Flagstar Financial (FLG) 8-K Regulation FD Disclosure

Second Quarter 2010

Investor Presentation

Exhibit 99.1

*                *                          *                   

*                                        *              

*

*               *                          *                   

*                                        *              

*

*               *                          *                   

*                                        *              

*

*                *                          *                   

*                                        *              

*

New York Community Bancorp, Inc.

Page 2

Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995

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 the forward-looking statements. These factors

include, but are not limited to: general economic conditions, either nationally or in some or all of the areas in which we and our customers conduct our respective businesses; conditions in the securities markets 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

deposit

flows

and

wholesale

borrowing

facilities;

changes

in

the

demand

for

deposit,

loan,

and

investment

products

and

other

financial

services

in

the

markets

we

serve;

changes

in

our

credit

ratings

or

in

our

ability

to

access

the

capital

markets;

changes

in

our

customer

base

or

in

the

financial

or

operating

performances

of

our

customers’

businesses;

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;

the

ability

to

successfully

integrate

any

assets,

liabilities,

customers,

systems,

and

management

personnel

we

may

acquire,

including

those

acquired

in

the

AmTrust

Bank and

Desert

Hills

Bank

transactions, into our operations and our ability to realize related revenue synergies and cost savings within expected time frames; our use of derivatives to mitigate our interest rate exposure; our ability to retain key

members of management; 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; any

breach in performance by the Community Bank under our loss sharing agreements with the FDIC; 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,

including

those

of

AmTrust

Bank

and

Desert

Hills

Bank;

the

outcome

of

pending

or

threatened

litigation,

or

of

other

matters

before

regulatory

agencies,

whether

currently

existing

or

commencing

in

the

future; 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; changes in legislation, regulation, policies, or administrative practices, whether by judicial, governmental, or legislative action,

including, but not limited to, the effect of final rules amending Regulation E that prohibit financial institutions from assessing overdraft fees on ATM and one-time debit card transactions without a consumer’s

affirmative consent, the impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and other changes 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;

environmental

conditions

that

exist

or

may

exist

on

properties

owned

by,

leased

by,

or

mortgaged

to

the

Company;

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;

the

ability

to

keep

pace

with,

and

implement

on

a

timely

basis,

technological

changes;

changes

in

the

monetary

and

fiscal

policies

of

the

U.S.

Government,

including

policies

of

the

U.S.

Department

of

the

Treasury

and

the

Board

of

Governors

of

the

Federal

Reserve

System;

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, 2009, including the section entitled

“Risk Factors,”

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.

Forward-looking Statements and Associated Risk

Factors

New York Community Bancorp, Inc.

Page 3

We rank among the top 25 bank holding companies

in the U.S.

(a)

SNL Financial as of 7/29/10

With

assets

of

$42.0

billion

at

6/30/10,

we

are

the

23rd

largest

bank

holding

company

in

the

nation.

(a)

With

deposits

of

$22.4

billion

at

6/30/10

and

278

branches

in

Metro

New

York,

New

Jersey,

Ohio,

Florida,

and

Arizona,

we

rank

24th

among

the

nation’s

largest

depositories.

(a)

We

rank

among

the

top

three

thrift

depositories

in

eight

attractive

markets:

Queens,

Staten

Island,

and

Long

Island

in

New

York;

Essex

County

in

New

Jersey;

Broward

and

Palm

Beach

Counties

in

Florida;

greater

Cleveland

in

Ohio;

and

greater

Phoenix

in

Arizona.

(a)

With

a

portfolio

of

$16.8

billion

at

the

end

of

June,

we

are

a

leading

producer

of

multi-

family

loans

in

New

York

City.

(a)

With

a

market

cap

of

$7.5

billion

at

7/29/10,

we

rank

16th

among

the

nation’s

publicly

traded

banks

and

thrifts.

(a)

New York Community Bancorp, Inc.

Page 4

We have a consistent business model that focuses

on building value while building the Company.

(a)

SNL Financial as of 7/29/10

(b)

Please see page 34 for a reconciliation of our GAAP and operating efficiency ratios.

Our total return to shareholders increased at a CAGR of 33.8% from 11/23/93 to 7/29/10.

