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					ASTORIA FINANCIAL CORP
10-K405
03/28/1997

FEDERALLY CHARTERED SAVINGS ASSOCIATION REGULATION




                                 AT DECEMBER 31, 1996

               CAPITAL                  ACTUAL                     EXCESS
             REQUIREMENT               CAPITAL                    CAPITAL

                                (Dollars in Thousands)


Tangible         107,214 1.5%                    404,016 5.65%    296,802 4.15%

Leverage         214,428 3.00                    404,016   5.65   189,588   2.65

Risk-based       203,773 8.00                    418,038 16.41    214,265   8.41


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ASTORIA FINANCIAL CORP
10-K405
03/28/1997

FEDERALLY CHARTERED SAVINGS ASSOCIATION REGULATION




                                                                   AT DECEMBER 31,

                                             1996                       1995

                                                        PERCENT                         PERCENT
                                            AMOUNT      OF TOTAL       AMOUNT           OF TOTAL




SECURITIES AVAILABLE-FOR-SALE:
  Mortgage-Backed and Mortgage-
    Related Securities:
    FHLMC                                     261,597 11.39%               335,837 13.35%
    GNMA                                      236,688     10.31            159,412      6.34
    FNMA                                       46,114      2.01            148,424      5.90
    REMICs:
      Agency issuance                       1,135,607      49.45         1,120,676         44.54
      Private issuance                         15,455       0.67            22,401          0.89
    Other Mortgage-Related                    404,915      17.63           546,072         21.71
  Obligations of U.S. Government and
     Agencies                                 127,602       5.56           150,567          5.98
  Equity Securities                            68,620       2.98            32,503          1.29
  Other                                            64                           76

          Total Securities
             Available-for-Sale             2,296,662 100.00%            2,515,968 100.00%

SECURITIES HELD-TO-MATURITY:
  Mortgage-Backed and Mortgage-
    Related Securities:
   FHLMC                                       28,181 1.43%                 36,490 2.25%
   GNMA                                        86,457       4.40           105,281       6.49
   FNMA                                        22,056       1.12            24,615       1.52
   CMOs                                         6,484       0.33            10,694       0.66
   REMICs:
      Agency issuance                         940,657      47.84           994,373         61.27
      Private issuance                        242,480      12.33           168,639         10.39
   Other Mortgage-Related                         351       0.02               354          0.02
  Obligations of U.S. Government
    and Agencies                              578,485      29.42           220,200         13.57
  Obligations of States and
    Political Subdivisions                     51,206       2.60               52,019       3.21
  Corporate Debt Securities                    10,093       0.51               10,140       0.62

          Total Securities
            Held-to-Maturity                1,966,450 100.00%            1,622,805 100.00%

          Net discount                        (5,435)                      (7,263)

          Net Securities
            Held-to-Maturity                1,961,015                    1,615,542



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   1994

              PERCENT
  AMOUNT      OF TOTAL




     27,892      50.21




     27,658      49.79




     55,550 100.00%




    122,900 4.60%
    123,113       4.61
     69,788       2.61
     10,440       0.39

  1,902,915      71.16
    151,437       5.66
        369       0.01

    240,200       8.98

     52,797       1.97
        312       0.01


  2,674,271 100.00%

(14,738)


2,659,533
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

FEDERALLY CHARTERED SAVINGS ASSOCIATION REGULATION




                                      ONE YEAR                         ONE TO
                                      OR LESS                        FIVE YEARS

                                                 ANNUALIZED                                 ANNUALIZED
                                                  WEIGHTED                                   WEIGHTED
                                      CARRYING    AVERAGE             CARRYING               AVERAGE
                                       VALUE       YIELD               VALUE                  YIELD

                                                               (DOLLARS IN THOUSANDS)


FEDERAL FUNDS SOLD AND
 REPURCHASE AGREEMENTS                  56,000 6.68%

FHLB STOCK(1)

