Flagstar Financial (FLG) 10-Q 5 Nov 09 2009 Q3 Quarterly report Financial data

Statement Of Financial Position

Statement Of Financial Position Unclassified - Deposit Based Operations (USD $)
In Thousands	Sep. 30, 2009	Dec. 31, 2008
Assets:
Cash and cash equivalents	$153,838	$203,216
Securities available for sale:
Mortgage-related ($637,334 and $811,152 pledged, respectively)	701,245	833,684
Other securities ($8,236 and $78,847 pledged, respectively)	111,750	176,818
Total available-for-sale securities	812,995	1,010,502
Securities held to maturity:
Mortgage-related ($2,604,725 and $3,131,098 pledged, respectively) (fair value of $2,704,334 and $3,199,414, respectively)	2,611,438	3,164,856
Other securities ($1,655,897 and $1,359,912 pledged, respectively) (fair value of $1,967,036 and $1,628,387, respectively)	2,030,597	1,726,135
Total held-to-maturity securities	4,642,035	4,890,991
Total securities	5,455,030	5,901,493
Loans, net of deferred loan fees and costs	23,038,726	22,192,212
Less: Allowance for loan losses	(106,659)	(94,368)
Loans, net	22,932,067	22,097,844
Federal Home Loan Bank of New York ("FHLB-NY") stock, at cost	423,028	400,979
Premises and equipment, net	207,622	217,762
Goodwill	2,436,401	2,436,401
Core deposit intangibles, net	71,205	87,780
Bank-owned life insurance	709,038	691,429
Other assets	496,239	430,002
Total assets	32,884,468	32,466,906
Deposits:
NOW and money market accounts	4,684,607	3,818,952
Savings accounts	2,881,393	2,632,078
Certificates of deposit	5,770,801	6,796,971
Non-interest-bearing accounts	1,131,100	1,127,647
Total deposits	14,467,901	14,375,648
Borrowed funds:
FHLB-NY advances	8,074,176	7,708,064
Repurchase agreements	4,200,000	4,485,000
Federal funds purchased	485,000	150,000
Junior subordinated debentures	435,227	484,216
Other borrowings	669,517	669,430
Total borrowed funds	13,863,920	13,496,710
Other liabilities	212,108	375,302
Total liabilities	28,543,929	28,247,660
Stockholders' equity:
Preferred stock at par $0.01 (5,000,000 shares authorized; none issued)	0	0
Common stock at par $0.01 (600,000,000 shares authorized; 355,842,337 and 344,985,111 shares issued, respectively; 355,839,733 and 344,985,111 shares outstanding, respectively)	3,558	3,450
Paid-in capital in excess of par	4,297,006	4,181,599
Retained earnings	109,609	123,511
Treasury stock (2,604 and 0 shares, respectively)	(28)	0
Unallocated common stock held by Employee Stock Ownership Plan ("ESOP")	(1,212)	(1,995)
Accumulated other comprehensive loss, net of tax ("AOCL"):
Net unrealized loss on securities and non-credit portion of other-than-temporary impairment ("OTTI") losses, net of tax	(17,619)	(32,506)
Net unrealized loss on securities transferred from available for sale to held to maturity, net of tax	(4,092)	(4,706)
Pension and post-retirement obligations, net of tax	(46,683)	(50,107)
Total accumulated other comprehensive loss, net of tax	(68,394)	(87,319)
Total stockholders' equity	4,340,539	4,219,246
Total liabilities and stockholders' equity	$32,884,468	$32,466,906

1_Statement Of Financial Positi

Statement Of Financial Position Unclassified - Deposit Based Operations (Parenthetical) (USD $)
In Thousands, except Share data	Sep. 30, 2009	Dec. 31, 2008
Mortgage-related, pledged	$637,334	$811,152
Other securities, pledged	8,236	78,847
Mortgage-related, pledged	2,604,725	3,131,098
Mortgage-related, fair value	2,704,334	3,199,414
Other securities, pledged	1,655,897	1,359,912
Other securities, fair value	$1,967,036	$1,628,387
Preferred stock, par	0.01	0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, issued	0	0
Common stock, par	0.01	0.01
Common stock, shares authorized	600,000,000	600,000,000
Common stock, shares issued	355,842,337	344,985,111
Common stock, shares outstanding	355,839,733	344,985,111
Treasury stock, shares	2,604	0

