Flagstar Bank, N.a. · NYSE:FLG
Flagstar Bank, N.a — New York Community Bancorp — Bear Stearns SMid Cap Investor Conference 2005
28 slides from Flagstar Bank, N.a's conference presentation, Nov 7, 2005
Slide 1: Investor Presentation – Bear Stearns SMid Cap Investor Conference
Exhibit 99.1 Investor Presentation Bear Stearns SMid Cap Investor Conference November 7, 2005
Slide 2: Forward-looking Statements and Associated Risk Factors
Forward-looking Statements and Associated Risk Factors This presentation, like other written and oral communications presented by the Company and its authorized officers, may contain certain forward-looking statements regarding the Company’ s prospective performance and strategies within the meaning
Slide 3: Additional Disclosure
Additional Disclosure Note: The following notice is included to meet certain legal requirements New York Community Bancorp, Inc. has filed a registration statement with the Securities and Exchange Commission (the “SEC”) containing a proxy statement/prospectus and other documents regarding its propos
Slide 4: We are a leading financial institution in the NY Metro region
We are a leading financial institution in the NY Metro region. The fifth largest thrift in the nation, with total assets of $25.0 billion at 9/30/05 (a) The leading producer of multi-family loans in New York City, with a portfolio of $12.0 billion at 9/30/05 (a) The third largest thrift depository i
Slide 5: We are focused on producing a solid financial performance
We are focused on producing a solid financial performance. 2005 Goals: Achievements Year-to-Date: Increasing our share of the multi- Multi-family loans are up 22% family lending market Complementing our asset mix with CRE and construction loans are up 19% CRE and construction loans Maintaining the q
Slide 6: Increasing Our Share of the Multi-family Lending Market
Increasing Our Share of the Multi-family Lending Market Multi-family loans have grown 22% YTD and 30% year-over-year. (in millions) Multi-family Loan Portfolio At 9/30/05 % of total loans: 75.6% $11,994 $9,842 Average principal balance: $3.5 million $7,368 Average loan-to-value: 60.1% $4,494 $3,255
Slide 7: Complementing Our Asset Mix with CRE Loans
Complementing Our Asset Mix with CRE Loans CRE loans have grown 22% YTD and 37% year-over-year. (in millions) Commercial Real Estate Loan Portfolio At 9/30/05 % of total loans: 16.5% $2,611 $2,141 Average principal balance: $2.7 million $1,445 Average loan-to-value: 58.2% Expected weighted average l
Slide 8: Complementing Our Asset Mix with Construction Loans
Complementing Our Asset Mix with Construction Loans Construction loans have grown 12% YTD and 18% year-over-year. (in millions) Construction Loan Portfolio At 9/30/05 $900 % of total loans: 5.7% $804 Average principal balance: $3.4 million $644 Average loan-to-value: 40.2% Term: Typically 18-24 mont
Slide 9: Maintaining the Quality of Our Assets
Maintaining the Quality of Our Assets We have a consistent record of solid asset quality. NPAs/Total Assets 0.61% 0.54% 0.43% 0.44% 0.34% 0.30% 0.24% 0.15% 0.15% 0.16% 0.14% 0.12% 12/31/02 12/31/03 12/31/04 9/30/05 U.S. Thrifts (a) N.Y. State Thrifts (a) NYB (a) SNL DataSource 9
Slide 10: Maintaining Our Efficiency
Maintaining Our Efficiency We consistently rank among the most efficient thrifts in the nation. Efficiency Ratio 63.06% 64.64% 64.16% 61.79% 57.68% 57.26% 58.53% 56.93% 27.90% 25.32% 23.59% (a) (a) 21.46% 2002 2003 2004 9 Mos. 2005 U.S. Thrifts (b) N.Y. State Thrifts (b) NYB (a) Operating efficiency
Slide 11: Strengthening Our Balance Sheet
Strengthening Our Balance Sheet We have significantly enhanced our asset and liability mix since repositioning the balance sheet in 2Q 2004. (dollars in billions) 9/30/05 3/31/04 % Change Total loans $15.9 $10.9 45.2% Multi-family loans 12.0 7.8 53.9 Total securities 5.6 12.1 53.4 Total deposits 11.
