Flagstar Financial (FLG) 8-K Regulation FD Disclosure

Third Quarter 2016

Investor Presentation

Exhibit 99.1

New York Community Bancorp, Inc.

2

Cautionary Statements

This presentation may include forward-looking statements by the Company and our authorized officers pertaining to such matters as our goals,

intentions, and expectations regarding revenues, earnings, loan production, asset quality, capital levels, and acquisitions, among other matters,

including the proposed merger with Astoria Financial Corporation (“Astoria Financial” or “Astoria”); our estimates of future costs and benefits of the

actions we may take;

our assessments of probable losses on loans; our assessments of interest rate and other market risks; and our ability to

achieve our financial and other strategic goals.

Forward-looking statements are typically identified by such words as “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,”

forward-looking statements speak only as of the date they are made; the Company does not assume any duty, and does not undertake, to update our

forward-looking statements. Furthermore, because forward-looking statements are subject to assumptions and uncertainties, actual results or future

and

other

similar

words

and

expressions,

and

are

subject

to

numerous

assumptions,

risks,

and

uncertainties,

which

change

over

time.

Additionally,

events could differ, possibly materially, from those anticipated in our statements, and our future performance could differ materially from our historical

results.

shareholder and regulatory approvals of any acquisitions we may propose, including regulatory approval of the proposed Astoria Financial merger;

our ability to successfully integrate any assets, liabilities, customers, systems, and management personnel we may acquire into our operations, and

our ability to realize related revenue synergies and cost savings within expected time frames; changes in legislation, regulations, and policies; and a

variety of other matters which, by their nature, are subject to significant uncertainties and/or are beyond our control.

Our forward-looking statements are subject to the following principal risks and uncertainties: general economic conditions and trends, either nationally

or locally; conditions in the securities markets; changes in interest rates; changes in deposit flows, and in the demand for deposit, loan, and

investment

products

and

other

financial

services;

changes

in

real

estate

values;

changes

in

the

quality

or

composition

of

our

loan

or

investment

portfolios; changes in competitive pressures among financial institutions or from non-financial institutions; our ability to obtain the necessary

other

risks

and

uncertainties,

including

those

we

may

discuss

in

this

presentation,

or

in

our

SEC

filings,

which

are

accessible

on

our

website

and

at

the

SEC’s website, www.sec.gov.

More information regarding some of these factors is provided in the Risk Factors section of our Form 10-K for the year ended December 31, 2015, our

Form 10-Q for the three months ended September 30, 2016, and in other SEC reports we file. Our forward-looking statements may also be subject to

Our

Supplemental

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

companies’ performance and financial condition, and in comparing their performance and financial condition with those of other banks.  Such non-GAAP

financial

measures

are

supplemental

to,

and

are

not

to

be

considered

in

isolation

or

as

a

substitute

for,

measures

calculated

in

accordance

with

GAAP.

Forward-Looking

Information

New York Community Bancorp, Inc.

3

At 9/30/16

Pro Forma with Astoria

Assets

With assets of $49.5 billion, we are the 22nd

largest U.S. bank holding company.

With

pro

forma

assets

of

$63.7

billion

(b)

,

we

expect

to rank

21st

among U.S. bank holding companies.

Multi-Family

Loan Portfolio

With a portfolio of $27.1 billion, we are a leading

producer

of

multi-family

loans

in

New

York

City.

With

a

pro

forma

portfolio

of

$31.2

billion

(b)

,

we

expect to augment our position as a leading multi-

family

lender

in

New

York

City.

Deposits

With deposits of $29.1 billion and 255 branches,

we currently rank 26th among the nation’s largest

depositories.

With

pro

forma

deposits

of

$38.1

billion

(b)

and

343

branches, we expect to rank 23rd among the

nation’s largest depositories.

Deposit

Market Share

With deposits of

$23.1 billion

(c)

in the NY MSA,

our

rank

among

regional

banks

is

currently

#3

for

deposit market share.

With

pro forma deposits of

$32.2 billion

(c)

in the NY

MSA, we expect our rank among regional banks to

rise to #2.