Statement Of Income Interest Ba

Statement Of Income Interest Based Revenue (USD $)
In Thousands, except Per Share data	3 Months Ended Sep. 30, 2009	3 Months Ended Sep. 30, 2008	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
Interest Income:
Mortgage and other loans	$327,120	$316,780	$970,477	$940,164
Securities and money market investments	75,816	81,619	234,261	253,859
Total interest income	402,936	398,399	1,204,738	1,194,023
Interest Expense:
NOW and money market accounts	7,380	13,346	22,257	40,658
Savings accounts	3,687	5,814	11,468	17,688
Certificates of deposit	35,482	67,274	132,822	209,647
Borrowed funds	130,027	130,086	387,331	452,142
Total interest expense	176,576	216,520	553,878	720,135
Net interest income	226,360	181,879	650,860	473,888
Provision for loan losses	15,000	400	33,000	2,100
Net interest income after provision for loan losses	211,360	181,479	617,860	471,788
Non-interest Income (Loss):
Total loss on OTTI of securities	(22,550)	(44,160)	(73,623)	(93,755)
Less: Non-credit portion of OTTI recorded in other comprehensive income (before taxes)	9,275	0	20,620	0
Net loss on OTTI recognized in earnings	(13,275)	(44,160)	(53,003)	(93,755)
Fee income	9,682	10,402	28,255	31,196
Bank-owned life insurance	6,914	7,021	20,482	20,900
Net gain on sale of securities	0	0	0	568
Gain on debt exchange/repurchase	5,717	0	5,717	926
Other	6,034	7,405	18,086	26,671
Total non-interest income (loss)	15,072	(19,332)	19,537	(13,494)
Operating expenses:
Compensation and benefits	46,093	42,769	133,560	129,175
Occupancy and equipment	17,700	17,585	54,343	52,507
General and administrative	26,274	18,224	88,002	58,214
Total operating expenses	90,067	78,578	275,905	239,896
Debt repositioning charge	0	0	0	285,369
Amortization of core deposit intangibles	5,412	5,757	16,575	17,610
Total non-interest expense	95,479	84,335	292,480	542,875
Income (loss) before income taxes	130,953	77,812	344,917	(84,581)
Income tax expense (benefit)	32,380	19,748	101,207	(60,233)
Net Income (Loss)	98,573	58,064	243,710	(24,348)
Other comprehensive income (loss), net of tax:
Change in net unrealized gain (loss) on securities and non-credit portion of OTTI for the period	6,797	(8,363)	16,091	(4,396)
Change in pension and post-retirement obligations	1,110	51	3,424	202
Total comprehensive income (loss), net of tax	$106,480	$49,752	$263,225	($28,542)
Basic earnings (loss) per share	0.28	0.17	0.7	-0.08
Diluted earnings (loss) per share	0.28	0.17	0.7	-0.08

Statement Of Shareholders Equit

Statement Of Shareholders Equity And Other Comprehensive Income (USD $)
In Thousands	$0.01)						Total
Balance at beginning of year at Dec. 31, 2008	$3,450	$4,181,599	$123,511	$0	($1,995)	($87,319)	$4,219,246
Allocation of ESOP stock		2,001
Change in net unrealized loss on securities available for sale, net of tax of $2,756						(4,190)
Purchase of common stock (112,359 shares)				(1,289)
Net income			243,710				243,710
Earned portion of ESOP					783
Shares issued for restricted stock awards (107,435 shares)	2	(1,235)		1,233
Dividends paid on common stock ($0.75 per share)			(258,202)
Compensation expense related to restricted stock awards		7,114
Adjustment for the cumulative effect of a change in accounting for OTTI, net of tax			590			(590)
Exercise of stock options		22		28
Reclassification adjustment for OTTI losses recognized in earnings, net of tax of $(20,931)						32,072
Tax effect of stock plans		3,794
Non-credit portion of OTTI losses recognized in other comprehensive income, net of tax of $8,214						(12,405)
Shares issued for debt exchange	48	39,105
Amortization of net unrealized loss on securities transferred from available for sale to held to maturity, net of tax of $(404)						614
Shares issued in connection with the direct stock purchase feature of the Dividend Reinvestment and Stock Purchase Plan ("DRP") (5,877,667 shares)	58	64,606
Change in pension and post-retirement obligations, net of tax of $(2,189)						3,424
Balance at end of period at Sep. 30, 2009	$3,558	$4,297,006	$109,609	($28)	($1,212)	($68,394)	$4,340,539

