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Astoria Financial Corporation history
Astoria Financial Corporation company history timeline
In 1888, the bank was first chartered by New York State.
In 1936 it changed its name to Astoria Savings & Loan Association.
He joined Astoria Federal in 1971 to serve as vice-president and treasurer.
External Growth in 1973
By 1977 Astoria Federal boasted assets of $1 billion.
Astoria Federal also acquired Oneonta Federal Savings & Loan Association in 1988. It converted to a federal charter in 1980.
Oneonta converted to a federal charter in 1981.
In 1983 it acquired another bank, Citizens Savings & Loan Association of New York.
Astoria Federal then acquired Chenango Federal Savings in 1985.
In 1989 Astoria Federal changed leadership, which would spearhead the conversion from mutual ownership to stock ownership.
Then, in November 1993, the holding company sold 13.2 million shares of stock at $25 per share.
In 1993, Astoria Financial Corporation was created as part of the conversion from a mutual organization to a joint-stock company.
Engelke, named Astoria's chairman in 1997, began looking to the Brooklyn market, which was similar to Queens and its base of working-class homeowners, especially in the growing immigrant communities.
In 1997, the bank acquired Greater New York Savings Bank for $293 million in stock and cash.
Long Island Bancorp was the holding company for Long Island Savings Bank, which had been chartered originally in 1875. It became a prized catch in 1998, due in some measure to the thrift's expected share of the federal supervisory goodwill settlement.
Astoria Financial's stock began to rebound in the fall of 2000, reflecting investors' approval of the changes.
In 2012, George L. Engelke, Jr. resigned as chairman.
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Astoria Financial Corporation competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| M&T Bank | 1856 | $499.3M | 16,840 | 949 |
| Ocwen Financial | 1988 | $1.1B | 6,400 | 2 |
| Citi | 1812 | $74.3B | 210,000 | 1,333 |
| Primerica | 1977 | $602.0M | 2,104 | 61 |
| Morgan Stanley | 1935 | $3.0B | 68,097 | 1,107 |
| Raymond James Financial | 1962 | $1.7B | 18,910 | 960 |
| Stifel Financial | 1890 | $49.8M | 7,100 | 145 |
| Prudential Retirement Insurance And Annuity Co | - | $57 | 41,671 | - |
| TD Bank | 1852 | $8.5B | 26,001 | 1,419 |
| First International Exchange Group | 1952 | $131.5M | 1,040 | - |
Astoria Financial Corporation history FAQs
Zippia gives an in-depth look into the details of Astoria Financial Corporation, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Astoria Financial Corporation. The employee data is based on information from people who have self-reported their past or current employments at Astoria Financial Corporation. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Astoria Financial Corporation. The data presented on this page does not represent the view of Astoria Financial Corporation and its employees or that of Zippia.
Astoria Financial Corporation may also be known as or be related to Astoria Bank, Astoria Financial Corporation and astoria federal savings.