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Pending Acquisition | 9 Months Ended
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Sep. 30, 2022
Business Combinations [Abstract] |
Pending Acquisition | Note 13. Pending Acquisition Receipt of OCC Approval for Bank Merger and Merger Extension On October 28, 2022, the Company and Flagstar Bancorp, Inc. ("Flagstar") jointly announced the receipt of approval from the Office of the Comptroller of the Company (the "OCC") to convert Flagstar Bank, FSB to a national bank to be known as Flagstar Bank, N.A., and to merge New York Community Bank into Flagstar Bank, N.A. with Flagstar Bank being the surviving entity. The acquisition of Flagstar by the Company is still subject to the approval of the FRB, as well as the satisfaction of certain other customary closing conditions under the merger agreement, as amended, between the two companies (the “Merger Agreement”). The OCC approval is subject to a statutory 15-day waiting period that provides that the bank merger cannot be consummated until 15 days after OCC approval has been received, which in this case is November 11, 2022. There is no associated waiting period with the FRB approval. NYCB and Flagstar intend to consummate the holding company and bank merger promptly after FRB approval is received and the OCC waiting period ends. In addition, NYCB and Flagstar announced that they have mutually agreed to extend the Merger Agreement to December 31, 2022 from October 31, 2022 to provide additional time to obtain regulatory approval from the FRB. The extension was approved by the Boards of Directors of both companies. Pursuant to the terms of the Merger Agreement, Flagstar shareholders will receive 4.0151 shares of Company common stock for each Flagstar share they own.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI https://asc.fasb.org/topic&trid=2303972 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 5 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4946-128472 + Details
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