Flagstar Financial (FLG) 8-K Forward-looking Statements and Associated Risk Factors

First Quarter 2013

Investor Presentation

Exhibit 99.1

New York Community Bancorp, Inc.

Page 2

Forward-looking Statements and Associated Risk Factors

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

our

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

real

estate

values,

which

could

impact

the

quality

of

the

assets

securing

the

loans

in

our

portfolio;

changes

in

interest

rates,

which

may

affect

our

net

income,

prepayment

penalty

income,

mortgage

banking

income,

and

other

future

cash

flows,

or

the

market

value

of

our

assets,

including

our

investment

securities;

changes

in

the

quality

or

composition

of

our

loan

or

securities

portfolios;

changes

in

our

capital

management

policies,

including

those

regarding

business

combinations,

dividends,

and

share

repurchases,

among

others;

our

use

of

derivatives

to

mitigate

our

interest

rate

exposure;

changes

in

competitive

pressures

among

financial

institutions

or from

non-

financial

institutions;

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;

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;

changes

in

our

customer

base

or

in

the

financial

or

operating

performances

of

our

customers’

businesses;

any

interruption

in

customer

service

due

to

circumstances

beyond

our

control;

our

ability

to

retain

key

personnel;

potential

exposure

to

unknown

or

contingent

liabilities

of

companies

we

have

acquired

or

may

acquire

in

the

future;

the

outcome

of

pending

or

threatened

litigation,

or

of

other

matters

before

regulatory

agencies,

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;

any

interruption

or

breach

of

security

resulting

in

failures

or

disruptions

in

customer

account

management,

general

ledger,

deposit,

loan,

or

other

systems;

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

legislation,

regulation,

policies,

or

administrative

practices,

whether

by

judicial,

governmental,

or

legislative

action,

including,

but

not

limited

to,

the

Dodd-Frank

Wall

Street

Reform

and

Consumer

Protection

Act,

and

other

changes

pertaining

to

banking,

securities,

taxation,

rent

regulation

and

housing,

financial

accounting

and

reporting,

environmental

protection,

and

insurance,

and

the

ability

to

comply

with

such

changes

in

a

timely

manner;

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;

changes

in

accounting

principles,

policies,

practices,

or

guidelines;

any

breach

in

performance

by

the

Community

Bank

under

our

loss

sharing

agreements

with

the

FDIC;

changes

in

our

estimates

of

future

reserves

based

upon

the

periodic

review

thereof

under

relevant

regulatory

and

accounting

requirements;

changes

in

regulatory

expectations

relating

to

predictive

models

we

use

in

connection

with

stress

testing

and

other

forecasting

or

in

the

assumptions

on

which

such

modeling

and

forecasting

are

predicated;

the

ability

to

successfully

integrate

any

assets,

liabilities,

customers,

systems,

and

management

personnel

of

any

banks

we

may

acquire

into

our

operations,

and

our

ability

to

realize

related

revenue

synergies

and

cost

savings

within

expected

time

frames;

changes

in

our

credit

ratings

or

in

our

ability

to

access

the

capital

markets;

war

or

terrorist

activities;

and

other

economic,

competitive,

governmental,

regulatory,

technological,

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,

2012,

including

the

section

entitled

“Risk

Factors,”

on

file

with

the

U.S.

Securities

and

Exchange

Commission

(the

“SEC”).

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

or

our

debt

or

equity

securities

may

occur.

In

addition,

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

New York Community Bancorp ranks among the top 25 bank

holding companies in the United States.

Note:  Except as otherwise indicated, all industry data was provided by SNL Financial as of 4/30/13.

(a)

SNL Financial

(b)

Bloomberg

Assets

Deposits

Multi-Family

Loans

Market Cap

Total Return

on Investment

$44.5 billion

$25.5 billion

$19.2 billion

$5.9 billion

3,436%

With assets of

$44.5

billion

at

3/31/13, we are

currently the 20th

largest bank

holding company

in the nation.