2_Statement Of Shareholders Equ

Statement Of Shareholders Equity And Other Comprehensive Income (Parenthetical) (USD $)
In Thousands, except Share data	$0.01)
Purchase of common stock, shares			112,359
Exercise of stock options, shares			2,320
Shares issued for restricted stock awards, shares	223,115		107,435
Shares issued for debt exchange, shares	4,756,444
Shares issued in connection with the direct stock purchase feature of the Dividend Reinvestment and Stock Purchase Plan, shares	5,877,667
Dividends paid on common stock, per share		0.75
Change in net unrealized loss on securities available for sale, tax				$2,756
Adjustment for the cumulative effect of a change in accounting for OTTI, tax				377
Reclassification adjustment for OTTI losses recognized in earnings, tax				(20,931)
Non-credit portion of OTTI losses recognized in other comprehensive income, tax				8,214
Amortization of net unrealized loss on securities transferred from available for sale to held to maturity, tax				(404)
Change in pension and post-retirement obligations, tax				($2,189)

Statement Of Cash Flows Indirec

Statement Of Cash Flows Indirect Deposit Based Operations (USD $)
In Thousands	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
Cash Flows from Operating Activities:
Net income (loss)	$243,710	($24,348)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Provision for loan losses	33,000	2,100
Depreciation and amortization	15,027	14,794
Accretion of discounts, net	(4,537)	(6,172)
Net change in net deferred loan origination costs and fees	(1,625)	4,307
Amortization of core deposit intangibles	16,575	17,610
Net gain on sale of securities	0	(568)
Net gain on sale of loans	(536)	(236)
Stock plan-related compensation	9,898	10,444
Loss on OTTI of securities recognized in earnings	53,003	93,755
Changes in assets and liabilities:
Increase in deferred tax asset, net	(54,905)	(30,471)
Increase in other assets	(41,066)	(102,080)
Decrease in other liabilities	(157,556)	(16,498)
Origination of loans held for sale	(78,537)	(36,675)
Proceeds from sale of loans originated for sale	76,733	35,559
Net cash provided by (used in) operating activities	109,184	(38,479)
Cash Flows from Investing Activities:
Proceeds from repayment of securities held to maturity	2,039,229	1,602,816
Proceeds from repayment of securities available for sale	193,341	169,067
Proceeds from sale of securities available for sale	0	11,438
Purchase of securities held to maturity	(1,808,546)	(2,140,804)
Purchase of securities available for sale	0	(12,320)
Net purchase of FHLB-NY stock	(22,049)	(14,679)
Net increase in loans	(863,258)	(1,200,576)
Purchase of loans	0	(45,500)
Proceeds from sale of loans	0	25,035
Purchase of premises and equipment, net	(4,887)	(9,706)
Net cash used in investing activities	(466,170)	(1,615,229)
Cash Flows from Financing Activities:
Net increase in deposits	92,253	1,082,684
Net increase in short-term borrowings	366,600	1,320,000
Net increase (decrease) in long-term borrowings	39,763	(916,186)
Tax effect of stock plans	3,794	3,645
Proceeds from issuance of common stock	64,664	339,152
Cash dividends paid on common stock	(258,202)	(247,706)
Treasury stock purchases	(1,289)	(2,187)
Net cash received from stock option exercises	25	14,993
Net cash provided by financing activities	307,608	1,594,395
Net decrease in cash and cash equivalents	(49,378)	(59,313)
Cash and cash equivalents at beginning of period	203,216	335,743
Cash and cash equivalents at end of period	153,838	276,430
Supplemental information:
Cash paid for interest	554,481	739,427
Cash paid for income taxes	170,914	14,566
Non-cash investing and financing activities:
Mortgage loans securitized and transferred to mortgage-related securities held to maturity, net	0	71,307
Transfer to other real estate owned from loans	14,372	205
Exchange of debt for common stock	$39,153	$0

