New York Community Bancorp, Inc. (NYSE:NYCB) Q1 2023 Earnings Conference Call April 28, 2023 8:30 AM ET

Company Participants

Sal DiMartino – Director-Investor Relations

Thomas Cangemi – President and Chief Executive Officer

John Pinto – Chief Financial Officer

Reggie Davis – President-Banking

Lee Smith – President-Mortgage

Conference Call Participants

Ebrahim Poonawala – Bank of America

Chris McGratty – KBW

Mark Fitzgibbon – Piper Sandler

Brody Preston – UBS

Bernard Von Gizycki – Deutsche Bank

Steven Alexopoulos – J.P. Morgan

Matthew Breese – Stephens

Manan Gosalia – Morgan Stanley

Operator

Good morning, ladies and gentlemen, and welcome to the NYCB Q1 2023 Earnings Conference Call. At this time all lines are in a listen-only mode. Following the presentation, we will conduct a question-and-answer session. [Operator Instructions] This call is being recorded on Friday, April 28, 2023.

I would now like to turn the conference over to Mr. Sal DiMartino, Director of Investor Relations. Please go ahead, sir.

Sal DiMartino

Thank you, Laura. Good morning, everyone, and thank you for joining the management team of New York Community Bancorp for today's conference call. Today's discussion of the company's first quarter 2023 results will be led by President and CEO, Thomas Cangemi; joined by the company's Chief Financial Officer, John Pinto; Reggie Davis, President of Banking; and Lee Smith, President of Mortgage.

Before the discussion begins, I'd like to remind you that certain comments made today by the management team of New York Community may include certain forward-looking statements within the meanings of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements we make are subject to the safe harbor rules. Please review the forward-looking disclaimer and safe harbor language in today's press release and presentation for more information about risks and uncertainties, which may affect us.

And with that, now I would like to turn the call over to Mr. Cangemi.

Thomas Cangemi

Thank you, Sal. Good morning, everyone, and thank you for joining us today. Today, I would like to cover a few topics with you. Our first quarter 2023 operating results, the first is a combined company with Flagstar, how we fared during the recent market upheaval, the Signature Bank transaction and finally provide you with some forward-looking guidance. As you all know, the first quarter was a volatile quarter for the banking industry and unfortunately several good financial institutions became victims of this volatility. While no financial institution is 100% immune from the damage that the crisis [indiscernible] causes, New York Community fared very well during this period of turmoil due to our diversified business model focusing on several core businesses, retail banking, commercial lending, multifamily and commercial real estate lending and the residential mortgage origination and servicing business.