(a)

With deposits of

$25.5

billion

at

3/31/13

and

275

branches

in

Metro

New York, New

Jersey, Ohio,

Florida, and

Arizona, we

currently rank 23rd

among the nation’s

largest

depositories.

(a)

With a portfolio of

$19.2

billion

at

the

end of December,

we are a leading

producer of multi-

family loans in

New York City.

(a)

With a market cap

of

$5.9

billion

at

3/31/13, we rank

18th among the

nation’s publicly

traded banks and

thrifts.

(a)

From 11/23/93

through 3/31/13,

we provided our

investors with a

total return on

investment of

3,436%.

(b)

New York Community Bancorp, Inc.

Page 4

Largely reflecting our growth-through-acquisition strategy, we

currently have 275 locations in five states.

Metro New York

121 Community Bank Branches

35 Commercial Bank Branches

Ohio

28 Community Bank Branches

New Jersey

51 Community Bank Branches

Florida

26 Community Bank Branches

Arizona

14 Community Bank Branches

1st Quarter 2013

Performance Highlights

*

*

*

*

*

*

*

New York Community Bancorp, Inc.

Page 6

(dollars in thousands, except per share data)

PERFORMANCE HIGHLIGHTS

1Q 2013

GAAP Earnings

Cash Earnings

(a)

Strong Profitability Measures:

Earnings

$118,675

$128,569

EPS

$0.27

$0.29

Return

on

average

tangible

assets

(b)

1.19%

1.26%

Return

on

average

tangible

stockholders’

equity

(b)

15.34%

16.25%

A Stable Margin:

Net interest margin

2.95%

2.95%

Continued Efficiency:

Efficiency ratio

(c)

43.25%

41.67%

(a)

Cash earnings is a non-GAAP financial measure. Please see page 36 for a reconciliation of our GAAP and cash earnings.

(b)

ROTA and ROTE are non-GAAP financial measures. Please see page 37 for additional information.

(c)

Please see page 38 for a reconciliation of our GAAP and cash efficiency ratios.

We generated solid earnings in 1Q 2013.

New York Community Bancorp, Inc.

Page 7

Our 3/31/13 balance sheet reflects continued strength.

PERFORMANCE HIGHLIGHTS:

3/31/13

12/31/12

Loans, net / total assets

71.4%

71.5%

Securities / total assets

12.3

11.1

Deposits / total assets

57.2

56.4

Core deposits / total deposits

66.0

63.3

Wholesale borrowings / total assets

28.8

29.6

New York Community Bancorp, Inc.

Page 8

Our asset quality measures continue to compare favorably

with those of our industry as a whole.

At or for the Three Months Ended

3/31/13

12/31/12

ASSET QUALITY:

NYCB

SNL U.S.

Bank and

Thrift Index

NYCB

SNL U.S.

Bank and

Thrift Index

Non-performing loans

(a)(b)

/ total loans

(a)

0.69%

1.53%

0.96%

2.22%

Non-performing assets

(c)

/ total assets

(c)

0.64

1.20

0.71

1.09

Net charge-offs / average loans

(d)

0.02

0.23

0.01

0.27

(a)

Non-performing loans and total loans exclude covered loans.

(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 assets and total assets exclude covered loans and covered OREO.

(d)

Non-annualized

New York Community Bancorp, Inc.

Page 9

(a)

Tangible stockholders’

equity and tangible assets are non-GAAP financial measures. Please see page 39 for additional information.

(dollars in billions)

3/31/13

12/31/12

Tangible stockholders’

equity / tangible assets excluding

accumulated other comprehensive loss, net of tax

(a)

7.75%

7.79%

Tangible stockholders’

equity

(a)

$3.2

$3.2

We continue to maintain a strong capital position.

3/31/13

12/31/12

Community Bank

Commercial Bank

Community Bank

Commercial Bank

Leverage capital ratio

8.31%

11.26%

8.33%

11.59%

Tier 1 capital ratio

12.40

16.53

12.50

16.64

Total capital ratio

13.14

17.05

13.22

17.24

A Successful

Business Model

*

*

*

*

*

*

*

New York Community Bancorp, Inc.