Note 1. Basis of Presentation

Note 1. Basis of Presentation
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 1. Basis of Presentation	Note 1. Basis of Presentation The accompanying unaudited consolidated financial statements include the accounts of New York Community Bancorp, Inc. and subsidiaries (the Company), including its two banking subsidiaries, New York Community Bank (the Community Bank) and New York Commercial Bank (the Commercial Bank). The unaudited consolidated financial statements reflect all normal recurring adjustments that, in the opinion of management, are necessary to present a fair statement of the results for the periods presented. There are no other adjustments reflected in the accompanying consolidated financial statements. The results of operations for the three and nine months ended September30, 2009 are not necessarily indicative of the results of operations that may be expected for all of 2009. Certain information and note disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP) have been condensed or omitted, pursuant to the rules and regulations of the Securities and Exchange Commission (the SEC). The unaudited consolidated financial statements include the accounts of the Company and other entities in which the Company has a controlling financial interest. All inter-company balances and transactions have been eliminated. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Companys 2008 Annual Report on Form 10-K. Certain reclassifications have been made to the prior-period consolidated financial statements to conform to the current-period presentation.

Note 2. Stock-based Compensatio

Note 2. Stock-based Compensation
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 2. Stock-based Compensation	Note 2. Stock-based Compensation At September30, 2009, the Company had 6,029,109 shares available for grant as options, restricted stock, or other forms of related rights under the New York Community Bancorp, Inc. 2006 Stock Incentive Plan (the 2006 Stock Incentive Plan). Under the 2006 Stock Incentive Plan, the Company granted 365,000 shares of restricted stock in the nine months ended September30, 2009, with an average fair value of $11.79 per share on the date of grant and a vesting period of five years. There were no shares granted in the current third quarter. Compensation and benefits expense related to restricted stock grants is recognized on a straight-line basis over the vesting period, and totaled $2.3 million and $2.1 million, respectively, in the three months ended September30, 2009 and 2008, and $7.1 million and $5.9 million, respectively, in the nine months ended at those dates. A summary of activity with regard to restricted stock awards during the nine months ended September30, 2009 is presented in the following table: FortheNineMonthsEnded September30,2009 NumberofShares WeightedAverage GrantDate FairValue Unvested at January 1, 2009 2,346,345 $ 14.95 Granted 365,000 11.79 Vested (485,900 ) 16.93 Forfeited (39,450 ) 13.40 Unvested at September 30, 2009 2,185,995 14.01 As of September30, 2009, unrecognized compensation cost relating to unvested restricted stock totaled $25.4 million. This amount will be recognized over a remaining weighted average period of 3.7 years. In addition, the Company had eleven stock option plans at September30, 2009: the 1993 and 1997 New York Community Bancorp, Inc. Stock Option Plans; the 1993 and 1996 Haven Bancorp, Inc. Stock Option Plans; the 1998 Richmond County Financial Corp. Stock Compensation Plan; the T R Financial Corp. 1993 Incentive Stock Option Plan; the Roslyn Bancorp, Inc. 1997 and 2001 Stock-based Incentive Plans; the 1998 Long Island Financial Corp. Stock Option Plan; and the 2003 and 2004 Synergy Financial Group, Inc. Stock Option Plans (all eleven plans collectively referred to as the Stock Option Plans). All stock options granted under the Stock Option Plans expire ten years from the date of grant. Using the modified prospective approach, the Company recognizes compensation costs related to share-based payments at fair value on the date of grant, and recognizes such costs in the financial statements over the vesting period during which the employee provides service in exchange for the award. However, as there were no unvested options at any time during the nine months ended September30, 2009 or the year ended December31, 2008, the Company did not record any compensation and benefits expense relating to stock options during these periods. Generally, the Company issues new shares of common stock to satisfy the exercise of options. The Company may also use common stock held in Treasury to satisfy the exercise of options. In such event, the difference between the average cost of Treasury shares and the exercise price is recorded as an adjustment to retai