MORTGAGE-BACKED, MORTGAGE-
 RELATED AND OTHER SECURITIES
 AVAILABLE-FOR-SALE:
  Pass-throughs guaranteed by
      FHLMC                             69,054 6.32%
      GNMA
      FNMA                                 147          8.99                        2,944         7.69
   REMICs:
        Agency issuance                    985         30.00
        Private issuance                 1,294         30.00
      Other pass-throughs(2)
    Obligations of the U.S.
    Government and agencies             45,057          6.42                       82,545         6.35
  Equity securities(1)
  Other securities

    TOTAL AVAILABLE-FOR-
      SALE SECURITIES:                 116,537          6.83                       85,489         6.40

MORTGAGE-BACKED, MORTGAGE-
 RELATED AND OTHER SECURITIES
 HELD-TO-MATURITY:
     Pass-throughs guaranteed by
         FHLMC                                                                      1,463 8.54%
         GNMA                               13         10.46                        1,396        9.98
         FNMA                                                                           7       12.00
   CMOs                                                                             1,513        8.84
   REMICs:
         Agency issuance
         Private issuance
     Other pass-throughs(2)
   Obligations of the U.S.
        Government and agencies .                                                 105,200         5.67
   Obligations of states and
        political subdivisions             540          3.25                        2,566         3.39
   Other securities                                                                 9,953         6.09

    TOTAL HELD-TO-MATURITY
      SECURITIES:                          553          3.42                      122,098         5.78
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 FIVE TO
TEN YEARS

            ANNUALIZED
             WEIGHTED
CARRYING     AVERAGE
 VALUE        YIELD




  187,815         6.18




       20         9.00


  187,835         6.18




    5,119 6.87%
   11,372         7.56
      788         9.38


   87,910         6.35



  370,043         7.52

    1,791         3.71
       93         6.50


  477,116         7.28
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

FEDERALLY CHARTERED SAVINGS ASSOCIATION REGULATION




                                      MORE THAN                              TOTAL SECURITIES
                                      TEN YEARS
                                                                 AVERAGE
                                                  ANNUALIZED     LIFE BY
                                                   WEIGHTED    CONTRACTUAL
                                      CARRYING     AVERAGE       MATURITY        CARRYING
                                       VALUE        YIELD       (IN YEARS)        VALUE




FEDERAL FUNDS SOLD AND
 REPURCHASE AGREEMENTS                                                0.01             56,000

FHLB STOCK(1)                            32,354         6.61                           32,354

MORTGAGE-BACKED, MORTGAGE-
 RELATED AND OTHER SECURITIES
 AVAILABLE-FOR-SALE:
  Pass-throughs guaranteed by
      FHLMC                             192,543 7.24%                18.14            261,597
      GNMA                              236,688         6.96         27.71            236,688
      FNMA                               43,023         7.47         18.41             46,114
   REMICs:
        Agency issuance                 946,807         6.32         19.65          1,135,607
        Private issuance                 14,161         7.02         24.89             15,455
      Other pass-throughs(2)            404,915         7.49         24.82            404,915
    Obligations of the U.S.
    Government and agencies                                           1.73            127,602
  Equity securities(1)                   68,620         6.50                           68,620
  Other securities                           44         9.47         15.86                 64

   TOTAL AVAILABLE-FOR-
     SALE SECURITIES:                 1,906,801         6.78         19.65         $2,296,662

MORTGAGE-BACKED, MORTGAGE-
 RELATED AND OTHER SECURITIES
 HELD-TO-MATURITY:
     Pass-throughs guaranteed by
        FHLMC                            21,607 8.56%                11.02             28,189
        GNMA                             73,952         8.42         13.26             86,733
        FNMA                             21,249         6.36         15.34             22,044
     CMOs                                 4,937         6.64         16.80              6,450
   REMICs:
        Agency issuance                 848,782         6.52         21.12            936,692
        Private issuance                241,154         6.57         23.10            241,154
     Other pass-throughs(2)                 351         8.14         20.09                351
   Obligations of the U.S.
       Government and agencies .        103,050         8.00          8.73            578,293
   Obligations of states and
       political subdivisions            46,166         6.69         19.64             51,063
   Other securities                                                   1.98             10,046