Page 11

Our business model has consistently focused on building

value for our investors. 

Multi-Family

Lending

Strong Credit

Standards/

Superior Asset

Quality

Residential

Mortgage

Banking

Efficient

Operation

Growth

through

Acquisitions

Multi-family loans

represented $19.2

billion, or 68.4%, of

total non-covered

loans held for

investment at

3/31/13.

Net charge-offs

represented 0.02%

of average loans in

1Q 2013.

Since acquiring our

residential

mortgage banking

operation in

December 2009,

we have originated

$31.9 billion of 1-4

family loans for

sale and generated

mortgage banking

income of $481.4

million.

Our efficiency ratio

has consistently

ranked in the top

3% of all banks and

thrifts and was

43.25% in 1Q 2013.

Our assets have

grown from $1.9

billion to $44.5

billion since our

first acquisition in

November 2000.

Multi-Family

Loan Production

*

*

*

*

*

*

*

New York Community Bancorp, Inc.

Page 13

Our focus on multi-family lending on rent-regulated buildings has

enabled us to distinguish ourselves from our industry peers.

60.9%

of

the

rental

housing

units

in

New

York

City

are

subject

to

rent

regulation

and

therefore

feature

below-market

rents.

(a)

Rent-regulated buildings are more likely to retain their tenants and,

therefore, their revenue stream in a downward credit cycle.

Our focus on multi-family lending in this niche market has contributed to

our record of asset quality.

Multi-family loans are less costly to produce and service than other types

of loans, and therefore contribute to our superior efficiency.

(a)

Source:  New York City Rent Guidelines Board 2012 Housing Supply Report

New York Community Bancorp, Inc.

Page 14

(in millions)

We are the leading producer of multi-family loans for

portfolio in New York City.

PORTFOLIO STATISTICS

AT 3/31/13

% of non-covered loans held for

investment = 68.4%

Average principal balance = $4.2 million

Expected weighted average life = 2.9 years

1Q 2013 originations = $1.5 billion

% of our multi-family loans located in Metro

New York = 91.5%

MULTI-FAMILY

LOAN PORTFOLIO

New York Community Bancorp, Inc.

Page 15

COMMERCIAL REAL ESTATE

LOAN PORTFOLIO

(in millions)

Our commercial real estate loans feature the same structure

as our multi-family loans.

PORTFOLIO STATISTICS

AT 3/31/13

% of non-covered loans held for

investment = 26.8%

Average principal balance = $4.7 million

Expected weighted average life = 3.4 years

1Q 2013 originations = $386.4 million

% of our CRE loans located in Metro New

York = 95.3%

Our CRE loans are typically collateralized by

office buildings, retail centers, mixed-use

buildings, and multi-tenanted light industrial

properties.

Asset

Quality

*

*

*

*

*

*

*

New York Community Bancorp, Inc.

Page 17

The quality of our assets has improved dramatically since

the peak of non-performance at 3/31/10.

Y-O-Y IMPROVEMENT

at 3/31/13

NPLs / Total Loans: 

46 bp

NPAs / Total Assets: 

29 bp

(a)

Non-performing loans and total loans exclude covered loans.

(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 assets and total assets exclude covered loans and covered OREO.

Non-Performing Loans

(a)(b)

/ Total Loans

(a)

Non-Performing Assets

(c)

/ Total Assets

(c)

New York Community Bancorp, Inc.

Page 18

Last Credit Cycle

We

have

been

distinguished

by

our

low

level

of

net

charge-offs

in

downward

credit

cycles,

and

by

52

consecutive

quarters

with

no

losses

on

assets

generated

by

the

Company.

(a)

NET CHARGE-OFFS / AVERAGE LOANS

5-Year Total

NYCB:  17 bp

SNL U.S. Bank and Thrift Index:  540 bp

5.25-Year Total

NYCB:  87 bp

SNL U.S. Bank and Thrift Index:  1,062 bp

Current Credit Cycle

(a)

1Q 1995 –

4Q 2007

(b)

Non-annualized.

SNL U.S. Bank and Thrift Index

NYCB

0.54%

1.28%

1.50%

1.17%

0.91%

1.63%

2.84%

2.89%

1.78%

1.25%

0.23%

(b)

0.00%

0.00%

0.04%

0.07%

0.06%

0.03%

0.13%

0.21%

0.35%

0.13%

0.02%

(b)

1989

1990

1991

1992

1993

2008

2009

2010

2011

2012

1Q 2013

New York Community Bancorp, Inc.

Page 19

The quality of our loan portfolio continues to exceed that of

our industry.

NON-PERFORMING LOANS

(a)(b)

/ TOTAL LOANS

(a)

Last Credit Cycle

Current Credit Cycle

(a)

Non-performing loans and total loans exclude covered loans.

(b)

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

SNL U.S. Bank and Thrift Index

NYCB

2.91%

4.00%

4.05%

3.41%

2.35%

2.71%

4.17%

3.56%

2.60%

2.22%

1.53%

1.46%

2.48%

2.10%

2.83%

1.51%

0.51%

2.47%

2.63%

1.28%

0.96%

0.69%

12/31/89

12/31/90

12/31/91

12/31/92

12/31/93

12/31/08

12/31/09

12/31/10

12/31/11

12/31/12

3/31/13

New York Community Bancorp, Inc.

Page 20

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

(a)

Current Credit Cycle

(a)

1989

1990

1991

1992

1993

2008

2009

2010

2011

2012

3/31/13

NPLs

(b)(c)

/ Total Loans

(b)

1.46%

2.48%

2.10%

2.83%

1.51%

0.51%

2.47%

2.63%

1.28%

0.96%

0.69%

NCOs / Average Loans

0.00%

0.00%

0.04%

0.07%

0.06%

0.03%

0.13%

0.21%

0.35%

0.13%

0.02%

(d)

Difference

146 bp

248 bp

206 bp

276 bp

145 bp

48 bp

234 bp

142 bp

93 bp

83 bp

67 bp

(a)

Prior to 2009, the Company had no covered loans.

(b)

Non-performing loans and total loans exclude covered loans.

(c)

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

(d)

Non-annualized.

New York Community Bancorp, Inc.

Page 21

The quality of our assets reflects the nature of our lending niche and our

strong underwriting standards.

Conservative

Underwriting

Active Board

Involvement

Multiple

Appraisals

Risk-Averse Mix of

Non-Covered Loans

Held for Investment

•

Conservative loan-to-

value ratios

•

Conservative debt

coverage ratios: 120%,

except for commercial

real estate (“CRE”)

loans: 130%

•

Multi-family and CRE

loans are based on the

lower of economic or

market value.

•

All loans originated for

portfolio are approved

by the Mortgage or

Credit Committee (a

majority of the Board of

Directors).

•

A member of the

Mortgage or Credit

Committee participates

in inspections on multi-

family loans in excess of

$4.0 million, and CRE

and acquisition,

development, and

construction (“ADC”)

loans in excess of $2.5

million.

•

All properties are

appraised by

independent appraisers.

•

All independent

appraisals are reviewed

by in-house appraisal

officers.

•

A second independent

appraisal is performed

when the loan amount

exceeds $5.0 million.

•

Multi-family:  68.4%

•

CRE:  26.8%

•

ADC:  1.4%

•

One-to-

Four

Family:

1.1%

•

Commercial and

Industrial:  2.1%

New York Community Bancorp, Inc.

Page 22

The loans and OREO acquired in our FDIC-assisted transactions are

covered by loss sharing agreements, thus mitigating credit risk.

(in millions)

COVERED ASSETS

Residential

Mortgage Banking

*

*

*

*

*

*

*

New York Community Bancorp, Inc.

Page 24

Our residential mortgage banking operation is a leading aggregator of

agency-conforming one-to-four family loans.

