Astoria Financial Corporation was a bank holding company based in
Lake Success, New York
Lake Success is a village in the Town of North Hempstead in Nassau County, on the North Shore of Long Island, in New York. The population was 2,897 at the 2010 census.
The Incorporated Village of Lake Success was the temporary home of the Uni ...
. On October 2, 2017, the company was acquired by
Sterling Bancorp
Sterling Bancorp was a regional bank holding company. It merged into Webster Financial Corporation in February 2022; their principal subsidiaries, Sterling National Bank and Webster Bank, were also merged, in the process.
Prior to the Webster m ...
.
As of December 31, 2016, the company's principal subsidiary, Astoria Bank, operated 88 locations.
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]
History
In 1888, the bank was first chartered by New York State.[
In 1936, the name was changed to Astoria Savings & Loan Association.
In 1937, the bank received a federal charter and became Astoria Federal Savings & Loan Association.
In 1989, George L. Engelke, Jr., was named president and chief executive officer of the company.
In 1993, Astoria Financial Corporation was created as part of the conversion from a ]mutual organization
A mutual organization, or mutual society is an organization (which is often, but not always, a company or business) based on the principle of mutuality and governed by private law. Unlike a true cooperative, members usually do not contribute ...
to a joint-stock company.
In 1995, the bank acquired Fidelity New York Savings Bank for $160 million in cash.
In 1997, the bank acquired Greater New York Savings Bank for $293 million in stock and cash.
In 1998, the bank acquired Long Island Savings Bank for $1.8 billion.
In 2012, George L. Engelke, Jr. resigned as chairman.[
]
References
Banks established in 1888
Banks disestablished in 2017
Defunct companies of the United States
Defunct banks of the United States
1888 establishments in the United States
2017 disestablishments in the United States
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