Flagstar Financial (FLG) 8-K/A Consolidated Statements of Condition

Exhibit 99.1

NEW YORK COMMUNITY BANCORP, INC.

CONSOLIDATED STATEMENTS OF CONDITION

										December 31, 2023 compared to
(dollars in millions)	December 31, 2023			September 30, 2023			December 31, 2022			September 30, 2023			December 31, 2022
Assets
Cash and cash equivalents	$	11,493		$	6,929		$	2,032			66	%		466	%
Securities:
Available-for-sale		9,145			8,723			9,060			5	%		1	%
Equity investments with readily determinable fair values, at fair value		14			13			14			8	%		—	%
Total securities		9,159			8,736			9,074			5	%		1	%
Loans held for sale		1,182			1,926			1,115			-39	%		6	%
Loans and leases held for investment:
Multi-family		37,265			37,698			38,130			-1	%		-2	%
Commercial real estate and acquisition, development, and construction		13,382			13,396			10,522			—	%		27	%
One-to-four family first mortgage		6,061			5,882			5,821			3	%		4	%
Commercial and industrial		25,254			24,423			12,276			3	%		106	%
Other loans		2,657			2,596			2,252			2	%		18	%
Total loans and leases held for investment		84,619			83,995			69,001			1	%		23	%
Less: Allowance for credit losses on loans and leases		(992	)		(619	)		(393	)		60	%		152	%
Total loans and leases held for investment, net		83,627			83,376			68,608			—	%		22	%
Federal Home Loan Bank stock and Federal Reserve Bank stock, at cost		1,392			1,110			1,267			25	%		10	%
Premises and equipment, net		652			638			491			2	%		33	%
Core deposit and other intangibles		625			661			287			-5	%		118	%
Goodwill		—			2,426			2,426			-100	%		-100	%
Mortgage servicing rights		1,111			1,135			1,033			-2	%		8	%
Bank-owned life insurance		1,580			1,576			1,561			—	%		1	%
Other assets		3,075			2,717			2,250			13	%		37	%
Total assets	$	113,896		$	111,230		$	90,144			2	%		26	%
Liabilities and Stockholders’ Equity
Deposits:
Interest-bearing checking and money market accounts	$	30,700		$	31,087		$	22,511			-1	%		36	%
Savings accounts		8,773			9,415			11,645			-7	%		-25	%
Certificates of deposit		21,554			17,310			12,510			25	%		72	%
Non-interest-bearing accounts		20,338			24,863			12,055			-18	%		69	%
Total deposits		81,365			82,675			58,721			-2	%		39	%
Borrowed funds:
Wholesale borrowings		20,250			13,570			20,325			49	%		—	%
Junior subordinated debentures		579			578			575			—	%		1	%
Subordinated notes		438			437			432			—	%		1	%
Total borrowed funds		21,267			14,585			21,332			46	%		—	%
Other liabilities		2,897			2,977			1,267			-3	%		129	%
Total liabilities		105,529			100,237			81,320			5	%		30	%
Stockholders’ equity:
Preferred stock		503			503			503			—	%		—	%
Common stock		7			7			7			—	%		—	%
Paid-in capital in excess of par		8,231			8,217			8,130			—	%		1	%
Retained earnings		443			3,278			1,041			-86	%		-57	%
Treasury stock, at cost		(218	)		(217	)		(237	)		—	%		-8	%
Accumulated other comprehensive loss, net of tax:
Net unrealized loss on securities available for sale, net of tax		(581	)		(863	)		(626	)		-33	%		-7	%
Pension and post-retirement obligations, net of tax		(28	)		(42	)		(46	)		-33	%		-39	%
Net unrealized gain on cash flow hedges, net of tax		10			110			52			-91	%		-81	%
Total accumulated other comprehensive loss, net of tax		(599	)		(795	)		(620	)		-25	%		-3	%
Total stockholders’ equity		8,367			10,993			8,824			-24	%		-5	%
Total liabilities and stockholders’ equity	$	113,896		$	111,230		$	90,144			2	%		26	%

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NEW YORK COMMUNITY BANCORP, INC.

