Parent Company Only Financial Information

12 Months Ended

Dec. 31, 2016

Parent Company Only Financial Information

NOTE 17: PARENT COMPANY-ONLY FINANCIAL INFORMATION

The following tables present the condensed financial statements for New York Community Bancorp, Inc. (parent company only):

Condensed Statements of Condition


	December 31,
(in thousands)	2016		2015
ASSETS:
Cash and cash equivalents	$	63,727	$	70,380
Securities available for sale		2,002		1,968
Investments in subsidiaries		6,426,276		6,232,228
Receivables from subsidiaries		7,839		7,635
Other assets		34,102		34,418

Total assets	$	6,533,946	$	6,346,629

LIABILITIES AND STOCKHOLDERS’ EQUITY:
Junior subordinated debentures	$	358,879	$	358,605
Other liabilities		51,076		53,328

Total liabilities		409,955		411,933

Stockholders’ equity		6,123,991		5,934,696

Total liabilities and stockholders’ equity	$	6,533,946	$	6,346,629

Condensed Statements of Income (Loss)


	Years Ended December 31,
(in thousands)	2016		2015			2014
Interest income	$	527	$	1,027		$	715
Dividends received from subsidiaries		330,000		345,000			410,000
Gain on sales of securities		—		—			261
Other income		679		527			520

Gross income		331,206		346,554			411,496
Operating expenses		49,157		48,255			42,370

Income before income tax benefit and equity in underdistributed (overdistributed) earnings of subsidiaries		282,049		298,299			369,126
Income tax benefit		19,592		20,720			17,570

Income before equity in underdistributed (overdistributed) earnings of subsidiaries		301,641		319,019			386,696
Equity in underdistributed (overdistributed) earnings of subsidiaries		193,760		(366,175	)		98,701

Net income (loss)	$	495,401	$	(47,156	)	$	485,397

Condensed Statements of Cash Flows


	Years Ended December 31,
(in thousands)	2016			2015			2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	495,401		$	(47,156	)	$	485,397
Change in other assets		316			(2,253	)		293
Change in other liabilities		(2,252	)		22,236			(2,807	)
Other, net		33,333			32,955			30,739
Equity in overdistributed (underdistributed) earnings of subsidiaries		(193,760	)		366,175			(98,701	)

Net cash provided by operating activities	$	333,038		$	371,957		$	414,921

CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sales and repayments of securities	$	—		$	—		$	566
Change in receivable from subsidiaries, net		(204	)		224			(2,707	)
Investment in subsidiaries		—			(560,000	)		—

Net cash used in investing activities	$	(204	)	$	(559,776	)	$	(2,141	)

CASH FLOWS FROM FINANCING ACTIVITIES:
Treasury stock purchases	$	(8,677	)	$	(7,020	)	$	(7,283	)
Cash dividends paid on common stock		(330,810	)		(453,981	)		(442,204	)
Net cash received from exercise of stock options		—			—			60
Proceeds from follow-on common stock offering ,net		—			629,682			—

Net cash (used in) provided by financing activities	$	(339,487	)	$	168,681		$	(449,427	)

Net decrease in cash and cash equivalents		(6,653	)		(19,138	)		(36,647	)
Cash and cash equivalents at beginning of year		70,380			89,518			126,165

Cash and cash equivalents at end of year	$	63,727		$	70,380		$	89,518

- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

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