Market Cap

With

a

market

cap

of

$6.9

billion

at

9/30/16,

we

rank 21st among the nation’s publicly traded

banks and thrifts.

With

a

pro

forma

market

cap

of

$8.4

billion

(d)

,

we

expect to rank 20th

among the nation’s publicly

traded banks and thrifts.

Note:  Except as otherwise indicated, all information regarding Astoria in this presentation was provided by Astoria;

all industry data was provided by SNL Financial

as of 11/10/16.

Currently pending regulatory approval, the Astoria merger is

expected

to

result

in

significant

asset,

loan,

and

deposit

growth.

(a)

(a)

On November 9, 2016, we announced that, based on discussions with our regulators, we do not expect to receive the regulatory approvals required to

consummate the proposed merger with Astoria by the end of 2016.  Under the terms of the merger agreement with Astoria, either

the Company or Astoria may

terminate the agreement, without penalty, if the merger has not occurred by December 31, 2016.  Both we and Astoria remain committed to the transaction,

but any extension of such date or other modification under the merger agreement is subject to the discretionary approval of the Boards of Directors of both

companies, and there can be no assurance that both Boards will agree to any such extension or other modification.

(b)

Pro forma assets, deposits, and multi-family loans are based on our balances and Astoria’s at 9/30/16 and include purchase accounting adjustments.

(c)

Data from SNL Financial is as of 6/30/16.

(d)

Our pro forma market cap was calculated by multiplying our closing price at 9/30/16 by the sum of our outstanding shares and Astoria’s at that date.

The Core Components

of our Business Model

Multi-Family

Loan Production

New York Community Bancorp, Inc.

6

$18,605

$20,714

$23,849

$25,989

$27,083

$4,093

12/31/12

12/31/13

12/31/14

12/31/15

9/30/16

9/30/16

NYCB

Portfolio Statistics

at

or

for

the

9

Mos.

Ended

9/30/16

% of non-covered loans held for

investment = 72.5%

Average principal balance = $5.4 million

Weighted average life = 2.9 years

% of our multi-family loans located in

Metro New York = 78.6%

% of HFI

loan originations = 63.3%

Multi-Family

Loan Portfolio

(in millions)

The vast majority of our multi-family loans are collateralized

by non-luxury buildings in NYC with rent-regulated units.

Originations:

$5,791

$7,417

$7,584

$9,214

$4,530

$572

NYCB

Astoria

New York Community Bancorp, Inc.

7

Of the loans in our portfolio that are collateralized by multi-family

buildings in the five boroughs of New York City, 88% are collateralized by

buildings with rent-regulated units featuring below-market rents.

Rent-regulated

buildings

are

more

likely

to

retain

their

tenants

–

and,

therefore,

their revenue stream –

in downward credit cycles.

Together with our conservative underwriting standards, our focus on

multi-family lending in

this niche market has resulted in our record of

superior asset quality.

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

of loans, and

therefore contribute to our superior efficiency.

Our focus on this particular multi-family lending niche has

enabled us to distinguish ourselves from our industry peers.

Asset

Quality

New York Community Bancorp, Inc.

9

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 (“PCI”) 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%

1.07%

0.98%

1.28%

0.96%

0.35%

0.23%

0.13%

0.12%

12/31/11

12/31/12

12/31/13

12/31/14

12/31/15

9/30/16

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%

Average NPLs/Total Loans

NYCB: 0.51%

SNL U.S. Bank and Thrift Index: 1.63%

Our record of asset quality in downward credit cycles has

consistently distinguished us from our industry peers.

NYCB

SNL U.S. Bank and Thrift Index

New York Community Bancorp, Inc.

10

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

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

Great Recession

Current Credit Cycle

5.75-Year Total

NYCB: 52 bp

SNL U.S. Bank and Thrift Index: 521 bp

Few of our non-performing loans have resulted in actual

losses.

1.77%

1.24%

0.76%

0.53%

0.46%

0.45%

0.35%

0.13%

0.05%

0.01%

2011

2012

2013

2014

2015

9M 2016

(0.02)%

(0.00)%

* Annualized

*

SNL U.S. Bank and Thrift Index

NYCB

New York Community Bancorp, Inc.