Multi-family Lending

$26.8 billion of multi-family loans originated since 2000,

including $975 million in 1H 2010.

Strong Credit Standards/

Superior Asset Quality

Net charge-offs represented 0.10% of average loans in 1H

2010, as compared to 1.49% for the SNL Bank and Thrift

Index.

(a)

Efficient Operation

Our operating efficiency ratio has historically ranked in the top

3% of all banks and thrifts and was 36.56% in 2Q 2010.

(a)(b)

Growth through

Acquisitions

We completed ten acquisitions from 2000 to 2010, including

our FDIC-assisted acquisitions of AmTrust Bank on December

4, 2009 and Desert Hills Bank on March 26th.

2nd Quarter 2010

Performance Highlights

*        *          *                  *                     * 

*                                  *      *

*        *          *                  *                     * 

*                                  *      *

New York Community Bancorp, Inc.

Page 6

Our 2Q 2010 performance reflects the merits of our

business model.

(a)

Please see page 36 for a reconciliation of our GAAP and operating earnings.

(b)

Please see page 34 for a reconciliation of our GAAP and operating efficiency ratios.

(dollars in thousands, except per share data)

New York Community Bancorp, Inc.

Page 7

Our balance sheet was also enhanced in 2Q 2010.

New York Community Bancorp, Inc.

Page 8

Our asset quality measures continued to compare

favorably with those of our industry as a whole.

(a)

SNL Financial as of 7/29/10

(b)

Non-performing loans are defined as non-accrual loans and loans 90 days or more past due but still accruing interest.

(c)

Non-performing loans exclude covered loans.

(d)

Non-performing assets exclude covered assets.

New York Community Bancorp, Inc.

Page 9

(a)

Please see page 37 for a reconciliation of our GAAP and non-GAAP capital measures.

Our capital strength reflects the growth of our earnings

and our ability to access the capital markets.

Our dividend has been a significant component of our total return to shareholders

since our first year of public life.

In July 2010, we declared our 26th consecutive quarterly cash dividend of $0.25 per

share.

Our Business Model:

Growth through Acquisitions

*        *          *                  *                     * 

*                                  *      *

*        *          *                  *                     * 

*                                  *      *

New York Community Bancorp, Inc.

Page 11

We have completed 10 acquisitions since 2000.

Note:

The number of branches indicated

reflects the number of branches in our current franchise

that stemmed from each transaction.

Transaction Type: 

Savings Bank

Commercial Bank

Branch

FDIC

New York Community Bancorp, Inc.

Page 12

As a result of our acquisitions, we rank among the

top 25 financial institutions in the nation.

(in thousands)

DEPOSITS

Rank

Company

Total Deposits

1

Bank of America Corporation

$974,467,000

2

JPMorgan Chase & Co.

887,805,000

3

Wells Fargo & Company

815,623,000

4

Citigroup Inc.

813,951,000

5

U.S. Bancorp

183,123,000

6

PNC Financial Services Group, Inc.

178,799,000

7

Bank of New York Mellon Corporation

143,667,000

8

SunTrust Banks, Inc.

118,668,103

9

Capital One Financial Corporation

117,331,000

10

BB&T Corporation

104,451,000

11

Regions Financial Corporation

96,250,000

12

State Street Corporation

95,743,000

13

Fifth Third Bancorp

82,115,000

14

KeyCorp

62,375,000

15

Northern Trust Corporation

57,952,100

16

M&T Bank Corporation

47,522,671

17

Zions Bancorporation

42,013,876

18

Huntington Bancshares Incorporated

39,848,507

19

Comerica Incorporated

39,780,000

20

Marshall & Ilsley Corporation

39,562,000

21

Popular, Inc.

27,114,000

22

Synovus Financial Corp.

26,257,563

23

Hudson City Bancorp, Inc.

25,168,465

24

New York Community Bancorp, Inc.

22,443,668

25

City National Corporation

17,972,913

ASSETS

Rank

Company

Total Assets

1

Bank of America Corporation

$2,363,878,000

2

JPMorgan Chase & Co.

2,014,019,000

3

Citigroup Inc.

1,937,656,000

4

Wells Fargo & Company

1,225,862,000

5

U.S. Bancorp

283,243,000

6

PNC Financial Services Group, Inc.

261,695,000

7

Bank of New York Mellon Corporation

235,693,000

8

Capital One Financial Corporation

197,489,000

9

SunTrust Banks, Inc.

170,668,470

10

State Street Corporation

162,075,000

11

BB&T Corporation

155,083,000

12

Regions Financial Corporation

135,340,000

13

Fifth Third Bancorp

112,025,000

14

KeyCorp

94,167,000

15

Northern Trust Corporation

80,048,900

16

M&T Bank Corporation

68,153,616

17

Hudson City Bancorp, Inc.

60,933,134

18

Comerica Incorporated

55,885,000

19

Marshall & Ilsley Corporation

53,904,000

20

Zions Bancorporation

52,147,295

21

Huntington Bancshares Incorporated

51,770,838

22

Popular, Inc.

42,444,000

23

New York Community Bancorp, Inc.

42,010,747

24

Synovus Financial Corp.

32,382,340

25

First Horizon National Corporation

26,254,226

Source:  SNL Financial.  Balance sheet data

as of 6/30/10.  Market data as of 7/29/10.

MARKET CAPITALIZATION

Rank

Company

Market Cap

1

JPMorgan Chase & Co.

$159,866.9

2

Wells Fargo & Company

144,857.4

3

Bank of America Corporation

140,763.2

4

Citigroup Inc.

119,378.7

5

U.S. Bancorp

45,893.0

6

PNC Financial Services Group, Inc.

31,290.0

7

Bank of New York Mellon Corporation

30,666.7

8

State Street Corporation

19,565.7

9

Capital One Financial Corporation

19,186.6

10

BB&T Corporation

17,354.1

11

SunTrust Banks, Inc.

12,978.2

12

Northern Trust Corporation

11,496.9

13

M&T Bank Corporation

10,367.0

14

Fifth Third Bancorp

10,208.8

15

Regions Financial Corporation

9,281.8

16

New York Community Bancorp, Inc.

7,521.2

17

KeyCorp

7,431.6

18

Comerica Incorporated

6,839.3

19

Hudson City Bancorp, Inc.

6,582.6

20

People's United Financial, Inc.

5,133.3

21

Huntington Bancshares Incorporated

4,342.7

22

TFS Financial Corporation (MHC)

3,835.4

23

Zions

Bancorporation

3,822.0

24

Marshall & Ilsley Corporation

3,719.6

25

Cullen/Frost Bankers, Inc.

3,374.3

New York Community Bancorp, Inc.

Page 13

Largely reflecting our acquisition strategy, we

currently have 278 locations in five states.

Metro New York

158 Branches

Ohio

29 Branches

New Jersey

52 Branches

Florida

25 Branches

Arizona

14 Branches

New York Community Bancorp, Inc.

Page 14

FDIC-assisted transactions have enhanced our franchise,

our balance sheet, and our earnings capacity.

AmTrust

Bank

Desert Hills Bank

Franchise Expansion:

Added 29 branches in Ohio, 25 in Florida, and

11 in Arizona

Added three more branches to our franchise

in Arizona

Improved Funding Mix:

Provided deposits of $8.2 billion in December

2009

Provided

deposits of approximately $375

million at 3/31/10

Enhanced Liquidity:

Provided cash and cash equivalents of $4.0

billion, and $760.0 million of available-for-sale

securities

Provided cash and cash equivalents of $140.9

million

Stronger Tangible

Capital:

Raised $864.9 million through a secondary

common stock offering in December to

capitalize the acquisition; resulted in a 27%

linked-quarter increase in tangible book value

per share

Raised $28.9 million through our DRP to

capitalize the acquisition, further enhancing

our tangible book value per share

Enhanced Earnings

Capacity:

Immediately beneficial to our 4Q 2009

earnings; contributed significantly to year-

over-year earnings growth in 1H 2010

Expected to be incrementally accretive to

2010 earnings

New York Community Bancorp, Inc.

Page 15

(a)

SNL Financial

We have a meaningful share of deposits in several of the

markets we serve.

