Roundup: Astoria Absorbing L.I. Savings Bank

Astoria Financial Corp. said it completed the conversion of Long Island Savings Bank's retail operations over the Columbus Day weekend.

All of Long Island Savings' 35 banking offices and 300,000 customer deposit accounts were integrated into Astoria Federal's systems, the thrift said.

Astoria will now turn its attention to folding in Long Island Savings' mortgage servicing system. That conversion is scheduled to be complete by the end of this month.

Astoria announced in April that it had a deal to buy Long Island Savings for $1.2 billion in stock. The transaction closed Sept. 30.

Astoria now has assets of $18.1 billion and 96 branches.

According to Peter J. Cunningham, vice president of investor relations, the thrift plans to close five Long Island Savings branches-three in the New York City borough of Queens and one each in Nassau and Suffolk counties-during the first quarter.

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