11

Conservative

Underwriting

Conservative loan-to-value ratios

Conservative debt service 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.

Active Board

Involvement

All loans originated for portfolio are presented to the Mortgage or Credit Committee of the

Community Bank Board or Commercial Bank Board.

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 loans of $20 million or more originated by the Community Bank and all loans of $10

million or more

originated by the Commercial Bank are reported to the Board.

Multiple

Appraisals

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.

Risk-Averse Mix of

Non-Covered Loans

Held for Investment

(at

9/30/16)

Multi-family:  72.5%

CRE:  20.8%

One-to-Four Family:  0.9%

ADC:  1.0%

Commercial & Industrial:  4.8%

The quality of our assets reflects the nature of our lending

niche and our strong underwriting standards.

Efficiency

New York Community Bancorp, Inc.

13

Factors Driving Our

Efficiency

Multi-family and CRE 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.

Franchise expansion has largely stemmed from mergers and

acquisitions; we rarely engage in de novo branch development.

Most of our deposits have been acquired through earnings-accretive

acquisitions.

SNL U.S. Bank and Thrift Index

NYCB

Astoria

We are a highly efficient institution.

66.59%

65.93%

65.41%

62.01%

64.18%

40.75%

42.71%

43.16%

43.81%

43.72%

2012

2013

2014

2015

9M 2016

9M 2016

Efficiency Ratio

Anticipated 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

SIFI

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)

72.81%

(a)

Excludes the impact of the $773.8 million debt repositioning charge recorded in net interest income and state and local non-income taxes of $5.4 million

resulting from the debt repositioning charge that were recorded in operating expenses. Including these items, our efficiency ratio was 99.48% in 2015. Please

see the reconciliation of our efficiency ratio and adjusted efficiency ratio on page 34.

(a)

Residential

Mortgage Banking

New York Community Bancorp, Inc.

15

Features

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

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.

We

have approximately

900 approved clients, including 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,

2016,

99.8%

of

all

funded

loans

were

current.

Limited

Repurchase Risk

Of the $45.7 billion of 1-4 family loans sold to GSEs since 2010--when we launched

our

mortgage

banking

business--only

28

loans

totaling

$7.9

million

(0.017%)

have

been repurchased.

Benefits

Since January 2010, our mortgage banking business has generated mortgage

banking income of $662.6 million.

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

market share, and product line.

At

September

30,

2016,

the

portfolio

of

1-4

family

loans

serviced

for

GSEs

totaled

$21.1 billion.

Our mortgage banking platform has been a source of

revenues since 2010.

Growth Through

Acquisitions

New York Community Bancorp, Inc.

17

Significantly Increases

our Earnings

~ 20% pro forma earnings accretion

(a)

~ 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

Significantly Strengthens

our Balance Sheet

De-risking strategies greatly enhance our

balance sheet profile

~ 6% tangible book value per share (TBVPS)

accretion at the close

(a)

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

(a)

Including the strategic debt repositioning and capital raise completed in 4Q 2015.

The Astoria merger is expected to build our earnings, our

capital, and our shareholder returns.

New York Community Bancorp, Inc.

18

(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

$28,427

$29,140

$38,100

Total Branches:

86

120

139

152

166

217

276

276

275

258

255

343

CDs

NOW,

MMAs, and Savings

Demand deposits

Like our earlier transactions, the Astoria merger is expected to enhance our

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

w/ Aurora

(a)

Pro forma deposits are based on our balances and Astoria’s at 9/30/16 and include purchase accounting adjustments.

(a)

$1,874

$2,408

$4,362

$5,247

$5,945

$6,913

$9,054

$7,835

$9,121

$5,312

$7,384

$9,066

$1,223

$2,609

$5,278

$6,015

$5,554

$4,975

$11,494

$12,122

$12,998

$20,611

$18,827

$25,045

$171

$455

$720

$906

$1,265

$1,423

$1,870

$1,933

$2,759

$2,504

$2,929

$3,989

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

12/31/15

9/30/16

9/30/16

Pro Forma

New York Community Bancorp, Inc.

19

Note: Data from SNL Financial is as of 6/30/16.

