Flagstar Financial (FLG) 8-K Growing Earnings, Building Capital, and Creating Value

Investor Presentation

November 2015

Re-Launching our Growth Strategy;

Growing Earnings, Building Capital, and Creating Value

Exhibit 99.1

New York Community Bancorp, Inc.

2

Cautionary Statements

These materials do not constitute an offer to sell or a solicitation of an offer to buy any securities or a solicitation of any vote or approval.  New York

Community Bancorp, Inc. (“NYCB”) will file a registration statement on Form S-4 with the SEC in connection with the proposed transaction.  The

registration statement will include a proxy statement of Astoria Financial and NYCB which also will constitute a prospectus of NYCB that will be

sent

to

the

stockholders

of

Astoria

Financial.

Stockholders

are

advised

to

read

the

joint

proxy

statement/prospectus

when

it

becomes

available

because it will contain important information about NYCB, Astoria Financial, and the proposed transaction.  When filed, this document and other

documents relating to the merger filed by NYCB can be obtained free of charge from the SEC’s website at www.sec.gov.  These documents also

can be obtained free of charge by accessing NYCB’s website at www.mynycb.com under the tab “Investor Relations”, then under “Financial

Results”, and then under “SEC Filings.” Alternatively, these documents, when available, can be obtained free of charge from NYCB upon written

request to New York Community Bancorp, Inc., Attn: Corporate Secretary, 615 Merrick Avenue, Westbury, New York 11590 or by calling (516)

683-4100,

or

from

Astoria

Financial

upon

written

request

to

Astoria

Financial

Corporation,

Attn:

Monte

N.

Redman,

President,

One

Astoria

Bank

Plaza, Lake Success, New York 11042 or by calling (516) 327-3000.

NYCB, Astoria Financial, and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of

proxies from Astoria Financial and NYCB stockholders in connection with the proposed transaction under the rules of the SEC.  Certain information

regarding the interests of these participants and a description of their direct and indirect interests, by security holdings or otherwise, will be

included in the joint proxy statement/prospectus regarding the proposed transaction when it becomes available.  Additional information about

NYCB and its directors and officers may be found in the definitive proxy statement of NYCB relating to its 2015 Annual Meeting of Stockholders

filed with the SEC on April 24, 2015.  Additional information about Astoria Financial and its directors and officers may be found in the definitive

proxy statement of Astoria relating to its 2015 Annual Meeting of Stockholders filed with the SEC on April 17, 2015. This definitive proxy statement

can be obtained free of charge from the SEC’s website at www.sec.gov.

Additional

Information

and

Where

to

Find It

Participants

in

Solicitation

New York Community Bancorp, Inc.

3

Cautionary Statements

Forward-Looking

Information

The information presented herein, on the webcast, and in other related communications may contain certain “forward-looking statements” within the

meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, the expected completion date, financial

benefits, and other effects of the proposed merger of New York Community Bancorp, Inc. (“New York Community”) and Astoria Financial Corporation

(“Astoria Financial”).

Forward-looking

statements

can

be

identified

by

the

use

of

the

words

“anticipate,”

“expect,”

“intend,”

“estimate,”

“target,”

and

words

of

similar

import.

Forward-looking statements are not historical facts but instead express only management’s beliefs regarding future results or events, many of which, by

their nature, are inherently uncertain and outside of management’s control. It is possible that actual results and outcomes may differ, possibly materially,

from the anticipated results or outcomes indicated in these forward-looking statements.

Factors that may cause such a difference include, but are not limited to, the reaction to the transaction of the companies’ customers, employees, and

counterparties; customer disintermediation; inflation; expected synergies, cost savings, and other financial benefits of the proposed transaction might

not be realized within the expected timeframes or might be less than projected; the requisite stockholder and regulatory approvals for the proposed

transaction might not be obtained; credit and interest rate risks associated with New York Community’s and Astoria Financial’s respective businesses,

customers,

borrowings,

repayment,

investment,

and

deposit

practices,

and

general

economic

conditions,

either

nationally

or

in

the

market

areas

in

which New York Community and Astoria Financial operate or anticipate doing business, are less favorable than expected; new regulatory or legal

requirements or obligations; and other risks and important factors that could affect New York Community’s and Astoria Financial’s future results are

identified in their Annual Reports on Form 10-K for the year ended December 31, 2014 and in other reports filed with the Securities and Exchange

Commission (“SEC”).

Forward-looking statements are made only as of the date of the presentation, and neither New York Community nor Astoria Financial undertakes any

obligation

to

update

any

forward-looking

statements

contained

in

the

presentation

to

reflect

events

or

conditions

after

the

date

hereof.

Our

Use

of

Non-GAAP

Financial

Measures

This presentation may contain certain non-GAAP financial measures which management believes to be useful to investors in understanding the

Company’s performance and financial condition, and in comparing our performance and financial condition with those of other banks.  Such non-GAAP

financial

measures

are

not

to

be

considered

in

isolation

or

as

a

substitute

for

measures

calculated

in

accordance

with

GAAP.

Reconciliations

of

our

GAAP and non-GAAP financial measures are included in the Appendix and may also be found in our earnings releases and under “Strategies and

Results” at ir.myNYCB.com. 

New York Community Bancorp, Inc.

4

Note:  Except as otherwise indicated, all industry data was provided by SNL Financial as of 11/6/15.

Assets

Multi-Family

Loans

Deposits

Deposit

Market Share

Market Cap

$49.0 billion

$24.7 billion

$28.3 billion

# 4 in

the

NY MSA

$8.0 billion

With assets of

$49.0 billion at

9/30/15, we are

the 22nd largest 

U.S. bank holding

company.

With a portfolio of

$24.7 billion at the

end of September,

we are a leading

producer of multi-

family loans in

New York

City.

With deposits of

$28.3 billion and

269 branches in

Metro New York,

New Jersey, Ohio,

Florida, and

Arizona, we

currently rank 24th

among the nation’s

largest

depositories.

With deposits of

$22.3 billion in the

NY MSA, we

currently rank 4th

among regional

banks.

With a market cap

of $8.0 billion

at

9/30/15, we rank

20th

among the

nation’s publicly

traded banks and

thrifts.

NYCB: Where We Are Today

New York Community Bancorp, Inc.

5

(a)

Pro forma assets, deposits, and multi-family loans are based on our balances and Astoria’s at 9/30/15.

(b)

Our pro forma market cap was calculated by multiplying our closing price at 9/30/15 by the sum of our outstanding shares and Astoria’s at that date.

Pro

Forma

Assets

(a)

Pro Forma

Multi-Family

Loan Portfolio

(a)

Pro Forma

Deposits

(a)

Pro Forma

Deposit Market

Share

Pro Forma

Market Cap

(b)

$64.1 billion

$28.6 billion

$37.3 billion

#2

in the NY MSA

$9.8 billion

With pro forma

assets of $64.1

billion, we expect

to rank 20th

among U.S. bank

holding

companies.

With a pro forma

portfolio of $28.6

billion,

we expect

to augment our

position as a

leading multi-

family lender in

NYC.

With pro forma

deposits of $37.3

billion and over

350

branches in

Metro NY, NJ, OH,

FL, and AZ, we

expect to rank 21st

among the nation’s

largest

depositories.

With

pro forma

deposits of

$31.7

billion in the NY

MSA, we expect

our deposit market

share rank among

regional banks to

rise to #2.

With a pro forma

market cap of $9.8

billion, we expect

to rank 17th

among the nation’s

publicly traded

banks and thrifts.

NYCB with Astoria Financial: Where We’re Going

New York Community Bancorp, Inc.

6

Growth

through

Acquisitions

Multi-Family

Lending

Strong Credit

Standards/

Superior Asset

Quality

Residential

Mortgage

Banking

Efficient

Operation

Since our first

acquisition

in

November 2000,

our assets have

grown from $1.9

billion to $49.0

billion at 9/30/15.

The Astoria

merger

is expected to

result in pro forma

assets of $64.1

billion.

We have originated

$63.7 billion of

multi-family loans

over the course of

our public life.

The Astoria merger

will provide

significant liquidity

to fund the

continued growth

of our multi-family

loan portfolio.

Our

net charge-offs

have averaged a

mere 0.04% since

1993.

With the addition

of Astoria’s loan

portfolio, we

expect our long

history of superior

asset quality to be

maintained.

Since January

2010, our

residential

mortgage banking

operation has

originated $41.9

billion of 1-4 family

loans for sale.

During

that time,

Astoria

has

originated $9.0

billion of 1-4 family

loans for portfolio.

Our efficiency ratio

has consistently

ranked in the top

3% of all banks and

thrifts.

Reflecting

anticipated cost

savings, our record

of efficiency will

also be

maintained.

The Astoria merger is highly consistent with our enduring

business model and commitment to building value for investors. 

New York Community Bancorp, Inc.

7

On October 29, 2015, we announced a highly accretive in-

market merger with Astoria Financial Corporation.

The Merger

Astoria Financial will merge with and into NYCB and Astoria Bank will merge

with and into NYCB’s primary bank subsidiary, New York Community Bank.

Consideration

One-for-one

fixed exchange ratio plus $0.50 per share cash payment

Cost Savings

Approximately 50% of Astoria’s non-interest expense

Merger &

Integration Costs

Approximately $180

million pre-tax

Credit Mark

Approximately 1% of current portfolio less net charge-offs at close

Closing Conditions

Contingent on the approval of NYCB’s and Astoria’s regulators and

shareholders

Other customary closing conditions

Expected Closing

4Q 2016, subject to conditions noted above

New York Community Bancorp, Inc.

8

The Astoria merger presents substantial upside potential

relative to the purchase price.

Source: SNL Financial, company disclosure.

(a)

Time deposits greater than $100k are based on 2Q 2015 regulatory disclosure for Astoria.

(b)

Core deposits reflect total deposits less time deposits greater than $100k.

(c)

Represents

average

for

U.S.

bank-to-bank

M&A

transactions

announced

since

2013

with

deal

values

between

$1 billion

-

$10

billion.

1.49x  

1.80x  

Price / TBVPS

7.7%

12.9%

Core Deposit Premium

20.0%

10.2%

EPS Accretion

6.0%

TBVPS Accretion /

(Dilution)

(a)

(b)

Substantially

Higher

Financial

Returns

Attractive

Purchase

Price

Multiples

NYCB

Bank-to-bank M&A transactions since 2013

(c)

(3.8)%

Growth Through

Acquisitions

New York Community Bancorp, Inc.

10

The Astoria merger represents the re-launch of our growth

strategy.

