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                        EXHIBIT 99(a)    PRESS RELEASE



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FOR IMMEDIATE RELEASE




                                                Ilene A. Angarola
                                                Senior Vice President
                                                Investor Relations
                                                (516) 683-4420

                       NEW YORK COMMUNITY BANCORP, INC.
       PRICES PUBLIC OFFERING OF 5,100,000 COMMON SHARES AT $29.00 PER
                                    SHARE


      Westbury, New York, May 8, 2002 -- New York Community Bancorp, Inc.
(Nasdaq: NYCB) today announced the public offering of 5,100,000 shares of its
common stock at a price to the public of $29.00 per share.

      The underwriters have a 30-day option to purchase a maximum of 765,000
additional shares to cover over-allotments of shares, if any. These shares are
being sold under the existing shelf registration statement that was declared
effective by the SEC today.

      Lehman Brothers and Salomon Smith Barney are the joint book-running
managers and joint lead managers together with Sandler O'Neill & Partners, L.P.
Co-managers for the offering are Advest, Inc., Janney Montgomery Scott LLC and
Keefe, Bruyette & Woods, Inc. Copies of the prospectus supplement and the
accompanying prospectus relating to the offering may be obtained from Lehman
Brothers, Salomon Smith Barney and Sandler O'Neill & Partners, L.P.

      New York Community Bancorp, Inc. is the $9.3 billion holding company for
New York Community Bank, and the eighth largest thrift in the nation, based on
market capitalization at March 31, 2002. The Bank serves its customers through a
network of 114 banking offices in New York City, Nassau, Suffolk, Rockland and
Westchester counties, and New Jersey, and operates through six divisions: Queens
County Savings Bank, Richmond County Savings Bank, CFS Bank, First Savings Bank
of New Jersey, Ironbound Bank, and South Jersey Bank. In addition to operating
the largest supermarket banking franchise in the metropolitan New York region,
with 60 in-store branches, the Bank is the second largest originator of
multi-family mortgage loans in New York City.

This press release is not an offer to buy nor shall there be any sale of these
securities in any state in which the offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of any
such state.

FORWARD-LOOKING STATEMENTS AND ASSOCIATED RISK FACTORS

This release contains certain forward-looking statements 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. The Company intends 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 is 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 "plan," "believe," "expect," "intend,"
"anticipate," "estimate," "project," or other similar expressions. The Company's
ability to predict results or the actual effects of its plans and strategies are
inherently uncertain. Accordingly, actual results may differ materially from
anticipated results. Factors that could have a material adverse effect on the
operations of the Company and its subsidiaries include, but are not limited to,
changes in market interest rates, general economic conditions, legislation, and
regulation; changes in the monetary and fiscal policies of the U.S. Government,
including policies of the U.S. Treasury and the Federal Reserve Board; changes
in the quality or composition of the loan or investment portfolios; changes in
deposit flows, competition, and demand for financial services and loan products
in the Company's local markets; changes in local real estate values; changes in
accounting principles and guidelines; war or terrorist activities; and other
economic, competitive, governmental, regulatory, geopolitical, and technological
factors affecting the Company's operations, pricing, and services. Readers are
cautioned not to place undue reliance on these forward-looking statements, which
speak only as of the date of this release. Except as required by applicable law
or regulation, the Company undertakes no obligation to update these
forward-looking statements to reflect events or circumstances that occur after
the date on which such statements were made.