   TOTAL HELD-TO-MATURITY
     SECURITIES:                      1,361,248   6.80   17.00   $1,961,015




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                            ANNUALIZED
      ESTIMATED              WEIGHTED
         FAIR                AVERAGE
        VALUE                 YIELD

(DOLLARS IN THOUSANDS)




                   56,000 6.68%

                   32,354         6.61




                  261,597 7.00%
                  236,688         6.96
                   46,114         7.49

              1,135,607           6.32
                 15,455           8.94
                404,915           7.49

                  127,602         6.38
                   68,620         6.50
                       64         9.34


             $2,296,662           6.72




                   29,194 8.25%
                   90,455         8.33
                   21,508         6.47
                    6,451         7.16

                  926,095         6.50
                  234,953         6.57
                      351         6.47

                  576,290         7.27

                   50,982         6.38
                   10,066         6.09
$1,946,345   6.84
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

FEDERALLY CHARTERED SAVINGS ASSOCIATION REGULATION




                                                                     AT DECEMBER 31,

                                             1996                          1995

                                                        PERCENT                                PERCENT
                                                           OF                                     OF
                                            AMOUNT       TOTAL            AMOUNT                TOTAL

                                                                  (DOLLARS IN THOUSANDS)


MORTGAGE LOANS (GROSS):
   One-to-four family                       2,259,409 85.18%                       1,748,284 84.82%
   Multi-family                               166,836     6.29                       109,944     5.34
   Commercial real estate                     158,100     5.96                       128,668     6.24
   Construction and land                       10,129     0.38                        12,598     0.61

    Total mortgage loans                    2,594,474     97.81                    1,999,494     97.01

CONSUMER AND OTHER LOANS (GROSS):
   Home equity                                 34,895      1.32                       38,761      1.88
   Passbook                                     4,022      0.15                        2,915      0.14
   Credit card                                  8,431      0.32                        8,578      0.42
   Other                                       10,761      0.40                       11,420      0.55


    Total other loans                          58,109      2.19                       61,674      2.99

    Total loans                             2,652,583 100.00%                      2,061,168 100.00%

LESS:
   Unearned discount, premium,
      deferred loan fees, net                 (1,167)                                (4,030)
   Allowance for loan losses                 (14,089)                               (13,495)

    Total loans, net                        2,637,327                              2,043,643




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    1994

                PERCENT
                   OF
   AMOUNT        TOTAL




    1,345,936 84.49%
       92,506     5.81
       87,557     5.50
       19,373     1.22

    1,545,372     97.02


       27,225      1.71
        1,979      0.12
        8,635      0.54
        9,704      0.61


       47,543      2.98

    1,592,915 100.00%




(5,982)
(12,173)

1,574,760
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

FEDERALLY CHARTERED SAVINGS ASSOCIATION REGULATION




                                                        AT DECEMBER 31,

                                             1993                                         1992

                                                            PERCENT
                                                               OF
                                            AMOUNT           TOTAL                       AMOUNT

                                                                              (DOLLARS IN THOUSANDS)




MORTGAGE LOANS (GROSS):
   One-to-four family                       1,259,808 82.20%                                      1,393,343
   Multi-family                                99,108                 6.47                          106,477
   Commercial real estate                      66,492                 4.34                           78,881
   Construction and land                       44,757                 2.92                           70,505

    Total mortgage loans                    1,470,165             95.93                           1,649,206

CONSUMER AND OTHER LOANS (GROSS):
   Home equity                                 31,885                 2.08                           33,911
   Passbook                                     7,676                 0.50                            8,846
   Credit card                                  9,385                 0.61                            8,440
   Other                                       13,404                 0.88                           19,678


    Total other loans                          62,350                 4.07                           70,875

    Total loans                             1,532,515 100.00%                                     1,720,081

LESS:
   Unearned discount, premium,
      deferred loan fees, net                 (8,877)                        (11,392)
   Allowance for loan losses                 (16,672)                        (15,750)

    Total loans, net                        1,506,966                        1,692,939




