Inc. Page 36 For the Three Months Ended For the Nine Months Ended September 30, 2009 September 30, 2008 September 30, 2009 (dollars in thousands) GAAP Operating GAAP Operating GAAP Operating Total net interest income and non-interest income $241,432 $241,432 $162,547 $162,547 $670,397 $670,397 Adjustments: Gain on debt exchange -- (5,717) -- -- -- (5,717) Loss on other-than-temporary impairment of securities -- 13,275 -- 44,160 -- 53,003 Adjusted total net interest income and non- interest income $241,432 $248,990 $162,547 $206,707 $670,397 $717,683 Operating expenses $ 90,067 $ 90,067 $78,578 $78,578 $275,905 $275,905 Adjustments: FDIC special assessment -- (801) -- -- -- (14,753) Adjusted operating expenses $ 90,067 $ 89,266 $78,578 $78,578 $275,905 $261,152 Efficiency ratio 37.31% 35.85% 48.34% 38.01% 41.16% 36.39% Reconciliation of GAAP and Operating Efficiency Ratios The following table presents reconciliations of the Company’s GAAP and operating efficiency ratios for the three months ended September 30, 2009 and 2008 and the nine months ended September 30, 2009: |
 New York Community Bancorp, Inc. Page 37 Reconciliation of GAAP and Operating Efficiency Ratios The following table presents reconciliations of the Company’s GAAP and operating efficiency ratios for the years ended December 31, 1999, 2000, 2001, 2003, 2004, 2005, 2006, 2007, and 2008. For the year ended December 31, 2002, the Company’s GAAP and operating efficiency ratios were the same. For the Years Ended December 31, 2008 2007 2006 2005 2004 2003 2001 2000 1999 (dollars in thousands) GAAP Operating GAAP Operating GAAP Operating GAAP Operating GAAP Operating GAAP Operating GAAP Operating GAAP Operating GAAP Operating Total net interest income and non-interest income $691,024 $691,024 $727,622 $727,622 $650,556 $650,556 $693,068 $693,068 $737,040 $737,040 $668,962 $668,962 $296,431 $296,431 $94,726 $ 94,726 $71,426 $71,426 Adjustments: Visa-related gain -- (1,647) Net gain on sale of securities -- -- (1,888) -- -- -- -- -- -- -- -- -- -- -- -- -- -- Loss on mark-to-market of interest rate swaps -- -- -- -- -- 6,071 -- -- -- -- -- -- -- -- -- -- -- -- Loss on debt redemption -- (16,962) -- 1,848 -- 1,859 -- -- -- -- -- -- -- -- -- -- -- -- Loss on other-than-temporary -- 104,317 impairment -- 39,647 -- 56,958 -- -- -- -- -- 8,209 -- -- -- -- -- -- -- -- Balance sheet repositioning charge -- -- -- -- -- -- -- -- -- 157,215 -- -- -- -- -- -- -- -- Gain on sale of bank-owned property / branches -- -- -- (64,879) -- -- -- -- -- -- -- (37,613) -- (1,500) -- (13,500) -- -- Adjusted total net interest income and non-interest income $691,024 $816,379 $727,622 $719,661 $650,556 $658,486 $693,068 $693,068 $737,040 $902,464 $668,962 $631,349 $296,431 $294,931 $94,726 $ 81,226 $71,426 $71,426 Operating expenses $320,818 $320,818 $299,575 $299,575 $256,362 $256,362 $236,621 $236,621 $193,632 $193,632 $169,373 $169,373 $112,757 $112,757 $49,330 $ 49,330 $21,390 $21,390 Adjustments: FDIC special assessment -- -- Merger-related charge -- -- -- (2,245) -- (5,744) -- (36,588) -- -- -- (20,423) -- (22,800) -- (24,800) -- -- VISA litigation charge -- (3,365) -- (1,000) -- -- -- -- -- -- -- -- -- -- -- -- -- -- Retirement charge -- -- -- -- -- (3,072) -- -- -- -- -- -- -- -- -- -- -- (735) Curtailment gain -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 1,600 Adjusted operating expenses $320,818 $317,453 $299,575 $296,330 $256,362 $247,546 $236,621 $200,033 $193,632 $193,632 $169,373 $148,950 $112,757 $ 89,957 $49,330 $ 24,530 $21,390 $22,255 Efficiency ratio 46.43% 38.89% 41.17% 41.18% 39.41% 37.59% 34.14% 28.86% 26.27% 21.46% 25.32% 23.59% 38.04% 30.50% 52.08% 30.20% 29.95% 31.16% |