Long Island

Brooklyn

Queens

Westchester

53%

87%

92%

Within 1 Mile

Within 3 Miles

Within 5 Miles

Astoria

NYCB

% of Astoria branches near an NYCB branch

The Astoria merger is expected to boost our market share in

Nassau and Suffolk Counties, Queens, and Brooklyn.

New York Community Bancorp, Inc.

20

Boosts our deposit market share in Metro

New York from 7% to 9%

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

The Astoria merger is expected to increase our rank among

regional banks in the NY MSA from #3 to #2.

Note:  Data from SNL Financial is as of 6/30/16.

(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.

A Stronger Deposit Franchise

2016 Rank

Top Regional Banks

in the NY MSA

(a)

Deposits ($mm)

1

Capital One

$51,919

2

NYCB Pro Forma

32,239

2

Signature

29,539

3

NYCB

23,092

4

M&T Bank

22,164

5

PNC

21,945

6

Valley National

13,775

7

Investors

12,839

8

Apple Financial

11,716

9

First Republic

10,487

10

Sterling

9,748

11

Astoria Financial

9,147

New York Community Bancorp, Inc.

21

The Astoria merger is expected to enhance our asset and

funding mix.

NYCB

Astoria

Pro Forma

(a)

Total HFI Loans: $39.1 bn

Yield on Loans: 3.77%

Multi-family

69%

CRE

20%

ADC

1%

C&I

4%

1-4 Family

(Non-covered)

1%

Covered

Loans

5%

Other

0%

Multi-family

38%

CRE

7%

C&I

1%

1-4 Family

(Non-covered)

52%

Other

2%

Multi-family

63%

CRE

17%

ADC

1%

C&I

4%

1-4 Family

(Non-covered)

12%

Covered

Loans

3%

Other

0%

NYCB

NOW and

MMA

46%

Savings

19%

CDs

25%

N-I-B

10%

Astoria

NOW and

MMA

46%

Savings

23%

CDs

19%

N-I-B

12%

Pro Forma

(a)

NOW and

MMA

46%

Savings

20%

CDs

24%

N-I-B

10%

Total Deposits: $29.1 bn

Cost of I-B Deposits: 0.64%

Total HFI Loans: $10.6 bn

Yield on Loans: 3.49%

Total HFI Loans: $49.7 bn

Yield on Loans: 3.71%

Total Deposits: $8.9 bn

Cost of I-B Deposits: 0.30%

Total Deposits: $38.1 bn

Cost of I-B Deposits: 0.55%

(a)

Pro forma deposit and loan data is based on our balances and Astoria’s at 9/30/16 and includes purchase accounting adjustments.

New York Community Bancorp, Inc.

22

$1,946

$3,255

$7,368

$12,854

$14,529

$14,055

$16,736

$16,802

$18,605

$25,989

$27,083

$31,152

$324

$566

$1,445

$2,888

$3,114

$3,826

$4,987

$5,438

$7,437

$7,860

$7,767

$8,505

$1,366

$1,584

$1,686

$1,287

$2,010

$2,482

$1,654

$1,467

$1,243

$1,914

$2,511

$8,239

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

12/31/15

9/30/16

9/30/16

Pro Forma

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

$35,763

$37,361

$47,896

HFI Originations:

$616

$1,150

$4,330

$6,332

$4,971

$4,853

$3,392

$4,329

$8,969

$12,673

$7,156

$8,301

After

Aurora

Multi-family

CRE

All other HFI loans

(in millions)

Like our earlier transactions, the Astoria merger is expected to

provide funding for the growth of our high-yielding loan portfolio.

After Astoria

(a)

Excludes covered loans and non-covered PCI loans.

(b)

Pro forma loan amounts are based on our balances and Astoria’s at 9/30/16 and include purchase accounting adjustments.

(b)

Loan Portfolio

Held-for-Investment

(a)

New York Community Bancorp, Inc.

23

* 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 earlier transactions is the number of branches in our current franchise that stemmed

from each.

Transaction Type: 

Savings Bank

Commercial Bank

Branch

FDIC

Deposit

The Astoria merger is expected to leverage our expertise in

managing post-merger integrations.

