New York Community Bancorp, Inc. To Redeem Five Of Its Outstanding Trust Preferred Securities

New York Community Bancorp, Inc. (NYSE: NYCB) (the “Company”) today announced that it will redeem five of its outstanding trust preferred securities (the “Trust Preferred Securities”) with a total carrying amount of $69.2 million, on Monday, December 31, 2012.

In connection with Section 171 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Section 171”), which mandates that Tier 1 capital credit for trust preferred securities be phased out over a three-year transition period beginning January 1, 2013, the following trust preferred securities will be redeemed pursuant to redemption provisions relating to the occurrence of a capital treatment event:

Issuer		Interest Rate of Capital Securities and Debentures			Junior Subordinated Debenture Carrying Amount(in thousands)			Redemption Price as a Percent of Principal Amount*
Queens County Capital Trust I		11.045	%		$10,309			100.000	%
Queens Statutory Trust I		10.600			15,564			104.240
LIF Statutory Trust I		10.600			7,732			104.240
___________*Amounts exclude accrued and unpaid distributions up to and excluding the redemption date.

The following trust preferred securities will be redeemed pursuant to redemption provisions relating to optional redemption:

Issuer		Interest Rate of Capital Securities and Debentures			Junior Subordinated Debenture Carrying Amount(in thousands)			Redemption Price as a Percent of Principal Amount*
Haven Capital Trust II		10.250	%		$23,333			103.588	%
PennFed Capital Trust II		10.180			12,372			104.581
___________*Amounts exclude accrued and unpaid distributions up to and excluding the redemption date.

Management does not expect the redemption of the Trust Preferred Securities to have a material impact on the Company’s capital position or regulatory capital ratios.

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