Significantly Strengthens

our Balance Sheet

De-risking strategies greatly enhance our

balance sheet profile

6% tangible book value per share (TBVPS)

accretion upon closing in 4Q 2016

Boosts deposits by $9 billion and substantially

increases our share of deposits in core

markets

Heightens liquidity while reducing our cost of

funds

Extends our longstanding record of

exceptional asset quality

Reduces our interest rate sensitivity

Builds capital

Significantly Increases

our Earnings

~ 20% pro forma earnings accretion

~ 15.5% return on average tangible common

equity (ROATCE)

Expected cost saves (~ 50% of Astoria’s non-

interest expense) maintain our longstanding

record of efficiency

Expands our margin

Increases our revenue stream

New York Community Bancorp, Inc.

11

Note: Data from SNL Financial as of 6/30/15.

Long Island

Brooklyn

Queens

Westchester

% of Astoria branches near an NYCB branch

The Astoria merger creates New York’s pre-eminent

community bank.

NYCB

Astoria Financial

52%

85%

92%

Within 1 Mile

Within 3 Miles

Within 5 Miles

New York Community Bancorp, Inc.

12

The Astoria merger significantly increases our share of

deposits in the NY MSA.

Note:  Data from SNL Financial as of 6/30/15.

(a)

Excludes international banks and money centers including: JPMorgan, Bank of New York Mellon, HSBC Holdings, Citigroup, Bank of America, TD, Wells

Fargo, Bank of China, and Banco Santander.

(b)

Deposit balances for NYCB based on 6/30/15 regulatory data for New York Community Bank and New York Commercial Bank.

A Stronger Deposit Franchise

Increases our rank among regional banks in the NY MSA from #4 to #2

Boosts our market share in four attractive Metro NY markets: Nassau and Suffolk Counties (Long Island), Queens, and Brooklyn

Infusion of low-cost core deposits enhances our funding mix

Expands our customer base and opportunities to increase non-interest revenues

Potential improvement in deposit pricing power due to increased scale

NYCB Deposits

(b)

: $29 billion

NYCB Cost of I-B Deposits: 0.62%

Pro Forma Deposits

(b)

: $38 billion

Pro Forma Cost of I-B Deposits: 0.57%

N-I-B

2%

I-B Checking

4%

Savg

& MM

63%

Brokered

10%

Retail CDs

19%

Jumbo CDs

2%

N-I-B

2%

I-B Checking

4%

Savg

& MM

60%

Brokered

13%

Retail CDs

17%

Jumbo CDs

3%

2015 Rank

Top Banks in the

NY MSA

(a)

Branches

Deposits ($mm)

1

Capital One

302

$55,860

2

NYCB Pro Forma

291

31,703

2

Signature

29

24,444

3

M&T Bank

178

23,149

4

NYCB

204

22,274

5

PNC

237

19,963

6

Valley National

194

12,937

7

Investors

113

11,787

8

Apple Financial

80

10,337

9

Astoria Financial

87

9,429

10

First Republic

9

9,335

12

New York Community Bancorp, Inc.

13

The Astoria merger will significantly increase our share of

deposits in four highly attractive markets.

Nassau

2015 Rank

Top Banks

Branches

Deposits ($000)

1

JPMorgan Chase & Co.

92

$13,964,179

2

Capital One Financial Corp.

49

10,109,533

3

NYCB Pro Forma

65

10,086,758

3

Citigroup Inc.

46

9,455,824

4

NYCB

37

6,534,120

5

Toronto-Dominion Bank

32

4,825,027

6

Bank of America Corp.

41

4,031,542

7

Astoria Financial Corp.

28

3,552,638

8

Signature Bank

5

2,710,436

9

Flushing Financial Corp.

4

2,374,108

10

Apple Financial Holdings

11

1,938,116

Note:  Data from SNL Financial as of 6/30/15.

Queens

2015 Rank

Top Banks

Branches

Deposits ($000)

1

JPMorgan Chase & Co.

91

$12,396,075

2

Citigroup Inc.

30

7,550,846

3

Capital One Financial Corp.

36

5,773,420

4

NYCB Pro Forma

61

5,641,369

4

NYCB

44

3,406,755

5

Toronto-Dominion Bank

30

3,149,768

6

Astoria Financial Corp.

17

2,234,614

7

HSBC Holdings Plc

17

1,960,130

8

Ridgewood Savings Bank

12

1,866,343

9

Bank of America Corp.

22

1,536,465

10

Maspeth Federal

5

1,080,866

Suffolk

2015 Rank

Top Banks

Branches

Deposits ($000)

1

JPMorgan Chase & Co.

95

$9,911,083

2

Capital One Financial Corp.

52

9,199,284

3

Bank of America Corp.

33

3,796,602

4

Citigroup Inc.

24

3,723,156

5

NYCB Pro Forma

54

3,247,433

5

HSBC Holdings Plc

19

3,113,402

6

Toronto-Dominion Bank

29

2,741,933

7

Bridge Bancorp Inc.

29

2,165,333

8

Astoria Financial Corp.

26

2,062,844

9

Suffolk Bancorp

26

1,699,044

10

People's United

40

1,275,427

12

NYCB

28

1,184,589

Brooklyn

2015 Rank

Top Banks

Branches

Deposits ($000)

1

JPMorgan Chase & Co.

81

$13,084,933

2

Citigroup Inc.

27

5,561,319

3

Banco Santander SA

20

4,674,495

4

Capital One Financial Corp.

31

3,578,731

5

Toronto-Dominion Bank

26

2,906,050

6

HSBC Holdings Plc

20

2,578,225

7

Signature Bank

4

2,209,221

8

NYCB Pro Forma

26

1,974,111

8

Apple Financial Holdings

18

1,792,918

9

Bank of America Corp.

