Astoria Federal Savings To Open Its First Full-Service, Manhattan-Based Branch In Midtown

Mar 12, 2014, 16:01 ET from Astoria Federal Savings

LAKE SUCCESS, N.Y., March 12, 2014 /PRNewswire/ -- Astoria Federal Savings, the second largest community bank headquartered in New York, today announced that it will open a branch at 7 Penn Plaza on 7th Ave. at 31st St., on March 31, 2014. This will be Astoria's first branch located in Manhattan and will provide easy access for the bank's business and personal customers who work or live in New York City.  

"Our new branch is conveniently located in a high-traffic spot adjacent to Penn Station that supports new and existing customers across the greater New York metro area," said President and Chief Executive Officer Monte N. Redman. "Part of Astoria's commitment to our customers includes growing with them. As our client base continues to grow, we have followed suit."

Astoria's expansion into Manhattan complements the recent opening of their first business banking office in the city and reflects the bank's focus to servicing local business clients of all sizes. Over the past year, the bank has added 12 seasoned relationship managers with an average of 20 years of experience to its Business Banking Group.

"Having this physical presence in Manhattan will bring our banking professionals closer to our New York City-based business customers and make it easier for our team to provide hands-on consultative advice to help them grow," Redman said.

About Astoria Financial Corporation
Astoria Financial Corporation (NYSE: AF), with assets of $15.8 billion, is the holding company for Astoria Federal Savings and Loan Association.  Established in 1888, Astoria Federal, with deposits in New York totaling $9.9 billion, is the second largest thrift depository in New York and embraces its philosophy of "Putting people first" by providing the customers and local communities it serves with quality financial products and services through 85 convenient banking branch locations, one business banking office, and multiple delivery channels, including its enhanced website,  Astoria Federal commands a significant deposit market share in the attractive Long Island market, which includes Brooklyn, Queens, Nassau, and Suffolk counties with a population exceeding that of 38 individual states.  Astoria Federal originates residential mortgage loans through its banking and loan production offices in New York, a broker network in four states, primarily along the East Coast, and correspondent relationships covering nine states and the District of Columbia and multi-family and commercial real estate loans, primarily on rent controlled and rent stabilized apartment buildings, located in New York City and the surrounding metropolitan area.

SOURCE Astoria Federal Savings