HICKSVILLE, N.Y., July 2, 2024 /PRNewswire/ -- New York Community Bancorp, Inc. (NYSE:NYCB) (the "Company") announced today that, as previously disclosed and approved by its shareholders at the Company's annual meeting held on June 5th, its Board of Directors approved the one-for-three reverse stock split. The reverse stock split is expected to become effective at 5:01 p.m. ET on July 11, 2024, after close of trading on the New York Stock Exchange ("NYSE"). The Company's common stock is expected to begin trading on a split-adjusted basis as of the market open on July 12, 2024. As a result of the reverse stock split, every three shares of the Company's common stock issued and outstanding will be exchanged into one new share of the Company's common stock. Additionally, the number of authorized shares of the Company's common stock will be reduced from 2,000,000,000 to 666,666,666. The new CUSIP number of the Company's common stock following the reverse stock split will be 649445400. No fractional shares will be issued in connection with the reverse stock split. Common shareholders who would otherwise be entitled to receive fractional shares as a result of the reverse stock split will be entitled to a cash payment in lieu of the fractional shares. Proportional adjustments will also be made to the Company's equity compensation plans and equity compensation awards, as well as the conversion ratio of certain classes of the Company's preferred stock. Commenting on today's announcement, Chairman, President, and Chief Executive Officer Joseph M. Otting stated, "The reverse stock split represents another milestone in our efforts to enhance shareholder value and the journey of building a strong, well diversified regional bank. We were pleased with the overwhelming shareholder support for the reverse stock split and the other proposals approved at the annual shareholder meeting." About New York Community Bancorp, Inc. New York Community Bancorp, Inc. is the parent company of Flagstar Bank, N.A., one of the largest regional banks in the country. The Company is headquartered in Hicksville, New York. At March 31, 2024, the Company had $112.9 billion of assets, $83.3 billion of loans, deposits of $74.9 billion, and total stockholders' equity of $8.4 billion. Flagstar Bank, N.A. operates 419 branches, including strong footholds in the Northeast and Midwest and exposure to high-growth markets in the Southeast and West Coast. Flagstar Mortgage operates nationally through a wholesale network of approximately 3,000 third-party mortgage originators. In addition, the ...