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NV NEW YORK COMMUNITY B BANCORP . INC . NEWS RELEASE 615 Merrick Avenue , Westbury , NY 11590 Phone : ( 516 ) 683-4420⚫www.myNYCB.com FOR IMMEDIATE RELEASE Investor / Media Contact : Salvatore J. DiMartino ( 516 ) 683-4286 NEW YORK COMMUNITY BANCORP , INC . REPORTS FIRST QUARTER 2021 DILUTED EPS OF $ 0.29 DRIVEN BY ONGOING NIM EXPANSION , GOOD LOAN GROWTH , LOWER OPERATING EXPENSES , STRONG DEPOSIT GROWTH , AND STRONG ASSET QUALITY TRENDS THE COMPANY ALSO ANNOUNCED TODAY IN A SEPARATE RELEASE THAT IT HAS ENTERED INTO A DEFINITIVE MERGER AGREEMENT TO ACQUIRE FLAGSTAR BANCORP , INC . IN AN ALL STOCK MERGER THAT IS EXPECTED TO ACCELERATE ITS TRANSFORMATION STRATEGY THROUGH GEOGRAPHIC AND PRODUCT DIVERSIFICATION TRANSACTION EXPECTED TO BE IMMEDIATELY ACCRETIVE TO 2022 ESTIMATED EPS AND TANGIBLE BOOK VALUE PER SHARE BOARD OF DIRECTORS DECLARES A $ 0.17 DIVIDEND PER COMMON SHARE First Quarter 2021 Summary • Substantial Increase in Year - over - Year Earnings and Operating Performance : Diluted EPS of $ 0.29 increased 45 % . - Net income available to common shareholders was $ 137.4 million , up 49 % or $ 45.3 million . Pre - provision net revenue totaled $ 199.7 million , an increase of $ 63.8 million or 47 % . ( ¹ ) The provision for credit losses for the current first quarter declined $ 17.0 million or 83 % to $ 3.6 million . The first quarter efficiency ratio continues to improve , declining to 39.87 % . Return on average assets was 1.03 % compared to 0.75 % and return on average common stockholders ' equity was 8.63 % compared to 5.95 % . Return on average tangible assets was 1.08 % compared to 0.79 % , while return on average tangible common stockholders ' equity was 13.93 % compared to 9.80 % . • Net Interest Margin / Income : The net interest margin was 2.48 % , up one bp on a sequential basis , but up 47 bp compared to the first quarter of last year . The first quarter net interest margin was slightly impacted by excess liquidity as total deposits increased $ 1.8 billion compared to year - end 2020 , resulting in a significant increase in our cash and securities balances . Prepayment income totaled $ 19.7 million and added 15 bp to the NIM . Excluding the impact from prepayments , the NIM on a non - GAAP basis would have been 2.33 % , up three bp compared to 2.30 % compared to the previous quarter . Net interest income for the first quarter totaled $ 317.7 million , up 30 % compared to the year - ago quarter . • Balance Sheet : - Total loans held for investment rose $ 241.5 million or 2 % annualized to $ 43.1 billion compared to December 31 , 2020 . Multi - family loans totaled $ 32.2 billion , relatively unchanged compared to year - end 2020 . Specialty finance loans and leases continued to grow , increasing $ 136.1 million during the first quarter to $ 3.2 billion , up 18 % annualized compared to December 31 , 2020 . The commercial real estate portfolio reversed several quarters of decline , increasing $ 191.5 million to $ 7.0 billion or 11 % annualized compared to the previous quarter . We had strong deposit growth this quarter as total deposits increased $ 1.8 billion or 22 % annualized to $ 34.2 billion compared to December 31 , 2020. Most of this growth occurred in the non - interest bearing checking account category , while CD balances continued to decline . The Company is currently working with its technology partners to bring in additional low - cost deposits , related to the Economic Impact Payments associated with the federal stimulus plans . At quarter - end , these deposits totaled $ 1.6 billion . • Asset Quality : At March 31 , 2021 , 100 % or $ 6.1 billion of our full - payment loan deferrals returned to payment status . Non - performing assets , excluding non - performing taxi medallion - related assets , were $ 26.5 million or 0.05 % of total assets compared to $ 21.0 million or 0.04 % of total assets during the previous quarter . The ACL increased $ 3.7 million to $ 197.8 million at March 31 , 2021 compared to December 31 , 2020 and represents 596.05 % of total non- performing loans and 0.46 % of total loans at quarter end . • Capital Position at March 31 , 2021 : - Common Equity Tier 1 Capital Ratio was 9.84 % . Tier 1 Risk - Based Capital Ratio was 11.07 % . Total Risk - Based Capital Ratio was 13.09 % . Leverage Capital Ratio was 8.41 % . ( 1 ) Pre - provision net revenue is a non - GAAP measure , but we believe it is relevant to understanding the Company's financial results in light of the implementation of CECL and the economic impact of COVID - 19 .