8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 30, 2020

NEW YORK COMMUNITY BANCORP, INC.

(Exact name of registrant as specified in its charter)

Delaware	1-31565	06-1377322
(State or other jurisdiction of incorporation or organization)	Commission File Number	(I.R.S. Employer Identification No.)

615 Merrick Avenue, Westbury, New York 11590

(Address of principal executive offices)

(516) 683-4100

(Registrant’s telephone number, including area code)

Not applicable

(Former name or former address, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading symbol(s)	Name of each exchange on which registered
Common Stock, $0.01 par value per share	NYCB	New York Stock Exchange
Bifurcated Option Note Unit SecuritiES SM	NYCB PU	New York Stock Exchange
Fixed-to-Floating Rate Series A Noncumulative Perpetual Preferred Stock, $0.01 par value	NYCB PA	New York Stock Exchange

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (Section 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (Section 240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

CURRENT REPORT ON FORM 8-K

Item 7.01	Regulation FD Disclosure
	On November 30, 2020, New York Community Bancorp, Inc. (the “Company”) provided an update on its loan deferral trends under the CARES Act by means of this Form 8-K. As of November 23, 2020, total full payment deferrals declined significantly, dropping 96% to $259 million or 0.60% of total loans compared to $6.1 billion or 14.4% of total loans at June 30, 2020. Of the $2.9 billion of loans scheduled to come off deferral during November, 99.4% have returned to payment status as of November 23rd. This comes in addition to 99.8% of October deferrals returning to payment status. As of November 23, 2020, 96% of multi-family and commercial real estate full payment deferrals have returned to payment status. Multi-family and commercial real estate full payment deferrals improved significantly, as they decreased to $252 million or 0.65% of outstanding multi-family and commercial real estate loan balances compared to $5.9 billion or 15.5% of outstanding multi-family and commercial real estate loan balances at June 30, 2020. Furthermore, at November 23, 2020, multi-family deferrals declined to $235 million or 0.73% of multi-family loans compared to $3.7 billion or 11.7% of multi-family loans at June 30, 2020; office deferrals declined to zero compared to $1.2 billion or 33.4% of total office loans; retail deferrals declined to $10.8 million or 0.63% of retail loans compared to $481.5 million or 27.9% of total retail loans; and mixed use deferrals decreased to $1.4 million or 0.20% of mixed use loans compared to $335 million or 47% of total mixed use loans at June 30, 2020. The remaining $252 million of multi-family and commercial real estate full payment deferrals are scheduled to come off of deferral over the next three months, with two thirds eligible to come off deferral in December. Beginning on November 30, 2020, the Company intends to distribute and make available to investors, and to post on its website, the written presentation attached hereto as Exhibit 99.1 relating to its loan deferral trends under the CARES Act. The information contained or incorporated by reference in this Item 7.01, including the written presentation materials attached hereto as Exhibit 99.1, is being furnished and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (‘the “Exchange Act”), or otherwise subject to the liability of such section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of the general incorporation language of such filing, except as shall be expressly set forth by specific reference in such filing.
Item 9.01	Financial Statements and Exhibits
(d)	Attached as Exhibit 99.1 is the text of a written presentation that the Company intends to distribute and make available to investors, and to post on its website, beginning on November 30, 2020.

EXHIBIT INDEX

Exhibit Number	Description
Exhibit 99.1	Written presentation to be distributed and made available to investors, and posted on the Company’s website, beginning on November 30, 2020.
Exhibit 104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: November 30, 2020	NEW YORK COMMUNITY BANCORP, INC.
	/s/ Salvatore J. DiMartino
	Salvatore J. DiMartino
	Managing Director
	Director, Investor Relations and Strategic Planning

EX-99.1

Loan Deferrals Update November 30, 2020 Exhibit 99.1

Forward-Looking Information This presentation may include forward‐looking statements by the Company and our authorized officers pertaining to such matters as our goals, intentions, and expectations regarding revenues, earnings, loan production, asset quality, capital levels, and acquisitions, among other matters; our estimates of future costs and benefits of the actions we may take; our assessments of probable losses on loans; our assessments of interest rate and other market risks; and our ability to achieve our financial and other strategic goals. Forward‐looking statements are typically identified by such words as “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “should,” and other similar words and expressions, and are subject to numerous assumptions, risks, and uncertainties, which change over time. Additionally, forward‐looking statements speak only as of the date they are made; the Company does not assume any duty, and does not undertake, to update our forward‐looking statements. Furthermore, because forward‐looking statements are subject to assumptions and uncertainties, actual results or future events could differ, possibly materially, from those anticipated in our statements, and our future performance could differ materially from our historical results.   Our forward‐looking statements are subject to the following principal risks and uncertainties: the effect of the COVID-19 pandemic, including the length of time that the pandemic continues, the potential imposition of future shelter in place orders or additional restrictions on travel in the future, the effect of the pandemic on the general economy and on the businesses of our borrowers and their ability to make payments on their obligation, the remedial actions and stimulus measures adopted by federal, state, and local governments; the inability of employees to work due to illness, quarantine, or government mandates; general economic conditions and trends, either nationally or locally; conditions in the securities markets; changes in interest rates; changes in deposit flows, and in the demand for deposit, loan, and investment products and other financial services; changes in real estate values; changes in the quality or composition of our loan or investment portfolios; changes in competitive pressures among financial institutions or from non‐financial institutions; our ability to obtain the necessary shareholder and regulatory approvals of any acquisitions we may propose; our ability to successfully integrate any assets, liabilities, customers, systems, and management personnel we may acquire into our operations, and our ability to realize related revenue synergies and cost savings within expected time frames; changes in legislation, regulations, and policies; the impact of recently adopted accounting pronouncements; and a variety of other matters which, by their nature, are subject to significant uncertainties and/or are beyond our control. More information regarding some of these factors is provided in the Risk Factors section of our Form 10‐K for the year ended December 31, 2019 and in other SEC reports we file. Our forward‐looking statements may also be subject to other risks and uncertainties, including those we may discuss in this presentation, or in our SEC filings, which are accessible on our website and at the SEC’s website, www.sec.gov. Our Supplemental Use of Non-GAAP Financial Measures This presentation may contain certain non-GAAP financial measures which management believes to be useful to investors in understanding the Company’s performance and financial condition, and in comparing our performance and financial condition with those of other banks. Such non-GAAP financial measures are supplemental to, and are not to be considered in isolation or as a substitute for, measures calculated in accordance with GAAP. Cautionary Statements

MF & CRE Full Payment Deferrals (in millions) % of Total MF & CRE Portfolios 15.5% 14.9% 8.0% 0.65% Significant progress made on MF & CRE loan deferrals since June 30th.

Overwhelming Majority of Loan Deferrals Have Returned to Payment Status.

Since June 30th, MF & CRE deferrals have declined 96% to 65 basis points of outstanding balances. Total MF & CRE loan deferrals declined 96% to $252 million or 0.65% of total outstanding balances as of November 23rd compared to $5.9 billion or 15.5% at June 30th. Of the $2.9 billion of loans scheduled to come off deferral during November, 99.4% have returned to payment status. Of the $3.1 billion of loans scheduled to come off deferral during October, 99.8% have returned to payment status. Multi-family deferrals declined to $235 million or 73 basis points of total outstanding balances compared to $3.7 billion or 12% at June 30th. Overall, CRE loan deferrals declined to $16 million or 24 basis points of outstanding balances compared to $2.3 billion or 33% as of June 30th. Office loan deferrals declined to zero compared to $1.2 billion or 33% at June 30th. Retail loan deferrals declined to $11 million compared to $482 million or 28% at June 30th. Mixed use loan deferrals declined to $1.4 million or 20 basis points of outstanding balances compared to $335 million or 47% at June 30th. The remaining $259 million of loans are scheduled to come off deferral over the next three months, with two thirds eligible to come off deferral in December. As of November 23, 2020 Outstanding Deferrals as a ($ in millions) Deferral Balance* % of O/B WA LTV Multi-family $235.25886499999999 $32,029.104871219999 7.3451589092454993E-3 0.61885074858114286 CRE: Office 0 3,426.7571085699992 0 N/A Retail 10.846118000000001 1,718.5212889300003 6.311308489377573E-3 0.51050416644923102 Mixed Use 1.4308289999999999 701.01000858999987 2.0410963930143394E-3 0.58434471337944638 Condo/Co-op 2.7035429999999998 264.44389276999999 1.0223503260676191E-2 0.4224 Industrial 1.2339690000000001 298.11048362000002 4.1393009229857688E-3 0.4264 Other 0 475.96888535999994 0 N/A Sub-total CRE 16.214458999999998 6,884.8116678400002 2.3551056706082748E-3 0.49592938842424528 Total MF & CRE $251.47332399999999 $38,913.916539059996 6.4622979737231703E-3 0.61092504368813294 Other 7.5073204500987458 Total $258.98064445009874 *Outstanding Balance excludes deferred fees and mark to market adjustments Note: Outstanding Balances are as of 9/30/20.

XML

Document and Entity Information	Nov. 30, 2020
Document And Entity Information [Line Items]
Entity Registrant Name	NEW YORK COMMUNITY BANCORP INC
Amendment Flag	false
Entity Central Index Key	0000910073
Document Type	8-K
Document Period End Date	Nov. 30, 2020
Entity Incorporation State Country Code	DE
Entity File Number	1-31565
Entity Tax Identification Number	06-1377322
Entity Address, Address Line One	615 Merrick Avenue
Entity Address, City or Town	Westbury
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	11590
City Area Code	(516)
Local Phone Number	683-4100
Written Communications	false
Soliciting Material	false
Pre Commencement Tender Offer	false
Pre Commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Common Stock [Member]
Document And Entity Information [Line Items]
Security 12b Title	Common Stock, $0.01 par value per share
Trading Symbol	NYCB
Security Exchange Name	NYSE
Bifurcated Option Note Unit Securities [Member]
Document And Entity Information [Line Items]
Security 12b Title	Bifurcated Option Note Unit SecuritiES SM
Trading Symbol	NYCB PU
Security Exchange Name	NYSE
Fixed To Floating Rate Series A Noncumulative Perpetual Preferred Stock [Member]
Document And Entity Information [Line Items]
Security 12b Title	Fixed-to-Floating Rate Series A Noncumulative Perpetual Preferred Stock, $0.01 par value
Trading Symbol	NYCB PA
Security Exchange Name	NYSE