New York Community Bancorp, Inc. Completes the Integration of Its Commercial Bank Systems

Business Wire, Nov 14, 2006

WESTBURY, N.Y. -- New York Community Bancorp, Inc. (NYSE: NYB), the $28.9 billion multi-bank holding company for New York Community Bank and New York Commercial Bank, today announced that the integration of its commercial bank data processing systems has been successfully completed.

The integration represents the culmination of a two-stage process that began with the Company's acquisitions of Long Island Financial Corp. ("Long Island Financial") at the end of December and Atlantic Bank of New York ("Atlantic Bank") on April 28, 2006. In October, the data processing systems used by the twelve New York Commercial Bank branches acquired in the Long Island Financial transaction were upgraded; this past weekend, the 17 branches acquired in the Atlantic Bank transaction were converted to the same upgraded systems.

As a result of the integration, customers of the Commercial Bank will be able to bank at any of the branches within the New York Commercial Bank franchise, regardless of the branch's origin.

Commenting on the integration, President and Chief Executive Officer Joseph R. Ficalora stated, "The completion of the conversion in such a timely and efficient manner is a testament to the dedicated team of people who have been intently focused on this project, and the Company's commitment to providing our customers with the convenience they deserve. The integration was seamless in its execution, and our commercial bank customers can now be readily served at any of the locations within our network of commercial bank branch offices.

"Our commercial bank platformCoincluding our data and item processing facilitiesCohave been built from the ground up by a solid team of people from our IT Department, retail operations, lending, and finance, including employees who joined our staff from Long Island Financial and Atlantic Bank. Our technology-driven platform is not only strong and state-of-the-art, but flexible in its structureCoin other words, designed to keep pace with the Company's growth.

"In the past ten months, we've invested significant capital resources in technology to ensure that our commercial bank franchise offers our customers a superior level of convenience," Mr. Ficalora continued. "In addition to enhancing customer service, the integration will enhance the efficiency of our operation, with obvious financial benefits to the Company."

New York Community Bancorp, Inc. is the $28.9 billion multi-bank 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 137 offices serving New York City, Long Island, Westchester County, and northern New Jersey, New York Community Bank is the third largest thrift depository in the New York metropolitan region, and operates through seven local divisions: Queens County Savings Bank, Roslyn Savings Bank, Richmond County Savings Bank, Roosevelt Savings Bank, CFS Bank, First Savings Bank of New Jersey, and Ironbound Bank. New York Commercial Bank has 29 branches serving Manhattan, Queens, Brooklyn, Westchester County, and Long Island, including 17 branches of Atlantic Bank. Additional information about New York Community Bancorp, Inc. and its bank subsidiaries is available at www.myNYCB.com.