22

1,492,435

10

Dime Community

10

1,263,869

11

Astoria Financial Corp.

12

1,166,054

12

NYCB

14

808,057

New York Community Bancorp, Inc.

14

(a)

Represents sum of NYCB and Astoria per 3Q 2015 disclosure.

Summary Pro Forma

Balance Sheet

Increases our share of NYC’s multi-family lending market

Leverages our mortgage banking platform and Astoria’s

residential mortgage lending expertise

Extends our longstanding record of credit quality and capital

strength

(dollars in billions)

3Q 2015

NYCB

Pro Forma

(a)

Change

Assets

$49.0

$64.1

30.8%

Loans, net

36.5

47.6

30.6

Multi-Family Loans

24.7

28.6

15.9

Total Deposits

28.3

37.3

32.0

Wholesale Borrowings

14.4

18.1

26.2

Stockholders’ Equity

5.8

7.5

28.3

Tangible Stockholders’

Equity

3.4

4.8

43.2

Reflecting its in-market nature and our extensive expertise in post-merger

integration and restructuring, the Astoria merger presents maximal

opportunities for revenue enhancement while minimizing risk.

Capitalizes on

Complementary Business Models

Provides immediate scale to absorb compliance-related

costs

Expedites our ability to comply with LCR requirements

Validates our extensive preparations for D-SIB status

Facilitates our Transition to D-SIB Status

Provides Ample Opportunities

for Continued Earnings and Capital Growth

Post-merger sale of $1+ billion of acquired assets to reduce

credit risk, enhance liquidity, and fund investments in HQLAs

Acquired real estate has embedded value

New York Community Bancorp, Inc.

15

Source: Company filings, regulatory data as of 6/30/15.

(a)

Pro forma based on sum of Astoria and  NYCB loans and deposits.

The Astoria merger enhances our asset and funding mix.

NYCB

Astoria

Pro Forma

(a)

Total Loans and Leases: $36.2bn

MRQ Yield on Loans: 4.0%

Total Loans and Leases: $11.5bn

MRQ Yield on Loans: 3.5%

Total Loans and Leases: $47.7bn

MRQ Yield on Loans: 3.9%

Pro Forma

(a)

NYCB

Astoria

Total Deposits: $28.6bn

MRQ Cost of IB Deposits: 0.62%

Total Deposits: $9.4bn

MRQ Cost of IB Deposits: 0.43%

Total Deposits: $38.0bn

MRQ Cost of IB Deposits: 0.57%

CRE

22%

MF

66%

ADC

1%

C&I

3%

Resi

1-4

7%

Resi

1-4 (Non-Covered)

0%

Other

1%

CRE

7%

MF

34%

C&I

1%

Resi

1-4 (Non-

-

Covered)

58%

CRE

19%

MF

58%

ADC

1%

C&I

2%

Resi

1-4 (Covered)

5%

Resi

1-4 (Non-Covered)

14%

Other

1%

NIB

2%

IB Checking

4%

Savg

& MM

60%

Brokered

14%

Retail CDs

17%

Jumbo CDs

3%

NIB

3%

IB Checking

4%

Savg

& MM

69%

Retail CDs

23%

Jumbo CDs

1%

NIB

2%

IB Checking

4%

Savg

& MM

62%

Brokered

10%

Retail CDs

19%

Jumbo CDs

2%

(Covered)

New York Community Bancorp, Inc.

The Astoria merger provides multiple opportunities to drive

profitable, sustainable, long-term asset growth.

More loans to be retained in portfolio once D-SIB

threshold is exceeded ($2.3 billion of loans sold

from 3Q 2014 through 3Q 2015 to manage our

assets under $50 billion)

Expected sale of acquired (higher-risk) assets to

support loan growth going forward

Facilitates the continuation of our growth-through-

acquisition strategy

Growth Levers

Results

The Pro Forma Company is Primed for Strong Core Asset Growth

Results in greater on-balance sheet capacity to support loan production

Highly liquid residential mortgage loan portfolio provides the flexibility to manage our asset mix

Stronger capital formation and multiple sources of funding and liquidity are available to support growth

Earnings growth

Higher operating leverage

Improved risk profile

Enhanced returns for investors

16

New York Community Bancorp, Inc.

17

De-risking our balance sheet will strengthen our financial

performance in 2016.

Eliminates puttable uprate risk

Improves NPV and NII interest rate

sensitivity ratios

Reduces exposure to rising interest rates

Enhances both liquidity and asset quality

Benefits of De-Risking:

Financial Benefits Expected in

FY 16 from 4Q 15 Repositioning:

~ 10%

~ 35 bps

~ $165 million

~ $100 million

Balance Sheet Repositioning Strategies

In 4Q 2015, we will replace ~ $10 billion of long-term, higher-cost, puttable wholesale borrowings with

lower-cost wholesale borrowings featuring more attractive terms.

While the repositioning will result in a one-time after-tax prepayment charge of ~ $614 million in 4Q 2015, it

will reduce our annual interest expense by ~

$100 million after-tax beginning in 2016. 

Upon completion of the merger, the term on $1.5 billion of short-term borrowings will be extended, reducing

our interest rate sensitivity.

We also expect to sell $1.0 billion of Astoria’s non-performing and higher-risk assets at the close.

EPS accretion:

Net Interest Margin:

Net Interest Income:

Net Income:

New York Community Bancorp, Inc.

18

Our capital management strategy has been enhanced to

strengthen our capital measures and facilitate further growth.