Note 3. Securities

Note 3. Securities
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 3. Securities	Note 3. Securities The following tables summarize the Companys portfolio of securities available for sale at September30, 2009 and December31, 2008: (in thousands) September30, 2009 Amortized Cost Gross Unrealized Gain Gross Unrealized Loss Fair Value Mortgage-related Securities: GSE(1) certificates $ 153,185 $ 7,773 $ $ 160,958 GSE CMOs(2) 429,764 15,770 445,534 Private label CMOs 102,112 7,359 94,753 Total mortgage-related securities $ 685,061 $ 23,543 $ 7,359 $ 701,245 Other Securities: Corporate bonds $ 15,812 $ 21 $ 2,022 $ 13,811 State, county, and municipal 6,401 48 111 6,338 Capital trust notes 40,412 4,312 8,297 36,427 Preferred stock 31,400 430 11,870 19,960 Common stock 42,773 1,638 9,197 35,214 Total other securities $ 136,798 $ 6,449 $ 31,497 $ 111,750 Total securities available for sale(3) $ 821,859 $ 29,992 $ 38,856 $ 812,995 (1) Government-sponsored enterprises (2) Collateralized mortgage obligations (3) As of September30, 2009, the non-credit portion of OTTI recorded in AOCL was $471,000 (before taxes). (in thousands) December31, 2008 Amortized Cost Gross Unrealized Gain Gross Unrealized Loss Fair Value Mortgage-related Securities: GSE certificates $ 180,132 $ 5,160 $ $ 185,292 GSE CMOs 519,389 9,727 154 528,962 Private label CMOs 139,332 19,902 119,430 Total mortgage-related securities $ 838,853 $ 14,887 $ 20,056 $ 833,684 Other Securities: GSE debentures $ 59,478 $ 2,481 $ $ 61,959 Corporate bonds 30,814 12,064 18,750 State, county, and municipal 6,528 387 6,141 Capital trust notes 44,337 14,471 29,866 Preferred stock 31,400 150 14,010 17,540 Common stock 53,343 151 10,932 42,562 Total other securities $ 225,900 $ 2,782 $ 51,864 $ 176,818 Total securities available for sale $ 1,064,753 $ 17,669 $ 71,920 $ 1,010,502 The following tables summarize the Companys portfolio of securities held to maturity at September30, 2009 and December31, 2008: (in thousands) September30, 2009 Amortized Cost Carrying Amount Gross Unrealized Gain Gross Unrealized Loss Fair Value Mortgage-related Securities: GSE certificates $ 244,087 $ 244,087 $ 17,551 $ $ 261,638 GSE CMOs 2,360,638 2,360,638 78,761 3,416 2,435,983 Other mortgage-related securities 6,713 6,713