Slide 12: Maintaining Our Capital Strength
Maintaining Our Capital Strength We are a well capitalized institution. 9/30/05 Company Capital Measures: Tangible stockholders’ equity $1.2 bn Tangible equity/tangible assets 5.37% Tangible equity/tangible assets, excluding net unrealized losses on securities 5.58 Bank Capital Measures: Leverage ra
Slide 13: Reducing Securities
Reducing Securities We are deploying the cash flows from securities into loan production. (in millions) $15,856 $12,571 $12,119 $10,919 Loans Securities $7,518 $5,650 % of Total Assets: 41.2% 45.7% 53.2% 31.8% 63.4% 22.6% 3/31/04 9/30/04 9/30/05 13
Slide 14: Increasing Deposits
Increasing Deposits We are increasing the significance of deposits within our funding mix. (in millions) $11,869 $11,135 $10,027 $10,202 $9,152 $9,449 Deposits Wholesale Borrowings 3/31/04 9/30/04 9/30/05 14
Slide 15: Increasing Deposits: commercial banking platform
Increasing Deposits We are establishing a commercial banking platform to complement our traditional community banking platform. New York Community Bancorp, Inc. New York Community Bank New York Commercial Bank Checking/Savings Checking/Savings Money Market Accounts Business CDs CDs Payroll Processin
Slide 16: Consumer deposit growth initiatives
Increasing Deposits We have implemented a series of consumer deposit growth initiatives over the past nine months. Created The Premier Banking Group in 1Q 2005 to attract personal deposits from large relationship borrowers Established a nationwide on-line banking service, MyBankingDirect.com, in 2Q
Slide 17: Commercial deposit growth initiatives
Increasing Deposits We also have launched several initiatives to generate commercial deposit growth. Created The Premier Banking Group to attract business deposits from large relationship borrowers Established a Business Development District Branch in Queens to gather NY State and City deposits Esta
Slide 18: Expanding Through M&A: two commercial bank acquisitions
Expanding Through M&A Since 8/1/05, we have announced acquisitions of two full-service commercial banks. LICB ABNY (a) (in millions) 6/30/05 6/30/05 Assets $540 $2,634 Total loans 250 1,324 Total securities 256 1,094 Total deposits 416 1,461 Core deposits 338 1,120 Demand deposits 112 351 (a) Exclud
Slide 19: Expanding Through M&A: acquisition benefits
Expanding Through M&A The LICB and ABNY acquisitions will enhance our earnings, our asset mix, and our deposit growth. LICB ABNY Immediately accretive to GAAP and cash earnings Enhances our asset mix with C&I loans to small and mid-size businesses Cash flows from securities will fund loan production
Slide 20: Acquisitions have contributed to loan growth
Expanding Through M&A Acquisitions have contributed to our loan growth over the past five years… (in millions) Loans Outstanding (a) w/ LICB & ABNY $5,005 $3,734 Multi-family loans: 49.4% CAGR Total loans: 53.9% CAGR $3,557 w/ RSLN $12,254 $11,950 Multi-family Loans Outstanding All Other Loans Outst
Slide 21: Acquisitions have bolstered deposit growth
Expanding Through M&A …and have significantly bolstered our deposit growth. w/ LICB & ABNY (in millions) Deposits $1,207 $748 w/ RSLN $720 $739 Total deposits: 58.2% CAGR Core deposits: 74.2% CAGR Demand deposits: 85.8% CAGR $7,647 $6,619 $5,247 CDs $5,911 w/ RCBK NOW, MMAs, and Savings $455 $465 De
Slide 22: Acquisitions will accelerate balance sheet repositioning
Expanding Through M&A The LICB and ABNY acquisitions will accelerate our balance sheet repositioning. (dollars in millions) Assets Core Deposits (c) $27,000 $8,824 Commercial $25,205 7% Banking Commercial Business 17% Banking $7,366 Business 93% 83% $2,634 $1,120 $540 $338 (a) (b) (a) NYB LICB ABNY
Slide 23: Acquisitions will expand our footprint in the NY Metro region
Expanding Through M&A The acquisitions will expand our footprint in the NY Metro region. (a) NYB ABNY LICB Pro Forma Locations 170 branches 219 ATMs (a) Pro forma for the LICB and ABNY acquisitions 23
Slide 24: Acquisitions will augment our market share
Expanding Through M&A The acquisitions will augment our market share. (a) (b) (dollars in millions) Manhattan Queens Westchester Rank Institution Branches Deposits Market Share Rank Institution Branches Deposits Market Share Rank Institution Branches Deposits Market Share 1 JPMorgan Chase 92 $140,01
Slide 25: We will operate two bank subsidiaries
Expanding Through M&A We will operate two bank subsidiaries – New York Community Bank and New York Commercial Bank. New York Community Bancorp, Inc. New York Community Bank New York Commercial Bank Queens County Richmond County Roslyn Long Island Savings Bank Savings Bank Savings Bank Commercial Ban
Slide 26: Maintaining a Strong Dividend
Maintaining a Strong Dividend We are committed to maintaining a strong dividend. Annual Dividend (a) $1.00 $0.96 $0.66 $0.43 $0.30 $0.25 2000 2001 2002 2003 2004 2005 (a) Reflects nine increases in the quarterly cash dividend, as well as 3-for- 2 stock splits on 3/29/01 and 9/20/01 and 4-for-3 stock
Slide 27: For More Information
For More Information The Company trades on the NYSE under the symbol “NYB”. Log onto our web site: www.myNYCB.com E-mail requests to: ir@myNYCB.com Call Investor Relations at: (516) 683-4420 Write to: New York Community Bancorp, Inc. 615 Merrick Avenue Westbury, NY 11590 27
Slide 28: Reconciliation of GAAP and Operating Earnings
Reconciliation of GAAP and Operating Earnings The following table presents a reconciliation of the Company’s GAAP and operating earnings for the twelve months ended December 31, 2003 and 2004. For the Years Ended December 31, (in thousands, except per share data) 2004 2003 Net income $355,086 $323,3
New York Community Bancorp — Bear Stearns SMid Cap Investor Conference 2005 on 6ix