History

•

Acquired through our AmTrust Bank transaction in December 2009

•

Established as a subsidiary of New York Community Bank in April 2010

Productivity

•

We rank among the top 15 aggregators of one-to-four family loans for sale in

the U.S.

•

Since January 2010, we have aggregated 118,430 one-to-four family loans

for sale totaling $31.3 billion.

Credit Quality

•

As of March 31, 2013, 99.8% of all funded loans were current.

Limited

Repurchase Risk

•

The Company’s loan repurchase exposure is comparatively low, as we

benefit from the industry’s more stringent credit and documentation

standards, which have been in effect since we entered the residential

mortgage banking business in January 2010.

Benefits

•

Since the inception of our mortgage banking business, we have generated

mortgage banking income of $481.4 million, including $26.1 million in 1Q

2013.

•

Our proprietary mortgage banking platform gives us the capacity to expand

our revenues, market share, and product line.

•

Mortgage banking income has supported the stability of our return on

average tangible assets, even as market interest rates have declined.

New York Community Bancorp, Inc.

Page 25

In a declining interest rate environment, mortgage banking income and

prepayment penalty income have contributed to the stability of our ROTA.

(dollars in millions)

(a)

ROTA is a non-GAAP financial measure.  Please see page 40 for additional information.

New York Community Bancorp, Inc.

Page 26

Our mortgage banking operation generated 34.6% of non-interest

income and 7.4% of total revenues in 1Q 2013.

(in millions)

AT OR FOR THE THREE MONTHS ENDED 3/31/13

1-4 family loans funded in 1Q 2013 = $2.4 billion

% sold to GSEs = 99%

Average FICO = 771

Average loan-to-value ratio = 70%

1Q 2013  mortgage banking income from originations = $25.9 million

FEATURES

Loans can be originated/purchased in all 50 states.

Loan production is driven by our proprietary real time, web-accessible

mortgage banking technology platform.

Our proprietary platform securely controls the lending process, while

mitigating business and regulatory risks.

As a result, our clients cost-effectively compete with the nation’s

largest mortgage lenders.

900+ approved clients include community banks, credit unions,

mortgage companies, and mortgage brokers.

The vast majority of loans funded are agency-eligible 1-4 family loans.

100% of loans funded are full documentation, prime credit loans.

FUNDED 1-4 FAMILY

LOAN PRODUCTION

Efficiency

*

*

*

*

*

*

*

New York Community Bancorp, Inc.

Page 28

Our efficiency is driven by several factors.

Franchise expansion has largely stemmed

from mergers and acquisitions; we generally

do not engage in de novo branch

development.

Multi-family and commercial real estate

lending are both broker-driven, with the

borrower paying fees to the mortgage

brokerage firm.

Products and services are typically

developed by third-party providers and the

sale of these products generates additional

revenues.

40 of our branches are located in-store,

where rental space is less costly, enabling

us to supplement the service provided by

our traditional branches more efficiently.

We acquire our deposits primarily through

earnings-accretive acquisitions rather than

by paying above-market rates.

66.79%

66.10%

63.83%

40.03%

40.75%

43.25%

2011

2012

1Q 2013

EFFICIENCY RATIO

Growth Through

Acquisitions

*

*

*

*

*

*

*

New York Community Bancorp, Inc.

Page 30

In the 13 years since our first acquisition, we have grown

from $1.9 billion in assets to $44.5 billion.

Note:

The number of branches indicated reflects the number of branches in our current franchise that stemmed from each transaction.

New York Community Bancorp, Inc.

Page 31

Our deposit growth has been largely acquisition-driven.

New York Community Bancorp, Inc.

Page 32

(a)

Includes originations of loans held for sale of $888.5 million in 2009, $10.8 billion in 2010, $7.2 billion in 2011, $10.9 billion in 2012, and $2.4 billion in 1Q 2013.

Acquisitions have provided much of the funding for the

organic growth of our loan portfolio.

Total Return

on Investment

*

*

*

*

*

*

*

New York Community Bancorp, Inc.