(a)

New York Community Bancorp, Inc.

Page 16

Total deposits: 33.4% CAGR

Core deposits: 39.2% CAGR

Demand deposits: 43.0% CAGR

(in millions)

CDs

NOW, MMAs, and Savings

Demand deposits

Deposits

Total Deposits:

$12,168

$12,694

$13,236

$14,376

Our deposit growth has been largely acquisition-

driven.

$22,316

$1,086

$22,444

New York Community Bancorp, Inc.

Page 17

(in millions)

Non-Covered Loan Portfolio

Multi-family

CRE

All Other Loans (includes loans held for sale)

Covered Loan Portfolio

Loans Outstanding

Multi-family loans: 27.2% CAGR

Total loans: 31.8% CAGR

$1,611

$17,029

$19,653

Total Loans:

$677

$6,332

$4,971

Total Originations

(a)

:

$29,150

$3,130

$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

$28,393

$4,280

(a) Originations of loans held for sale totaled $888 million in 2009 and $1.4 billion in 1H 2010.

Our Business Model:

Multi-family Loan Production

*        *          *                  *                     * 

*                                  *      *

*        *          *                  *                     * 

*                                  *      *

New York Community Bancorp, Inc.

Page 19

(in millions)

Multi-family Loan Portfolio

Multi-family loans have grown at a CAGR of 27.2%

since 12/31/99.

New York Community Bancorp, Inc.

Page 20

(in millions)

Commercial Real Estate Loan Portfolio

Our commercial real estate loans feature the same

structure as our multi-family loans.

New York Community Bancorp, Inc.

Page 21

(in millions)

Mortgage Banking

Production

As a result of our acquisition of AmTrust’s

mortgage banking operation, we

have become a leading aggregator of Fannie Mae/Freddie Mac conforming

one-

to four-family residential loans.

1H 2010 Total:  $3.44 billion

New York Community Bancorp, Inc.

Page 22

All of the loans acquired in the AmTrust and Desert Hills acquisitions

are covered by loss sharing agreements with the FDIC.

(in millions)

Total covered loans:  $4.6 billion

Covered Loans

6/30/10

1-4 Family

$4,153.0

Other Loans

$473.6

(a)

Includes covered OREO as well as covered loans.

Percent of total loans:  15.9%

Our Business Model:

Asset Quality

*        *          *                  *                     * 

*                                  *      *

*        *          *                  *                     * 

*                                  *      *

New York Community Bancorp, Inc.

Page 24

Net Charge-offs / Average Loans

NYB Net Charge-offs:

$22,000

$222,000

$458,000

$6.1 million

$431,000

Both historically and currently, we have been

distinguished by our low level of net charge-offs.

$29.9 million

NYB

SNL

Bank

and

Thrift

Index

(a)

(a)

SNL Financial as of 7/29/10

Last Credit Cycle

Current Credit Cycle

$28.9 million

New York Community Bancorp, Inc.

Page 25

The quality of our loan portfolio continues to exceed

that of our industry, as it has in the past.

(a)

Non-performing loans are defined as non-accrual loans and loans 90 days or more past due but still accruing interest.

(b)

Non-performing loans exclude covered loans.

(c)

SNL Financial as of 7/29/10

NYB

SNL

Bank

and

Thrift

Index

(c)

Non-performing Loans / Total Loans

(a)

Last Credit Cycle

Current Credit Cycle

New York Community Bancorp, Inc.

Page 26

(a)

SNL Financial as of 7/29/10

Net Charge-offs / Average Loan Loss Allowance

As in the past, our charge-offs represent a smaller percentage

of our loan loss allowance compared to our industry peers.

Last Credit Cycle

Current Credit Cycle

NYB

SNL

Bank

and

Thrift

Index

(a)

New York Community Bancorp, Inc.

Page 27

Historically and currently, few of our non-performing loans

have resulted in charge-offs.

