New York Community Bancorp, Inc. Names Douglas Pagliaro As Senior Managing Director And Deputy Chief Digital And Banking As A Service Officer

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Sep 07, 2021, 09:00 ET

HICKSVILLE, N.Y., Sept. 7, 2021 /PRNewswire/ -- New York Community Bancorp, Inc. (NYSE: NYCB) (the "Company") today announced that Douglas Pagliaro has joined the Company as Senior Managing Director and Deputy Chief Digital and Banking as a Service Officer. Mr. Pagliaro comes to New York Community with 28 years of banking and financial services experience, including the past 11 years involved in the digital and Banking as a Service (BaaS) space. He has also spent half of his career focused on the alternative deposits channel.

Prior to joining the Company, Mr. Pagliaro was Senior Vice President and Executive Director at Kansas City-based UMB Financial (NASDAQ: UMBF). During his tenure, he partnered with several leading FinTech providers, implementing a number of BaaS initiatives and built one of the largest alternative deposits programs in the industry. Mr. Pagliaro is well respected within the FinTech community and has authored a number of articles and blog posts about the space.

Commenting on the hire, Chairman, President, and Chief Executive Officer, Thomas R. Cangemi, said, "We are extremely happy to have Doug join our team. His expertise built over the past decade will enhance our deposit gathering opportunities and jumpstart our BaaS capabilities and offerings. Additionally, he will collaborate with the Company's current and future FinTech partners."

In his new role, Mr. Pagliaro will report directly to Executive Vice President and Chief Digital and Banking as a Service Officer, Andrew Kaplan. Mr. Kaplan stated, "I am very pleased that Doug has joined our growing digital banking team. He has deep, long-standing relationships with some of the largest financial institutions in the country, working with them on their liquidity management strategies. Additionally, he will play a key role engaging with FinTech companies, as we launch our digital and BaaS initiatives."

Mr. Pagliaro commented, "I am honored to join the New York Community team. In my discussions with Tom and Andrew, I have come away impressed with their approach to the FinTech space and I am looking forward to leveraging my expertise to help NYCB broaden its digital capabilities."

About New York Community Bancorp, Inc.
Based in Hicksville, NY, New York Community Bancorp, Inc. is a leading producer of multi-family loans on non-luxury, rent-regulated apartment buildings in New York City, and the parent of New York Community Bank. At June 30, 2021, the Company reported assets of $57.5 billion, loans of $43.6 billion, deposits of $34.2 billion, and stockholders' equity of $6.9 billion.

Reflecting our growth through a series of acquisitions, the Company operates 236 branches through eight local divisions, each with a history of service and strength: Queens County Savings Bank, Roslyn Savings Bank, Richmond County Savings Bank, Roosevelt Savings Bank, and Atlantic Bank in New York; Garden State Community Bank in New Jersey; Ohio Savings Bank in Ohio; and AmTrust Bank in Florida and Arizona.

On April 26, 2021, the Company announced that it entered into a definitive merger agreement to acquire Flagstar Bancorp, Inc. The transaction was approved by both sets of shareholders on August 4, 2021 and is expected to close during the fourth quarter, subject to the satisfaction of certain closing conditions and the receipt of all necessary regulatory approvals. Upon closing, the combined company will have $85 billion in total assets, operate nearly 400 traditional branches across nine states, and 86 retail lending offices across a 28 state footprint. It will also have significant scale in several lines of business, including residential lending, mortgage servicing, mortgage warehouse, and multi-family lending.

Cautionary Statements Regarding Forward-Looking Information
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to NYCB's beliefs, goals, intentions, and expectations regarding NYCB's ability to achieve its financial and other strategic goals, including those related to the pending merger with Flagstar Bancorp.

Forward-looking statements are typically identified by such words as "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "should," and other similar words and expressions, and are subject to numerous assumptions, risks, and uncertainties, which change over time.

Additionally, forward-looking statements speak only as of the date they are made; NYCB does not assume any duty, and does not undertake, to update such forward-looking statements. Furthermore, because forward-looking statements are subject to assumptions and uncertainties, actual results or future events could differ, possibly materially, from those indicated in such forward-looking statements as a result of a variety of factors, many of which are beyond the control of NYCB. The factors that could cause actual results to differ materially include the following: the occurrence of any event, change or other circumstances that could give rise to the right of any of the parties to the pending merger to terminate the definitive merger agreement among NYCB, 615 Corp. and Flagstar; the outcome of any legal proceedings that may be instituted against NYCB or Flagstar; the possibility that the proposed transaction will not close when expected or at all because required regulatory or other approvals are not received or other conditions to the closings are not satisfied on a timely basis or at all, or are obtained subject to conditions that are not anticipated; the possibility that the anticipated benefits of the proposed transaction will not be realized when expected or at all; diversion of management's attention from ongoing business operations and opportunities; the possibility that NYCB may be unable to achieve expected synergies and operating efficiencies in or as a result of the proposed transaction within the expected timeframe or at all; revenues following the proposed transaction may be lower than expected; and the other factors discussed in the "Risk Factors" section of NYCB's Annual Report on Form 10-K for the year ended December 31, 2020, the "Risk Factors" section in NYCB's Quarterly Report on Form 10-Q for the period ended June 30, 2021, and in other reports NYCB files with the U.S. Securities and Exchange Commission (the "SEC"), which are available at http://www.sec.gov and in the "SEC Filings" section of NYCB's website, https://ir.mynycb.com, under the heading "Financial Information.

Investor/Media Contact: Salvatore J. DiMartino
(516) 683-4286

SOURCE New York Community Bancorp, Inc.