financial system, ongoing competition and talent risk, tighter regulation, significantly higher capital requirements, and ongoing litigation risks. New York Community Bancorp (NYCB) Our price objective is $17 and we use a three factor valuation model equally weighing valuations using P/E, P/TBV and DCF models. To arrive a

p. FHN FHN US Ebrahim H. Poonawala Franklin Financial Network, Inc. FSB FSB US Ebrahim H. Poonawala Hancock Holding HBHC HBHC US Ebrahim H. Poonawala New York Community Bancorp NYCB NYCB US Ebrahim H. Poonawala Regions Financial RF RF US Erika Najarian Synovus Financial Corp. SNV SNV US Ebrahim H. Poonawala U.S. Bancorp USB