Exhibit 99.2

( BW)(NY-NEW-YORK-COMM-BANCORP)(NYCB) New York Community Bancorp, Inc.
Increases Quarterly Cash Dividend 25% to $0.20 Per Share

     WESTBURY, N.Y.--(BUSINESS WIRE)--April 17, 2002--New York
Community Bancorp, Inc. (Nasdaq: NYCB) today announced that its
Board of Directors has raised the quarterly cash dividend 25% to
$0.20 per share. The increased dividend is payable on May 15, 2002
to shareholders of record at the close of business on May 1, 2002.
   Announcing the Board's action, President and Chief Executive
Officer Joseph R. Ficalora stated, "Consistent with our emphasis on
generating value, this is the third time we have increased our cash
dividend in a year. The increase is indicative of the strength of our
institution and our confidence in its continued capacity to earn. On
an annualized basis, the $0.80 per share dividend will provide a 2.70%
yield, based on last night's closing stock price, and represent a
payout ratio of approximately 34%, based on our current 2002 diluted
cash EPS estimates."
   Earlier today, the Company reported a 166% increase in first
quarter 2002 core earnings to $46.3 million, generating a 2.00% core
return on average assets and an 18.88% core return on average
stockholders' equity. On a diluted per share basis, the Company's core
earnings rose 68% to $0.47 in the current first quarter from $0.28 in
the year-earlier three months. The Company also raised its 2002
diluted earnings per share estimates to a range of $2.04 to $2.08 and
its 2002 diluted cash earnings per share estimates to a range of $2.30
to $2.35.
   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
currently serves its customers through a network of 54 traditional and
60 in-store branch offices in New York City, Long Island, 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 metro New York region, the Bank is the second largest
producer of multi-family mortgage loans in the City of New York.
Additional information about the Company and its financial performance
is available at www.myNYCB.com.

   Forward-Looking Statements and Associated Risk Factors

   This release contains certain forward-looking statements with
regard to the Company's prospective performance and strategies within
the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
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
"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.
   Specific factors that could cause future results to vary from
current management expectations are detailed from time to time in the
Company's SEC filings, most recently including its 2001 Annual Report
on Form 10-K.
   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.

    CONTACT: New York Community Bancorp, Inc., Westbury
             Ilene A. Angarola, 516/683-4420