Flagstar Bank, N.a. · NYSE:FLG
Flagstar Bank, N.a — New York Community Bancorp — Q4 2011 Earnings Presentation
38 slides from Flagstar Bank, N.a's earnings presentation, Feb 1, 2012
Slide 1: Fourth Quarter 2011 Investor Presentation
Exhibit 99.1 ExhibitYORK NEW NYCB BANCORP, Fourth Quarter 99.1 INC. COMMUNITY 2011 Investor Presentation
Slide 2: Safe Harbor Statement
Safe This performance statements 1995, Forward-looking “estimate,” actual There include, estate securities; ratings quality institutions; savings products any beyond agencies, our judicial, rent in capital technological terrorist For “Risk In discussions Furthermore, Readers undertake Page accountin
Slide 3: New York Community Bancorp at a glance
New Assets 21st With Deposits currently Multi-Family Market among aTotal (a) Note: Page leading total SNL largest York 3deposits Return Except return With New the Capitalization Financial Metro rank producer Community nation’s bank York assets on as Loans of 23rd New Investment otherwise investment
Slide 4: Branch network across five states
Largely Metro 123 34 New 51 28 Ohio 25 Florida 14 Arizona Page Commercial Community Community Jersey 4New New reflecting York York Bank Bank Bank Community ourBranches Branches growth-through-acquisition Branches Bancorp, Inc. strategy, we currently have 275 locations in five states.
Slide 5: 4th Quarter and Full-Year 2011 Performance Highlights
4th Quarter and Full-Year 2011 Performance Highlights
Slide 6: Our Operating Performance
OurOperating (dollars Performance 4Q GAAP Solid Earnings EPS Return stockholders’ Margin Net Continued Efficiency (a) reconciliations Page2011 interest 4Q $0.27 6Profitability Operating New on Stability: and in2011 $117,652 average thousands, ratio Efficiency: $0.27 margin full-year York Highlights
Slide 7: Our 12/31/11 Balance Sheet Highlights
Our 12/31/11 Performance Loans, Securities Deposits Core Wholesale Page deposits 7 net/ /total New /borrowings total total York Highlights: balance / total assets assets assets Community deposits sheet 52.9 /11.6 70.5% total 12/31/10 54.2 reflects 12.3 64.1 assets Bancorp, 71.1% 53.0 10.8 66.9 9/30/
Slide 8: Our Asset Quality Measures
Ouror At Ended SNL and Asset Non-performing Net (a) (c) OREO. PageNon-performing Non-annualized Thrift charge-offs asset U.S. 8for Quality: 12/31/11 New the quality Bank and York Three Thrift NYB /SNL Ended loans assets average measures Community Months loans Index U.S. (a) 12/31/11 (b)/loans /exclu
Slide 9: Our Tangible Capital Ratios
OurTangible (dollars Tangible 12/31/10 Community Leverage Tier Total (a) Page capital 19capital capital NEW instockholders’ equity 12/31/11 capital billions) ratios Bank assets ration York ration / ratio tangible are Commercial Community and 13.95 12/31/10 13.30 both 8.80% equity tangible 17.33 asse
Slide 10: A Successful Business Model
A Successful Business Model
Slide 11: Our Business Model
Our business Multi-Family loans Strong Superior Since Residential Banking $276.7 Efficient banks Growth seven Acquisitions Page 11 held acquiring “traditional” and Credit million. through New family Asset Operation thrifts for Mortgage transactions, model York Lending Standards/ investment Quality o
Slide 12: Multi-Family Loan Production
Multi-Family Loan Production
Slide 13: Leading producer of multi-family loans in New York City
For more Page 13 New thanYork 40 years, Community we haveBancorp, been a leading Inc. producer of multi-family loans on apartment buildings in New York City, most of which feature below-market rents.
