This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

New York Community Bancorp, Inc. Announces The Successful Integration Of Its Bank Operating Systems

Stocks in this article: NYB

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.

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • 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 Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs