Conversion to a Single Operating Platform Enhances Customer Service and Efficiency throughout the Franchise

WESTBURY, N.Y.--(BUSINESS WIRE)-- New York Community Bancorp, Inc. (NYSE: NYB) (the “Company”) today announced that the conversion of the operating system used in the 68 branches of New York Community Bank in Ohio, Florida, and Arizona to the same system used in the 172 branches of New York Community Bank in New York and New Jersey and the 34 branches of New York Commercial Bank in New York was completed on September 2, 2012.

In addition to enhancing the efficiency of the Community Bank’s operation, the systems integration will enable its customers in Ohio, Florida, and Arizona to have access to the same enhanced menu of products and services as those enjoyed by its customers in New Jersey and New York. Furthermore, customers throughout the Community Bank’s five-state franchise will be able to conduct their banking business at any of the 274 branches of New York Community Bank and New York Commercial Bank, combined.

Commenting on the conversion, President and Chief Executive Officer Joseph R. Ficalora stated, “Integrating all of our Community Bank branches onto a single operating system was the final step in a process that began when we integrated our Community Bank and Commercial Bank branches in New York and New Jersey onto a single system in June 2010. For customers of our Ohio Savings Bank and AmTrust Bank divisions, the benefits are particularly substantial, as they now will have access to an expanded product menu--one that addresses the financial needs of consumers and businesses alike. The integration of our systems also will facilitate enhancements to our online banking service and the introduction of additional products, later on this year.

“At the same time, the conversion will support the efficiency of our operation, with the decline in systems-related expenses offsetting the increase in certain other costs. As the costs of compliance increase in tandem with the increase in bank regulation, the decline in systems-related expenses is particularly well timed.

“The seamlessness of our transition to a single operating system largely reflects the expertise we have developed in the process of integrating 11 banks into one over the past 12 years. I especially would like to thank our Chief Operating Officer and Director, Robert Wann, and the senior members of our project management team for their leadership in this endeavor, as well as the thousands of branch and back-office employees who were involved in planning, training, and preparing for this event. Their expertise will facilitate our integration efforts in the future as we continue to pursue our strategy of acquisition-driven growth,” Mr. Ficalora said.

About New York Community Bancorp, Inc.

With assets of $43.5 billion at June 30, 2012, New York Community Bancorp, Inc. is the 21st 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, a thrift, with 240 branches serving customers throughout Metro New York, New Jersey, Florida, Ohio, and Arizona; and New York Commercial Bank, with 34 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 17 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 may include forward-looking statements by the Company and our authorized officers pertaining to such matters as our goals, intentions, and expectations regarding revenues, earnings, loan production, asset quality, and acquisitions, among other matters; our estimates of future costs and benefits of the actions we may take; our assessments of probable losses on loans; our assessments of interest rate and other market risks; and our ability to achieve our financial and other strategic goals.

Forward-looking statements are typically identified by use of the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “outlook,” “forecast,” “project,” “plan,” and other similar words and expressions. Because forward-looking statements are subject to numerous assumptions, risks, and uncertainties, which change over time, actual results or future events could differ, perhaps materially, from those anticipated in our statements, and our future performance could differ materially from our historical results. In addition, forward-looking statements speak only as of the date they are made. The Company does not assume any duty to, and does not undertake to, update our forward-looking statements.

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, 2011 and our Forms 10-Q for the quarters ended March 31, and June 30, 2012, including in the Risk Factors section of those and our other SEC reports. Our forward-looking statements may also be subject to other risks and uncertainties, including those we may discuss in our news releases, conference calls, during investor presentations, or in our SEC filings, which are accessible on our websites and at the SEC’s web site, www.sec.gov.

New York Community Bancorp, Inc.
Investor Contact:
Ilene A. Angarola, 516-683-4420
Media Contact:
Kelly Maude Leung, 516-683-4032

Source: New York Community Bancorp, Inc.