Richard Saybolt Joins Astoria Bank as Senior Vice President and Director of Relationship Management for Business Banking

Former Citigroup executive to lead the New York City business banking team

Aug 13, 2015, 08:35 ET from Astoria Bank

LAKE SUCCESS, N.Y., Aug. 13, 2015 /PRNewswire/ -- Astoria Bank, the second largest community bank headquartered in New York, today announced that it has named Richard Saybolt as senior vice president and director of relationship management in the Business Banking Group. He will be responsible for managing the New York City business banking team and will be based at Astoria's Midtown Manhattan business banking office.

"Richard's experience and expertise is a tremendous asset to our organization as we continue to strengthen our Business Banking Group," said Stephen Sipola, executive vice president and managing director of the Business Banking Group. "Growing our portfolio in New York City is a key part of our long-term strategy for business lending. Richard's knowledge of the market will help us serve our existing customers and build new relationships in the region."

Bringing more than 30 years of senior management experience in commercial and business banking, Saybolt most recently served as senior vice president at Citibank. There, he oversaw a team of relationship managers covering the Manhattan market for the Citibank Commercial Bank with a responsibility to achieve growth objectives for assets, liabilities, treasury, foreign exchange and trade services. Previously, he also served as Citibank's regional business banking manager in New York City, marketing director for the U.S. Commercial Banking Group, and as a commercial banking relationship manager.

During his tenure at Citibank, Saybolt led several initiatives including the development of a unique business assessment tool utilized by small businesses. He also led the execution of programs designed to grow market share among CPAs, legal and healthcare professionals.

Saybolt's addition is part of Astoria Bank's continued expansion of its Business Banking Group, which began in 2011 and has grown from a team of eight to nearly 50 people.

Covering a territory of Manhattan, Brooklyn, Queens and Westchester, Saybolt will report to Stephen Sipola.

About Astoria Financial Corporation
Astoria Financial Corporation (NYSE: AF), with assets of $15.3 billion, is the holding company for Astoria Bank.  Established in 1888, Astoria Bank, with deposits in New York totaling $9.2 billion, is the second largest thrift depository in New York and provides its retail and business customers and local communities it serves with quality financial products and services through 87 convenient banking branch locations, a business banking office in Manhattan, and multiple delivery channels, including its flexible mobile banking app.  Astoria Bank 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 Bank originates 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 and 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 13 states and the District of Columbia.

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