Parent Company Only Financial Information

12 Months Ended

Dec. 31, 2017

Parent Company Only Financial Information

NOTE 17: 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 thousands)	2017		2016
ASSETS:
Cash and cash equivalents	$	90,536	$	63,727
Securities available for sale		—		2,002
Investments in subsidiaries		7,050,139		6,426,276
Receivables from subsidiaries		4,750		7,839
Other assets		23,980		34,102
Total assets	$	7,169,405	$	6,533,946
LIABILITIES AND STOCKHOLDERS’ EQUITY:
Junior subordinated debentures	$	359,179	$	358,879
Other liabilities		14,850		51,076
Total liabilities		374,029		409,955
Stockholders’ equity		6,795,376		6,123,991
Total liabilities and stockholders’ equity	$	7,169,405	$	6,533,946

Condensed Statements of Income (Loss)

	Years Ended December 31,
(in thousands)	2017		2016		2015
Interest income	$	943	$	527	$	1,027
Dividends received from subsidiaries		336,000		330,000		345,000
Other income		1,700		679		527
Gross income		338,643		331,206		346,554
Operating expenses		54,333		49,157		48,255
Income before income tax benefit and equity in underdistributed (overdistributed) earnings of subsidiaries		284,310		282,049		298,299
Income tax benefit		19,575		19,592		20,720
Income before equity in underdistributed (overdistributed) earnings of subsidiaries		303,885		301,641		319,019
Equity in underdistributed (overdistributed) earnings of subsidiaries		162,316		193,760		(366,175	)
Net income (loss)	$	466,201	$	495,401	$	(47,156	)

Condensed Statements of Cash Flows

	Years Ended December 31,
(in thousands)	2017			2016			2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	466,201		$	495,401		$	(47,156	)
Change in other assets		10,122			316			(2,253	)
Change in other liabilities		(36,226	)		(2,252	)		22,236
Other, net		36,330			33,333			32,955
Equity in (underdistributed) overdistributed earnings of subsidiaries		(162,316	)		(193,760	)		366,175
Net cash provided by operating activities	$	314,110		$	333,038		$	371,957
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sales and repayments of securities	$	2,000		$	—		$	—
Change in receivable from subsidiaries, net		3,089			(204	)		224
Investment in subsidiaries		(420,000	)		—			(560,000	)
Net cash used in investing activities		(414,911	)	$	(204	)	$	(559,776	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Treasury stock purchases	$	(18,463	)	$	(8,677	)	$	(7,020	)
Cash dividends paid on common and preferred stock		(356,768	)		(330,810	)		(453,981	)
Proceeds from issuance of preferred stock		502,840			—			—
Proceeds from follow-on common stock offering, net		—			—			629,682
Net cash provided by (used in) financing activities	$	127,609		$	(339,487	)	$	168,681
Net increase (decrease) in cash and cash equivalents		26,809			(6,653	)		(19,138	)
Cash and cash equivalents at beginning of year		63,727			70,380			89,518
Cash and cash equivalents at end of year	$	90,536		$	63,727		$	70,380