Completed on 11/4/15, our common stock offering:

—

Immediately supported our tangible stockholders’ equity and

Tier 1 common equity; and

—

Offset the impact on capital of the one-time after-tax balance

sheet repositioning charge incurred in 4Q 2015.

Adjusting our expected quarterly cash dividend to $0.17 per share

beginning in 1Q 2016 positions us for sustainable long-term capital

growth, while providing investors with a top-quartile dividend yield

of ~4%.

—

Builds capital to facilitate execution of our growth-through-

acquisition strategy going forward

—

Capital retention further minimizes dilution from our 4Q 2015

capital raise

—

Provides flexibility to maximize value-enhancing capital

deployment strategies going forward

Enhanced Capital Management Strategy

Increased Capital Generation

~ 55

bps

~

90

bps

NYCB Stand-Alone

Pro Forma w/ AF

4Q 2016

12-month bps of Capital Generation

New York Community Bancorp, Inc.

19

36%

46%

2010

3Q 2015

Following enactment of the Dodd-Frank Act, we began allocating significant resources towards D-SIB

preparedness.

The degree to which we have already absorbed the cost of D-SIB compliance is reflected in the ~ 1,000-

basis point increase in our efficiency ratio since the enactment of Dodd-Frank.

The Astoria merger provides the additional scale to absorb the remaining D-SIB compliance costs.

Key infrastructure investments to date include:

—

Enhanced ERM and corporate governance frameworks

—

Bottom-up capital planning and stress testing

capabilities

—

Substantial expansion of regulatory compliance staff

Remaining costs of D-SIB compliance include LCR, CCAR

reporting, and Living Will

We expect to cross the D-SIB threshold organically in 2Q 2016.

Preparing for D-SIB Status

NYCB Efficiency Ratio

Prior to and Since Dodd-Frank

D-SIB Compliance

New York Community Bancorp, Inc.

20

14 %

13 %

26 %

4 %

19 %

29 %

52 %

32 %

23 %

29 %

32 %

27 %

35 %

31 %

21 %

32 %

28 %

27 %

25 %

29 %

21 %

36 %

24 %

21 %

5 %

32 %

18 %

13 %

23 %

35 %

38 %

35 %

41 %

34 %

39 %

50 %

40 %

50 %

51 %

55 %

59 %

71 %

57 %

78 %

86 %

14 %

18 %

26 %

36 %

37 %

42 %

55 %

58 %

67 %

67 %

68 %

69 %

70 %

71 %

72 %

78 %

78 %

80 %

88 %

92 %

93 %

102 %

107 %

ZION

BAC

MTB

C

MS

JPM

NYCB

PF 2017

BBT

CFG

STI

HBAN

CMA

WFC

USB

COF

FITB

PNC

KEY

STT

RF

DFS

NTRS

BK

AXP

As we continue to grow, we would expect our total payout ratio to be

more consistent with the total payout ratio for our D-SIB peers.

Dividends

Approved in 2015

Share

Repurchases Approved in 2015

New York Community Bancorp, Inc.

21

* The

Astoria merger was announced in October 2015.  All other mergers on this page were completed in the months and years indicated.

The number of branches indicated for our previous transactions is the number of branches in our current franchise that stemmed from each.

1.  Nov. 2000

Haven Bancorp

(HAVN)

Assets:

$2.7 billion

Deposits:

$2.1 billion

Branches: 37

2.  July 2001

Richmond County

Financial Corp.

(RCBK)

Assets:

$3.7 billion

Deposits:

$2.5 billion

Branches: 24

3.  Oct. 2003

Roslyn Bancorp,

Inc. (RSLN)

Assets:

$10.4 billion

Deposits:

$5.9 billion

Branches: 38

4.  Dec. 2005

Long Island

Financial Corp.

(LICB)

Assets:

$562 million

Deposits:

$434 million

Branches: 9

5.  April 2006

Atlantic Bank of

New York (ABNY)

Assets:

$2.8 billion

Deposits:

$1.8 billion

Branches:

14

6.  April 2007

PennFed Financial

Services, Inc.

(PFSB)

Assets:

$2.3 billion

Deposits:

$1.6 billion

Branches:

22

7.  July 2007

NYC branch

network of Doral

Bank, FSB (Doral-

NYC)

Assets:

$485 million

Deposits:

$370 million

Branches: 11

8.  Oct. 2007

Synergy Financial

Group, Inc. (SYNF)

Assets:

$892 million

Deposits:

$564 million

Branches:

16

9.  Dec. 2009

AmTrust Bank

Assets:

$11.0 billion

Deposits:

$8.2 billion

Branches: 64

10.  March 2010

Desert Hills Bank

Assets:

$452 million

Deposits:

$375 million

Branches: 3

11.  June 2012

Aurora Bank FSB

Assets:

None

Deposits:

$2.2 billion

Branches: 0

Payment

Received:

$24.0 million

12. October 2015*

Astoria Financial

Corporation (AF)

Assets:

$15.1 billion

Deposits:

$9.0 billion

Branches:  87

Transaction Type: 

Savings Bank

Commercial Bank

Branch

FDIC

Deposit

The Astoria merger leverages our expertise in executing accretive

transactions and managing post-merger integrations.

New York Community Bancorp, Inc.

