New York Community Bank
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| Public | |
| Traded as | : NYCB S&P 400 Component |
| Industry | Commercial bank |
| Founded | 1859 |
| Headquarters | Westbury, NY, United States |
| Products | Multi-family loans, commercial real estate loans |
| Revenue |
 US$1.4 Billion (2015)
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 US$0.4 Billion (2015)
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US$-0.0 Billion (2015)
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| Total assets |
US$50.3 Billion (2015)
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| Total equity |
US$5.9 Billion (2015)
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Number of employees
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3,448 (2015) |
| Website | www |
New York Community Bancorp, Inc. (NYCB) is a Fortune 1000 bank headquartered in Westbury, NY with 227 branches in New York, New Jersey, Ohio, Florida and Arizona. NYCB was founded in 1859 in Flushing, Queens as Queens County Savings Bank, and changed their name on December 15, 2000 to New York Community Bank to better reflect their market area beyond Queens. With over $50 billion in assets, it is one of the 25 largest bank holding companies in the nation.
NYCB serves New York City, Long Island, and Westchester County through its Queens County Savings Bank, Richmond County Savings Bank, Roosevelt Savings Bank, Roslyn Savings Bank, and New York Community branded branches. It serves northern New Jersey through its newly formed Garden State Community Bank division, which consolidated four divisions: First Savings Bank of New Jersey, Ironbound Bank, Penn Federal Savings Bank, and Synergy Bank. Customers of NYCB can make transactions at any branch regardless of division.
Additionally, New York Community Bancorp has a second, commercial banking subsidiary, New York Commercial Bank (formerly Long Island Commercial Bank), which operates two divisions, New York Commercial Bank and Atlantic Bank of New York. The two subsidiaries operate separate banking systems but transactions for both can be effected at any NYCB-marked branch. Last year, it was announced that the commercial bank division will be merged into the community bank division. This is set to be completed by the 2nd Quarter of 2016.
On October 29, 2015, New York Community Bancorp announced Astoria Bank will merge with and into New York Community Bank. The merger is set to be completed by 4th Quarter of 2016.
In New York City where the majority of the housing stock consists of rental units in multi-family buildings, New York Community Bank has been producing multi-family loans for more than 40 years. As the only lender to consistently provide funds to finance the City’s multi-family buildings during all economic cycles so to forge a market leadership in this lending niche.
Most of the loans produced by the Bank are secured for low to moderate income buildings that are subject to rent control and rent stabilization laws. Of the $32 billion of multi-family loans produced by the Bank from January 1, 1993 through March 31, 2011, approximately $24 billion (75%) were secured for such properties.
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Wikipedia