Conversion to One-Platform Operation Enables Customers of New York Community Bank and New York Commercial Bank in New York and New Jersey to Bank at All 210 Branches, Combined

Integration of Desert Hills Bank and AmTrust Bank Operating Systems Enhances Convenience for Arizona Customers

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 conversion of the data processing system used in the 35 branches of New York Commercial Bank in New York to the system used in the 175 branches of New York Community Bank in New York and New Jersey was completed on June 20, 2010.

As a result, customers of New York Commercial Bank can also conduct their banking business at any of the New York Community Bank branches in New York and New Jersey, and customers of New York Community Bank can also conduct their banking business at any of the New York Commercial Bank branches in New York.

Commenting on the integration of all 210 branches onto a single system, Chairman, President, and Chief Executive Officer Joseph R. Ficalora stated, “the ability to interbank has been on our agenda since we added New York Commercial Bank to our banking family, and we are very pleased that this convenience is now a reality. By enabling our Community Bank and Commercial Bank customers in Metro New York and New Jersey to bank at all of our branches, we have greatly enhanced their convenience and their access to our products, while at the same time greatly enhancing our own efficiency. For our Commercial Bank customers, in particular, the advantages are substantial, given that our Community Bank branches feature extended evening and weekend hours, and many are open seven days a week.

“The credit for this achievement goes to our Chief Operating Officer, Robert Wann, and the project management team he assembled, with senior officers from finance, lending, compliance, branch administration, retail operations, and IT. Together, they have worked tirelessly to ensure a successful conversion--one with tangible benefits for our customers, our shareholders, and the Company."

“The success of this conversion was quickly followed by another, with benefits for our Arizona-based depositors and borrowers," Mr. Wann said. “On March 26th, we acquired certain assets and liabilities of Desert Hills Bank in an FDIC-assisted transaction. On June 27th, just three months later, we converted all of Desert Hills' data processing systems to those used by our AmTrust Bank division, which joined our banking family on December 4, 2009. As a result, our newest customers in northern Arizona can now bank at our branches throughout the greater Phoenix region, and vice versa, and have access to the same enhanced menu of products and services.

“With this conversion behind us, and the consolidation of our branches in greater Phoenix nearly completed, we are very much on track to exceed our expectations with regard to our internal rate of return,” Mr. Wann noted. “Our ability to integrate acquired banks is reflected in the short time it took us to integrate Desert Hills Bank and AmTrust Bank.”

About New York Community Bancorp, Inc.

With assets of $42.4 billion at March 31, 2010, New York Community Bancorp, Inc. is the 22nd largest bank holding company in the nation and a leading producer of multi-family mortgage 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, a thrift, with 244 branches serving customers throughout Metro New York, New Jersey, Florida, Ohio, and Arizona; 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 seven local divisions, each with a history of strength and service in its community: Queens County Savings Bank in Queens; Roslyn Savings Bank on Long Island; Richmond County Savings Bank on Staten Island; Roosevelt Savings Bank in Brooklyn; Garden State Community Bank in New Jersey; Ohio Savings Bank in Ohio; and AmTrust Bank in Florida and Arizona. Similarly, the Commercial Bank operates 18 of its branches under the divisional name Atlantic Bank. Additional information about the Company and its bank subsidiaries is available at www.myNYCB.com and www.NewYorkCommercialBank.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, 2009, including the sections entitled “Forward-looking Statements and Associated Risk Factors” and “Risk Factors” and our Quarterly Report on Form 10-Q for the three months ended March 31, 2010, on file with the U.S. Securities and Exchange Commission.

Source: New York Community Bancorp, Inc.