Flagstar Bank, N.a. · NYSE:FLG
Flagstar Bank, N.a — New York Community Bancorp — Q1 2010 Earnings Presentation
36 slides from Flagstar Bank, N.a's earnings presentation, Apr 30, 2010
Slide 1: First Quarter 2010 Investor Presentation
First Quarter 2010 Investor Presentation Exhibit 99.1
Slide 2: Forward-looking Statements and Associated Risk Factors
New York Community Bancorp, Inc. Page 2 Forward-looking Statements and Associated Risk Factors This presentation, like many written and oral communications presented by New York Community Bancorp, Inc. and our authorized officers, may contain certain forward-looking statements regarding our prospect
Slide 3: We rank among the nation's leading financial institutions
New York Community Bancorp, Inc. Page 3 We rank among the nation’s leading financial institutions. (a) SNL Financial as of 4/27/10 With assets of $42.4 billion at 3/31/10, we are the 22nd largest bank holding company in the nation. (a) With deposits of $22.7 billion at 3/31/10 and 282 branches in Ne
Slide 4: We have a consistent business model that focuses on building value
New York Community Bancorp, Inc. Page 4 We have a consistent business model that focuses on building value while building the Company. Our total return to shareholders increased at a CAGR of 33.9% from 11/23/93 to 3/31/10. Multi-family Lending Strong Credit Standards/ Superior Asset Quality Efficien
Slide 5: 1st Quarter 2010 Performance Highlights
1st Quarter 2010 Performance Highlights
Slide 6: Our 1Q 2010 performance reflects the merits of our business model
New York Community Bancorp, Inc. Page 6 Our 1Q 2010 performance reflects the merits of our business model. (a) Please see page 34 for a reconciliation of our GAAP and operating earnings. (b) Please see page 32 for a reconciliation of our GAAP and operating efficiency ratios. (dollars in thousands, e
Slide 7: Our balance sheet was also enhanced in 4Q 2009 and 1Q 10
New York Community Bancorp, Inc. Page 7 Our balance sheet was also enhanced in 4Q 2009 and 1Q 2010.
Slide 8: Our asset quality measures continued to compare favorably with our industry
New York Community Bancorp, Inc. Page 8 Our asset quality measures continued to compare favorably with those of our industry as a whole . (a) SNL Financial as of 4/27/10 (b) Non-performing loans are defined as non-accrual loans and loans 90 days or more past due but still accruing interest. (c) Non-
Slide 9: Our capital strength reflects the growth of our earnings
New York Community Bancorp, Inc. Page 9 Our capital strength reflects the growth of our earnings and our ability to access the capital markets. Our dividend has been a significant component of our total return to shareholders since our first year of public life. In April 2010, we declared our 25th c
Slide 10: Our Business Model: Growth through Acquisitions
Our Business Model: Growth through Acquisitions
Slide 11: We have completed acquisitions since 2000
New York Community Bancorp, Inc. Page 11 We have completed 10 acquisitions since 2000. Note: The number of branches shown reflects the number of branches in our franchise that stemmed from each transaction. Transaction Type: Savings Bank Commercial Bank Branch FDIC
Slide 12: We now rank among the top 25 financial institutions in the nation
New York Community Bancorp, Inc. Page 12 As a result of our acquisitions, we now rank among the top 25 financial institutions in the nation. DEPOSITS ASSETS MARKET CAPITALIZATION (in thousands) Rank Company Total Deposits Bank of America Corporation $976,102,000 JPMorgan Chase & Co. 925,303,000 Citi
Slide 13: New York Community Bancorp franchise brands
Naw York Conentry Bacore.INc. New YORK ‘Naw York Ry 3 COMMUNITY BANK COMMERCIAL BANK Deer”, EIROSLYN. eee ROOSEVELT So ATLANTIC BANK Bicommuniry Bank = AMIRUST BANK’ Onto Savincs BANK
Slide 14: Community bank brands
JUEENS COUNTY (| "AVINGS BANK ROSLYN : RICHMOND COUNTY SAVINGS BANK ROQSEVERT | Bicommuniry Bank = AMIRUST BANK’ Onto Savincs BANK
Slide 15: FDIC-assisted transactions have enhanced our franchise
New York Community Bancorp, Inc. Page 14 FDIC-assisted transactions have enhanced our franchise, our balance sheet, and our earnings capacity. AmTrust Bank Desert Hills Bank Franchise Expansion: Added 29 branches in Ohio, 25 in Florida, and 12 in Arizona Added six more branches to our franchise in A
Slide 16: Our deposit growth has been largely acquisition-driven
New York Community Bancorp, Inc. Page 15 Deposits Our deposit growth has been largely acquisition- driven. Total deposits: 34.5% CAGR Core deposits: 40.1% CAGR Demand deposits: 44.2% CAGR (in millions) CDs NOW, MMAs, and Savings Demand deposits Total Deposits: $12,168 $12,694 $13,236 $14,376 $22,316
Slide 17: Loans Outstanding
New York Community Bancorp, Inc. Page 16 Loans Outstanding While acquisitions have contributed to the growth of our loan portfolio, the bulk of our loan growth has been organic. (in millions) Non-Covered Loan Portfolio Multi-family CRE All Other Loans Covered Loan Portfolio Multi-family loans: 27.9%
Slide 18: Our Business Model: Multi-family Loan Production