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PERCENT
   OF
 TOTAL




81.00%
    6.19
    4.59
    4.10

  95.88


   1.97
   0.51
   0.49
   1.15


   4.12

100.00%
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

LOAN MATURITY, REPRICING AND ACTIVITY




                                             ONE-TO
                                              FOUR       MULTI-      COMMERCIAL
                                             FAMILY      FAMILY     REAL ESTATE




Amounts due:
  Within one year                                2,757      4,354         3,138
  After one year:
     One to three years                         11,568     14,224        16,568
     Three to five years                        17,116     12,797        42,545
     Five to 10 years                          303,819     33,436        26,940
     10 to 20 years                            964,566     93,517        67,132
     Over 20 years                             959,583      8,508         1,777

           Total due after one year          2,256,652    162,482       154,962

           Total amounts due                 2,259,409    166,836       158,100

 Unearned discounts, premiums and deferred
    loan fees, net
 Allowance for loan losses

    Loans receivable, net



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AT DECEMBER 31, 1996

                          CONSUMER     TOTAL
   CONSTRUCTION             AND        LOANS
     AND LAND              OTHER     RECEIVABLE

  (In Thousands)




                  5,057     10,708       26,014

                  4,730      5,993       53,083
                    283      2,574       75,315
                     59      1,130      365,384
                            37,704    1,162,919
                                        969,868

                  5,072     47,401    2,626,569

               10,129       58,109    2,652,583


                                        (1,167)
                                       (14,089)

                                      2,637,327
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

LOAN MATURITY, REPRICING AND ACTIVITY




                                            Due After December 31, 1997

                                Fixed               Adjustable               Total

                                                  (In Thousands)


MORTGAGE LOANS:
  One-to-four family            1,145,084                        1,111,568   2,256,652
  Multi-family                     60,370                          102,112     162,482
  Commercial real estate           95,935                           59,027     154,962
  Construction and land.            2,334                            2,738       5,072
CONSUMER AND OTHER LOANS            9,701                           37,700      47,401

 Total loans                    1,313,424                        1,313,145   2,626,569




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ASTORIA FINANCIAL CORP
10-K405
03/28/1997

LOAN MATURITY, REPRICING AND ACTIVITY




                                                        Year Ended December 31,

                                            1996                 1995               1994

                                                            (In Thousands)


MORTGAGE LOANS (GROSS):
 At beginning of year                       1,999,494                   1,545,372   1,470,165

Mortgage loans originated:
 One-to-four family                           502,814                     142,559     166,570
 Multi-family                                  66,213                      28,915      20,740
 Commercial                                    42,508                      29,061      29,665
 Construction and land loans                    1,200                       2,171       4,396

   Total mortgage loans
    originated                                612,735                     202,706     221,371

Purchases of mortgage loans:
  Bulk purchases                               60,228                     128,280      10,907
  Third party loan origination
    program (1)                               255,761                     122,364     151,946
Fidelity mortgage loans acquired                                          236,961
Sales of mortgage loans                       (9,740)                     (3,606)       (176)
Transfer of loans to REO                      (6,842)                    (10,296)    (15,318)
Principal repayments                        (313,158)                   (217,735)   (285,596)
Loans charged off                             (4,004)                     (4,552)     (7,927)

At end of year                              2,594,474                   1,999,494   1,545,372


CONSUMER AND OTHER LOANS (GROSS):
 At beginning of period                        61,674                      47,543      62,350
       Other loans originated                  29,115                      22,446      17,986
       Fidelity consumer loans acquired                                    21,508
       Sales of other loans                   (1,503)                     (1,155)       (936)
       Transfer of loans to REO                 (211)
       Principal repayments                  (30,477)                    (27,936)    (31,448)
       Loans charged off                        (489)                       (732)       (409)

At end of year                                 58,109                      61,674      47,543



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ASTORIA FINANCIAL CORP
10-K405
03/28/1997

LOAN MATURITY, REPRICING AND ACTIVITY




                                               AT DECEMBER 31, 1996

                              60-89 DAYS                                  90 DAYS OR MORE

                                NUMBER                PRINCIPAL               NUMBER
                                  OF                   BALANCE                  OF
                                LOANS                  OF LOANS               LOANS