Slide 14: Our Multi-family Loans
64.2% Rent-regulated Our Multi-family (a) PageSource: focus 14ofNew the on New rental loans multi-family York buildings YorkCommunity are housing City less are lending Rent costly units more Bancorp, Guidelines in tolikely onNew inproduce this rent-regulated to York Inc. niche retain Board and City
Slide 15: Multi-Family Loan Portfolio
At of (in Multi-Family 12/31/07 $17,433 $16,802 $16,736 $15,726 $14,055 Portfolio Average 4Q % Terms: Years Option the Prepayment Range Page12/31/11, millions) fixed 2011 loans total 15 1-5: 6-10: from 1New principal loan-to-value originations rate –statistics 12/31/08 loans Fixed Annually held 5pen
Slide 16: Our Commercial Real Estate Loan Portfolio
Ourof (in Commercial 12/31/07 $6,856 $5,438 $4,987 $4,551 $3,826 Portfolio Average 4Q % Terms: Years Option the Prepayment Range Pagemillions) fixed 2011 commercial loans total 16 1-5: 6-10: from 1New principal loan-to-value originations rate –statistics 12/31/08 loans Fixed Annually held 5penalties
Slide 17: Asset Quality
Asset Quality
Slide 18: Non-performing loans and assets trends
TheNon-performing Y-O-Y NPLs 12/31/10 0.98% 1.11% 1.24% 1.44% 1.38% 1.76% 2.19% 1.58% 2.23% Non-Performing (a) Page OREO. quality 18 / IMPROVEMENT Total New 3/31/11 ofLoans: York ourAssets Loans 6/30/11 assets Community loans 112(a) (b) bp has 9/30/11 exclude //NPAs Total Total improved Bancorp, 12/
Slide 19: Net charge-offs in credit cycles
We 1Q Net Last 1990 0.06% 0.91% 0.07% 1.17% 0.04% 1.50% 0.00% 1.28% Current 2008 0.35% 1.79% 0.21% 2.89% 0.13% 2.84% 0.03% 1.63% 4-Year SNL (a) NYB Pagehave Charge-Offs Credit U.S. 19 1991 2009 1995-4Q Total Credit New been Bank 1992 2010 Cycle NYB: York distinguished Cycle and 2007 1993 2011 / Aver
Slide 20: Non-performing loans in credit cycles
TheNon-performing Non-Performing Last 12/31/90 1.51% 2.35% 2.83% 3.41% 2.10% 4.05% 2.48% 4.00% Current 12/31/08 1.11%(b) 3.58% 2.23%(b) 4.41% 2.04%(b) 4.84% 0.51% 2.71% SNL (a) NYB Page quality Credit U.S. 20 Credit New 12/31/91 12/31/09 Bank Cycle ofYork our Cycle and Loans loan 12/31/92 12/31/10 C
Slide 21: Historical non-performing loans and charge-offs
Historically At Last 1990 NPLs(a) NCOs Difference (a) Pageor Non-performing Credit 21 1991 for / Average New /the Total 1992 248 Cycle and 12 York bp Loans Months currently, 1993 Loans Current 206 Community loans 2008 2.48% bp 0.00% Ended 276 are Credit few 2009 2.10% defined bp 0.04% of December Ba
Slide 22: Conservative underwriting
The CONSERVATIVE Conservative ACTIVE A MULTIPLE million. All RISK-AVERSE Multi-family: Commercial Page member loans properties independent quality 22 New originated BOARD ofof APPRAISALS and the loan-to-value debt York 68.3% are our MIX appraisals Industrial: Mortgage appraised assets coverage UNDER
Slide 23: Covered loans and FDIC-assisted assets
All millions) (in Percent Covered Other OREO 1-4 Total Pagethe Family 23 covered Loans $62.4 $71.4 loans of New Assets total $4,347.2 $3,874.6 $3,366.4 $309.7 $423.3 $386.6 acquired York assets: assets: 12/31/09 12/31/10 12/31/11 Community $4.7 $4.4 $3.8 in 11.1% our billion FDIC-assisted Bancorp, P
Slide 24: Residential Mortgage Banking
Residential Mortgage Banking
Slide 25: Residential mortgage banking and loan production
(in millions) Funded 1Q $2,724.4 $1,786.4 $1,139.2 $1,482.7 Statistics New banking Loan Features: Our As 950 100% Loans Pagea2011 approved residential proprietary result, 1-4 25 production of can 1-4 New income loans 2Q family atbeour Family or 2011 originated/purchased York clients for funded mortg
Slide 26: Efficiency
Efficiency
