NEW YORK COMMUNITY BANK TO ELIMINATE NON-SUFFICIENT FUND FEES; TO ROLL OUT EARLY PAY PRODUCT DURING THIRD QUARTER

HICKSVILLE, N.Y., June 6, 2022 /PRNewswire/ -- New York Community Bancorp, Inc. (NYSE: NYCB) (the "Company") the parent holding company of New York Community Bank (the "Bank") today announced the elimination of non-sufficient ("NSF"), uncollected, and unavailable funds fees on all of its consumer and business checking products, and the elimination of transfer fees on its overdraft shield product, effective August 1, 2022.

As part of its review of the Bank's product offerings and to help customers with their cash flow needs, it also plans to launch Early Pay during the third quarter.  This product provides customers access to their direct deposit paycheck up to two days sooner, helping them avoid overdrafts and better manage their spending.

Recently the Company introduced the My Community SimplyOne Checking Account, a Bank On certified product with no NSF or overdraft fees, low minimum opening deposit requirements, and access to both on-line banking and mobile banking with remote deposit.

"The Bank remains committed to its customer first philosophy" said Thomas R. Cangemi, Chairman, President, and Chief Executive Officer, he continued, "the elimination of these fees and the introduction of Early Pay is another step in helping our customers better manage their finances."

Based in Hicksville, N.Y., New York Community Bancorp, Inc. is a leading producer of multi-family loans on non-luxury, rent-regulated apartment buildings in New York City, and the parent of New York Community Bank. At March 31, 2022, the Company reported assets of $61.0 billion, loans of $46.8 billion, deposits of $38.0 billion, and stockholders' equity of $6.9 billion.

Reflecting our growth through a series of acquisitions, the Company operates 237 branches through eight local divisions, each with a history of service and strength: Queens County Savings Bank, Roslyn Savings Bank, Richmond County Savings Bank, Roosevelt Savings Bank, and Atlantic Bank in New York; Garden State Community Bank in New Jersey; Ohio Savings Bank in Ohio; and AmTrust Bank in Florida and Arizona.

Investor/Media Contact
Salvatore J. DiMartino
(516) 683-4286

SOURCE New York Community Bancorp, Inc.