EXHIBIT 99.1

                   New York Community Bancorp, Inc.
  Announces the Appointment of Robert Wann to the Board of Directors


    WESTBURY, N.Y.--(BUSINESS WIRE)--Dec. 21, 2007--New York Community
Bancorp, Inc. (NYSE: NYB) (the "Company") today announced the
appointment of Robert Wann to the Boards of Directors of the Company
and its subsidiary banks, New York Community Bank and New York
Commercial Bank. Mr. Wann has served as Senior Executive Vice
President and Chief Operating Officer of the Company and the Banks
since October 31, 2003.

    Prior to his appointment as Chief Operating Officer, Mr. Wann
provided leadership for the Company's finance division, where he
started as a staff accountant in 1982. In 1989, he was appointed
Controller, and in 1991, he was named Chief Financial Officer. During
his tenure, Mr. Wann has been instrumental in the Company's evolution
from a $750 million thrift with six branches in Queens and Nassau
counties to a $30 billion multi-bank holding company with 218
locations spanning two states. As Chief Financial Officer, he played
an integral role in the formation of the Company, its conversion to
stock form, and its subsequent growth through a series of merger
transactions. As Chief Operating Officer, he has overseen the
merger-related expansion of the branch network, the systems
conversions that followed, and the enhancement of the Company's
product menu and internal controls.

    A graduate of Queens College with a degree in accounting, Mr. Wann
today serves on the Board of Directors of the Queens College
Foundation and is a member of the Queens College Art Advisory Board.
Mr. Wann has also served as president of the Flushing Central Lions
Club in Queens.

    Commenting on Mr. Wann's appointment, Chairman, President, and
Chief Executive Officer Joseph R. Ficalora stated, "It gives me great
pleasure to announce Robert's appointment to the Board of Directors.
In the 25 years since he joined us, he has been unwavering in his
commitment to building a quality institution, in his focus on
enhancing customer service, and in his dedication to increasing the
value of our shares. He is a skilled administrator, admired by his
colleagues, and respected by those he works with, both within and
outside the Company. As a member of the Chinese American community,
Robert has been key to our efforts to address the needs of our diverse
customer base. Robert's versatility is reflected in the range of
functions he has been tasked with overseeing, from treasury and
accounting to retail operations, branch administration, human
resources, purchasing, facilities, and regulatory oversight. His
appointment to the Board is testament to the value of his past
contributions and to the importance of his experience, knowledge, and
integrity to our future success."

    New York Community Bancorp, Inc. is the $30 billion holding
company for New York Community Bank and New York Commercial Bank, and
the leading producer of multi-family loans for portfolio in New York
City. With 180 offices serving New York City, Long Island, and
Westchester County in New York, and Essex, Hudson, Mercer, Middlesex,
Monmouth, Ocean, and Union counties in New Jersey, New York Community
Bank is the fourth largest thrift depository in its market, and
currently operates through ten 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, Penn Federal Savings Bank, Synergy Bank, and Garden State
Community Bank. New York Commercial Bank has 38 branches serving
Manhattan, Queens, Brooklyn, Westchester County, and Long Island,
including 19 branches of 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 &
             Director, Investor Relations