New York Community Bank

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New York Community Bancorp, Inc.
TypePublic company
S&P 400 component
IndustryCommercial bank
Founded1859; 163 years ago (1859)
HeadquartersHicksville, New York, USA
Number of locations
225 branches
Key people
Joseph R. Ficalora, Retired CEO
Thomas R. Cangemi, CEO
Dominick Ciampa, Chairman
ProductsMulti-family loans
Commercial real estate loans
Total assetsIncrease $49.124 billion (2017)
Total equityIncrease $6.292 billion (2017)
Number of employees
3,096 (2017)
Capital ratio11.36% Common equity tier 1 capital (2017)
Footnotes / references
New York Community footprint in the New York metropolitan area (upper-left), southern Florida (upper-right), Ohio (lower-left), and Arizona (lower-right)

New York Community Bancorp, Inc. (NYCB) is a bank headquartered in Westbury, New York with 225 branches in New York, New Jersey, Ohio, Florida and Arizona.[1] NYCB is on the list of largest banks in the United States.

Almost all of the loans originated by the bank are either multi-family or commercial loans, many of them are in New York City, and are subject to laws regarding rent control in New York.

In late December 2020, the bank announced a change in executive leadership. Longtime President, CEO and board member Joseph Ficalora announced he would retire from all three posts in two days time.[2] Thomas Cangemi, the company's CFO since 2005, will become president and the CEO.[3]

On April 26, 2021, New York Community Bank issued a press release indicating that they were acquiring Flagstar Bank in an all stock strategic merger. [4][5]


New York Community Bank operates branches under the following names:[1]

  • Community Bank (New York)
  • Queens County Savings Bank (New York)
  • Roslyn Savings Bank (New York)
  • Richmond County Savings Bank (New York)
  • Roosevelt Savings Bank (New York)
  • Atlantic Bank (New York)
  • Garden State Community Bank (New Jersey)
  • AmTrust Bank (Florida and Arizona)
  • Ohio Savings Bank (Ohio)


NYCB was founded on April 14, 1859, in Flushing, Queens, as Queens County Savings Bank,[1] and changed its name on December 15, 2000, to New York Community Bank to better reflect its market area beyond Queens.

In 1993, the company became a public company via an initial public offering.[1]

In 2000, the bank acquired Haven Bancorp for $196 million.[6]

In 2001, NYCB acquired Richmond County Financial in an $802 million transaction.[7]

In 2002, NYCB acquired asset manager Peter B. Cannell & Co.[8]

In 2003, NYCB acquired Roslyn Bancorp in a $1.6 billion transaction.[9]

In 2005, NYCB acquired Long Island Financial in a $70 million transaction.[10]

In 2006, NYCB acquired Atlantic Bank of New York from the National Bank of Greece for $400 million.[11]

In March 2007, NYCB acquired 11 branches in New York City from Doral Financial Corporation.[12]

In April 2007, NYCB acquired Penn Federal Savings Bank for $262 million, adding branches in East Central and North East New Jersey.[13]

In October 2007, NYCB acquired Synergy Bank of Cranford, New Jersey for $168 million in stock. In September 2009, NYCB re-branded the Synergy branches to Garden State Community Bank.[14]

In December 2009, the Federal Deposit Insurance Corporation seized AmTrust, a bank headquartered in Cleveland, OH with 66 branches and $13 billion in assets in Ohio, Florida and Arizona.[15] NYCB acquired Amtrust, which expanded NYCB's branch footprint outside of the New York metropolitan area for the first time.[16] In 2017, the bank sold the mortgage business acquired from the purchase of AmTrust at a $90 million profit.[17]

In March 2010, Desert Hills Bank of Phoenix, Arizona, with $496 million in assets, was seized by the FDIC and acquired by NYCB.[18][19]

In June 2012, NYCB acquired the assets of Aurora Bank from Lehman Brothers.[20]

On October 29, 2015, the bank announced an agreement to merge with Astoria Bank, but the proposed merger was terminated in December 2016 after failing to win regulatory approval.[21][22]

On November 4, 2016, Brooklyn Sports & Entertainment announced that the bank had acquired the naming rights to Nassau Coliseum; it was renamed "NYCB Live: Home of the Nassau Veterans Memorial Coliseum", due to agreements requiring that "Nassau Veterans Memorial Coliseum" remain in the arena's name.[23] NYCB pulled out of its naming rights contract in late August 2020 due to uncertainty surrounding the property after a June 2020 closure and subsequent new leaseholder.[24]