Page 34

Our quarterly cash dividends are a significant component of

our commitment to building value for our investors.

(a)

Bloomberg

TOTAL RETURN ON INVESTMENT

As a result of nine stock splits between 1994 and 2004, our charter shareholders have 2,700

shares of NYCB stock for each 100 shares originally purchased.

New York Community Bancorp, Inc.

Page 35

5/1/13

For More Information

Visit our web site: 

ir.myNYCB.com

E-mail requests to: 

ir@myNYCB.com

Call Investor Relations at: 

(516) 683-4420

Write to:

Investor Relations

New York Community Bancorp, Inc.

615 Merrick Avenue

Westbury, NY  11590

New York Community Bancorp, Inc.

Page 36

Reconciliations of GAAP and Non-GAAP Financial Measures

Cash earnings is a non-GAAP financial measure. The following table presents a reconciliation of the Company’s GAAP and cash earnings for the three

months ended March 31, 2013.

(in thousands, except per share data)

For the

Three Months Ended

March 31, 2013

GAAP Earnings

$118,675

Additional contributions to tangible stockholders’

equity:

Amortization and appreciation of shares held in stock-related benefit plans

5,537

Associated tax effects

(64)

Amortization of core deposit intangibles

4,421

Total additional contributions to tangible stockholders’

equity

9,894

Cash earnings

$128,569

Diluted GAAP Earnings per Share

$0.27

Add back:

Amortization and appreciation of shares held in stock-related benefit plans

0.01

Associated tax effects

--

Amortization of core deposit intangibles

0.01

Total additions

0.02

Diluted cash earnings per share

$0.29

New York Community Bancorp, Inc.

Page 37

Cash earnings is a non-GAAP financial measure. The following table presents a reconciliation of the Company’s GAAP and cash earnings measures

for the three months ended March 31, 2013.

Reconciliations of GAAP and Non-GAAP Financial Measures

(in thousands, except per share data)

For the

Three Months Ended

March 31,

2013

Average stockholders’

equity

$ 5,630,877

Less:  Average goodwill and core deposit intangibles

(2,466,622)

Average tangible stockholders’

equity

$ 3,164,255

Average assets

$43,243,259

Less:  Average goodwill and core deposit intangibles

(2,466,622)

Average tangible assets

$40,776,637

Net income

$118,675

Add back:  Amortization of core deposit intangibles, net of tax

2,653

Adjusted net income

$121,328

Cash earnings

$128,569

Return on average assets

1.10%

Cash return on average assets

1.19

Return on average tangible assets

1.19

Cash return on average tangible assets

1.26

Return on average stockholders’

equity

8.43

Cash return on average stockholders’

equity

9.13

Return on average tangible stockholders’

equity

15.34

Cash return on average tangible stockholders’

equity

16.25

New York Community Bancorp, Inc.

Page 38

Reconciliations of GAAP and Cash Efficiency Ratios

The following table presents a reconciliation of the Company’s GAAP and cash efficiency ratios for the three months ended March 31, 2013.

For the

Three Months Ended

March 31, 2013

(dollars in thousands)

GAAP

Cash

Total net interest income and non-interest income

$350,727

$350,727

Operating expenses

$151,675

$151,675

Adjustments:

Amortization and appreciation of shares held in stock-

related benefit plans

--

(5,537)

Adjusted operating expenses

$151,675

$146,138

Efficiency ratio

43.25%

41.67%

New York Community Bancorp, Inc.

