Parent Company Only Financial Information

12 Months Ended

Dec. 31, 2022

NOTE 20: 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)		2022		2021
ASSETS:
Cash and cash equivalents	$		121		139
Investments in subsidiaries			9,633		7,525
Other assets			85		48
Total assets	$		9,839		7,712
LIABILITIES AND STOCKHOLDERS’ EQUITY:
Junior subordinated debentures	$		575		361
Subordinated notes			432		296
Other liabilities			8		11
Total liabilities			1,015		668
Stockholders’ equity			8,824		7,044
Total liabilities and stockholders’ equity	$		9,839		7,712

Condensed Statements of Income


		Years Ended December 31,
(in millions)		2022		2021		2020
Dividends received from subsidiaries	$		335	$	4	$	380
Other income			160		1		1
Gross income			495		381		381
Operating expenses			55		50		52
Income before income tax benefit and equity in undistributed earnings of subsidiaries			440		331		329
Income tax benefit			14		14		14
Income before equity in undistributed earnings of subsidiaries			454		345		343
Equity in undistributed earnings of subsidiaries			196		251		168
Net income	$		650	$	596	$	511

Condensed Statements of Cash Flows


		Years Ended December 31,
(in millions)		2022				2021				2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$		650			$	596			$	511
Change in other assets			(3	)			(22	)			—
Change in other liabilities			(4	)			1				—
Other, net			(130	)			32				30
Equity in undistributed earnings of subsidiaries			(196	)			(251	)			(168	)
Net cash provided by operating activities			317				356				373
CASH FLOWS FROM INVESTING ACTIVITIES:
Cash acquired in business acquisition			34				—				—
Change in receivable from subsidiaries, net			5				(3	)			2
Net cash provided by (used in) investing activities			39				(3	)			2
CASH FLOWS FROM FINANCING ACTIVITIES:
Treasury stock repurchased			(24	)			(16	)			(59	)
Cash dividends paid on common and preferred stock			(350	)			(349	)			(348	)
Net cash used in financing activities			(374	)			(365	)			(407	)
Net decrease in cash and cash equivalents			(18	)			(12	)			(32	)
Cash and cash equivalents at beginning of year			139				151				183
Cash and cash equivalents at end of year	$		121		$		139		$		151