One-to-four family                       73                       3,901                276
Multi-family                              6                       1,226                 13
Commercial real estate                    2                         823                 13
Construction                                                                             4
Consumer and other loans                 52                         337                 92

Total loans                             133                       6,287                398

Delinquent loans to total
 loans                                        0.24%


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                                              AT DECEMBER 31, 1995

                             60-89 DAYS                                  90 DAYS OR MORE

        PRINCIPAL              NUMBER                PRINCIPAL               NUMBER         PRINCIPAL
         BALANCE                 OF                   BALANCE                  OF            BALANCE
         OF LOANS              LOANS                  OF LOANS               LOANS           OF LOANS

 (Dollars in Thousands)


                    25,098          118                          8,173                366       33,384
                     3,651            3                            336                 17        2,851
                     3,301            3                            384                 21        4,698
                       251                                                             10        2,271
                     1,159              47                         622                 65        1,276

                    33,460          171                          9,515                479       44,480


1.26%                                        0.46%                                          2.16%
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

LOAN MATURITY, REPRICING AND ACTIVITY




                                                AT DECEMBER 31, 1994

                              60-89 DAYS                                  90 DAYS OR MORE

                                NUMBER                PRINCIPAL               NUMBER         PRINCIPAL
                                  OF                   BALANCE                  OF            BALANCE
                                LOANS                  OF LOANS               LOANS           OF LOANS

                                               (Dollars in Thousands)


One-to-four family                      142                       8,002                272       29,326
Multi-family                              3                         540                 35        6,784
Commercial real estate                    2                         198                 18       23,009
Construction                              1                           7                 21        6,899
Consumer and other loans                 31                          97                 67          920

Total loans                             179                       8,844                413       66,938

Delinquent loans to total
 loans                                        0.56%                                          4.20%


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ASTORIA FINANCIAL CORP
10-K405
03/28/1997

LOAN MATURITY, REPRICING AND ACTIVITY




                                                                      AT DECEMBER 31,

                                                  1996(1)   1995(1)       1994(1)       1993

                                                                      (In Thousands)


Non-accrual delinquent mortgage loans (2)          24,905    37,394            56,037    76,322
Non-accrual delinquent consumer and other loans     1,159     1,276               920     1,335
Mortgage loans delinquent 90 days or more (3) .     7,396     5,810             9,981    21,159

      Total non-performing loans                   33,460    44,480            66,938    98,816

Real estate owned, net (4)                          7,421    17,677            18,898    24,863
Investments in real estate, net (5)                 4,708     5,654             7,480     7,278

    Total real estate owned and
      investments in real estate, net              12,129    23,331            26,378    32,141

Total non-performing assets                        45,589    67,811            93,316   130,957




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1992




103,211
    835
 23,751

127,797

 21,262
 15,166


 36,428

164,225
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

LOAN MATURITY, REPRICING AND ACTIVITY




                                        SPECIAL MENTION                 SUBSTANDARD

                                            NUMBER        AMOUNT           NUMBER            AMOUNT

                                                                   (DOLLARS IN THOUSANDS)


LOANS:
   One-to-four family                                                                  260 30,537
   Multi-family                                      11    3,831                        13  3,359
   Commercial                                                                           15 24,355
   Construction and land                                                                 1    230
   Consumer and other loans                                                             91  1,151

      Total                                          11    3,831                       380 59,632

REAL ESTATE OWNED AND INVESTMENTS
  IN REAL ESTATE:
   One-to-four family                                                                   71    6,546
   Multi-family                                                                          1       68
   Commercial                                                                            3      695
   Construction and land                                                                 3    6,864

    Total                                                                               78 14,173

  TOTAL                                              11    3,831                       458 73,805




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DOUBTFUL

    NUMBER       AMOUNT




             8      560
             0
             0
             0
             1        8
             0
             9      568
             0


             0
             0
             0
             0
             0
             0
             0
             9      568
=
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

