Exhibit 99.1


              New York Community Bancorp, Inc. Announces
                Completion of Doral Branch Transaction

      Transaction Boosts New York Commercial Bank Franchise to 38
 Locations, Adds Assets of Approximately $485 Million and Deposits of
                      Approximately $370 Million


    WESTBURY, N.Y.--(BUSINESS WIRE)--July 27, 2007--New York Community
Bancorp, Inc. (NYSE: NYB) (the "Company") today announced that its
commercial bank subsidiary, New York Commercial Bank, last night
completed the acquisition of 11 branches in New York City from Doral
Bank, FSB. As a result, the commercial bank franchise has expanded to
38 locations, including seven in Manhattan, 11 in Queens, six in
Brooklyn, four in Westchester County, and ten on Long Island.

    Eight of the acquired branches commenced operations this morning
under the New York Commercial Bank banner, with the remaining three
branches operating through the Atlantic Bank Division of New York
Commercial Bank.

    In connection with the transaction, the Company also acquired
assets of approximately $485 million, including loans of approximately
$200 million, and deposits of approximately $370 million at an
approximate premium of 2.6%.

    Commenting on the transaction, Chairman, President, and Chief
Executive Officer Joseph R. Ficalora stated, "In little more than 18
months, we have built a commercial bank franchise with assets in
excess of $3 billion, deposits in excess of $2 billion, and 38 key
locations in the attractive Metro New York marketplace. The acquired
branches have been converted to our commercial bank systems,
facilitating the transition for our newest customers.

    "We continue to seek opportunities to further expand our
franchise," Mr. Ficalora noted, "while offering our customers an
exceptional level of personal service, the convenience of multiple
delivery channels, and a highly competitive menu of financial products
and services."

    The leading producer of multi-family loans for portfolio in New
York City, New York Community Bancorp, Inc. is a multi-bank holding
company with assets of $29.6 billion and two bank subsidiaries: New
York Community Bank and New York Commercial Bank. With 160 offices
serving customers in New York City, Long Island, and Westchester
County in New York and Essex, Hudson, Union, Ocean, Monmouth, and
Middlesex Counties in New Jersey, New York Community Bank is the
fourth largest thrift depository in its market, and operates through
eight local divisions: Queens County Savings Bank, Roslyn Savings
Bank, Richmond County Savings Bank, Roosevelt Savings Bank, CFS Bank,
First Savings Bank of New Jersey, Ironbound Bank, and Penn Federal
Savings Bank. New York Commercial Bank has 38 branches serving
customers in Manhattan, Queens, Brooklyn, Westchester County, and Long
Island, including 19 that operate under the name Atlantic Bank.
Additional information about New York Community Bancorp, Inc. and its
bank subsidiaries is available at www.myNYCB.com and
www.NewYorkCommercialBank.com.


    CONTACT: New York Community Bancorp, Inc.
             Ilene A. Angarola, 516-683-4420
             First Senior Vice President and Director, Investor
             Relations