Astoria Bank Unveils Plans For Melville Branch

LAKE SUCCESS, N.Y., Oct. 9, 2014 /PRNewswire/ -- Astoria Bank today announced plans to open a branch in Melville, NY, as part of its ongoing expansion efforts.  The branch, which is scheduled to open on December 1, 2014, will be located at 532 Broadhollow Road, located on the Route 110 corridor, one quarter mile south of the Long Island Expressway.

"Having a branch presence in Melville gives us prime visibility in this central location, which is a major hub for Long Island businesses," said Astoria Bank President and CEO Monte Redman. "With this new convenient branch, we are able to more easily bring our individualized approach and locally based decision making to our new and existing customers in this area. It is a significant development for us as we expand our branch network and help businesses across Long Island grow with customized banking solutions that fit their needs."

The new branch will be managed by Craig Levy, who has joined Astoria Bank with more than 20 years of banking experience and valuable local market knowledge, having been on the Melville banking scene since 2008. "I'm excited about this opportunity and look forward to spending time with business customers to understand their needs and goals, and to help them think through their 'What-if' scenarios," said Levy.

The addition of the Melville branch brings Astoria's total to 87, following the March 2014 opening of its first Manhattan branch location at 7 Penn Plaza. Further branch expansion is planned in prime commercial locations within its market in 2015 and 2016 to support the bank's growth strategy.

About Astoria Financial Corporation

Astoria Financial Corporation AF, with assets of $15.7 billion, is the holding company for Astoria Bank. Established in 1888, Astoria Bank, with deposits in New York totaling $9.7 billion, is the second largest thrift depository in New York and provides the customers and local communities it serves with quality financial products and services through 86 convenient banking branch locations, one business banking office, and multiple delivery channels, including its enhanced website, www.astoriabank.com. 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 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 and 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.

SOURCE Astoria Bank