-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Vuh9EEQoJq8Y2y6S87lARieB0kttycQb1mV6ukfcyhTTsNJSTbkhNlfR3J95KRKR dUQWC8YDAKhUB7cNGgMiVw== 0001144204-08-051796.txt : 20080909 0001144204-08-051796.hdr.sgml : 20080909 20080909085204 ACCESSION NUMBER: 0001144204-08-051796 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20080909 ITEM INFORMATION: Other Events FILED AS OF DATE: 20080909 DATE AS OF CHANGE: 20080909 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ASTORIA FINANCIAL CORP CENTRAL INDEX KEY: 0000910322 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 113170868 STATE OF INCORPORATION: DE FISCAL YEAR END: 0319 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11967 FILM NUMBER: 081062035 BUSINESS ADDRESS: STREET 1: ONE ASTORIA FEDERAL PLAZA CITY: LAKE SUCCESS STATE: NY ZIP: 11042-1085 BUSINESS PHONE: 5163273000 MAIL ADDRESS: STREET 1: ONE ASTORIA FEDERAL PLAZA CITY: LAKE SUCCESS STATE: NY ZIP: 11042-1085 8-K 1 v125910_8k.htm Unassociated Document
UNITED STATES
 
SECURITIES AND EXCHANGE COMMISSION
 
WASHINGTON, D.C. 20549
 
 
FORM 8-K
CURRENT REPORT
 
 
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
Date of report (Date of earliest event reported): September 9, 2008
 
 
Astoria Financial Corporation
(Exact name of registrant as specified in its charter)
 
 
Delaware
  
001-11967
  
11-3170868
(State or other jurisdiction of
incorporation or organization)
  
(Commission File Number)
  
(IRS Employer
Identification No.)
 
 
ONE ASTORIA FEDERAL PLAZA, LAKE SUCCESS, NEW YORK 11042-1085
(Address of principal executive offices, including zip code)
 
Registrant’s telephone number, including area code: (516) 327-3000
 
NOT APPLICABLE
(Former name or former address, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 
 
 
Item 8.01. Other Events.
 
On September 7, 2008, the U.S. Treasury announced a plan to place Freddie Mac under conservatorship under the authority of the Federal Housing Finance Agency (“FHFA”). As of June 30, 2008, Astoria Financial Corporation (the “Company”) owned two preferred securities issued by Freddie Mac, Series H, 5.10% par value $100 million and Series L, 3.58% par value $20 million, with a combined adjusted book value of $83.7 million. The estimated fair market value of these available-for-sale securities has declined significantly from June 30, 2008. Based on the recent actions by the U.S. Treasury, it is likely that the decrease in fair market value will result in an other-than-temporary impairment non-cash charge recognized for the quarter ending September 30, 2008. The non-cash after-tax charge would have minimal impact on the Company’s capital position which would continue to remain within its capital target range of between 4.50% and 4.75%. The Company’s banking subsidiary, Astoria Federal Savings and Loan Association, would continue to remain well capitalized with regulatory core and tangible capital in excess of 6%.
 
Additionally, the FHFA has suspended dividend payments on the preferred stock of Freddie Mac which, for the Company, totals approximately $5.8 million, pre-tax, annually.
 
 
 
 
 
SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
     
 
ASTORIA FINANCIAL CORPORATION
 
 		  
 		  
 
By:   /s/ Peter J. Cunningham
 
Peter J. Cunningham
 
First Vice President and Director of Investor Relations
 
 
Dated: September 9, 2008

 
 
 
 -----END PRIVACY-ENHANCED MESSAGE-----