Exhibit 99.1

                   New York Community Bancorp, Inc.
Announces the Addition of Four Senior Lending Officers to the Lending
                   Team at New York Commercial Bank


    WESTBURY, N.Y.--(BUSINESS WIRE)--Jan. 2, 2008--New York Community
Bancorp, Inc. (NYSE: NYB) (the "Company") today announced the addition
of four senior commercial lending officers to the lending team at its
commercial bank subsidiary, New York Commercial Bank (the "Commercial
Bank"). The four officers have worked together for 25 years at a
number of respected financial institutions including, most recently,
State Bank of Long Island.

    Among those joining the Commercial Bank is Kenneth M. Scheriff,
whose tenure with State Bank of Long Island began in 1995. As
Executive Vice President and team leader, Mr. Scheriff's
responsibilities extended beyond lending to include the oversight of
such corporate initiatives as the establishment of an equipment
leasing subsidiary. Mr. Scheriff joins the Commercial Bank as
Executive Vice President and Regional Manager, and will operate out of
its offices in Islandia, New York.

    Joining Mr. Scheriff at the Commercial Bank as First Vice
President and Lending Officer are three long-term colleagues and
senior lending officers, James T. Burns, Kevin Hennessy, and Scott
Swain. The team will be supported by Christopher Beck, who joins the
Commercial Bank as Commercial Lending Officer, and Joan Kuehne, who
joins as Banking Associate. Together, Mr. Scheriff and his team have
generated a significant volume of commercial loans and deposits, while
establishing a solid reputation for building long-term relationships
with business clients throughout Long Island and Queens.

    Commenting on the hiring of Mr. Scheriff and his colleagues,
Company Chairman, President, and Chief Executive Officer Joseph R.
Ficalora stated, "With the addition of this cohesive group of lenders
to the Commercial Bank, we have strengthened our capacity to serve the
small and mid-sized businesses that operate in our market. We look
forward to leveraging their expertise and knowledge, as well as the
strong client relationships they have developed and maintained over
the past 25 years.

    "We are especially pleased by the quality of the loans that Ken
and his colleagues have originated, given the strength of our own
credit standards and our focus on maintaining our record of asset
quality. While commercial lending will continue to represent a small
portion of our business, we believe that Ken's team will provide a
stable foundation for our C&I lending in the current credit cycle, as
they capitalize on the greater resources we offer to build on the
relationships they've formed individually and collectively.
Furthermore, as we continue our core strategy of growing through
acquisitions, we believe that the team will be instrumental in the
process of identifying opportunities for prudent loan growth as the
cycle, and our marketplace, continue to evolve."

    With assets in excess of $30 billion, New York Community Bancorp,
Inc. is the 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. A New York State-chartered savings bank
with 180 offices serving New York City, Long Island, 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. A
New York State-chartered commercial bank, New York Commercial Bank has
38 branches serving Manhattan, Queens, Brooklyn, Westchester County,
and Long Island. 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
             Executive Vice President &
             Director, Investor Relations