Page 39

(dollars in thousands)

March 31,

2013

December 31,

2012

Total stockholders’

equity

$ 5,665,614

$ 5,656,264

Less: Goodwill

(2,436,131)

(2,436,131)

Core deposit intangibles

(27,603)

(32,024)

Tangible stockholders’

equity

$ 3,201,880

$ 3,188,109

Total assets

$44,511,718

$44,145,100

Less: Goodwill

(2,436,131)

(2,436,131)

Core deposit intangibles

(27,603)

(32,024)

Tangible assets

$42,047,984

$41,676,945

Stockholders’

equity to total assets

12.73%

12.81%

Tangible stockholders’

equity to tangible assets

7.61%

7.65%

Tangible stockholders’

equity

$3,201,880

$3,188,109

Accumulated other comprehensive loss, net of tax

62,528

61,705

Adjusted tangible stockholders’

equity

$3,264,408

$3,249,814

Tangible assets

$42,047,984

$41,676,945

Accumulated other comprehensive loss, net of tax

62,528

61,705

Adjusted tangible assets

$42,110,512

$41,738,650

Adjusted tangible stockholders’

equity to adjusted tangible assets

7.75%

7.79%

Tangible

and

adjusted

tangible

stockholders’

equity

and

tangible

and

adjusted

tangible

assets

are

non-GAAP

financial

measures.

The

following

table

presents

reconciliations

of

these

non-GAAP

measures

with

the

related

GAAP

measures

at

March

31,

2013

and

December

31,

2012.

Reconciliations of GAAP and Non-GAAP Financial Measures

New York Community Bancorp, Inc.

Page 40

For the Three Months Ended

(dollars in thousands)

March 31,

2013

March 31,

2012

June 30,

2012

September 30,

2012

December 31,

2012

March 31,

2011

June 30,

2011

September 30,

2011

December 31,

2011

Average Assets

$43,243,259

$41,775,013

$41,916,854

$43,205,076

$43,087,846

$40,713,044

$40,853,788

$41,261,984

$41,683,129

Less: Average goodwill and core deposit intangibles

(2,466,622)

(2,486,018)

(2,480,921)

(2,476,056)

(2,471,204)

(2,511,349)

(2,503,966)

(2,497,076)

(2,491,327)

Average tangible assets

$40,776,637

$39,288,995

$39,435,933

$40,729,020

$40,616,642

$38,201,695

$38,349,822

$38,764,908

$39,191,802

Average Stockholders’

Equity

$ 5,630,877

$ 5,528,296

$ 5,565,581

$ 5,557,693

$ 5,498,040

$ 5,511,970

$ 5,458,017

$ 5,501,226

$ 5,535,114

Less: Average goodwill and core deposit intangibles

(2,466,622)

(2,486,018)

(2,480,921)

(2,476,056)

(2,471,204)

(2,511,349)

(2,503,966)

(2,497,076)

(2,491,327)

Average

tangible

stockholders’

equity

$ 3,164,255

$ 3,042,278

$ 3,084,660

$ 3,081,637

$ 3,026,836

$ 3,000,621

$ 2,954,051

$ 3,004,150

$ 3,043,787

Net Income

$118,675

$118,253

$131,212

$128,798

$122,843

$123,176

$119,459

$119,750

$117,652

Add back: Amortization of core deposit intangibles, net of tax

2,653

3,095

2,952

2,913

2,826

4,431

4,286

3,653

3,269

Adjusted net income

$121,328

$121,348

$134,164

$131,711

$125,669

$127,607

$123,745

$123,403

$120,921

Return on average assets

1.10%

1.13%

1.25%

1.19%

1.14%

1.21%

1.17%

1.16%

1.13%

Return on average tangible assets

1.19

1.24

1.36

1.29

1.24

1.34

1.29

1.27

1.23

Return

on

average

stockholders’

equity

8.43

8.56

9.43

9.27

8.94

8.94

8.75

8.71

8.50

Return

on

average

tangible

stockholders’

equity

15.34

15.95

17.40

17.10

16.61

17.01

16.76

16.43

15.89

Average

tangible

assets

and

average

tangible

stockholders’

equity

are

non-GAAP

financial

measures.

The

following

table

presents

reconciliations

of

these

non-GAAP

measures

with

the

related

GAAP

measures

for

the

three

months

ended

March

31,

2013;

March

31,

June

30,

September

30,

and

December

31,

2012;

and

March

31,

June

30,

September

30,

and

December

31,

2011.

Reconciliations of GAAP and Non-GAAP Financial Measures