WESTBURY, N.Y.--(BUSINESS WIRE)-- New York Community Bancorp, Inc. (NYSE:NYB), the holding company for New York Community Bank and New York Commercial Bank, today announced that the Community Bank successfully installed a new in-house core data processing system over the Labor Day weekend, and has deployed a significantly enhanced version of Fidelity National Information Services, Inc.'s (FIS) MISER software on that system.

Commenting on the system installation, Chairman, President, and Chief Executive Officer Joseph R. Ficalora stated, "This weekend's success was the culmination of months of planning and effort on the part of numerous employees, and is a tribute to their dedication to our customers and the Company. Robert Wann, our Chief Operating Officer, and his project management team worked in close alliance with FIS to develop specialized functionality on the MISER software, including multibank processing and a Proof of Deposit ("POD") environment that supports the unique character and profile of our Company."

"The benefits of the new system are truly universal," Mr. Wann noted. "There's something for each of our key constituencies. For our customers, it means substantially faster service, with far less time spent waiting in line for assistance. For our lending officers and branch personnel, it means the ability to more easily access and analyze our customer information--the foundation for building multi-faceted banking relationships."

"For our shareholders, the new system means we have a more efficient operation, with an expected 40% to 50% reduction in our systems-related expense," Mr. Ficalora said. "In addition, the MISER system will facilitate any future systems integrations necessitated by our acquisition of other banks and thrifts.

"The next and final step in the process will be installing the new system in our 35 Commercial Bank branches, currently slated for the end of the first quarter of 2010. Upon completion of that process, our entire family of banks, which includes six divisional banks and 212 branches throughout Metro New York and New Jersey, will be on a fully integrated system, enhancing convenience and service for all our customers, while providing our depositors with twice the FDIC insurance provided by a single bank. These enhancements are yet another cause for celebration in this, our 150th anniversary year," Mr. Ficalora commented.

Anthony Jabbour, Executive Vice President for FIS' Financial Solutions Group stated, "New York Community Bank's conversion to MISER is the largest new core conversion in recent U.S. history and was successfully completed in a very short period of time, which is a testament to the hard work and partnership between our two teams. We're excited about the new features and functionality within MISER and are pleased that the bank will realize significant efficiencies and capabilities to service their customers. We're also excited that New York Community Bank will benefit from the new integration of MISER with their existing Metavante solutions--a development that is also strategically important to FIS."

About New York Community Bancorp, Inc.

With assets of $32.9 billion at June 30, 2009, New York Community Bancorp, Inc. is the 24th largest bank holding company in the nation and a leading producer of multi-family loans in New York City, with an emphasis on apartment buildings that feature below-market rents. The Company has two bank subsidiaries: New York Community Bank, with 177 branches serving customers throughout Metro New York and New Jersey; and New York Commercial Bank, with 35 branches serving customers in Manhattan, Queens, Brooklyn, Long Island, and Westchester County in New York.

Reflecting its growth through a series of acquisitions, the Community Bank currently operates through five local divisions: Queens County Savings Bank in Queens, Roslyn Savings Bank on Long Island, Richmond County Savings Bank on Staten Island, Roosevelt Savings Bank in Brooklyn, and Garden State Community Bank in New Jersey. Similarly, the Commercial Bank operates 17 of its branches under the name Atlantic Bank. Information about the Company and its bank subsidiaries is available at www.myNYCB.com and www.NewYorkCommercialBank.com.

About Fidelity National Information Services, Inc. (FIS)

Fidelity National Information Services, Inc. (NYSE: FIS), a member of the S&P 500, is a leading provider of core processing for financial institutions; card issuer and transaction processing services; and outsourcing services to financial institutions and retailers throughout the world. FIS has processing and technology relationships with 40 of the top 50 global banks, including nine of the top 10, and has been ranked the number one banking technology provider in the world by American Banker and the research firm Financial Insights in the annual FinTech 100 rankings. Headquartered in Jacksonville, Fla., FIS maintains a strong global presence, serving more than 14,000 financial institutions in more than 90 countries worldwide. For more information on Fidelity National Information Services, please visit www.fidelityinfoservices.com.

Forward-looking Statements and Associated Risk Factors

This release, like many written and oral communications presented by New York Community Bancorp, Inc. and our authorized officers, may contain certain forward-looking statements regarding our 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. We intend 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 are 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 "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "seek," "strive," "try," or future or conditional verbs such as "will," "would," "should," "could," "may," or similar expressions. Our ability to predict results or the actual effects of our plans or strategies is inherently uncertain. Accordingly, actual results may differ materially from anticipated results. For a discussion of risks that may cause actual results to differ from expectations, please refer to our Annual Report on Form 10-K for the year ended December 31, 2008, including the sections entitled "Forward-looking Statements and Associated Risk Factors" and "Risk Factors," and our Quarterly Report on Form 10-Q for the quarter ended June 30, 2009, on file with the U.S. Securities and Exchange Commission.

    Source: New York Community Bancorp, Inc.