 New York Community Bancorp, Inc. Page 38 Reconciliation of GAAP and Non-GAAP Capital Measures Sept. 30, June 30, December 31, (dollars in thousands) 2009 2009 2008 2007 2006 2005 2004 Total stockholders’ equity $ 4,340,539 $ 4,210,666 $ 4,219,246 $ 4,182,313 $ 3,689,837 $ 3,324,877 $ 3,186,414 Less: Goodwill (2,436,401) (2,436,401) (2,436,401) (2,437,404) (2,148,108) (1,980,689) (1,951,438) Core deposit intangibles (71,205) (76,617) (87,780) (111,123) (106,381) (86,533) (87,553) Tangible stockholders’ equity $ 1,832,933 $ 1,697,648 $ 1,695,065 $ 1,633,786 $ 1,435,348 $ 1,257,655 $ 1,147,423 Total assets $32,884,468 $32,860,123 $32,466,906 $30,579,822 $28,482,370 $26,283,705 $24,037,826 Less: Goodwill (2,436,401) (2,436,401) (2,436,401) (2,437,404) (2,148,108) (1,980,689) (1,951,438) Core deposit intangibles (71,205) (76,617) (87,780) (111,123) (106,381) (86,533) (87,553) Tangible assets $30,376,862 $30,347,105 $29,942,725 $28,031,295 $26,227,881 $24,216,483 $21,998,835 Stockholders’ equity to total assets 13.20% 12.81% 13.00% 13.68% 12.95% 12.65% 13.26% Tangible stockholders’ equity to tangible assets 6.03% 5.59% 5.66% 5.83% 5.47% 5.19% 5.22% Tangible stockholders’ equity $1,832,933 $1,697,648 $1,695,065 $1,633,786 $1,435,348 $1,257,655 $1,147,423 Accumulated other comprehensive loss, net of tax 68,394 76,301 87,319 21,315 68,053 55,857 40,697 Adjusted tangible stockholders’ equity $1,901,327 $1,773,949 $1,782,384 $1,655,101 $1,503,401 $1,313,512 $1,188,120 Tangible assets $30,376,862 $30,347,105 $29,942,725 $28,031,295 $26,227,881 $24,216,483 $21,998,835 Accumulated other comprehensive loss, net of tax 68,394 76,301 87,319 21,315 68,053 55,857 40,697 Adjusted tangible assets $30,445,256 $30,423,406 $30,030,044 $28,052,610 $26,295,394 $24,272,340 $22,039,532 Adjusted tangible stockholders’ equity to adjusted tangible assets 6.25% 5.83% 5.94% 5.90% 5.72% 5.41% 5.39% The following table presents reconciliations of the Company’s stockholders’ equity, tangible stockholders’ equity, and adjusted tangible stockholders’ equity; total assets, tangible assets, and adjusted tangible assets; and the related capital measures at December 31, 2004, 2005, 2006, 2007, and 2008 and June 30 and September 30, 2009: Please see the following page for reconciliations at December 31, 1999, 2000, 2001, 2002, and 2003. |
 New York Community Bancorp, Inc. Page 39 The following table presents reconciliations of the Company’s stockholders’ equity, tangible stockholders’ equity, and adjusted tangible stockholders’ equity; total assets, tangible assets, and adjusted tangible assets; and the related capital measures at December 31, 1999, 2000, 2001, 2002, and 2003: December 31, (dollars in thousands) 2003 2002 2001 2000 1999 Total stockholders’ equity $ 2,868,657 $1,323,512 $ 983,134 $ 307,410 $137,141 Less: Goodwill (1,918,353) (624,518) (614,653) (118,070) -- Core deposit intangibles (98,993) (51,500) (57,500) -- -- Tangible stockholders’ equity $ 851,311 $ 647,494 $ 310,981 $ 189,340 $137,141 Total assets $23,441,337 $11,313,092 $9,202,635 $4,710,785 $1,906,835 Less: Goodwill (1,918,353) (624,518) (614,653) (118,070) -- Core deposit intangibles (98,993) (51,500) (57,500) -- -- Tangible assets $21,423,991 $10,637,074 $8,530,482 $4,592,715 $1,906,835 Stockholders’ equity to total assets 12.24% 11.70% 10.68% 6.53% 7.19% Tangible stockholders’ equity to tangible assets 3.97% 6.09% 3.65% 4.12% 7.19% Tangible stockholders’ equity $851,311 $647,494 $310,981 $189,340 $137,141 Accumulated other comprehensive loss (gain), net of tax 34,640 (34,852) (3,715) (820) -- Adjusted tangible stockholders’ equity $885,951 $612,642 $307,266 $188,520 $137,141 Tangible assets $21,423,991 $10,637,074 $8,530,482 $4,592,715 $1,906,835 Accumulated other comprehensive loss (gain), net of tax 34,640 (34,852) (3,715) (820) -- Adjusted tangible assets $21,458,631 $10,602,222 $8,526,767 $4,591,895 $1,906,835 Adjusted tangible stockholders’ equity to adjusted tangible assets 4.13% 5.78% 3.60% 4.11% 7.19% Reconciliation of GAAP and Non-GAAP Capital Measures |
 New York Community Bancorp, Inc. Page 40 The following table presents a reconciliation of the Company’s GAAP and operating earnings for the three months ended September 30, 2008 and 2009: Reconciliation of GAAP and Operating Earnings For the Three Months Ended September 30, (in thousands, except per share data) 2009 2008 GAAP Earnings $ 98,573 $ 58,064 Adjustments to GAAP earnings: Loss on other-than-temporary impairment of securities 13,275 44,160 Gain on debt exchange (5,717) -- FDIC special assessment 801 -- Resolution of tax audits (13,316) -- Income tax effect (3,401) (17,445) Operating earnings $ 90,215 $ 84,779 Diluted GAAP Earnings per Share $0.28 $0.17 Adjustments to diluted GAAP earnings per share: Loss on other-than-temporary impairment of securities 0.02 0.08 Gain on debt exchange (0.01) -- FDIC special assessment -- -- Resolution of tax audits (0.04) -- Diluted operating earnings per share $0.26 $0.25 Note: Footing difference in the table is due to rounding. |
 New York Community Bancorp, Inc. Page 41 The following table presents a reconciliation of the Company’s GAAP and cash earnings for the three months ended September 30, 2008 and 2009: Reconciliation of GAAP and Cash Earnings (in thousands, except per share data) For the Three Months Ended September 30, 2009 2008 GAAP Earnings $ 98,573 $58,064 Additional contributions to tangible stockholders’ equity: Amortization and appreciation of shares held in stock-related benefit plans 3,219 3,558 Associated tax effects 2,473 1,375 Dividends on unallocated ESOP shares 157 244 Amortization of core deposit intangibles 5,412 5,757 Gain on debt exchange (3,381) -- Loss on other-than-temporary impairment of securities 7,851 26,715 Total additional contributions to tangible stockholders’ equity 15,731 37,649 Cash earnings $114,304 $95,713 Diluted GAAP Earnings per Share $ 0.28 $0.17 Additional contributions to diluted GAAP earnings per share: Amortization and appreciation of shares held in stock-related benefit plans 0.01 0.01 Associated tax effects 0.01 -- Dividends on unallocated ESOP shares -- -- Amortization of core deposit intangibles 0.02 0.02 Gain on debt exchange (0.01) -- Loss on other-than-temporary impairment of securities 0.02 0.08 Total additional contributions to diluted GAAP earnings per share 0.05 0.11 Diluted cash earnings per share $ 0.33 $0.28 |