Our Business Model: Multi-family Loan Production
Slide 19: Multi-family Loan Portfolio
New York Community Bancorp, Inc. Page 18 Multi-family Loan Portfolio Multi-family loans have grown at a CAGR of 27.9% since 12/31/99. (in millions)
Slide 20: Commercial Real Estate Loan Portfolio
New York Community Bancorp, Inc. Page 19 Commercial Real Estate Loan Portfolio Our commercial real estate loans feature the same structure as our multi-family loans. (in millions)
Slide 21: Loans acquired are covered by FDIC loss sharing agreements
New York Community Bancorp, Inc. Page 20 All of the loans acquired in the AmTrust and Desert Hills acquisitions are covered by loss sharing agreements with the FDIC. Covered Loans 3/31/10 (in millions) Total covered loans: $4.8 billion 1-4 Family $4,269.0 Other Loans $490.1
Slide 22: Our Business Model: Asset Quality
Our Business Model: Asset Quality
Slide 23: We have been distinguished by our low level of net charge-offs
New York Community Bancorp, Inc. Page 22 Both historically and currently, we have been distinguished by our low level of net charge-offs. Net Charge-offs / Average Loans NYB SNL Bank and Thrift Index (a) (a) SNL Financial as of 4/27/10 NYB Net Charge-offs: $22,000 $222,000 $458,000 $6.1 million $431
Slide 24: Our loan portfolio quality continues to exceed that of our industry
New York Community Bancorp, Inc. Page 23 The quality of our loan portfolio continues to exceed that of our industry as it has in the past. Non-performing Loans / Total Loans (a) (a) Non-performing loans are defined as non-accrual loans and loans 90 days or more past due but still accruing interest.
Slide 25: Net Charge-offs / Average Loan Loss Allowance
New York Community Bancorp, Inc. Page 24 Net Charge-offs / Average Loan Loss Allowance As in the past, our charge-offs represent a smaller percentage of our loan loss allowance compared to our industry peers. (a) SNL Financial as of 4/27/10 NYB SNL Bank and Thrift Index (a) Last Credit Cycle Current
Slide 26: Few of our non-performing loans have resulted in charge-offs
New York Community Bancorp, Inc. Page 25 Historically and currently, few of our non-performing loans have resulted in charge-offs. At or for the 12 Months Ended December 31, At or for the 3 Months Ended Last Credit Cycle Current Credit Cycle 1990 1991 1992 2007 2008 2009 3/31/2010 NPLs / Total Loans
Slide 27: Asset quality reflects our multi-family lending niche and underwriting
New York Community Bancorp, Inc. Page 26 The quality of our assets reflects the nature of our multi-family lending niche and our strong underwriting standards.
Slide 28: Our Business Model: Efficiency
Our Business Model: Efficiency
Slide 29: Our operating efficiency ratio was 36.05% in 1Q 2010
New York Community Bancorp, Inc. Page 28 Our operating efficiency ratio was 36.05% (a) in 1Q 2010, well below the SNL Bank and Thrift Index efficiency ratio of 55.74%. (b) (a) Please see pages 32 and 33 for a reconciliation of our GAAP and operating efficiency ratios. (b) SNL Financial as of 4/27/10
Slide 30: Total Return on Investment
Total Return on Investment
Slide 31: We are committed to building value for our investors
New York Community Bancorp, Inc. Page 30 Total Return on Investment We are committed to building value for our investors. (a) SNL Financial (b) Bloomberg As a result of nine stock splits in a span of 10 years, our charter shareholders have 2,700 shares of NYB stock for each 100 shares originally pur
Slide 32: For More Information
New York Community Bancorp, Inc. Page 31 For More Information 4/30/2010
Slide 33: Reconciliation of GAAP and Operating Efficiency Ratios
New York Community Bancorp, Inc. Page 32 Reconciliation of GAAP and Operating Efficiency Ratios For the Three Months Ended March 31, 2010 December 31, 2009 March 31, 2009 (dollars in thousands) GAAP Operating GAAP Operating GAAP Operating Total net interest income and non-interest income $349,959 $3
Slide 34: Reconciliation of GAAP and Operating Efficiency Ratios
New York Community Bancorp, Inc. Page 33 Reconciliation of GAAP and Operating Efficiency Ratios The following table presents reconciliations of the Company’s GAAP and operating efficiency ratios for the years ended December 31, 2005, 2006, 2007, 2008, and 2009. For the Years Ended December 31, 2009
Slide 35: Reconciliation of GAAP and Operating Earnings
New York Community Bancorp, Inc. Page 34 Reconciliation of GAAP and Operating Earnings The following table presents reconciliations of the Company’s GAAP and operating earnings for the three months ended March 31, 2010, December 31, 2009, and March 31, 2009: For the Three Months Ended March 31, Dece
Slide 36: Reconciliation of GAAP and Non-GAAP Capital Measures
New York Community Bancorp, Inc. Page 35 Reconciliation of GAAP and Non-GAAP Capital Measures March 31, December 31, March 31, (dollars in thousands) 2010 2009 2009 Total stockholders’ equity $ 5,421,285 $ 5,366,902 $ 4,235,886 Less: Goodwill (2,436,401) (2,436,401) (2,436,401) Core deposit intangib
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