Astoria Bank Announces Plans for New Long Island City Branch

LAKE SUCCESS, N.Y., Oct. 8, 2015 /PRNewswire/ -- Astoria Bank, the second largest community bank headquartered in New York, today announced it has finalized an agreement to open a new full-service branch in Long Island City, Queens, NY.  With renovations already underway at the 26-26 Jackson Ave. location, the branch – Astoria's 88^th – is set to open before the end of the year.

"Long Island City presents a strong growth opportunity for Astoria Bank as we look to continue to expand our business and consumer banking portfolios," said Astoria Bank President and CEO Monte Redman.  "Recent surges in business and residential development have helped to turn this once heavily industrial area of Queens into a diverse and vibrant neighborhood and we look forward to satisfying the community's growing financial needs."

With convenient branch banking hours, online banking, and enhanced mobile apps for business and personal customers, Astoria Bank offers a consultative approach to help its customers achieve financial well-being and growth.  Its diverse products and services include: retail banking, business banking, multi-family and commercial real estate as well as residential lending.

Astoria Bank, founded in Queens more than 125 years ago, has always maintained a strong retail banking presence in the borough, including nearby Astoria.  "We have roots in this area, and throughout the years, we've helped residents with their banking and mortgage needs to strengthen local neighborhoods," Redman said.  "Today, our expanded effort on helping businesses grow brings another dimension to our community focus, as we help them to better manage their cash flow and capital needs."                                                              

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.

SOURCE Astoria Bank

Related Links

http://www.astoriafederal.com