IV. ALLOWANCE FOR LOAN, INVESTMENTS IN REAL ESTATE AND REAL ESTATE OWNED ("REO")




                                                       1996            1995




ALLOWANCE FOR LOAN LOSSES:
Balance at beginning of                                 13,495          12,173
   Allowance of acquired institution                                     3,528
   Provision charged to operations                          3,963        2,007
   Charge-offs:
     One-to-four family                                (2,634)         (3,213)
     Multi-family                                        (115)           (330)
     Commercial                                        (1,254)           (455)
     Construction and land                                 (1)           (554)
     Consumer and other                                  (489)           (732)

           Total charge-offs                           (4,493)         (5,284)
   Recoveries:
     One-to-four family                                       381             552
     Multi-family                                              22
     Commercial                                                96
     Construction and land                                    531             259
     Consumer and other                                        94             260

       Total recoveries                                     1,124           1,071

Balance at end of year                                  14,089          13,495

Ratio of net charge-offs during the year
to average loans outstanding during the year .      0.14%           0.22%

Ratio of allowance for loan losses to total
loans at end of the year                                     0.53            0.65

Ratio of allowance for loan losses to
non-performing loans at end of the
year                                                        42.11           30.34

ALLOWANCE FOR INVESTMENTS
  IN REAL ESTATE AND REO LOSSES:
Balance at beginning of year                                3,746        5,250
   Allowance of acquired institution                                     1,144
   (Recovery)/provision recorded to operations         (1,747)             259
   Charge-offs                                         (1,620)         (3,997)
   Recoveries                                            1,666           1,090

Balance at end of year                                      2,045           3,746



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  At or For the Years Ended December 31,

          (Dollars in Thousands)

                   1994                            1993            1992




                                    16,672          15,750          14,789

                                     3,733              6,959       11,553

                                   (4,928)               (19)      (5,571)
                                     (615)                           (217)
                                   (1,750)           (365)           (562)
                                     (634)         (5,200)         (4,440)
                                     (409)           (490)           (810)

                                   (8,336)         (6,074)        (11,600)

                                            6                              59

                                                                          834
                                                                           87
                                           98              37              28

                                       104                 37           1,008

                                    12,173          16,672          15,750


0.55%                                           0.37%           0.58%


                                      0.76               1.09            0.92



                                     18.19              16.87           12.32




                                     4,741              1,898           2,252

                                     3,017           6,020           3,546
                                   (3,744)         (3,744)         (5,217)
                                     1,236             567           1,317

                                     5,250              4,741           1,898
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

IV. ALLOWANCE FOR LOAN, INVESTMENTS IN REAL ESTATE AND REAL ESTATE OWNED ("REO")




                                                    AT DECEMBER 31,

                             1996                        1995

                                      % of Loans                        % of Loans
                                     in Category                       in Category
                                          to                                to
                            Amount   Total Loans        Amount         Total Loans




One-to-four family           8,002 85.18%                        7,164 84.82%
Multi-family                 1,214           6.29                  593           5.34
Commercial                   3,903           5.96                4,694           6.24
Construction                   215           0.38                  269           0.61
Consumer and other loans       755           2.19                  775           2.99

  Total allowances          14,089 100.00%                      13,495 100.00%




____________________________
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("REO")




                   1994

                                    % of Loans
                                   in Category
                                        to
                  Amount           Total Loans

          (Dollars in Thousands)


                            5,278 84.49%
                              492           5.81
                            5,077           5.50
                              674           1.22
                              652           2.98

                           12,173 100.00%
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

IV. ALLOWANCE FOR LOAN, INVESTMENTS IN REAL ESTATE AND REAL ESTATE OWNED ("REO")




                                     AT DECEMBER 31,

                             1993                       1992

                                        % of Loans               % of Loans
                                       in Category              in Category
                                            to                       to
                            Amount     Total Loans     Amount   Total Loans




One-to-four family           8,903 82.20%               9,145 81.00%
Multi-family                   743              6.47    1,206           6.19
Commercial                   4,751              4.34    2,782           4.59
Construction                 1,621              2.92    2,057           4.10
Consumer and other loans       654              4.07      560           4.12

