Astoria Federal Savings Adds Two Business Banking Specialists to its Expanding Team

Astoria Federal Savings Adds Two Business Banking Specialists to its Expanding

James Drum and Robert McKenna Add Their Long Island Expertise to the Business
Banking Group

PR Newswire

LAKE SUCCESS, N.Y., July 8, 2013

LAKE SUCCESS, N.Y., July 8, 2013 /PRNewswire/ --Astoria Federal Savings, Long
Island's fourth largest bank by deposit market share and the second largest
community bank headquartered in New York, today announced that it has hired
two veteran business bankers, James Drum and Robert McKenna, to the bank's
growing Business Banking Group. As relationship managers and senior vice
presidents, both McKenna and Drum are responsible for adding to the group's
business portfolio in the Long Island area, while working closely with area
businesses to optimize their operations. Both Drum and McKenna will report
directly to William Ayers, who serves as the director of relationship
management for the group on Long Island.

Drum has a high level of local expertise, which he has shown in his work with
Long Island businesses at institutions such as Commerce Bank. In addition to
his extensive work with local businesses, Drum has also had the opportunity to
apply his skills on an international level while working at the National Bank
of Canada. There, he was responsible for building and managing banking
relationships with major domestic and international financial institutions,
and creating new opportunities for the bank's U.S. network. Prior to working
with Astoria, Drum served as a vice president of business and professional
banking at M&T Bank.

McKenna also has a strong focus on business banking, bringing more than 25
years of banking experience and an extensive background in building banking
relationships with New York-area businesses. Most recently, he served as vice
president and senior relationship manager at TD Bank, where he focused on
developing new banking opportunities in the Long Island market. Prior to TD
Bank, McKenna was part of a team that developed a regional lending business
for Commerce Bank on Long Island. As a senior vice president at Astoria,
McKenna looks to use his background in asset-based financing, community
lending and middle market lending to develop and manage new business banking
clients for the bank.

"We are excited to bring Bob and Jim on board. They will each use their
extensive knowledge of the Long Island market and communities to further
provide our business banking clients with customized banking solutions for
their business and credit needs," said Stephen Sipola, executive vice
president and managing director of Astoria's Business Banking Group. "We
understand how important expert local consultation and quick decisions are for
these businesses, and we operate locally so we can move swiftly, and help to
enhance their business operations."

Drum and McKenna join Astoria's team of relationship managers, who serve as a
knowledgeable resource for local business owners. Since 2011, Astoria has
expanded its Business Banking Group from eight to more than 30 people, hiring
relationship managers and business banking executives with an average of more
than 20 years of business banking experience on Long Island and New York
City. Astoria's strategic shift in focus toward business banking has resulted
in a double-digit increase in core deposits for the second straight year.

About Astoria Federal Savings
Astoria Financial Corporation (NYSE: AF), with assets of $16.2 billion, is the
holding company for Astoria Federal Savings and Loan Association. Established
in 1888, Astoria Federal, with deposits in New York totaling $10.4 billion, is
the 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 office locations and multiple delivery channels, including its
enhanced website, Astoria Federal commands the fourth
largest 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
through correspondent relationships covering nine states and the District of
Columbia. Astoria Federal also originates multi-family and commercial real
estate loans, primarily on rent controlled and rent stabilized apartment
buildings, located in New York City and the metropolitan area.

SOURCE Astoria Federal Savings

Contact: Jake Mendlinger, Kwittken + Company, (646) 747-2878,
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