CONSOLIDATED STATEMENTS OF (LOSS) INCOME

	For the Three Months Ended							December 31, 2023 compared to
	December 31, 2023			September 30, 2023		December 31, 2022		September 30, 2023			December 31, 2022
(dollars in millions, except per share data)
Interest Income:
Loans and leases	$	1,230		$	1,251	$	589		-2	%		109	%
Securities and money market investments		217			261		92		-17	%		136	%
Total interest income		1,447			1,512		681		-4	%		112	%
Interest Expense:
Interest-bearing checking and money market accounts		286			268		122		7	%		134	%
Savings accounts		47			43		27		9	%		74	%
Certificates of deposit		210			180		51		17	%		312	%
Borrowed funds		164			139		102		18	%		61	%
Total interest expense		707			630		302		12	%		134	%
Net interest income		740			882		379		-16	%		95	%
Provision for credit losses		552			62		124		790	%		345	%
Net interest income after provision for credit losses		188			820		255		-77	%		-26	%
Non-Interest Income:
Fee income		39			58		10		-33	%		290	%
Bank-owned life insurance		11			11		8		—	%		38	%
Net losses on securities		—			—		—		NM			NM
Net return on mortgage servicing rights		33			23		6		43	%		450	%
Net gain on loan sales and securitizations		16			28		5		-43	%		220	%
Net loan administration income		17			19		3		-11	%		467	%
Bargain purchase gain		(11	)		—		159		NM			-107	%
Other income		22			21		7		5	%		214	%
Total non-interest income		127			160		198		-21	%		-36	%
Non-Interest Expense:
Operating expenses:
Compensation and benefits		295			346		116		-15	%		154	%
Other		312			239		88		31	%		255	%
Total operating expenses		607			585		204		4	%		198	%
Intangible asset amortization		36			36		5		—	%		620	%
Merger-related and restructuring expenses		63			91		60		-31	%		5	%
Goodwill impairment		2,426			—		—
Total non-interest expense		3,132			712		269		340	%		1064	%
(Loss) income before income taxes		(2,817	)		268		184		-1151	%		-1631	%
Income tax (benefit) expense		(112	)		61		12		-284	%		-1033	%
Net (loss) income		(2,705	)		207		172		-1407	%		-1673	%
Preferred stock dividends		8			8		8		—	%		—	%
Net (loss) income available to common stockholders	$	(2,713	)	$	199	$	164		-1463	%		-1754	%
Basic (loss) earnings per common share	$	(3.76	)	$	0.27	$	0.30		-1493	%		-1353	%
Diluted (loss) earnings per common share	$	(3.76	)	$	0.27	$	0.30		-1493	%		-1353	%
Dividends per common share	$	0.05		$	0.17	$	0.17		-71	%		-71	%

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NEW YORK COMMUNITY BANCORP, INC.

CONSOLIDATED STATEMENTS OF (LOSS) INCOME

	For the Twelve Months Ended						Change
	December 31, 2023			December 31, 2022			Amount			Percent
(dollars in millions, except per share data)
Interest Income:
Loans and leases	$	4,509		$	1,848			2,661			144	%
Securities and money market investments		982			244			738			302	%
Total interest income		5,491			2,092			3,399			162	%
Interest Expense:
Interest-bearing checking and money market accounts		943			226			717			317	%
Savings accounts		169			60			109			182	%
Certificates of deposit		646			97			549			566	%
Borrowed funds		656			313			343			110	%
Total interest expense		2,414			696			1,718			247	%
Net interest income		3,077			1,396			1,681			120	%
Provision for credit losses		833			133			700			526	%
Net interest income after provision for credit losses		2,244			1,263			981			78	%
Non-Interest Income:
Fee income		172			27			145			537	%
Bank-owned life insurance		43			32			11			34	%
Net losses on securities		(1	)		(2	)		1			-50	%
Net return on mortgage servicing rights		103			6			97			1617	%
Net gain on loan sales and securitizations		89			5			84			1680	%
Net loan administration income		82			3			79			2633	%
Bargain purchase gain		2,131			159			1,972			1240	%
Other income		68			17			51			300	%
Total non-interest income		2,687			247			2,440			988	%
Non-Interest Expense:
Operating expenses:
Compensation and benefits		1,149			354			795			225	%
Other		950			250			700			280	%
Total operating expenses		2,099			604			1,495			248	%
Intangible asset amortization		126			5			121			2420	%
Merger-related and restructuring expenses		330			75			255			340	%
Goodwill impairment		2,426			—			2,426			N/M
Total non-interest expense		4,981			684			4,297			628	%
(Loss) income before income taxes		(50	)		826			(876	)		-106	%
Income tax expense		29			176			(147	)		-84	%
Net (loss) income		(79	)		650			(729	)		-112	%
Preferred stock dividends		33			33			—			—	%
Net (loss) income available to common stockholders	$	(112	)	$	617			(729	)		-118	%
Basic (loss) earnings per common share	$	(0.16	)	$	1.26		$	(1.41	)		-111	%
Diluted (loss) earnings per common share	$	(0.16	)	$	1.26		$	(1.43	)		-113	%
Dividends per common share	$	0.56		$	0.68		$	(0.12	)		-18	%

