Daily News: August 17, 2017

OCC Approves Sterling, Astoria Merger


Sterling Bancorp and Astoria Financial received approval from the Office of the Comptroller of the Currency for a merger of Astoria with and into Sterling.

The transaction, which was announced March 7, 2017 and approved by the shareholders of Astoria Financial and Sterling Bancorp on June 13, 2017, remains subject to other customary closing conditions, including the approval of the Board of Governors of the Federal Reserve System.

The combined company will create a Greater New York City regional bank with $29 billion in assets

Astoria Financial is the holding company for Astoria Bank. Established in 1888, Astoria Bank, with deposits in New York totaling $8.9 billion, is the second largest thrift depository in New York.