1.  Nov. 2000

Haven Bancorp

(HAVN)

Assets:

$2.7 billion

Deposits:

$2.1 billion

Branches: 25

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:

21

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. Oct. 2015*

Astoria Financial

Corporation (AF)

Assets:

$15.0 billion

Deposits:

$9.1 billion

Branches:  88

New York Community Bancorp, Inc.

24

36%

44%

2010

3Q 2016

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

preparedness.

The degree to which we have already leveraged the cost of SIFI compliance is reflected in the ~ 800-basis

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

The merger will provide the additional scale to leverage the remaining SIFI compliance costs.

We expect the merger to bring us well beyond the current

SIFI threshold.

Preparing for SIFI Status

NYCB Efficiency Ratio

Prior to and Since Dodd-Frank

SIFI Compliance

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 SIFI compliance include LCR,

CCAR reporting, and Living Will

New York Community Bancorp, Inc.

25

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 SIFI peers.

Dividends

Approved in 2015

Share

Repurchases Approved in 2015

3Q 2016

Performance Highlights

New York Community Bancorp, Inc.

27

(dollars in thousands, except per share data)

(a)

ROTA and ROTE are non-GAAP financial measures. Please see page 35 for additional information.

Our 3Q 2016 performance reflected the benefit of the

strategic debt repositioning we completed in 4Q 2015.

3Q 2016

3Q 2015

Strong Profitability Measures:

Earnings

$125,299

$114,688

EPS

$0.26

$0.26

Return on average assets

1.02%

0.94%

Return on average stockholders’ equity

8.24

7.88

Return

on

average

tangible

assets

(a)

1.08

0.99

Return

on

average

tangible

stockholders’

equity

(a)

13.79

13.66

Net interest margin

2.91

2.56

Efficiency ratio

44.27

46.07

New York Community Bancorp, Inc.

28

From 9/30/14 to 9/30/16, we managed our assets below the current SIFI threshold

while maintaining our high-volume production of multi-family and CRE loans.

Strategic Asset

Management

Total Assets

9/30/14

$48.7 Billion

•

Reduced securities by $3.7 billion through a combination of repayments,

sales, and calls

•

Sold loans of $3.9 billion:

$2.4 billion of multi-family loans (largely through participations)

$918.5

million

of

CRE

loans

(largely

through

participations)

$631.3 million of 1–4 family loans

•

Other balance sheet reductions included loan satisfactions and

refinancings

of $10.4 billion

Total Assets

9/30/16

$49.5 Billion

•

Originated $15.6 billion of multi-family loans

•

Originated

$3.2 billion of CRE loans

Result:

A

$782.8

million

increase

in

total

assets

from

9/30/14

–

9/30/16.

New York Community Bancorp, Inc.

29

(a)

Non-performing loans and total loans exclude covered loans and non-covered PCI loans.

(b)

Non-performing assets and total assets exclude covered loans, covered OREO, and non-covered PCI loans.

Our balance sheet measures reflect stability and strength.

Company Capital

9/30/16

Stockholders’ equity / total assets

12.31%

Common equity tier 1 capital ratio

10.25

Leverage capital ratio

7.95

Bank Capital

9/30/16

The Community Bank:

Common equity tier 1 capital ratio

10.83%

Leverage capital ratio

8.43

The Commercial Bank:

Common equity tier 1 capital ratio

13.31%

Leverage capital ratio

10.26

Balance

Sheet

9/30/16

Loans, net / total assets

80.2%

Securities / total assets

7.7

Deposits / total assets

58.9

Wholesale borrowings / total assets

27.6

Asset Quality

At or

for the Three Months Ended 9/30/16

Non-performing loans

(a)

/ total loans

(a)

0.12%

Non-performing assets

(b)

/ total assets

(b)

0.12

Net charge-offs / average loans (non-

annualized)

0.00

Total Return

on Investment

New York Community Bancorp, Inc.

31

244%

213%

209%

245%

168%

260%

393%

450%

461%

449%

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

12/31/15

9/30/16

CAGR since IPO:

24.7%

(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.

SNL

U.S. Bank and Thrift Index

NYCB

(a)

Our commitment to building value for our investors is reflected

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

4,682%

4,215%

New York Community Bancorp, Inc.

32

11/15/16

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

Reconciliations of GAAP

and Non-GAAP

Financial Measures

New York Community Bancorp, Inc.

34

Our

adjusted

efficiency

ratio

is

calculated

by

dividing

our

adjusted

operating

expenses

by

the

sum

of

our

adjusted

net

interest

income

and

our

non-interest

income

during

the

twelve

months

ended

December

31,

2015.

Our

adjusted

operating

expenses

exclude

the

aforementioned

$5.4

million

of

non-income

taxes

and

our

adjusted

net

interest

income

excludes

the

aforementioned

$773.8

million

debt

repositioning

charge.

While our adjusted efficiency ratio, adjusted operating expenses, and adjusted net interest income are not GAAP measures, we believe it is important to disclose them in this investor presentation for the reasons cited

below:

1.

Given the significant impact of the debt repositioning charge on our 2015 net interest income and operating expenses, a comparison of these line items with those reported in the past and going forward would

not be meaningful;

2.

For

the

same

reason,

a

comparison

of

our

2015

efficiency

ratio

with

those

reported

in

the

past

and

going

forward

would

not

be

useful,

given

the

degree

to

which

it

was

impacted

by

the

debt

repositioning

charge;

3.

The

efficiency

ratio

is

a

measure

utilized

by

both

management

and

investors

to

assess

the

profitability

of

the

company,

both

independent

of,

and

in

comparison

with,

its

peers.

Given

the

significant

impact

of

the

debt

repositioning

charge

on

our

2015

net

interest

income

and,

to

a

lesser

extent,

our

operating

expenses,

providing

the

efficiency

ratio

on

both

a

GAAP

and

non-GAAP

basis

clarifies

that

impact

and

facilitates

an understanding of our 2015 results.

Our

adjusted

efficiency

ratio,

adjusted

operating

expenses,

and

adjusted

net

interest

income

are

supplemental

to,

and

should

not

be

considered

in

isolation

or

as

a

substitute

for

our

efficiency

ratio,

operating

expenses,

net

interest

income,

or

any

other

profitability

measure

that

is

calculated

in

accordance

with

GAAP.

Moreover,

the

manner

in

which

we

calculate

these

non-GAAP

measures

may

differ

from

that

of

other

companies

reporting non-GAAP measures with a similar name.

The following table reconciles our efficiency ratio and adjusted efficiency ratio and the respective GAAP and non-GAAP components for the twelve months ended December 31, 2015:

Reconciliation of our 2015 Efficiency Ratio and Adjusted

Efficiency Ratio and the Related Components

(dollars in thousands)

For the Twelve Months Ended

December 31, 2015

Operating expenses (GAAP)

$   615,600

Adjustment:

State and local non-income taxes resulting from the debt repositioning charge and recorded as G&A expense

(5,440)

Adjusted operating expenses (non-GAAP)

$   610,160

Net interest income (GAAP

)

$   408,075

Non-interest income (GAAP)

210,763

Sum of net interest income

and non-interest income (GAAP)

$   618,838

Adjustment:

Debt repositioning charge recorded in net interest income

$   773,756

Adjusted sum of net interest income and non-interest income (non-GAAP)

$1,392,594

Efficiency ratio

99.48%

Adjusted efficiency ratio

43.81%

The efficiency ratio is a measure of profitability reported by U.S. banks to convey the degree to which the pre-tax revenues they generate during a period are utilized to cover the cost of their compensation and

benefits, occupancy and equipment, and general and administrative (“G&A") expenses (together, their "operating expenses") during that time. 

We calculate our efficiency ratio by dividing our total operating expenses by the sum of our (i) net interest income and (ii) non-interest income (together, our pre-tax revenues). The lower the ratio, the more efficient

the institution; the less a bank spends on its operating expenses, the more of its pre-tax earnings it retains. 

