Sterling Bancorp in Montebello, N.Y., is one step closer to completing its purchase of Astoria Financial in Lake Success, N.Y.
The companies said in a press release Wednesday that the Office of the Comptroller of the Currency had approved the $2.2 billion transaction. Shareholders at each company approved the deal in June.
The deal still needs approval from the Federal Reserve. The companies said they hope to complete it early in the fourth quarter.
The deal was initially
With the acquisition, the $14.6 billion-asset Sterling would nearly double in size.