22

(in millions)

DEPOSITS

w/ HAVN

w/ RCBK

w/ RSLN

w/ LICB

w/ ABNY

w/

PFSB,

Doral, &

SYNF

w/

AmTrust

w/

Desert

Hills

w/ Astoria

Total Deposits:

$3,268

$5,472

$10,360

$12,168

$12,764

$13,311

$22,418

$21,890

$24,878

$28,329

$28,280

$37,329

Total Branches:

86

120

139

152

166

217

276

276

275

272

269

356

CDs

NOW,

MMAs, and Savings

Demand deposits

The Astoria merger, like every other, will enhance our liquidity,

reduce our funding costs, and boost our deposit market share.

w/ Aurora

$1,874

$2,408

$4,362

$5,247

$5,945

$6,913

$9,054

$7,835

$9,121

$6,421

$5,518

$7,618

$1,223

$2,609

$5,278

$6,015

$5,554

$4,975

$11,494

$12,122

$12,998

$19,601

$20,209

$26,590

$171

$455

$720

$906

$1,265

$1,423

$1,870

$1,933

$2,759

$2,307

$2,553

$3,121

12/31/00

12/31/01

12/31/03

12/31/05

12/31/06

12/31/07

12/31/09

12/31/10

12/31/12

12/31/14

9/30/15

9/30/15

Pro Forma

New York Community Bancorp, Inc.

23

After

HAVN

After

RCBK

After

RSLN

After

LICB

After

ABNY

After

PFSB,

Doral, &

SYNF

After

AmTrust

After

Desert

Hills

HFI Loans Outstanding:

$3,636

$5,405

$10,499

$17,029

$19,653

$20,363

$23,377

$23,707

$27,285

$33,025

$34,146

$45,400

HFI Originations:

$616

$1,150

$4,330

$6,332

$4,971

$4,853

$4,280

$15,193

$19,894

$14,204

$12,800

$13,304

After

Aurora

(in millions)

The Astoria merger, like every other, will provide funding for

the growth of our high-yielding loan portfolio.

After

Astoria

Multi-family

CRE

All other HFI loans

$1,946

$3,255

$7,368

$12,854

$14,529

$14,055

$16,736

$16,802

$18,605

$23,849

$24,653

$28,562

$324

$566

$1,445

$2,888

$3,114

$3,826

$4,987

$5,438

$7,437

$7,637

$7,646

$8,471

$1,366

$1,584

$1,686

$1,287

$2,010

$2,482

$1,654

$1,467

$1,243

$1,539

$1,847

$8,367

12/31/00

12/31/01

12/31/03

12/31/05

12/31/06

12/31/07

12/31/09

12/31/10

12/31/12

12/31/14

9/30/15

9/30/15

Pro Forma

HELD-FOR-INVESTMENT LOAN PORTFOLIO

Multi-Family

Loan Production

New York Community Bancorp, Inc.

$17,433

$18,605

$20,714

$23,849

$24,653

$28,562

12/31/11

12/31/12

12/31/13

12/31/14

9/30/15

9/30/15

Pro

Forma

NYCB

PORTFOLIO STATISTICS

AT

OR

FOR

THE

9

MOS.

ENDED

9/30/15

% of non-covered loans held for

investment = 72.2%

Average principal balance = $5.1 million

Weighted average life = 2.7 years

% of our multi-family loans located in

Metro New York = 82.2%

% of HFI

loan originations = 71.9%

MULTI-FAMILY

LOAN PORTFOLIO

(in millions)

The Astoria merger will increase our share of NYC’s highly

attractive multi-family lending niche.

Originations:

$5,761

$5,791

$7,417

$7,584

$6,436

$6,940

(b)

(a)

Includes Astoria’s balance of multi-family loans at 9/30/15.

(b)

Includes Astoria’s multi-family loan originations in the nine months ended 9/30/15.

(a)

25

Asset

Quality

New York Community Bancorp, Inc.

27

S & L Crisis

NET CHARGE-OFFS / AVERAGE LOANS

5-Year Total

NYCB:  17 bp

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

4-Year Total

NYCB: 37 bp

SNL U.S. Bank and Thrift Index: 803 bp

SNL U.S. Bank and Thrift Index

NYCB

Great Recession

Current Credit Cycle

4.75-Year Total

NYCB: 50 bp

SNL U.S. Bank and Thrift Index: 473 bp

We have been distinguished by our low level of net charge-

offs in downward credit cycles.

* Annualized

(0.04)%

0.68%

1.63%

2.83%

2.89%

0.00%

0.03%

0.13%

0.21%

2007

2008

2009

2010

0.54%

1.28%

1.50%

1.17%

0.91%

0.00%

0.00%

0.04%

0.07%

0.06%

1989

1990

1991

1992

1993

1.77%

1.24%

0.76%

0.53%

0.43%

0.35%

0.13%

0.05%

0.01%

2011

2012

2013

2014

9M 2015*

New York Community Bancorp, Inc.

28

2.91%

4.00%

4.05%

3.41%

2.35%

1.46%

2.48%

2.10%

2.83%

1.51%

12/31/89

12/31/90

12/31/91

12/31/92

12/31/93

S & L Crisis

Great Recession

Current Credit Cycle

NON-PERFORMING LOANS

(a)(b)

/ TOTAL LOANS

(a)

(a)

Non-performing loans and total loans exclude covered loans and non-covered purchased credit-impaired loans.