Note 4. Loans, net

Note 4. Loans, net
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 4. Loans, net	Note 4. Loans, net The following table provides a summary of the Companys loan portfolio at the dates indicated: (dollars in thousands) September30, 2009 December31, 2008 Amount Percent of Total Amount Percent of Total Mortgage loans: Multi-family $ 16,475,807 71.49 % $ 15,728,264 70.85 % Commercial real estate 4,875,225 21.17 4,553,550 20.51 Acquisition, development, and construction 667,003 2.89 778,364 3.51 1-4 family 226,413 0.98 266,307 1.20 Total mortgage loans 22,244,448 96.53 21,326,485 96.07 Net deferred loan origination fees (5,927 ) (6,940 ) Mortgage loans, net 22,238,521 21,319,545 Other loans: Commercial and industrial 674,331 713,099 Consumer 125,207 158,907 Lease financing, net 828 1,433 Total other loans 800,366 3.47 873,439 3.93 Net deferred loan origination fees (161 ) (772 ) Other loans, net 800,205 872,667 Less: Allowance for loan losses 106,659 94,368 Loans, net $ 22,932,067 100.00 % $ 22,097,844 100.00 % The following table provides a summary of activity in the allowance for loan losses at the dates indicated: (in thousands) At or For the NineMonthsEnded September30, 2009 At or For the YearEnded December31,2008 Balance at beginning of period $ 94,368 $ 92,794 Provision for loan losses 33,000 7,700 Charge-offs (20,757 ) (6,168 ) Recoveries 48 42 Balance at end of period $ 106,659 $ 94,368 At September30, 2009 and December31, 2008, the Company had $460.4 million and $113.7 million, respectively, of non-accrual loans. In accordance with GAAP, the Company is required to account for certain loan modifications or restructurings as troubled debt restructurings. In general, such a modification or restructuring of a loan constitutes a troubled debt restructuring if the Company grants a concession to a borrower experiencing financial difficulty. Loans modified in a troubled debt restructuring are placed on non-accrual status until the Company determines that future collection of principal and interest is reasonably assured, which generally requires that the borrower demonstrate performance according to the restructured terms for a period of at least six months.Loans modified in a troubled debt restructuring, all of which were included in non-accrual loans, totaled $11.2 million at September30, 2009. There were no troubled debt restructurings at December31, 2008.

Note 5. Borrowed Funds

Note 5. Borrowed Funds
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 5. Borrowed Funds	Note 5. Borrowed Funds The following table provides a summary of the Companys borrowed funds at the dates indicated: (in thousands) September30,2009 December31,2008 Wholesale borrowings: FHLB-NY advances $ 8,074,176 $ 7,708,064 Repurchase agreements 4,200,000 4,485,000 Federal funds purchased 485,000 150,000 Total wholesale borrowings 12,759,176 12,343,064 Junior subordinated debentures 435,227 484,216 Senior debt 601,717 601,630 Preferred stock of subsidiaries 67,800 67,800 Total borrowed funds $ 13,863,920 $ 13,496,710 At September30, 2009, the Company had $435.2 million of outstanding junior subordinated deferrable interest debentures (junior subordinated debentures) held by nine statutory business trusts (the Trusts) that issued guaranteed capital securities. The capital securities qualified as Tier 1 capital of the Company at that date. 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. The underlying assets of each statutory business trust are the relevant debentures. The Company has fully and unconditionally guaranteed the obligations under each trusts 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 table provides a summary of the outstanding capital securities issued by each trust and the carrying amounts of the junior subordinated debentures issued by the Company to each trust as of September30, 2009: Issuer InterestRateof CapitalSecurities and Debentures(1) Junior Subordinated Debenture Carrying Amount Capital Securities Amount Outstanding Date of Original Issue Stated Maturity First Optional Redemption Date (dollars in thousands) Haven Capital Trust II 10.250 % $ 23,333 $ 22,550 May 26, 1999 June 30, 2029 June 30, 2009(2) Queens County Capital TrustI 11.045 10,309 10,000 July 26, 2000 July 19, 2030 July 19, 2010 Queens Statutory Trust I 10.600 15,464 15,000 September 7, 2000 September 7, 2030 September 7, 2010 New York Community Capital Trust V 6.000 143,428 137,077 November 4, 2002 November 1, 2051 November 4, 2007(3) New York Community Capital Trust X 1.899 123,712 120,000 December 14, 2006 December 15, 2036 December 15, 2011 LIF Statutory Trust I 10.600 7,814 7,582 September 7, 2000 September 7, 2030 September 7, 2010 PennFed Capital Trust II 10.180 13,228 12,856 March 28, 2001 June 8, 2031 June 8, 2011 PennFed Capital Trust III 3.549 30,928 30,000 June 2, 2003 June 15, 2033 June 15, 2008(2) New York Community Capital Trust

