New York Community Bancorp, Inc. (NYSE:NYCB) Q2 2022 Results Conference Call July 27, 2022 8:30 AM ET
Company Participants
Sal DiMartino - Executive Vice President & Chief of Staff
Thomas Cangemi - Chairman, President & Chief Executive Officer
Robert Wann - Chief Operating Officer
John Pinto - Chief Financial Officer
Sandro DiNello - President and Chief Executive Officer, Flagstar Bancorp
Lee Smith - President, Flagstar Mortgage
Conference Call Participants
Ebrahim Poonawala - Bank of America
Steven Alexopoulos - JPMorgan
Christopher Marinac - Janney Montgomery Scott
Steve Moss - B. Riley Securities
Bernard Von Gizycki - Deutsche Bank
Matthew Breese - Stephens
Chris McGratty - KBW
Operator
Good morning, everyone. This is Sal DiMartino. Thank you for joining the management team of New York Community for today's conference call. Today's discussion of the Company's Second Quarter 2022 Results will be led by Chairman, President and CEO, Thomas Cangemi, joined by Chief Operating Officer, Robert Wann; and the Company's Chief Financial Officer, John Pinto. They are joined on the line by Sandro DiNello, President and CEO of Flagstar Bancorp; and Lee Smith, President of Flagstar Mortgage.
Before we begin the discussion, I'd like to remind you that certain comments made today by the management team of New York Community may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements we may make are subject to the safe harbor rules. Please review the forward-looking disclaimer and safe harbor language in today's press release and investor presentation for more information about risks and uncertainties which may affect us.
And with that, now I would like to turn it over to Mr. Cangemi to begin today's conference call.
Thomas Cangemi
Thank you, Sal. Good morning to everyone, and thank you for joining us today to discuss our second quarter 2022 performance. First, however, I'd like to comment on our merger with Flagstar. Both sides are fully committed to completing the transaction as soon as possible, and we feel very good about where we stand currently.
Over the past 15 months, both companies have diligently worked together to get us to a strong position to close the deal quickly once all regulatory approvals are received. We're excited about the benefits of the deal today as we were when it was first announced.
In addition to the both earnings per share and tangible book value accretion, our merger with Flagstar significantly improved our overall funding profile and interest rate sensitivity. It shifts us away from relying on wholesale borrowings to being more significantly deposit funded and becoming asset-sensitive as well.