Flagstar Bank, N.a. · NYSE:FLG
Flagstar Bank, N.a — New York Community Bancorp — IPO Roadshow (December 2009)
20 slides from Flagstar Bank, N.a's IPO roadshow presentation, Dec 7, 2009
Slide 1: Announces the Acquisition of AmTrust Bank in an FDIC-assisted Transaction
Issuer Free Writing Prospectus filed pursuant to Rule 433 Registration No.333-152147 Announces the Acquisition of AmTrust Bank in an FDIC-assisted Transaction December 7, 2009 New York Community Bancorp, Inc. has filed a registration statement (including a prospectus) and a prospectus supplement wit
Slide 2: Forward-looking Statements and Associated Risk Factors
Forward-looking Statements and Associated Risk Factors Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995 This presentation may include forward-looking statements within the meaning of the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, an
Slide 3: NYCB has purchased certain assets and assumed certain liabilities of AmTrust Bank from the FDIC
New York Community Bancorp has purchased certain assets and assumed certain liabilities of AmTrust Bank from the FDIC. Received $11 billion of assets and assumed $11 billion of total liabilities • Approximately $6 billion of performing single-family mortgages and consumer loans, cash of approximatel
Slide 4: The acquisition of AmTrust Bank offers several benefits
The acquisition of AmTrust Bank offers several benefits. Financially Accretive to EPS and tangible book value per share attractive Exceeds management’s thresholds for IRR and EPS accretion Capital raise expected to increase TCE ratio from 6.03% to over 6.25% Fortifies strong Capital raise expected t
Slide 5: The transaction adds to our financial and operating scale and geographic scope
The transaction adds to our financial and operating scale and geographic scope. Increases branch network by 31% and extends footprint into Florida, Ohio, and Arizona Cash proceeds from transaction will be used to pay down AmTrust wholesale borrowings ($ in billions) Pro Forma Percentage NYB AmTrust
Slide 6: Transaction establishes New York Community Bancorp as a top 25 bank
Transaction establishes New York Community Bancorp as a top 25 bank. ($ in billions) Assets ($ in billions) Deposits ($ in millions) Market Cap Total Total Market Rank Company Assets Rank Company Deposits Rank Company Cap 1 Bank of America $2,251 1 Bank of America Corp. $975 1 JPMorgan Chase & Co. $
Slide 7: AmTrust contributes significantly to our deposit growth
Consistent with our previous acquisitions, AmTrust contributes significantly to our deposit growth. ($ in billions) Total Deposits w/ AmTrust w/ PFSB, Doral, & SYNF w/ ABNY w/ LICB w/ RSLN $22.5 w/ RCBK w/ HAVN $14.4 $14.5 $12.6 $13.2 $12.1 $10.3 $10.4 $5.5 $5.3 $3.3 $1.1 12/31/99 12/31/00 12/31/01
Slide 8: Strong, long-standing presence in the greater New York metropolitan area
New York Community Bancorp has a strong, long- standing presence in the greater New York metropolitan area. BRANCH LOCATIONS (212) COMMUNITY BANK COMMERCIAL BANK Queens County Savings Bank (34) New York Commercial Bank (17) Roslyn Savings Bank (56) Atlantic Bank (18) Richmond County Savings Bank (22
Slide 9: Our franchise competes effectively against the region's money center banks
The expansion of our franchise has enabled us to compete very effectively against the region’s money center banks. ($ in millions) RICHMOND COUNTY, NY NASSAU COUNTY, NY QUEENS COUNTY, NY Rank Company Branches Deposits Mkt. Share Rank Company Branches Deposits Mkt. Share Rank Company Branches Deposit
Slide 10: The AmTrust franchise provides a strong presence in new and attractive markets
The AmTrust franchise provides us with a strong presence in new and attractive markets. AmTrust Branch Map Company Profile FL OH 25 Branches $4.8 billion deposits 29 Branches $3.5 billion deposits 66 branches in three states, #13 Rank #11 Rank including 25 in Florida, 29 in northeastern Ohio, and 12
Slide 11: AmTrust has a sizeable deposit franchise in affluent, coastal Florida markets
AmTrust has a sizeable deposit franchise in affluent, coastal Florida markets. Branch Map AmTrust Deposit Market Share ($ in millions) MIAMI–FORT LAUDERDALE MSA PALM BEACH COUNTY Rank Company Branches Deposits Mkt. Share Rank Company Branches Deposits Mkt. Share 1 Wells Fargo 225 $26,036 17.0% 1 Wel
Slide 12: AmTrust ranks among the top 10 depositories in the growing Phoenix market
AmTrustranks among the top 10 depositories in the growing Phoenix market. Branch Map AmTrust Deposit Market Share ($ in millions) PHOENIX, AZ – MSA Rank Company Branches Deposits Mkt. Share 1 JPMorgan 214 $14,451 24.3% 2 Wells Fargo 189 13,661 23.0 3 Bank of America 126 12,381 20.9 4 Marshall & Ilsl
Slide 13: AmTrust has an established platform in Northeast Ohio
AmTrust has an established platform with over 100 years of operating history in Northeast Ohio. Branch Map AmTrust Deposit Market Share ($ in millions) CLEVELAND, OH Rank Company Branches Deposits Mkt. Share 1 PNC 83 $20,129 30.5% 2 KeyCorp 70 12,188 18.5 3 TFS Financial 20 5,718 8.7 4 RBS 69 5,151
Slide 14: The transaction favorably impacts our funding mix
The transaction favorably impacts our funding mix. NYB Current Liability Composition Estimated Pro Forma Liability Composition (a) Other Liabilities 1% Other Liabilities Borrowings 1% 49% Deposits 60% Borrowings 39% Deposits 50% Total liabilities: $29 billion Total liabilities: $38 billion (a) Pro f
Slide 15: Pro forma loan portfolio will consist primarily of multi-family loans and covered loans
Our pro forma loan portfolio will consist primarily of multi-family loans and loans covered under the loss-share agreement. (a) NYB Current Loan Composition Estimated Pro Forma Loan Composition Consumer Other Covered 1% 3% 1–4 Family 1–4 Family Other assets Construction 1% 1% 2% 19% 3% Consumer 0% C
Slide 16: Capital raise will fortify our already strong capital ratios
Capital raise will fortify our already strong capital ratios. ($ in billions except per share data) Expected Pro Forma for NYB Issuance of 9/30/09 60 Million Shares (a) Assets Total Assets $33 $42 Tangible Assets 30 39 Risk-Weighted Assets 21 22 Average Assets for Leverage Ratio 30 39 Capital Tangib
Slide 17: NYB's experienced management team has already begun the integration process
NYB’sexperienced management team has already begun the integration process. Senior management has communicated with all regional managers and branch managers to welcome them into the NYCB banking family All 54 branches with Saturday hours opened as planned Team of 45 senior business leaders have bee
Slide 18: Transaction Summary
Transaction Summary Immediately accretive to operating EPS and tangible book value per share Exceeds internal thresholds for IRR and EPS accretion Loss-share agreement reduces overall credit risk of loan portfolio Provides cost-effective deposits to fund loan growth and reduce the balance of wholesa
Slide 19: For More Information
ny For More Information E-mail requests to: Call Investor Relations at: Page 19
Slide 20: Reconciliation of GAAP and non-GAAP capital
Reconciliation of GAAP and non-GAAP capital Although tangible common equity and tangible assets are not measures that are calculated in accordance with U.S. generally accepted accounting principles (“GAAP”), our management uses these non-GAAP measures in its analysis of our performance. We believe t
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