Note 6. Pension and Other Post-

Note 6. Pension and Other Post-retirement Benefits
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 6. Pension and Other Post-retirement Benefits	Note 6. Pension and Other Post-retirement Benefits The following table sets forth certain disclosures for the Companys pension and post-retirement plans for the periods indicated: (in thousands) For the Three Months Ended September30, 2009 2008 Pension Benefits Post-retirement Benefits Pension Benefits Post-retirement Benefits Components of net periodic expense (credit): Interest cost $ 1,611 $ 228 $ 1,604 $ 234 Service cost 1 2 Expected return on plan assets (2,576 ) (3,752 ) Unrecognized past service liability 50 (62 ) 50 (62 ) Amortization of unrecognized loss 1,746 75 49 34 Net periodic expense (credit) $ 831 $ 242 $ (2,049 ) $ 208 (in thousands) For the Nine Months Ended September30, 2009 2008 Pension Benefits Post-retirement Benefits Pension Benefits Post-retirement Benefits Components of net periodic expense (credit): Interest cost $ 4,832 $ 683 $ 4,811 $ 702 Service cost 3 6 Expected return on plan assets (7,726 ) (11,257 ) Unrecognized past service liability 152 (187 ) 152 (186 ) Amortization of unrecognized loss 5,237 227 147 102 Net periodic expense (credit) $ 2,495 $ 726 $ (6,147 ) $ 624 The Company expects to contribute approximately $20 million to its pension and post-retirement plans in 2009.

Note 7. Computation of Earnings

Note 7. Computation of Earnings (Loss) per Share (1)
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 7. Computation of Earnings (Loss) per Share (1)	Note 7. Computation of Earnings (Loss) per Share (1) The following table presents the Companys computation of basic and diluted earnings (loss) per share for the periods indicated: Three Months Ended September30, Nine Months Ended September30, (in thousands, except share and per share data) 2009 2008 2009 2008 Net income (loss) $ 98,573 $ 58,064 $ 243,710 $ (24,348 ) Less: Dividends paid on and earnings allocated to participating securities (548 ) (334 ) (1,419 ) (963 ) Earnings (loss) applicable to common stock $ 98,025 $ 57,730 $ 242,291 $ (25,311 ) Weighted average common shares outstanding 346,176,162 341,971,926 344,359,415 332,023,833 Basic earnings (loss) per common share $ 0.28 $ 0.17 $ 0.70 $ (0.08 ) Earnings (loss) applicable to common stock $ 98,025 $ 57,730 $ 242,291 $ (25,311 ) Weighted average common shares outstanding 346,176,162 341,971,926 344,359,415 332,023,833 Potential dilutive common shares(2) 75,027 854,742 76,200 N.A. Total shares for diluted earnings (loss) per share computation 346,251,189 342,826,668 344,435,615 332,023,833 Diluted earnings (loss) per common share and common share equivalents $ 0.28 $ 0.17 $ 0.70 $ (0.08 ) (1) Unvested stock-based compensation awards containing non-forfeitable rights to dividends are considered participating securities and therefore are included in the two-class method for calculating earnings per share. 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. The Company grants restricted stock to certain employees under its stock-based compensation plans. Recipients receive cash dividends during the vesting periods of these awards (i.e., including on the unvested portion of such awards). Since these dividends are non-forfeitable, the unvested awards are considered participating securities and will have earnings allocated to them. (2) Options to purchase 12.9million shares of the Companys common stock that were outstanding in the three and nine months ended September30, 2009, and options to purchase 2.8million shares and 13.7million shares, respectively of the Companys common stock that were outstanding in the three and nine months ended September30, 2008, were not included in the respective computation of diluted earnings per share because their inclusion would have had an antidilutive effect.

