Parent Company Only Financial Information

12 Months Ended

Dec. 31, 2021

NOTE 18: PARENT COMPANY-ONLY FINANCIAL INFORMATION

The following tables present the condensed financial statements for New York Community Bancorp, Inc. (Parent Company only):

Condensed Statements of Condition


		December 31,
(in millions)		2021		2020
ASSETS:
Cash and cash equivalents	$		139		151
Investments in subsidiaries			7,525		7,334
Receivables from subsidiaries			3		—
Other assets			45		23
Total assets	$		7,712		7,508
LIABILITIES AND STOCKHOLDERS’ EQUITY:
Junior subordinated debentures	$		361		360
Subordinated notes			296		296
Other liabilities			11		10
Total liabilities			668		666
Stockholders’ equity			7,044		6,842
Total liabilities and stockholders’ equity	$		7,712		7,508

Condensed Statements of Income


		Years Ended December 31,
(in millions)		2021		2020		2019
Interest income	$		—	$	—	$	—
Dividends received from subsidiaries			380		380		380
Other income			1		1		1
Gross income			381		381		381
Operating expenses			50		52		50
Income before income tax benefit and equity in underdistributed earnings of subsidiaries			331		329		331
Income tax benefit			14		14		14
Income before equity in underdistributed earnings of subsidiaries			345		343		345
Equity in underdistributed earnings of subsidiaries			251		168		50
Net income	$		596	$	511	$	395

Condensed Statements of Cash Flows


		Years Ended December 31,
(in millions)		2021				2020				2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$		596			$	511			$	395
Change in other assets			(22	)			—				—
Change in other liabilities			1				—				(2	)
Other, net			32				30				33
Equity in undistributed earnings of subsidiaries			(251	)			(168	)			(50	)
Net cash provided by operating activities			356				373				376
CASH FLOWS FROM INVESTING ACTIVITIES:
Change in receivable from subsidiaries, net			(3	)			2				4
Net cash (used in) provided by investing activities			(3	)			2				4
CASH FLOWS FROM FINANCING ACTIVITIES:
Treasury stock repurchased			(16	)			(59	)			(75	)
Cash dividends paid on common and preferred stock			(349	)			(348	)			(350	)
Net cash used in financing activities			(365	)			(407	)			(425	)
Net decrease in cash and cash equivalents			(12	)			(32	)			(45	)
Cash and cash equivalents at beginning of year			151				183				228
Cash and cash equivalents at end of year	$		139		$		151		$		183