NYCB 2017 Annual Report

81 NEW YORK COMMUNITY BANCORP, INC. CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY Years Ended December 31, (in thousands, except share data) 2017 2016 2015 PREFERRED STOCK (Par Value: $0.01): Balance at beginning of year $ -- $ -- $ -- Issuance of preferred stock (515,000 shares) 502,840 -- -- Balance at end of year 502,840 -- -- COMMON STOCK (Par Value: $0.01): Balance at beginning of year 4,871 4,850 4, 427 Shares issued for restricted stock awards (2,004,212; 2,099,865; and 1,683,564, respectively) 20 21 17 Shares issued in follow-on common stock offering (40,625,000 shares) -- -- 406 Balance at end of year 4,891 4,871 4,850 PAID-IN CAPITAL IN EXCESS OF PAR: Balance at beginning of year 6,047,558 6,023,882 5,369,623 Shares issued for restricted stock awards, net of forfeitures (11,028) (8,985) (7,708) Compensation expense related to restricted stock awards 36,029 32,661 30,205 Proceeds from follow-on common stock offering, net -- -- 629,276 Tax effect of stock plans -- -- 2,486 Balance at end of year 6,072,559 6,047,558 6,023,882 RETAINED EARNINGS (ACCUMULATED DEFICIT): Balance at beginning of year 128,435 (36,568) 464,569 Net income (loss) 466,201 495,401 (47,156) Dividends paid on common stock ($0.68; $0.68; and $1.00 per share) (332,147) (330,810) (453,981) Dividends paid on preferred stock ($47.81 per share) (24,621) -- -- Effect of adopting Accounting Standards Update (“ASU”) No. 2016 -09 (1) -- 412 -- Balance at end of year 237,868 128,435 (36,568) TREASURY STOCK: Balance at beginning of year (160) (447) (1,118) Purchase of common stock (1,284,373; 566,584; and 448,223 shares, respectively) (18,463) (8,677) (7,020) Shares issued for restricted stock awards (713,837; 580,087; and 495,777 shares, respectively) 11,008 8,964 7,691 Balance at end of year (7,615) (160) (447) ACCUMULATED OTHER COMPREHENSIVE LOSS, NET OF TAX: Balance at beginning of year (56,713) (57,021) (55,686) Other comprehensive income (loss), net of tax 41,546 308 (1,335) Balance at end of year (15,167) (56,713) (57,021) Total stockholders’ equity $6,795,376 $6,123,991 $5,934,696 (1) See Note 2, “Summary of Significant Accounting Policies” for a discussion of the Company’s adoption of Accounting Standards Update No. 2016-09. See accompanying notes to the consolidated financial statements.