  Total allowances          16,672 100.00%             15,750 100.00%




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ASTORIA FINANCIAL CORP
10-K405
03/28/1997

IV. ALLOWANCE FOR LOAN, INVESTMENTS IN REAL ESTATE AND REAL ESTATE OWNED ("REO")




                                                 For the years ending December 31,

                                  1996                           1995                          1994

                                                        (Dollars in Thousands)


Opening balance                   4,263,421                                 3,280,652          2,898,372

Fidelity deposits assumed                                                   1,053,440
Net deposits (withdrawals)            58,425                                (254,212)               266,612
Interest credited (1)                191,247                                  183,541               115,668

                                  4,513,093                                 4,263,421          3,280,652
Ending balance
Net increase                         249,672                                     982,769            382,280

Percentage increase          5.86%             29.96%                                      13.19%


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ASTORIA FINANCIAL CORP
10-K405
03/28/1997

IV. ALLOWANCE FOR LOAN, INVESTMENTS IN REAL ESTATE AND REAL ESTATE OWNED ("REO")




                                            Amount

                                      (In Thousands)


MATURITY PERIOD
   Three months or less                         98,516
   Over three through six months                49,097
   Over six through twelve months               51,399
   Over twelve months                           99,467

        Total                                  298,479




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ASTORIA FINANCIAL CORP
10-K405
03/28/1997

IV. ALLOWANCE FOR LOAN, INVESTMENTS IN REAL ESTATE AND REAL ESTATE OWNED ("REO")




                                                  1996




                                                           Weighted
                                                Percent    Average
                                   Average      Of Total   Nominal    Average
                                   Balance      Deposits     Rate     Balance




Savings                             1,146,243 25.98%    2.50%          1,176,433
NOW                                   114,110      2.59       1.98       240,032
Non-Interest Bearing                   57,511      1.31                   39,267
Money market                          237,709      5.40       3.78       196,767
Money manager                         148,871      3.38       1.97

       Total                        1,704,444      38.66       2.51    1,652,499


Certificates of Deposit(1):
    3 month                            36,808       0.84       3.28       37,137
    6 month                           148,646       3.38       3.78      166,458
    9 month                           134,786       3.06       4.30      275,674
    1 year                            272,114       6.18       4.69      350,154
    13 month                                                              23,144
    15 month                          178,927       4.06       5.35       17,393
    1 1/2 year                        347,098       7.89       5.55      612,897
    18 month variable IRA .             5,828       0.13       3.74        6,700
    2 year                            498,908      11.34       5.77        1,519
    2 1/2 year                        345,402       7.85       5.87      379,206
    3 1/2 year                         45,695       1.04       5.35       55,576
    5 year                            548,198      12.46       6.18      504,487
    6 year                             26,651       0.60       6.77       31,599
    Jumbo                             109,765       2.49       5.10       79,487
    Other CDS                             714       0.02       6.52        3,111

       Total                        2,699,540      61.34       5.46    2,544,542

           Total deposits .         4,403,984 100.00%          4.32    4,197,041




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"REO")




          YEAR ENDED DECEMBER 31,

                    1995                                            1994

          (Dollars in Thousands)

                                      Weighted                               Weighted
                   Percent            Average                     Percent    Average
                   Of Total           Nominal        Average      Of Total   Nominal
                   Deposits             Rate         Balance      Deposits     Rate




         28.03%                       2.50%           1,095,827 35.82%    2.50%
                               5.72           2.00      128,653      4.21       2.02
                               0.93                      20,054      0.65
                               4.69           3.58      100,896      3.30       2.49


                              39.37           2.50    1,345,430      43.98       2.42




                               0.89           3.90       43,124       1.41       2.78
                               3.97           4.42      113,912       3.73       2.93
                               6.57           5.93       51,629       1.69       3.13
                               8.34           4.92      390,482      12.76       3.80
                               0.55           5.47
                               0.42           5.48
                              14.60           5.52      350,528      11.46       4.57
                               0.16           4.47        8,620       0.28       3.13
                               0.04           4.32
                               9.04           5.61      228,857       7.48       5.18
                               1.32           5.40       61,558       2.01       6.08
                              12.02           6.37      420,388      13.74       6.69
                               0.75           6.99
                               1.89           5.49       42,476       1.39       3.91
                               0.07           5.31        2,114       0.07       7.55

