Termination of the Merger Agreement with New York Community Bancorp, Inc.

12 Months Ended

Dec. 31, 2016

Business Combinations [Abstract]

Termination of the Merger Agreement with New York Community Bancorp, Inc.

Termination of the Merger Agreement with New York Community Bancorp, Inc.

On October 28, 2015, Astoria entered into an Agreement and Plan of Merger, or the Merger Agreement, with New York Community Bancorp, Inc., a Delaware corporation, or NYCB, which provided for the merger of Astoria with and into NYCB, with NYCB as the surviving corporation, such merger referred to as the Merger. On November 19, 2016, NYCB announced that, based on discussions with its regulators, it did not expect to receive the regulatory approvals required to consummate the Merger by the end of 2016, noting that failure to complete the Merger by that date would allow either party to terminate the Merger Agreement. On December 20, 2016, Astoria and NYCB announced that their boards of directors had mutually agreed to terminate the Merger Agreement effective January 1, 2017.