Market Overview

New York Community Bancorp, Inc. Sorrowfully Announces the Passing of Director Emeritus Max L. Kupferberg


It is with infinite sadness that New York Community Bancorp, Inc. (NYSE: NYCB) (the "Company"), the holding company for New York Community Bank and New York Commercial Bank (together, the "Banks"), today announced the passing of Max L. Kupferberg, whose 33 years of service as a trustee and director were unsurpassed in their dedication, passion, and quality. Mr. Kupferberg passed away on January 4, 2017.

A member of the Board of Trustees that took the Company public, Mr. Kupferberg was an active member of the Mortgage and Real Estate Committee of New York Community Bank and its forebear, Queens County Savings Bank. A highly successful businessman who, with his brothers, co-founded Kepco, Inc., a prominent manufacturer of electronic equipment in Queens County, Mr. Kupferberg also served on the Company's Audit Committee, as well as on the Nominating and Corporate Governance, Compensation, Risk Assessment, and Cyber Security Committees of the Boards. In recognition of his unique contributions, Mr. Kupferberg was named "Director Emeritus" of the Company and the Banks on July 1, 2015.

The success of his business fueled yet another calling: the drive to give back to the county he called home. Together, he and his late wife Selma established two foundations, whose grants have supported scores of organizations in Queens and beyond. A member of the first graduating class of Queens College, Mr. Kupferberg, with his wife, contributed significantly to the expansion of Queens College, funding the Max and Selma Kupferberg Center for the Performing Arts.

Commenting on Mr. Kupferberg's passing, President and Chief Executive Officer Joseph R. Ficalora stated, "There is no way to overstate the value of Max's contributions to our organization, nor for that matter, the esteem in which he was held. His generosity toward our company--the unparalleled wisdom, time, and counsel he shared with us--was frankly, without equal, and will continue to inspire our management and our Board. Max, in a word, was a gift to those of us who knew him--a man of superior intellect, experience, and vision, but also the most gentle and benevolent of souls.

"We extend our deepest sympathies to his loving family, and join them in mourning the loss of one of the finest gentlemen we have ever known."

About New York Community Bancorp, Inc.

One of the largest U.S. bank holding companies, with assets of $49.5 billion, 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 and New York Commercial Bank. With deposits of $29.1 billion and 255 branches in Metro New York, New Jersey, Florida, Ohio, and Arizona, the Company also ranks among the largest depositories in the United States.

Reflecting its growth through a series of acquisitions, the Community Bank currently operates through seven local divisions, each with a history of service and strength: Queens County Savings Bank, Roslyn Savings Bank, Richmond County Savings Bank, and Roosevelt Savings Bank in New York; Garden State Community Bank in New Jersey; Ohio Savings Bank in Ohio; and AmTrust Bank in Florida and Arizona. Similarly, New York Commercial Bank currently operates 18 of its 30 New York-based branches under the divisional name Atlantic Bank. Additional information about the Company and its bank subsidiaries is available at and

For New York Community Bancorp, Inc.
Ilene A. Angarola, 516-683-4420
Kelly Maude Leung, 516-683-4032

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