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CAPITAL POSITION

The Company’s regulatory capital ratios continue to exceed regulatory minimums to be classified as “Well Capitalized,” the highest regulatory classification. The table below depicts the Company’s and the Bank’s regulatory capital ratios at those respective periods.

	December 31, 2023			September 30, 2023			December 31, 2022
REGULATORY CAPITAL RATIOS: (1)
New York Community Bancorp, Inc.
Common equity tier 1 ratio		9.07	%		9.59	%		9.06	%
Tier 1 risk-based capital ratio		9.64	%		10.17	%		9.78	%
Total risk-based capital ratio		11.79	%		11.97	%		11.66	%
Leverage capital ratio		7.75	%		7.92	%		9.70	%
Flagstar Bank, N.A.
Common equity tier 1 ratio		10.54	%		11.10	%		10.96	%
Tier 1 risk-based capital ratio		10.54	%		11.10	%		10.96	%
Total risk-based capital ratio		11.64	%		11.77	%		11.43	%
Leverage capital ratio		8.48	%		8.64	%		10.87	%

(1) The minimum regulatory requirements for classification as a well-capitalized institution are a common equity tier 1 capital ratio of 6.5%; a tier one risk-based capital ratio of 8.00%; a total risk-based capital ratio of 10.00%; and a leverage capital ratio of 5.00%.

While diluted earnings per common share, net income, net income available to common stockholders, and total non-interest income are financial measures that are recorded in accordance with GAAP, financial measures that adjust these GAAP measures to exclude expenses and the bargain purchase gains related to our merger with Flagstar and the Signature transaction, and initial provision for credit losses are not. Nevertheless, it is management’s belief that these non-GAAP measures should be disclosed in our earnings release and other investor communications because they are not considered part of recurring operations and are included because the Company believes they may provide useful supplemental information for evaluating the underlying performance trends of the Company.

	For the Three Months Ended								For the Twelve Months Ended
(dollars in millions, except per share data)	December 31, 2023			September 30, 2023		December 31, 2022			December 31, 2023			December 31, 2022
Net (loss) income - GAAP	$	(2,704	)	$	207	$	172		$	(79	)	$	650
Merger-related and restructuring expenses, net of tax (1)		46			67		48			245			59
Goodwill impairment		2,426			—		—			2,426			—
FDIC special assessment, net of tax		36			—		—			36			—
Bargain purchase gain		11			—		(159	)		(2,131	)		(159	)
Initial provision for credit losses, net of tax		—			—		86			97			86
Provision for bond related credit losses, net of tax		—			—		—			15			—
Net (loss) income, as adjusted - non-GAAP	$	(185	)	$	274	$	147		$	609		$	636
Preferred stock dividends		8			8		8			33			33
Net (loss) income available to common stockholders, as adjusted - non-GAAP	$	(193	)	$	266	$	139		$	576		$	603
Diluted (loss) earnings per common share - GAAP	$	(3.76	)	$	0.27	$	0.30		$	(0.16	)	$	1.26
Diluted (loss) earnings per common share, as adjusted - non-GAAP	$	(0.27	)	$	0.36	$	0.25		$	0.80		$	1.23

(1) Certain merger-related items are not taxable or deductible.

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