While all three components of our 2015 efficiency ratio are calculated in accordance with U.S. generally accepted accounting principles ("GAAP"), we have supplemented the presentation of our GAAP efficiency ratio

with the presentation of a non-GAAP “adjusted efficiency ratio” to reflect the impact of the $773.8 million strategic debt repositioning charge we recorded in 2015.  As further described below, two of the components

of our adjusted efficiency ratio are not calculated in accordance with GAAP. 

In 2015, we prepaid $10.4 billion of wholesale borrowings with an average cost of 3.16% and replaced them with a like amount of wholesale borrowings with an average cost of 1.58%.  While the benefit of the

strategic debt repositioning is reflected in our earnings for the three and nine months ended September 30, 2016, it adversely impacted our 2015 efficiency ratio in a variety of ways.  First, we recorded a debt

repositioning charge of $773.8 million as interest expense, which resulted in our recording a net interest loss, rather than net interest income, for the year.  Second, we recorded $5.4 million of non-income tax

expenses in our 2015 G&A expense.

New York Community Bancorp, Inc.

35

While average stockholders’ equity, average assets, return on average assets, and return on average stockholders’ equity are financial measures that are recorded in accordance with U.S.

generally accepted accounting principles (“GAAP”), average tangible stockholders’ equity, average tangible assets, return on average tangible assets, and return on average tangible

stockholders’ equity are not.  Nevertheless, it is management’s belief that these non-GAAP measures should be disclosed in our SEC filings, earnings releases, and other investor

communications, for the following reasons:

1.

Average tangible stockholders’ equity and average tangible assets are important indications of the Company’s ability to grow organically and through business combinations, as well

as our ability to pay dividends and to engage in various capital management strategies.

2.

Returns on average tangible assets and average tangible stockholders’ equity are among the profitability measures considered by current and prospective investors, both independent

of, and in comparison with, our peers.

We calculate average tangible stockholders’ equity by subtracting from average stockholders’ equity the sum of our average goodwill and core deposit intangibles (“CDI”), and calculate

average tangible assets by subtracting the same sum from our average assets. 

Average tangible stockholders’ equity, average tangible assets, and the related non-GAAP profitability measures should not be considered in isolation or as a substitute for average

stockholders’

equity,

average

assets,

or

any

other

profitability

or

capital

measure

calculated

in

accordance

with

GAAP.

Moreover,

the

manner

in

which

we

calculate

these

non-

GAAP

measures

may

differ

from

that

of

other companies reporting non-GAAP measures with similar names. 

The

following

table

presents

reconciliations

of

our

average

stockholders’

equity

and

average

tangible

stockholders’

equity,

our

average

assets

and

average

tangible

assets,

and

the

related

GAAP

and

non-GAAP

profitability

measures

for

the

three

months

ended

September

30,

2016

and

2015:

Reconciliations of our GAAP and Non-GAAP Profitability

Measures

(1)

To calculate our returns on average assets and average stockholders’ equity for a period, we divide the net income generated during that period by the average assets and the average stockholders’ equity

recorded during that time.

(2)

To

calculate

our

returns

on

average

tangible

assets

and

average

tangible

stockholders’

equity

for

a

period,

we

adjust

the

net

income

generated

during

that

period

by

adding

back

the

amortization

of

CDI,

net

of

tax,

and then divide that adjusted net income by the average tangible assets and the average tangible stockholders’ equity recorded during that time.

For the Three Months Ended Sept. 30,

(dollars in thousands)

2016

2015

Average stockholders’ equity

$ 6,081,003

$ 5,822,699

Less:  Average goodwill and core deposit intangibles

(2,437,092)

(2,440,708)

Average tangible

stockholders’ equity

$ 3,643,911

$ 3,381,991

Average assets

$49,159,171

$48,970,353

Less:  Average goodwill and core deposit intangibles

(2,437,092)

(2,440,708)

Average tangible assets

$46,722,079

$46,529,645

Net income

(1)

$125,299

$114,688

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

325

768

Adjusted net

income

(2)

$125,624

$115,456

GAAP:

Return on average assets

1.02%

0.94%

Return on average stockholders’ equity

8.24

7.88

Non-GAAP:

Return on average tangible assets

1.08

0.99

Return on average tangible

stockholders’ equity

13.79

13.66