New York Community Bancorp, Inc. Announces The Successful Integration Of Its Bank Operating Systems
New York Community Bancorp, Inc. (NYSE: NYB) (the “Company”) today announced that the conversion of the operating system used in the 68 branches of New York Community Bank in Ohio, Florida, and Arizona to the same system used in the 172 branches of New York Community Bank in New York and New Jersey and the 34 branches of New York Commercial Bank in New York was completed on September 2, 2012.
In addition to enhancing the efficiency of the Community Bank’s operation, the systems integration will enable its customers in Ohio, Florida, and Arizona to have access to the same enhanced menu of products and services as those enjoyed by its customers in New Jersey and New York. Furthermore, customers throughout the Community Bank’s five-state franchise will be able to conduct their banking business at any of the 274 branches of New York Community Bank and New York Commercial Bank, combined.
Commenting on the conversion, President and Chief Executive Officer Joseph R. Ficalora stated, “Integrating all of our Community Bank branches onto a single operating system was the final step in a process that began when we integrated our Community Bank and Commercial Bank branches in New York and New Jersey onto a single system in June 2010. For customers of our Ohio Savings Bank and AmTrust Bank divisions, the benefits are particularly substantial, as they now will have access to an expanded product menu--one that addresses the financial needs of consumers and businesses alike. The integration of our systems also will facilitate enhancements to our online banking service and the introduction of additional products, later on this year.
“At the same time, the conversion will support the efficiency of our operation, with the decline in systems-related expenses offsetting the increase in certain other costs. As the costs of compliance increase in tandem with the increase in bank regulation, the decline in systems-related expenses is particularly well timed.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV