Exhibit 99.1


         Federal Reserve Board of Governors Approves New York Community
            Bancorp, Inc.'s Acquisition of Atlantic Bank of New York


     WESTBURY, N.Y. & NEW YORK--(BUSINESS WIRE)--March 30, 2006--New York
Community Bancorp, Inc. (NYSE: NYB), the holding company for New York Community
Bank and New York Commercial Bank, and Atlantic Bank of New York ("Atlantic
Bank"), a wholly-owned subsidiary of the National Bank of Greece, today
announced that the acquisition of Atlantic Bank by New York Community Bancorp,
Inc. has been approved by the Board of Governors of the Federal Reserve System.
     The acquisition is pending the approval of the New York State Banking
Department, which is expected to consider the acquisition at its regularly
scheduled meeting on April 6, 2006.

     New York Community Bancorp, Inc. is the $26.3 billion holding company for
New York Community Bank and New York Commercial Bank, and the leading producer
of multi-family loans for portfolio in New York City. A New York State-chartered
savings bank with 139 offices serving New York City, Long Island, Westchester
County, and northern New Jersey, New York Community Bank is the third largest
thrift depository in the New York metropolitan region, and operates through
seven local 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. New York Commercial Bank is a New York
State-chartered commercial bank with 12 branches serving Long Island and
Brooklyn, New York. Additional information about New York Community Bancorp,
Inc. and its bank subsidiaries is available at www.myNYCB.com.

     Established in 1926, Atlantic Bank of New York is one of the top 20
commercial banks serving the New York area. With $2.7 billion in assets,
Atlantic Bank of New York is a full-service commercial bank providing a
comprehensive range of financial services to small and mid-sized businesses,
commercial real estate investors, and consumers. The Bank operates branch
offices in Manhattan, Queens, Brooklyn, Long Island, and Westchester County, and
offers commercial insurance premium financing on a nationwide basis through its
wholly-owned subsidiary, Standard Funding Corp. Atlantic Bank is a member of the
NBG Group which has more than $68 billion in assets and operates in 23
countries. Additional information is available on the Bank's website,
www.atlanticbank.com.


    CONTACT: New York Community Bancorp, Inc.
             Investor Relations:
             Ilene A. Angarola, 516-683-4420
             or
             Atlantic Bank of New York
             Anthony J. Morris, 212-714-7579