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Shareholders approve NY Community Bank deal for Astoria

New York Community Bancorp's takeover of Astoria Financial

New York Community Bancorp's takeover of Astoria Financial Corp. was approved by both banks' shareholders, the two companies said Tuesday. Photo Credit: Danielle Finkelstein

New York Community Bancorp’s takeover of Astoria Financial Corp. was approved by both banks’ shareholders, the two financial institutions announced Tuesday.

The deal still is subject to federal and New York State regulatory approval, but is expected to close in this year’s fourth quarter.

Tuesday afternoon’s announcement said shareholders of both bank holding companies held special meetings earlier in the day and that, at both, 97 percent of voting shareholders approved the merger.

Westbury-based New York Community, parent of New York Community Bank and the largest Long Island bank holding company by assets and stock market value, announced plans in October to acquire Astoria Financial, parent of Astoria Bank, which has 88 branches and is based in Lake Success.

The merged company would have 202 branches in Nassau, Suffolk, Queens and Brooklyn, the companies said. Including branches elsewhere, the combined company would have 241 branches in the metropolitan area, and more than 350 overall. The bank’s assets would total $64.1 billion.

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