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Last €13.94 EUR
Change Today +0.259 / 1.89%
Volume 0.0
ORD On Other Exchanges
New York
As of 2:01 AM 08/4/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

One Astoria Bank Plaza

Lake Success, NY 11042

United States

Phone: 516-327-3000


Astoria Financial Corporation operates as the holding company for Astoria Federal Savings and Loan Association that provides various banking services. The company’s primary business is attracting retail deposits from the general public and businesses and investing those deposits, together with funds generated from operations, principal repayments on loans and securities and borrowings, primarily in one-to-four family, or residential, mortgage loans, multi-family mortgage loans, commercial real estate mortgage loans and mortgage-backed securities. It also invests in consumer and other loans, the U.S. government, government agency and government-sponsored enterprise securities, and other investments permitted by federal banking laws and regulations. The company’s retail banking network includes multiple delivery channels, including full service banking offices, automated teller machines, and telephone, Internet, and mobile banking capabilities. The company operates 85 full-service banking offices, of which 50 are owned and 35 are leased. Lending Activities The company’s loan portfolio primarily includes mortgage loans. The remainder of the loan portfolio consists of various consumer and other loans, including commercial and industrial loans. The company originates residential mortgage loans either directly through its banking and loan production offices in New York or indirectly through brokers and its third party loan origination program. It originates multi-family and commercial real estate mortgage loans either through direct solicitation by its banking officers in New York or indirectly through commercial mortgage brokers. The company also originates mortgage loans for sale. Residential Mortgage Lending: The company’s primary residential lending emphasis is on the origination and purchase of first mortgage loans secured by properties that serve as the primary residence of the owner. It also originates various second home mortgage loans. The company also has a residential broker network covering four states, primarily along the East Coast. Its third party loan origination program includes relationships with other financial institutions and mortgage bankers covering nine states and the District of Columbia. Multi-Family and Commercial Real Estate Lending: The company’s primary multi-family and commercial real estate lending emphasis is on the origination of mortgage loans on rent controlled and rent stabilized apartment buildings located in the greater New York metropolitan area, including the five boroughs of New York City, Nassau, Suffolk and Westchester counties in New York, and parts of New Jersey and Connecticut. The multi-family and commercial real estate loans in the company’s portfolio consist of both fixed rate and adjustable rate loans, which are originated at prevailing market rates. Multi-family and commercial real estate loans that the company offers are fixed rate, 5 to 15 year term balloon loans amortized approximately 15 to 30 years. The company also offers interest-only mortgage loans secured by multi-family cooperative properties to qualified borrowers, underwritten on an amortizing basis. Consumer and Other Loans: The company’s loan portfolio consists of consumer and other loans, which are primarily home equity lines of credit. It also offers overdraft protection, lines of credit, commercial loans, and passbook loans. Consumer and other loans, with the exception of home equity and commercial lines of credit, are offered primarily on a fixed rate, short-term basis. Deposits The company offers various deposit accounts, such as passbook and statement savings accounts, money market accounts, NOW and demand deposit (checking) accounts, and certificates of deposit. Subsidiary Activities In addition to the bank, the company has two other subsidiaries, such as AF Insurance Agency, Inc. and Astoria Capital Trust I. AF Insurance Agency, Inc. is a licensed life insurance agency. Through contractual agreements with various third parties, AF Insurance Agency, Inc. makes insurance products available primarily to the customers of the bank. The bank’s wholly-owned subsidiaries includ

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Valuation ORD Industry Range
Price/Earnings 18.3x
Price/Sales 3.8x
Price/Book 1.0x
Price/Cash Flow 16.7x
TEV/Sales NM Not Meaningful

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