At or for the 12 Months Ended December 31,

At or for the

3 Months Ended

Last Credit Cycle

Current Credit Cycle

1990

1991

1992

2007

2008

2009

6/30/2010

NPLs / Total Loans

(a)(b)

2.48%

2.10%

2.83%

0.11%

0.51%

2.04%

2.26%

NCOs / Average Loans

0.00%

0.04%

0.07%

0.00%

0.03%

0.13%

0.07%

Difference

248 bp

206 bp

276 bp

11 bp

48 bp

191 bp

219 bp

(a)

Non-performing loans are defined as non-accrual loans and loans 90 days or more past due but still accruing interest.

(b)

Non-performing loans exclude covered loans.

New York Community Bancorp, Inc.

Page 28

The quality of our assets reflects the nature of our multi-family

lending niche and our strong underwriting standards.

Our Business Model:

Efficiency

*        *          *                  *                     * 

*                                  *      *

*        *          *                  *                     * 

*                                  *      *

New York Community Bancorp, Inc.

Page 30

Our operating efficiency ratio was 36.56%

(a)

in 2Q 2010, well

below

the

SNL

Bank

and

Thrift

Index

efficiency

ratio

of

59.75%.

(b)

(a)

Please see pages 34 and 35 for a reconciliation of our GAAP and operating efficiency ratios.

(b)

SNL Financial as of 7/29/10

NYB

(a)

SNL

Bank

and

Thrift

Index

(b)

Total Return on Investment

*        *          *                  *                     * 

*                                  *      *

*        *          *                  *                     * 

*                                  *      *

New York Community Bancorp, Inc.

Page 32

Total Return on Investment

NYB

(b)

CAGR since IPO

= 33.8%

(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.

SNL

Bank

&

Thrift

Index

(a)

One-Year

Total Return: 

32.5%

We are committed to building value for our

investors.

Y-T-D

Total Return: 

22.9%

New York Community Bancorp, Inc.

Page 33

8/3/2010

For More Information

New York Community Bancorp, Inc.

Page 34

For the Three Months Ended

June 30, 2010

March 31, 2010

June 30, 2009

(dollars in thousands)

GAAP

Operating

GAAP

Operating

GAAP

Operating

Total net interest income and non-interest income

$374,614

$374,614

$349,628

$349,628

$199,874

$199,874

Adjustments:

Loss on other-than-temporary impairment of securities

--

--

--

--

--

39,728

Gain on business acquisition

--

(10,780)

--

--

--

--

Adjusted total net interest income and non-interest income

$374,614

$363,834

$349,628

$349,628

$199,874

$239,607

Operating expenses

$133,488

$133,488

$128,855

$128,855

$101,927

$101,927

Adjustments:

FDIC special assessment

--

--

--

--

--

(13,952)

Acquisition-related expenses

--

(456)

--

(2,682)

--

--

Adjusted operating expenses

$133,488

$133,032

$128,855

$126,173

$101,927

$  87,975

Efficiency ratio

35.63%

36.56%

36.85%

36.09%

51.00%

36.72%

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 June 30, 2010, March

31, 2010, and June 30, 2009:

New York Community Bancorp, Inc.

Page 35

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, 2005, 2006,

2007, 2008, and 2009.

For the Years Ended December 31,

2009

2008

2007

2006

2005

(dollars in thousands)

GAAP

Operating

GAAP

Operating

GAAP

Operating

GAAP

Operating

GAAP

Operating

Total net interest income and

non-interest income

$1,062,964

$1,062,964

$691,024

$691,024

$727,622

$727,622

$650,556

$650,556

$693,068

$693,068

Adjustments:

Gain on debt repurchases and exchange

--

(10,054)

--

--

--

--

--

--

--

--

Gain on AmTrust

transaction

--

(139,607)

--

--

--

--

--

--

--

--

Gain on termination of servicing hedge

--

(3,078)

--

--

--

--

--

--

--

--

Visa-related gain

--

--

--

(1,647)

--

--

--

--

--

--

Net gain on sale of securities

--

--

--

--

--

(1,888)

--

--

--

--

Loss on mark-to-market of interest  rate swaps

--

--

--

--

--

--

--

6,071

--

--

(Gain) loss on debt redemption

--

--

--

(16,962)

