Besides the restrictions the bank may be under by going over the 50 billion mark analysts have noted that there aren't many larger banks/thrifts that are willing to be acquired at a reasonable valuation. I'm hoping that an institution like AF with plenty of low cost deposits would be willing to be acquired at price close to 18/share to make the deal accretive. To make this deal work NYCB's stock price would have to increase into the 17-18 range.
If NYCB isn't able to make a large deal or a series of smaller deals to increase shareholder value then they should sell the bank. The dividend is nice but this stock should be heading in the twenty plus range and it hasn't been there since 2005. That is way too long!