Parent Company Only Financial Information

12 Months Ended

Dec. 31, 2019

Parent Company Only Financial Information

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 thousands)	2019		2018
ASSETS:
Cash and cash equivalents	$	183,063	$	228,618
Investments in subsidiaries		7,169,066		7,064,341
Receivables from subsidiaries		2,249		6,455
Other assets		23,338		23,724
Total assets	$	7,377,716	$	7,323,138
LIABILITIES AND STOCKHOLDERS’ EQUITY:
Junior subordinated debentures	$	359,866	$	359,508
Subordinated notes		295,066		294,697
Other liabilities		11,090		13,698
Total liabilities		666,022		667,903
Stockholders’ equity		6,711,694		6,655,235
Total liabilities and stockholders’ equity	$	7,377,716	$	7,323,138

Condensed Statements of Income

	Years Ended December 31,
(in thousands)	2019		2018		2017
Interest income	$	668	$	500	$	943
Dividends received from subsidiaries		380,000		380,000		336,000
Other income		716		793		1,700
Gross income		381,384		381,293		338,643
Operating expenses		49,926		59,372		54,333
Income before income tax benefit and equity in underdistributed earnings of subsidiaries		331,458		321,921		284,310
Income tax benefit		13,669		16,616		19,575
Income before equity in underdistributed earnings of subsidiaries		345,127		338,537		303,885
Equity in underdistributed earnings of subsidiaries		49,916		83,880		162,316
Net income	$	395,043	$	422,417	$	466,201

Condensed Statements of Cash Flows

	Years Ended December 31,
(in thousands)	2019			2018			2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	395,043		$	422,417		$	466,201
Change in other assets		386			256			10,122
Change in other liabilities		(2,608	)		(1,152	)		(36,226	)
Other, net		32,776			36,677			36,330
Equity in underdistributed earnings of subsidiaries		(49,916	)		(83,880	)		(162,316	)
Net cash provided by operating activities		375,681			374,318			314,111
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sales and repayments of securities		—			—			2,000
Change in receivable from subsidiaries, net		4,206			(1,705	)		3,089
Investment in subsidiaries		—			—			(420,000	)
Net cash provided by (used in) investing activities		4,206			(1,705	)		(414,911	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Treasury stock repurchased		(75,220	)		(163,249	)		(18,463	)
Cash dividends paid on common and preferred stock		(350,222	)		(365,889	)		(356,768	)
Proceeds from issuance of preferred stock		—			—			502,840
Proceeds from issuance of subordinated notes		—			294,607			—
Net cash (used in) provided by financing activities		(425,442	)		(234,531	)		127,609
Net (decrease) increase in cash and cash equivalents		(45,555	)		138,082			26,809
Cash and cash equivalents at beginning of year		228,618			90,536			63,727
Cash and cash equivalents at end of year	$	183,063		$	228,618		$	90,536