--

1,848

--

1,859

--

--

Loss on other-than-temporary impairment of

securities

--

96,533

--

104,317

--

56,958

--

--

--

--

Balance sheet repositioning charge

--

--

--

39,647

--

--

--

--

--

--

Gain on sale of bank-owned property /

branches

--

--

--

--

--

(64,879)

--

--

--

--

Adjusted

total

net

interest

income

and

non-

interest income

$1,062,964

$1,006,758

$691,024

$816,379

$727,622

$719,661

$650,556

$658,486

$693,068

$693,068

Operating expenses

$384,003

$384,003

$320,818

$320,818

$299,575

$299,575

$256,362

$256,362

$236,621

$236,621

Adjustments:

FDIC special assessment

--

(14,753)

--

--

--

--

--

--

--

--

Acquisition-related costs

--

(5,185)

--

--

--

--

--

--

--

--

Merger-related charge

--

--

--

--

--

(2,245)

--

(5,744)

--

(36,588)

VISA litigation charge

--

--

--

(3,365)

--

(1,000)

--

--

--

--

Retirement charge

--

--

--

--

--

--

--

(3,072)

--

--

Adjusted operating expenses

$384,003

$364,065

$320,818

$317,453

$299,575

$296,330

$256,362

$247,546

$236,621

$200,033

Efficiency ratio

36.13%

36.16%

46.43%

38.89%

41.17%

41.18%

39.41%

37.59%

34.14%

28.86%

New York Community Bancorp, Inc.

Page 36

The following table presents reconciliations of the Company’s GAAP and operating earnings for the three months ended June 30, 2010, March 31,

2010, and June 30, 2009:

Reconciliation of GAAP and Operating Earnings

For the Three Months Ended

June 30,

March 31,

June 30,

(in thousands, except per share data)

2010

2010

2009

GAAP Earnings

$136,258

$124,149

$ 56,448

Adjustments to GAAP earnings:

Loss on OTTI of securities

--

--

39,728

Gain on business acquisition

(10,780)

--

--

Acquisition-related expenses

456

2,682

--

FDIC special assessment

--

--

13,952

Income tax effect

4,008

(956)

(21,075)

Operating earnings

$129,942

$125,875

$ 89,053

Diluted GAAP Earnings per Share

$ 0.31

$0.29

$0.16

Adjustments to diluted GAAP earnings per share:

Loss on OTTI of securities

--

--

0.07

Gain on business acquisition

(0.01)

--

--

Acquisition-related expenses

--

--

--

FDIC special assessment

--

--

0.03

Diluted operating earnings per share

$ 0.30

$0.29

$0.26

New York Community Bancorp, Inc.

Page 37

Reconciliation of GAAP and Non-GAAP Capital

Measures

June 30,

March 31,

June 30,

(dollars in thousands)

2010

2010

2009

Total stockholders’

equity

$ 5,446,434

$ 5,413,461

$ 4,210,666

Less: Goodwill

(2,436,327)

(2,436,401)

(2,436,401)

Core deposit intangibles

(93,226)

(101,108)

(76,617)

Tangible stockholders’

equity

$ 2,916,881

$ 2,875,952

$ 1,697,648

Total assets

$42,010,747

$42,430,737

$32,860,123

Less: Goodwill

(2,436,327)

(2,436,401)

(2,436,401)

Core deposit intangibles

(93,226)

(101,108)

(76,617)

Tangible assets

$39,481,194

$39,893,228

$30,347,105

Stockholders’

equity to total assets

12.96%

12.76%

12.81%

Tangible stockholders’

equity to tangible assets

7.39%

7.21%

5.59%

Tangible stockholders’

equity

$2,916,881

$2,875,952

$1,697,648

Accumulated other comprehensive loss, net of tax

52,805

53,852

76,301

Adjusted tangible stockholders’

equity

$2,969,686

$2,929,804

$1,773,949

Tangible assets

$39,481,194

$39,893,228

$30,347,105

Accumulated other comprehensive loss, net of tax

52,805

53,852

76,301

Adjusted tangible assets

$39,533,999

$39,947,080

$30,423,406

Adjusted tangible stockholders’

equity to adjusted

tangible assets

7.51%

7.33%

5.83%

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 June 30, 2010, March 31, 2010, and June 30,

2009: