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Sterling Bancorp and Astoria Financial Corporation Announce OCC Approval

August 16, 2017

Sterling Bancorp (NYSE:STL), the holding company for Sterling National Bank and Astoria Financial Corporation (NYSE:AF), the holding company for Astoria Bank, announced today that the Office of the Comptroller of the Currency (“OCC”) has approved the merger of Astoria with and into Sterling (the “Merger”). The transaction, which was announced March 7, 2017 and approved by the shareholders of Astoria Financial Corporation and Sterling Bancorp on June 13, 2017, remains subject to other customary closing conditions, including the approval of the Board of Governors of the Federal Reserve System. Assuming such conditions are satisfied, Sterling Bancorp and Astoria Financial Corporation expect to complete the Merger early in the fourth calendar quarter of 2017.

Learn more about the merger.