Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sat, December 4, 3:25 AM
|This Slide: #494 of 573|
Slide #494. Astoria Financial Corporation — Preferred Stock Offering
Astoria Financial Corporation (AF)
Preferred Stock Offering Details:
Astoria Financial Corporation (NYSE: AF) ("Astoria", the "Company"), the holding company for Astoria Federal Savings and Loan Association ("Astoria Federal"), today announced the pricing of an underwritten public offering of 5,400,000 depositary shares, each representing a 1/40th interest in a share of its Series C Non-Cumulative Perpetual Preferred Stock, par value $1.00 per share and liquidation preference of $1,000 per share, at an offering price of $25.00 per depositary share, for gross proceeds of $135,000,000. The Company has also granted the underwriters a 30-day option to purchase up to an additional 600,000 depositary shares to cover over-allotments, if any, at the same price, for potential additional gross proceeds of $15,000,000.
Astoria Financial is the unitary savings and loan holding company of Astoria Bank and its subsidiaries (Astoria Bank). Astoria Bank's primary business is accepting retail deposits from the general public and businesses and investing those deposits, together with funds generated from operations, principal repayments on loans and securities and borrowings, primarily in multi-family and commercial real estate mortgage loans, one-to-four family, or residential, mortgage loans, and mortgage-backed securities. Astoria Bank also invests in consumer and other loans, and government-sponsored enterprise securities. At Dec 31 2016, Co. had total assets of $14.56 billion and deposits of $8.88 billion.
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Hold (2.25 out of 4)
(ranked higher than approx. 99% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com