Industry | Financial services |
---|---|
Founded | 1888 |
Defunct | October 2, 2017 |
Fate | Acquired by Sterling Bancorp |
Headquarters | |
Area served | New York metropolitan area |
Key people | Monte N. Redman, CEO Ralph F. Palleschi, Chairman Frank E. Fusco, CFO [1] |
Revenue | $0.454 billion (2016) [1] |
$0.071 billion (2016) [1] | |
Total assets | $14.558 billion (2016) [1] |
Total equity | $1.714 billion (2016) [1] |
Owner | Sterling Bancorp |
Number of employees | 1,328 [1] |
Astoria Financial Corporation was a bank holding company based in Lake Success, New York. On October 2, 2017, the company was acquired by Sterling Bancorp. [2]
As of December 31, 2016, the company's principal subsidiary, Astoria Bank, operated 88 locations. [1]
In 1888, the bank was first chartered by New York State. [1]
In 1936, the name was changed to Astoria Savings & Loan Association.
In 1937, the bank received a federal charter and became Astoria Federal Savings & Loan Association.
In 1989, George L. Engelke, Jr., was named president and chief executive officer of the company. [3]
In 1993, Astoria Financial Corporation was created as part of the conversion from a mutual organization to a joint-stock company.
In 1995, the bank acquired Fidelity New York Savings Bank for $160 million in cash. [4]
In 1997, the bank acquired Greater New York Savings Bank for $293 million in stock and cash. [5] [6]
In 1998, the bank acquired Long Island Savings Bank for $1.8 billion. [7]
In 2012, George L. Engelke, Jr. resigned as chairman. [8]
In 2017, the bank was acquired by Sterling Bancorp. [2]
Washington Mutual, Inc. was an American savings bank holding company based in Seattle. It was the parent company of WaMu Bank, which was the largest savings and loan association in the United States until its collapse in 2008.
U.S. Bancorp is an American bank holding company based in Minneapolis, Minnesota, and incorporated in Delaware. It is the parent company of U.S. Bank National Association, and is the fifth largest banking institution in the United States. The company provides banking, investment, mortgage, trust, and payment services products to individuals, businesses, governmental entities, and other financial institutions. It has 3,106 branches and 4,842 automated teller machines, primarily in the Western and Midwestern United States. It is ranked 117th on the Fortune 500, and it is considered a systemically important bank by the Financial Stability Board. The company also owns Elavon, a processor of credit card transactions for merchants, and Elan Financial Services, a credit card issuer that issues credit card products on behalf of small credit unions and banks across the U.S.
M&T Bank Corporation is an American bank holding company headquartered in Buffalo, New York. It operates 1,000+ branches in 12 states across the Eastern United States, from Maine to Southern Virginia. Until May 1998, the bank's holding company was named First Empire State Corporation.
The PNC Financial Services Group, Inc. is an American bank holding company and financial services corporation based in Pittsburgh, Pennsylvania. Its banking subsidiary, PNC Bank, operates in 27 states and the District of Columbia, with 2,629 branches and 9,523 ATMs. PNC Bank is on the list of largest banks in the United States by assets and is one of the largest banks by number of branches, deposits, and number of ATMs.
National City Corporation was a regional bank holding company based in Cleveland, Ohio, founded in 1845; it was once one of the ten largest banks in America in terms of deposits, mortgages and home equity lines of credit. Subsidiary National City Mortgage is credited for doing the first mortgage in America. The company operated through an extensive banking network primarily in Ohio, Illinois, Indiana, Kentucky, Michigan, Missouri, Pennsylvania, Florida, and Wisconsin, and also served customers in selected markets nationally. Its core businesses included commercial and retail banking, mortgage financing and servicing, consumer finance, and asset management. The bank reached out to customers primarily through mass advertising and offered comprehensive banking services online. In its last years, the company was commonly known in the media by the abbreviated NatCity, with its investment banking arm even bearing the official name NatCity Investments.
The National Bank of Detroit (NBD), later renamed NBD Bank, was a bank that operated mostly in the Midwestern United States. Following its merger with First National Bank of Chicago, the bank was ultimately acquired and merged into Bank One, at which point the NBD name was discontinued. Today, what was once NBD is owned by JPMorgan Chase & Co.
The Bank of Hawaii Corporation is a regional commercial bank headquartered in Honolulu, Hawaii. It is Hawaii's second oldest bank and its largest locally owned bank in that the majority of the voting stockholders reside within the state. Bank of Hawaii has the most accounts, customers, branches, and ATMs of any financial institution in the state. The bank consists of four business segments: retail banking, commercial banking, investment services, and treasury. The bank is currently headed by chairman, president and chief executive officer, Peter S. Ho.
Webster Bank is an American commercial bank based in Stamford, Connecticut. It has 177 branches and 316 ATMs located in Connecticut; Massachusetts; Rhode Island; and Westchester County, New York.
Valley National Bancorp, doing business as Valley Bank, is a regional bank holding company headquartered in Wayne, New Jersey, with approximately $64 billion in assets. Its principal subsidiary, Valley National Bank, currently operates over 230 branch locations and commercial banking offices across New Jersey, New York, Florida, Alabama, California, and Illinois. Valley Bank is one of the largest commercial banks headquartered in New Jersey.
New York Community Bancorp, Inc. (NYCB) is a bank holding company headquartered in Hicksville, New York. The holding company owns several businesses, most notably New York Community Bank and Flagstar Bank. In 2023, the two banks operated 395 branches in New York, Michigan, New Jersey, Ohio, Florida and Arizona. Some branches bear the New York Community Bank name, while others operate under other names. NYCB is on the list of largest banks in the United States.
Apple Bank for Savings is a savings bank headquartered in Manhasset, New York and operating in the New York metropolitan area.
Firstar Corporation was a Milwaukee, Wisconsin-based regional bank holding company that existed from 1853 to 2001. In 2001, Firstar acquired U.S. Bancorp and assumed its name, moving its headquarters to Minneapolis.
WesBanco, Inc., is a bank holding company headquartered in Wheeling, West Virginia. It has over 200 branches in West Virginia, Ohio, Western Pennsylvania, Kentucky, Maryland, and Southern Indiana.
Hudson City Bancorp, Inc., based in Paramus, in the U.S. state of New Jersey, was a bank-holding company for Hudson City Savings Bank, its only subsidiary, then the largest savings bank in New Jersey and one of the oldest banks in the United States, with US$50 billion in assets. It is now a fully publicly held entity and a member S&P 500 stock market Index. In 2005, its US$3.93 billion secondary offering of common stock was the largest in United States banking history. At the time, it was also the seventh largest domestic public offering in United States history The bank avoided the excesses of the housing boom and was labeled "best bank of 2007" by Forbes. M&T Bank agreed to acquire Hudson City on August 27, 2012.
Mercantile Bancorporation was the largest bank holding company in Missouri when it was acquired by Firstar Corporation in 1999.
Sterling Bancorp was a regional bank holding company. It merged into Webster Financial Corporation in February 2022; their principal subsidiaries, Sterling National Bank and Webster Bank, were also merged, in the process.
Monte N. Redman is a director of Sterling Bancorp and the Tourette Association of America.
Sterling Financial Corporation was a bank holding company headquartered in Spokane, Washington. In 2014, the company was acquired by Umpqua Holdings Corporation.
INB Financial Corporation was an Indianapolis-based statewide bank holding company that was the largest Indiana-based financial institution at the time it was acquired by Michigan-based NBD Bancorp in 1992. Its primary subsidiary was the Indianapolis-based INB National Bank, formerly the Indiana National Bank, which can trace its origins to the founding of the Second State Bank of Indiana in 1834.
Star Banc Corporation was a Cincinnati, Ohio-based regional bank holding company that acquired Firstar in 1998 and took the Firstar name; the merged bank acquired U.S. Bancorp in 2001 and took the U.S. Bancorp name. The company can trace its origins back to 1863 when it was first founded as the First National Bank of Cincinnati.