Astoria Federal Savings Opens Its First Full-Service, Manhattan-Based Branch In Midtown Today

LAKE SUCCESS, N.Y., March 31, 2014 /PRNewswire/ -- Astoria Federal Savings, the second largest community bank headquartered in New York, today announced that it has opened a branch at Seven Penn Plaza on 7th Ave. at 31st St., adjacent to Penn Station. This is Astoria's first branch located in Manhattan, opened with the goal of providing additional convenience for business and retail customers who live or work in New York City.

"Expanding our branch network to Manhattan brings our banking professionals closer to our clients, making it easier to address their day-to-day needs and offer them guidance," said Astoria Federal Savings President and CEO Monte N. Redman. "The branch's proximity to Penn Station gives our customers commuting from Long Island a convenient place to bank, and our Manhattan customers easier access to our full line of products and services."

The new, convenient midtown branch location, in addition to Astoria's business banking office space in midtown which opened last year, is indicative of the bank's ongoing focus on New York City-based business clients.

The branch is managed by Susan Kim, who joined Astoria with more than 13 years of experience in the New York City banking industry. Kim has a thorough understanding of the area's banking needs – for businesses of all sizes – having previously served in management positions at midtown locations for North Fork Bank and Capital One. In addition to her work at Astoria, Kim is actively involved in business and community organizations as a member of the Korea Society and the Asian American Research Institute.

"While we're very excited to open our first Astoria Federal branch in Manhattan, this is just one of the many steps that we're taking this year to give our customers more personalized and convenient services," Redman said. "We recognize that today's customers rely on having a variety of banking options at their fingertips – whether it be a location near their office or the ability to deposit a check with their mobile phone – and that is exactly what we offer."

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, www.astoriafederal.com.  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

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