NEW YORK COMMUNITY BANCORP, INC. (NYSE:NYCB) Files An 8-K Regulation FD Disclosure

ME Staff 8-k
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NEW YORK COMMUNITY BANCORP, INC. (NYSE:NYCB) Files An 8-K Regulation FD Disclosure
Item 7.01

Regulation FD Disclosure

On June 27, 2017, New York Community Bancorp, Inc. (the “Company”) announced the strategic sale of its mortgage banking business (including its origination and servicing platforms and its mortgage servicing rights portfolio) to Freedom Mortgage Corporation. Additionally, it announced the receipt of regulatory approval from the FDIC to sell the assets covered under its Loss Share Agreements and that it had entered into an agreement to sell the majority of its one-to-four family residential assets, including those covered under the Loss Share Agreements to an affiliate of Cerberus Capital Management, L.P. The two transactions are expected to close during the third quarter of 2017, subject to certain closing conditions, and, on a combined basis, result in a gain on sale of approximately $90.0 million on a pre-tax basis. The news release is attached hereto as Exhibit 99.1.

Item 9.01

Financial Statements and Exhibits

(d) Attached as Exhibit 99.1 is the news release issued by the Company on June 27, 2017.



NEW YORK COMMUNITY BANCORP INC Exhibit
EX-99.1 2 a51580730ex99_1.htm EXHIBIT 99.1 Exhibit 99.1 New York Community Bancorp,…
To view the full exhibit click here
About NEW YORK COMMUNITY BANCORP, INC. (NYSE:NYCB)

New York Community Bancorp, Inc. is a multi-bank holding company. The Company’s operations are divided into two segments: Banking Operations and Residential Mortgage Banking. The Banking Operations segment serves consumers and businesses by offering and servicing a range of loan and deposit products and other financial services. The Residential Mortgage Banking segment originates, aggregates, sells and services one- to four-family mortgage loans. Mortgage loan products consist of agency-conforming fixed- and adjustable-rate loans and, to a lesser extent, jumbo loans, for the purpose of purchasing or refinancing one- to four-family homes. The Company’s subsidiaries are New York Community Bank, a chartered savings bank with approximately 230 branches that operates through over seven local divisions, and New York Commercial Bank, a chartered commercial bank with approximately 30 branches in Manhattan, Queens, Brooklyn, Westchester County and Long Island.