Parent Company Only Financial Information

12 Months Ended

Dec. 31, 2020

NOTE 18: 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)		2020		2019
ASSETS:
Cash and cash equivalents	$		151,205	$	183,063
Investments in subsidiaries			7,333,764		7,169,066
Receivables from subsidiaries			—		2,249
Other assets			23,342		23,338
Total assets	$		7,508,311	$	7,377,716
LIABILITIES AND STOCKHOLDERS’ EQUITY:
Junior subordinated debentures	$		360,259	$	359,866
Subordinated notes			295,624		295,066
Other liabilities			10,784		11,090
Total liabilities			666,667		666,022
Stockholders’ equity			6,841,644		6,711,694
Total liabilities and stockholders’ equity	$		7,508,311	$	7,377,716

Condensed Statements of Income

		Years Ended December 31,
(in thousands)		2020		2019		2018
Interest income	$		293	$	668	$	500
Dividends received from subsidiaries			380,000		380,000		380,000
Other income			582		716		793
Gross income			380,875		381,384		381,293
Operating expenses			51,730		49,926		59,372
Income before income tax benefit and equity in underdistributed earnings of subsidiaries			329,145		331,458		321,921
Income tax benefit			14,163		13,669		16,616
Income before equity in underdistributed earnings of subsidiaries			343,308		345,127		338,537
Equity in underdistributed earnings of subsidiaries			167,801		49,916		83,880
Net income	$		511,109	$	395,043	$	422,417

Condensed Statements of Cash Flows

		Years Ended December 31,
(in thousands)		2020				2019				2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$		511,109			$	395,043			$	422,417
Change in other assets			(4	)			386				256
Change in other liabilities			(306	)			(2,608	)			(1,152	)
Other, net			30,352				32,776				36,677
Equity in underdistributed earnings of subsidiaries			(167,801	)			(49,916	)			(83,880	)
Net cash provided by operating activities			373,350				375,681				374,318
CASH FLOWS FROM INVESTING ACTIVITIES:
Change in receivable from subsidiaries, net			2,249				4,206				(1,705	)
Net cash provided by (used in) investing activities			2,249				4,206				(1,705	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Treasury stock repurchased			(59,022	)			(75,220	)			(163,249	)
Cash dividends paid on common and preferred stock			(348,435	)			(350,222	)			(365,889	)
Proceeds from issuance of subordinated notes			—				—				294,607
Net cash used in financing activities			(407,457	)			(425,442	)			(234,531	)
Net (decrease) increase in cash and cash equivalents			(31,858	)			(45,555	)			138,082
Cash and cash equivalents at beginning of year			183,063				228,618				90,536
Cash and cash equivalents at end of year	$		151,205		$		183,063		$		228,618