Slide 27: Our Efficiency Ratio
Ourof Efficiency 2009 40.67% 66.06% 35.88% 58.79% 36.16% 56.77% SNL Franchise NYB(a) Multi-family Products 42 We (a) PagePlease acquire efficiency U.S. 27 2010 ourNew and branches Bank expansion see Ratio 2011 our and services York page isdeposits and driven commercial are Community 36 Thrift has ar
Slide 28: Growth through Acquisitions
Growth through Acquisitions
Slide 29: Acquisitions completed since 2000
WeApril 1. Haven 2. Richmond 3. Roslyn 4. Long (LICB) 5. Atlantic 6. PennFed (PFSB) 7. NYC (Doral-NYC) 8. Synergy 9. AmTrust 10. Desert Assets: Deposits: Branches: Transaction Savings Commercial Note: FDIC Branch Page Nov. July Oct. Dec. March have 29 Island branch The Bancorp Hills 2001 2007 2003 B
Slide 30: Our deposit growth
Our (in NOW, CDs C $40 Deposits $171 $455 $2,408 $4,362 $5,278 $720 $5,247 $6,015 $906 $5,945 $5,554 $1,195 & $6,913 $4,975 $1,348 w/ $9,054 $11,494 $1,768 12/31/99 $7,373 $12,711 $2,190 $7,835 $12,122 $1,852 Total Page A SYNF ABNY AmTrust HAVN RCBK RSLN LICB PFSB, Desert millions) $658 G deposit 30
Slide 31: Acquisitions and loan growth
Acquisitions (in Held-For-Investment Multi-Family All Covered C Multi-family Loans $167 $1,366 $1,946 $1,584 $3,255 $1,686 $7,368 $12,854 $2,888 $1,287 $14,529 $3,114 $2,010 $14,055 $3,826 $2,482 $5,016 After $16,736 $1,207 $4,298 $1,037 $3,753 $16,802 $5,438 12/31/99 $17,433 $6,856 Total (a) Page A
Slide 32: Total Return on Investment
Total Return on Investment
Slide 33: Our Total Return on Investment
OurBloomberg Total SNL CAGR 2,059% 213% 2,885% 444% 2,479% 614% 717% 244% 11/23/93 2,670% 168% 3,843% 245% 2,754% 209% 28.8% As (a) Pageaquarterly result U.S. 33 Return since New 12/31/99 Bank ofon IPO: York nine cash and Investment 12/31/06 stock dividends Community Thrift splits Index 12/31/07 are
Slide 34: For More Information
For More Visit E-mail Call Investor Write 615 Westbury, Page 2/1/12 Merrick Investor our 34 to: requests New Relations web New Information NYAvenue Relations York site: York 11590 to:ir.myNYCB.com Community ir@myNYCB.com Community at:(516) Bancorp, 683-4420 Bancorp,Inc. Inc.
Slide 35: Reconciliation of GAAP and Operating Earnings
Reconciliation For (in GAAP Income Diluted Adjustments Severance Gain Loss Operating Pagethousands, the on 35Earnings Three tax GAAP other-than-temporary sales business New earnings charges effect to York of Months except of Earnings GAAP diluted securities $117,652 disposition GAAP 461 — Community
Slide 36: Reconciliations of Efficiency Ratios
Reconciliations The 2011 For December (dollars Total Gain Net Loss Operating FDIC Adjustments: Acquisition-related Severance Adjusted Efficiency Pagethe gain following on 36 and net special Three in other-than-temporary debt business termination New on interest total operating for expenses thousands
Slide 37: Reconciliations of Capital Measures
Reconciliations at December (dollars Total Less: Core Stockholders’ Tangible Accumulated Adjusted Page December deposit 37 stockholders’ assets Goodwill(2,436,131)(2,436,159) in New and stockholders’ assets tangible thousands) 31, $42,024,302 31, intangibles(51,668)(77,734) adjusted York other equit
Slide 38: Reconciliation of Return on Average Assets and Equity
Reconciliation and For (dollars Less: Average Net Add Adjusted Return Operating Pagethe twelve Income back: 38 Average on Three in New Assets Stockholders’ tangible net operating average Income return Amortization thousands) months $117,652 income York Months goodwill of $41,683,129 on stockholders’
New York Community Bancorp — Q4 2011 Earnings Presentation on 6ix