Long Island Financial (NASDAQ:LICB)
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New York Community Bancorp, Inc. (NYSE: NYB), the
holding company for New York Community Bank, and Long Island Financial
Corp. (NASDAQ/NMS: LICB) ("Long Island Financial"), the holding
company for Long Island Commercial Bank, today announced that the
acquisition of Long Island Financial by New York Community Bancorp,
Inc. was approved by the New York State Banking Department on November
3, 2005.
Shareholders of Long Island Financial are scheduled to vote on the
transaction at a special meeting of stockholders to be held on
November 16, 2005. In addition, the transaction requires the approval
of the Board of Governors of the Federal Reserve System.
New York Community Bancorp, Inc. is the holding company for New
York Community Bank, the fifth largest thrift in the nation, with
total assets of $25.0 billion at September 30, 2005. The Bank serves
its customers through a network of 141 banking offices in New York
City, Long Island, Westchester County, and northern New Jersey, and
operates through seven 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. The
Bank is the leading producer of multi-family mortgage loans for
portfolio in New York City and the third largest thrift depository in
the New York metropolitan region. Additional information about the
company may be found at its web site, www.myNYCB.com.
Long Island Financial Corp. is the $532.8 million holding company
for Long Island Commercial Bank, a New York State-chartered commercial
bank providing commercial and consumer banking services through twelve
branch offices in Suffolk, Nassau, and Kings Counties, with an
emphasis on personal service and responsiveness to the needs of its
customers. Additional information about the company may be found at
its web site, www.licb.com.
New York Community Bancorp, Inc. has filed a registration
statement with the Securities and Exchange Commission (the "SEC")
containing a proxy statement/prospectus and other documents regarding
its proposed transaction with Long Island Financial Corp. Investors
are urged to read the proxy statement/prospectus because it contains
important information about New York Community Bancorp, Inc. and Long
Island Financial Corp., and the prospective transaction. Copies of
this proxy statement/prospectus have been mailed to Long Island
Financial Corp. shareholders and, together with other documents filed
by New York Community Bancorp, Inc. or Long Island Financial Corp.
with the SEC, may be obtained free of charge at the SEC's website
(www.sec.gov) or by directing a request to New York Community Bancorp,
Inc. c/o the Investor Relations Department, 615 Merrick Avenue,
Westbury, N.Y. 11590 or the Corporate Secretary, Long Island Financial
Corp., 1601 Veterans Highway, Suite 120, Islandia, N.Y. 11749.
Long Island Financial Corp. and its directors, executive officers
and certain other members of management, and employees may be
soliciting proxies from their shareholders in favor of the proposed
transaction. Information regarding such persons who may, under the
rules of the SEC, be considered to be participants in the solicitation
of Long Island Financial Corp.'s shareholders in connection with the
proposed transaction is set forth in Long Island Financial Corp.'s
proxy statement filed with the SEC on March 25, 2005 relating to its
annual meeting of shareholders held on April 20, 2005. Additional
information is set forth in the proxy statement/prospectus filed with
the SEC.