(b)

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

1.11%

2.71%

4.17%

3.56%

0.11%

0.51%

2.47%

2.63%

12/31/07

12/31/08

12/31/09

12/31/10

2.60%

2.22%

1.66%

1.26%

1.05%

1.28%

0.96%

0.35%

0.23%

0.16%

12/31/11

12/31/12

12/31/13

12/31/14

9/30/15

Average NPLs/Total Loans

NYCB: 2.08%

SNL U.S. Bank and Thrift Index: 3.34%

Average NPLs/Total Loans

NYCB: 1.43%

SNL U.S. Bank and Thrift Index: 2.89%

SNL U.S. Bank and Thrift Index

NYCB

Average NPLs/Total Loans

NYCB: 0.60%

SNL U.S. Bank and Thrift Index: 1.76%

The quality of our loan portfolio continues to exceed that of

our industry.

New York Community Bancorp, Inc.

29

Conservative

Underwriting

Active Board

Involvement

Multiple

Appraisals

Risk-Averse Mix of

Non-Covered Loans

Held for Investment

(at 9/30/15)

•

Conservative loan-to-

value ratios

•

Conservative debt

coverage ratios: 120%

for multi-family loans,

and 130% for CRE loans

•

Multi-family and CRE

loans are based on the

lower of economic or

market value.

•

All loans originated for

portfolio are reviewed

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

$7.5 million, and CRE

and ADC loans in excess

of $4.0 million.

•

All properties are

appraised by

independent appraisers.

•

All independent

appraisals are reviewed

by in-house appraisal

officers.

•

A second independent

appraisal review is

performed on loans that

are large and complex.

•

Multi-family:  72.2%

•

CRE:  22.4 %

•

One-to-Four Family:  0.3%

•

ADC:  0.9%

•

Commercial and

Industrial:  4.1%

The quality of our assets reflects the nature of our lending

niche and our strong underwriting standards.

Residential

Mortgage Banking

New York Community Bancorp, Inc.

31

Features

Loans can be originated/purchased in all 50 states and the District of Columbia.

Our 950 approved clients include community banks, credit unions, mortgage

companies, and mortgage brokers.

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

Credit Quality

As of September

30, 2015, 99.8% of all funded loans were current.

Limited

Repurchase Risk

Of the seven loans that were repurchased in the first nine months of 2015, five were

subsequently resolved, and two were placed back into portfolio.

Benefits

Since January 2010, our mortgage banking business has originated 1-4 family loans

of $41.9 billion and generated mortgage banking income of $626.3 million.

Our proprietary mortgage banking platform has enabled us to expand our revenues,

market share, and product line.

Over time, mortgage banking income has supported the stability of our return on

average tangible assets, even in times of interest rate volatility.

Our revenue mix has been enhanced since the establishment of

our mortgage banking operation in January 2010.

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

banking technology platform, which securely controls the lending process while

mitigating business and regulatory risks.

New York Community Bancorp, Inc.

32

$52.6

$32.6

$26.1

$23.2

$16.2

$12.8

$14.6

$15.3

$16.6

$16.4

$18.4

$16.0

$7.5

$31.5

$39.3

$19.9

$44.4

$39.6

$33.0

$20.4

$19.3

$25.4

$21.8

$30.1

$26.7

$23.1

$84.1

$71.9

$46.0

$67.6

$55.8

$45.8

$35.0

$34.6

$42.0

$38.2

$48.5

$42.7

$30.6

1.64%

1.71%

1.95%

1.99%

2.71%

2.74%

2.77%

2.62%

2.50%

2.28%

1.97%

2.16%

2.22%

Average 10-Year

Treasury Rate

Return on Average

Tangible Assets 

(a)

Total:

1.29%

1.24%

1.19%

1.21%

1.11%

1.12%

1.05%

1.06%

1.06%

1.14%

1.04%

1.09%

0.99%

Prepayment Penalty Income

on Loans

Mortgage Banking Income

3Q 2012

4Q 2012

1Q 2013

2Q 2013

3Q 2013

4Q 2013

1Q 2014

2Q 2014

3Q 2014

4Q 2014

1Q 2015

2Q 2015

3Q 2015

(a)

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

(dollars in millions)

Prepayment penalty income and mortgage banking income have

contributed to the stability of our ROTA.

Efficiency

New York Community Bancorp, Inc.

34

SNL U.S. Bank and Thrift Index

NYCB

Astoria

The Astoria merger will maintain our record of superior

efficiency.

67.12%

66.59%

65.93%

65.41%

65.38%

40.03%

40.75%

42.71%

43.16%

44.78%

2011

2012

2013

2014

9M 2015

9M 2015

EFFICIENCY RATIO

Benefits

of

the

Astoria

Merger

In-market nature of the merger underscores

the potential for significant cost savings

Estimated cost saves = ~

50% of Astoria’s

non-interest expense

Opportunity to leverage our mortgage platform

and

Astoria’s retail origination model

Provides immediate scale to absorb higher D-

SIB compliance-related

costs

Expanded customer base represents

an

opportunity for revenue growth (e.g., through

sales of third-party investment products and

other financial services)

72.31%

Total Return

on Investment

New York Community Bancorp, Inc.

36

(a)

Bloomberg

TOTAL RETURN ON INVESTMENT

SNL

U.S. Bank and Thrift Index

NYCB

(a)

Our commitment to building value for our investors is reflected

in our total returns over the course of our public life.

5,111%

244%

213%

209%

245%

168%

260%

393%

450%

428%

717%

2,059%

2,754%

3,843%

2,670%

3,069%

4,265%

4,319%

11/23/93

12/31/99

12/31/08

12/31/09

12/31/10

12/31/11

12/31/12

12/31/13

12/31/14

9/30/15

CAGR since IPO:

27.0%

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.