Note 8. Fair Value Measurement

Note 8. Fair Value Measurement
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 8. Fair Value Measurement	Note 8. Fair Value Measurement In 2008, the FASB issued a standard that, among other things, defines fair value, establishes a consistent framework for measuring fair value, and expands disclosure for each major asset and liability category measured at fair value on either a recurring or nonrecurring basis. The standard 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, the standard 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 companys own assumptions about the assumptions that market participants use in pricing an asset or liability. A financial instruments categorization within this valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The following table presents assets that were measured at fair value on a recurring basis as of September30, 2009, and that were included in the Companys Consolidated Statement of Condition at that date: Fair Value Measurements at September30, 2009 Using (in thousands) Quoted Prices in ActiveMarketsfor Identical Assets (Level 1) Significant Other ObservableInputs (Level 2) Significant UnobservableInputs (Level 3) TotalFairValue Mortgage-related Securities: GSE certificates $ $ 160,958 $ $ 160,958 GSE CMOs 445,534 445,534 Private label CMOs 94,753 94,753 Total mortgage-related securities 701,245 701,245 Other Securities: Corporate bonds 13,811 13,811 State, county, and municipal 6,338 6,338 Capital trust notes 13,473 22,954 36,427 Preferred stock 12,505 7,455 19,960 Common stock 35,214 35,214 Total other securities 35,214 46,127 30,409 111,750 Total securities available for sale $ 35,214 $ 747,372 $ 30,409 $ 812,995 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 ar

Note 9. Impact of Recent Accoun

Note 9. Impact of Recent Accounting Pronouncements
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 9. Impact of Recent Accounting Pronouncements	Note 9. Impact of Recent Accounting Pronouncements In July 2009, the FASB released the FASB Accounting Standards Codification (the Codification) as the single source of authoritative nongovernmental GAAP. The Codification is effective for interim and annual periods ended after September15, 2009. All existing accounting standards documents are superseded. All other accounting literature not included in the Codification is non-authoritative. Rules and interpretive releases of the SEC under authority of federal securities laws are also sources of authoritative GAAP for SEC registrants. The Codification supersedes all existing non-SEC accounting and reporting standards. All other non-grandfathered, non-SEC accounting literature not included in the Codification have become non-authoritative. Following the Codification, the FASB will not issue new standards in the form of Statements, FASB Staff Positions, or Emerging Issues Task Force Abstracts. Instead, it will issue Accounting Standards Updates, which will serve to update the Codification, provide background information about the guidance, and provide the basis for conclusions on the changes to the Codification. GAAP is not intended to be changed as a result of the FASBs Codification project, but it will change the way the guidance is organized and presented. As a result, these changes will have a significant impact on how companies reference GAAP in their financial statements and in their accounting policies for financial statements issued for interim and annual periods ended after September15, 2009. In June 2009, the FASB issued a standard that, among other things, affects the accounting for transfers of financial assets, including securitization transactions, and requires more information regarding when companies have continuing exposure to the risks related to transferred financial assets. The new standard eliminates the concept of a qualifying special-purpose entity, changes the requirements for derecognizing financial assets, and requires additional disclosures. Another standard issued by FASB in June 2009 changes how a company determines when an entity that is insufficiently capitalized or is not controlled through voting (or similar rights) should be consolidated. The determination of whether a company is required to consolidate an entity is based on, among other things, an entitys purpose and design, and a companys ability to direct the activities of the entity that most significantly impact the entitys economic performance. Both of these standards will be effective as of the beginning of the first annual reporting period that begins after November15, 2009, for interim periods within that first annual reporting period, and for interim and annual reporting periods thereafter. The Company does not expect the adoption of these standards to have a material impact on its consolidated financial condition or results of operations. In June 2009, the FASB also issued a standard regarding subsequent events. This standard establishes general standards of accounting for, and disclosing, events that occur after the balance sheet date but before financial statements are issu

Note 10. Subsequent Events

Note 10. Subsequent Events
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 10. Subsequent Events	Note 10. Subsequent Events The Company has evaluated whether any subsequent events that require recognition or disclosure in the accompanying financial statements and notes thereto have taken place through the date these financial statements were issued (November 5, 2009). The Company has determined that there are no such subsequent events.

Document Information

Document Information
	9 Months Ended Sep. 30, 2009 USD / shares
Document Information [Text Block]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	2009-09-30

Entity Information

Entity Information (USD $)
	9 Months Ended Sep. 30, 2009	Nov. 02, 2009
Entity [Text Block]
Trading Symbol	NYB
Entity Registrant Name	NEW YORK COMMUNITY BANCORP INC
Entity Central Index Key	0000910073
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		358,258,644