New York Community Bancorp, Inc. Names Thomas L. Nigro Executive Vice President and Director of Branch Operations and Sales.

WESTBURY, N.Y. -- New York Community Bancorp, Inc. (NYSE: NYB), the holding company for New York Community Bank and New York Commercial Bank, today announced that it has named Thomas L. Nigro Executive Vice President and Director of Branch Operations and Sales.

A veteran banker with 42 years' experience managing retail branch operations for commercial and community banks in New York City and Long Island, Mr. Nigro most recently served as Senior Vice President and Group Head of Community Banking at Atlantic Bank of New York, which was acquired by New York Community Bancorp on April 28, 2006. In this capacity, Mr. Nigro was responsible for overseeing retail and branch operations, including direct banking, small business and consumer lending, facilities, and account research.

In his new capacity with New York Community Bancorp, which serves the New York Metropolitan region through 166 branches, Mr. Nigro will team with the Company's Executive Vice President and Director of Branch Administration, Louis Riccio, to unify the Community Bank and the Commercial Bank in a culture of exceptional service and sales.

Commenting on the appointment, President and Chief Executive Officer Joseph R. Ficalora stated, "We are very excited that Tom Nigro and Lou Riccio will be working together to unite our commercial and community bank cultures as we focus on expanding our deposit market share and increasing revenues. Under Lou's supervision, our Community Bank has established a strong foundation of service, while expanding from six to 137 branches in the past 13 years. At the same time, Tom has been responsible for establishing a successful sales culture within several respected financial institutions. We expect that the collaboration of these two accomplished bankers will create a dynamic in our branches that can only enhance our ability to compete.

"In fact, Tom's appointment is just the most visible example of the infusion of commercial banking talent the Company is enjoying in connection with our recent acquisition of Atlantic Bank. We are very pleased that 90% of the officers who played an integral part in Atlantic Bank's success, as a depository and as a lender, have opted to remain with us. We believe they will be instrumental in establishing New York Commercial Bank as a serious contender in the competitive landscape that is Metropolitan New York," Mr. Ficalora said.

Mr. Nigro began his banking career in 1964 with South Shore Federal Savings & Loan, and spent the last six of his 17 years with the bank as First Vice President and head of Retail Branch Operations. In 1982, he joined Empire of America, overseeing 29 branches on Long Island in his capacity as First Vice President and Head of Retail Operations and Sales. In 1991, Mr. Nigro joined Key Bank as Sales Manager and Division Head for Long Island, ultimately gaining responsibility for the more than 80 branches in the bank's Northeast Region. In 2000, he joined The Dime as Division President, overseeing sales and operations at 40 branch offices in the New York Metropolitan region, before moving to Atlantic Bank of New York in 2002.

Mr. Riccio began his career with Queens County Savings Bank, the Company's forebear, in 1969 and, following a series of promotions within the branch network, was appointed Vice President and Director of Branch Administration in January 1995. Following his appointments to Senior Vice President in January 2001 and First Senior Vice President in November 2003, Mr. Riccio was named Executive Vice President in January 2006. In his capacity as Director of Branch Administration, Mr. Riccio has been responsible for overseeing the branch network during a time of significant expansion, including such back-office areas as product development, training, online and electronic banking, proof and control, and risk management.

New York Community Bancorp, Inc. is the holding company for New York Community Bank and New York Commercial Bank, which together have 166 branches, and the leading producer of multi-family loans for portfolio in New York City. A New York State-chartered savings bank with 137 offices serving New York City, Long Island, Westchester County, and northern New Jersey, New York Community Bank is the third largest thrift depository in the New York metropolitan region, and operates through seven local divisions: Queens County Savings Bank, Roslyn Savings Bank, Richmond County Savings Bank, Roosevelt Savings Bank, CFS Bank, First Savings Bank of New Jersey, and Ironbound Bank. New York Commercial Bank is a New York State-chartered commercial bank with 29 branches serving Manhattan, Queens, Brooklyn, Westchester County, and Long Island. Additional information about New York Community Bancorp, Inc. and its bank subsidiaries is available at www.myNYCB.com.