On April 26, 2021, NYCB issued a press release indicating that they were acquiring Flagstar Bank in an all stock strategic merger. [4][5]


  1. ^ a b c d e "New York Community Bancorp, Inc. 2017 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ^ Kline, Allissa. "Sudden Change at the top of New York Community". National Mortgage News. Retrieved Dec. 28 2020.
  3. ^ DiMartino, Salvatore (December 28, 2020). "New York Community Bancorp, Inc. Announces Leadership Transition Plan" (Press release). Westbury, NY: PRNewswire. Retrieved 2020-12-28.
  4. ^ a b "New York Community Bancorp, Inc. To Acquire Flagstar Bancorp, Inc. In An All Stock Strategic Merger". Retrieved 2021-04-28.
  5. ^ a b "New York Community Bancorp, Inc. To Acquire Flagstar Bancorp, Inc. In An All Stock Strategic Merger". Retrieved 2021-04-28.
  6. ^ "Metro Business: Haven Bancorp Acquired". The New York Times. Bloomberg L.P. June 29, 2000.
  8. ^ Solnik, Claude (December 28, 2001). "NYCB acquires balance of Peter B. Cannell & Co". Long Island Business News.
  9. ^ "New York Community Bancorp, Inc. Completes Strategic Merger with Roslyn Bancorp, Inc" (Press release). New York Community Bancorp. November 3, 2003.
  10. ^ "NEW YORK COMMUNITY BANCORP, INC. TO ACQUIRE LONG ISLAND FINANCIAL CORP" (Press release). U.S. Securities and Exchange Commission. August 1, 2005.
  11. ^ Diamataris, Antonis (October 14, 2005). "Ntl. Bank of Greece Sells Atlantic Bank to New York Bank for $400M in Cash". The National Herald.
  12. ^ "New York Community Bancorp, Inc. Announces the Acquisition of 11 New York City Branches of Doral Bank, FSB by New York Commercial Bank" (Press release). Business Wire. March 15, 2007.
  13. ^ "New York Community Bancorp, Inc. Completes the Acquisition of PennFed Financial Services, Inc" (Press release). Business Wire. April 2, 2007.
  14. ^ "New York Community bank buys Synergy for $168 mln". Reuters. May 14, 2007.
  15. ^ "FDIC Failed Bank Information: Information for AmTrust Bank, Cleveland, OH". Federal Deposit Insurance Corporation.
  16. ^ Murray, Teresa Dixon (December 4, 2009). "AmTrust Bank fails, bought by New York bank". Cleveland Plain Dealer.
  17. ^ "New York Community Bancorp, Inc. Announces Strategic Sale of Mortgage Banking Business and Residential Assets Covered under FDIC Loss Share Agreement" (Press release). Business Wire. June 27, 2017.
  18. ^ "FDIC Failed Bank Information: Information for Desert Hills Bank, Phoenix, AZ". Federal Deposit Insurance Corporation.
  19. ^ Casacchia, Chris (March 27, 2010). "Desert Hills Bank latest to be shut down by FDIC". American City Business Journals.
  20. ^ "Lehman Brothers Holdings Announces Completion of the Sale of Substantially All Aurora Bank Assets and Insured Deposits" (Press release). Business Wire. June 29, 2012.
  21. ^ Orol, Ronald (December 20, 2016). "N.Y. Community Bank Scraps $2 Billion Astoria Deal as Fed Review Lingers".
  22. ^ "New York Community Bancorp, Inc. and Astoria Financial Corporation Announce the Termination of Their Definitive Merger Agreement Effective January 1, 2017" (Press release). Business Wire. December 20, 2016.
  23. ^ Baumbach, Jim; Ferrette, Candice (August 27, 2020). "The name NYCB Live's Nassau Coliseum is no more". Newsday. Retrieved October 14, 2020.
  24. ^ Baumbach, Jim; C; c; Pm, 2020 7:22. "The name NYCB Live's Nassau Coliseum is no more". Newsday. Retrieved 2021-04-28.{{cite web}}: CS1 maint: numeric names: authors list (link)

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