Appendix

New York Community Bancorp, Inc.

38

NYCB

Features

Astoria Financial

1859

Established

1888

1993

Year Converted

1993

Westbury, NY

Headquarters

Lake Success, NY

Largest US Thrift

Rank by Assets

4th Largest US Thrift

NYSE

Exchange

NYSE

444,319,494

Shares Outstanding at 9/30/15

100,786,186

$8.41 Billion

Market Cap at 10/28/15

$1.77 Billion

Nassau, Suffolk, Queens, Brooklyn,

Manhattan, Westchester, Staten

Island,

The Bronx

Metro NY Markets

Nassau, Suffolk, Queens, Brooklyn,

Manhattan, Westchester

154

(a)

Number of Branches in

Metro NY

87

(a)

269

(a)(b)

Total Number of Branches

87

(a)

3,468 FTE

Number of

Employees

1,555 FTE

(a)

At 9/30/15

(b)

Includes 46 branches in NJ, 28 in OH, 27 in FL, and 14 in AZ.

NYCB and Astoria Financial at a Glance

New York Community Bancorp, Inc.

39

NYCB and Astoria Financial:  Earnings Summary

For the 3 months ended 9/30/15

For the 9 months ended 9/30/15

(in thousands,

except share data)

NYCB

Astoria Financial

NYCB

Astoria Financial

Net interest income

$279,412

$84,734

$857,277

$255,605

(Recovery

of) provision for

losses on non-covered loans

(512)

4,439

(3,254)

7,749

Non-interest income

37,587

12,852

151,722

41,127

Non-interest expense

147,308

72,589

456,074

214,577

Income tax expense

64,031

10,530

203,961

20,260

Net income

114,688

18,906

357,651

69,644

Earnings per share

0.26

0.17

0.80

0.63

Dividend per share

0.25

0.04

0.75

0.12

New York Community Bancorp, Inc.

40

At or for the 3 months ended

9/30/15

At or for the 9 months ended

9/30/15

NYCB

Astoria Financial

NYCB

Astoria Financial

ROATE

13.66 %

5.06 %

14.25 %

6.48%

ROATA

0.99

0.50

1.04

0.61

Margin

2.56

2.37

2.63

2.35

Efficiency Ratio

46.07

74.38

44.78

72.31

NPAs/Total Assets

0.17

1.00

0.17

1.00

NPLs/Total Loans

0.16

1.17

0.16

1.17

Net

(Recoveries) Provisions/

Average Loans

(0.01)

(0.02)*

(0.02)

0.00*

Equity/Total

Assets

11.88

10.91

11.88

10.91

Tangible Equity/Tangible Assets

7.27

9.80

7.27

9.80

Common Equity Tier 1 Ratio

10.68

19.00

10.68

19.00

Leverage Capital Ratio

7.61

11.00

7.61

11.00

NYCB and Astoria Financial:  Profitability, Asset Quality, and

Capital Measures

* Annualized

New York Community Bancorp, Inc.

41

For the Three Months Ended

(dollars in thousands)

September 30,

2015

June 30,

2015

March

31,

2015

December 31,

2014

September 30,

2014

June 30,

2014

March 31,

2014

December

31,

2013

September 30,

2013

June 30,

2013

March 31,

2013

December

31,

2012

September 30,

2012

Average Assets

$48,970,353

$48,329,195

$48,769,552

$48,870,512

$48,484,853

$47,897,289

$46,872,770

$46,107,450

$44,343,284

$43,860,167

$43,243,259

$43,087,846

$43,205,076

Less: Average goodwill and core deposit intangibles

(2,440,708)

(2,442,007)

(2,443,528)

(2,445,262)

(2,447,277)

(2,449,260)

(2,451,571)

(2,454,191)

(2,458,145)

(2,462,265)

(2,466,622)

(2,471,204)

(2,476,056)

Average tangible assets

$46,529,645

$45,887,188

$46,326,024

$46,425,250

$46,037,576

$45,448,029

$44,421,199

$43,653,259

$41,885,139

$41,397,902

$40,776,637

$40,616,642

$40,729,020

Net Income

$114,688

$123,704

$119,259

$131,197

$120,258

$118,688

$115,254

$120,155

$114,200

$122,517

$118,675

$122,843

$128,798

Add back:

Amortization of core deposit intangibles,

net of tax

768

807

950

1,124

1,211

1,249

1,394

1,839

2,470

2,509

2,653

2,826

2,913

Adjusted net income

$115,456

$124,511

$120,209

$132,321

$121,469

$119,937

$116,648

$121,994

$116,670

$125,026

$121,328

$125,669

$131,711

Return on average assets

0.94%

1.02%

0.98%

1.07%

0.99%

0.99%

0.98%

1.04%

1.03%

1.12%

1.10%

1.14%

1.19%

Return on average tangible assets

0.99

1.09

1.04

1.14

1.06

1.06

1.05

1.12

1.11

1.21

1.19

1.24

1.29

Average tangible assets is a non-GAAP financial measure. The following table presents a reconciliation of this non-GAAP measure with the related

GAAP measure for the three months ended September 30, June 30, and March 31, 2015; December 31, September 30, June 30, and March 31, 2014;

December 31, September 30, June 30, and March 31, 2013; and December 31, and September 30, 2012.

Reconciliations of GAAP and Non-GAAP Financial Measures

New York Community Bancorp, Inc.

42

11/10/15

Visit our website: 

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

For More Information