Parent Company Only Financial Information

12 Months Ended

Dec. 31, 2018

Parent Company Only Financial Information

NOTE 16: 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)	2018		2017
ASSETS:
Cash and cash equivalents	$	228,618	$	90,536
Investments in subsidiaries		7,064,341		7,050,139
Receivables from subsidiaries		6,455		4,750
Other assets		23,724		23,980
Total assets	$	7,323,138	$	7,169,405
LIABILITIES AND STOCKHOLDERS’ EQUITY:
Junior subordinated debentures	$	359,508	$	359,179
Subordinated notes		294,697		—
Other liabilities		13,698		14,850
Total liabilities		667,903		374,029
Stockholders’ equity		6,655,235		6,795,376
Total liabilities and stockholders’ equity	$	7,323,138	$	7,169,405

Condensed Statements of Income

	Years Ended December 31,
(in thousands)	2018		2017		2016
Interest income	$	500	$	943	$	527
Dividends received from subsidiaries		380,000		336,000		330,000
Other income		793		1,700		679
Gross income		381,293		338,643		331,206
Operating expenses		59,372		54,333		49,157
Income before income tax benefit and equity in underdistributed earnings of subsidiaries		321,921		284,310		282,049
Income tax benefit		16,616		19,575		19,592
Income before equity in underdistributed (overdistributed) earnings of subsidiaries		338,537		303,885		301,641
Equity in underdistributed earnings of subsidiaries		83,880		162,316		193,760
Net income	$	422,417	$	466,201	$	495,401

Condensed Statements of Cash Flows

	Years Ended December 31,
(in thousands)	2018			2017			2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	422,417		$	466,201		$	495,401
Change in other assets		256			10,122			316
Change in other liabilities		(1,152	)		(36,226	)		(2,252	)
Other, net		36,677			36,330			33,333
Equity in underdistributed earnings of subsidiaries		(83,880	)		(162,316	)		(193,760	)
Net cash provided by operating activities	$	374,318		$	314,111		$	333,038
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sales and repayments of securities	$	—		$	2,000		$	—
Change in receivable from subsidiaries, net		(1,705	)		3,089			(204	)
Investment in subsidiaries		—			(420,000	)		—
Net cash used in investing activities		(1,705	)		(414,911	)	$	(204	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Treasury stock repurchased	$	(163,249	)	$	(18,463	)	$	(8,677	)
Cash dividends paid on common and preferred stock		(365,889	)		(356,768	)		(330,810	)
Proceeds from issuance of preferred stock		—			502,840			—
Proceeds from issuance of subordinated notes		294,607			—			—
Net cash (used in) provided by financing activities		(234,531	)	$	127,609		$	(339,487	)
Net increase (decrease) in cash and cash equivalents		138,082			26,809			(6,653	)
Cash and cash equivalents at beginning of year		90,536			63,727			70,380
Cash and cash equivalents at end of year	$	228,618		$	90,536		$	63,727