                              60.63           5.58    1,713,688      56.02       4.83

         100.00%                              4.37    3,059,118 100.00%          3.77
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

IV. ALLOWANCE FOR LOAN, INVESTMENTS IN REAL ESTATE AND REAL ESTATE OWNED ("REO")




                                             Period to maturity from December 31, 1996

                                Within                        One-two                        Two-three
                               one year                        years                           years




CERTIFICATES OF DEPOSIT:

  2.99%   or less                   10,801
  3.00%   to 3.99%                 262,023                                           2,203           2
  4.00%   to 4.99%                 310,835                                          24,392         289
  5.00%   to 5.99%                 673,402                                         586,365      80,333
  6.00%   to 6.99%                 307,935                                         206,171      23,395
  7.00%   to 7.99%                  17,916                                             208       4,198
  8.00%   to 8.99%                      73                                              46
  9.00%   to 9.99%                                                                                 532
 10.00%   and over

             Total               1,582,985                                         819,385     108,749




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                               At December 31,

 Over three
   years            1996            1995         1994

(In Thousands)




              45      10,846             8,600     4,087
                     264,228           198,717   372,703
            31       335,547           365,264   472,324
        38,588     1,378,688         1,160,889   602,235
       222,820       760,321           713,922   441,427
         2,122        24,444           104,005    91,588
            25           144            23,518    26,325
                         532               788        33
                                                      55

       263,631     2,774,750         2,575,703 2,010,777
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

VII. BORROWINGS




                                                 1996




FHLB-NY ADVANCES:
  Average balance                                 203,819
  Maximum balance outstanding at any month
      end during the year                         266,562
  Balance outstanding at end of year              266,514
  Weighted average interest rate
      during the year                         6.26%
  Weighted average interest rate at end
      of year                                         6.13

REVERSE REPURCHASE AGREEMENTS:
  Average balance                               1,744,830
  Maximum balance of outstanding agreements
      at any month end during the year          1,910,801
  Balance outstanding at end of year            1,845,000
  Weighted average interest rate
      during the year                         5.58%
  Weighted average interest rate at end
      of year                                         5.65

TOTAL BORROWINGS:
  Average balance                               1,948,649
  Maximum balance outstanding at any month
      end during the year                       2,111,514
  Balance outstanding at end of year            2,111,514
  Weighted average interest rate
      during the year                         5.65%
  Weighted average interest rate at end
      of year                                         5.71


____________________________
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  At or For the Years Ended December 31,

                   1995                           1994

          (Dollars in Thousands)




                                    423,617        355,771

                                    650,349        366,849
                                    221,362        351,849

5.64%                                          4.71%

                                       6.25            5.03


                                    978,653        406,154

                                   1,510,530       435,000
                                   1,483,329       415,000

5.69%                                          4.30%

                                       5.69            5.07


                                   1,402,270       761,925

                                   1,751,637       801,849
                                   1,704,691       766,849

5.67%                                          4.49%

                                       5.76            5.05
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

VII. BORROWINGS




                                             ORIGINAL DATE      DATE OF
                                 LEASED OR     LEASED OR         LEASE
            LOCATION               OWNED        ACQUIRED     EXPIRATION(1)




EXECUTIVE OFFICE:

One Astoria Federal Plaza (2)    Owned       1990
Lake Success, NY

BANKING OFFICES:

37-16 30th Avenue                Owned       1938
Long Island City, NY

31-24 Ditmars Boulevard          Owned       1952
Long Island City, NY

63-72 108th Street               Leased             1956.00 Jan. 31, 2024
Forest Hills, NY

46-08 Francis Lewis Boulevard    Leased             1966.00 Dec. 31, 2018
Flushing, NY

75-25 Metropolitan Avenue        Owned       1973
Middle Village, NY

116-22 Metropolitan Avenue       Owned       1973
Kew Gardens, NY

29-34 30th Avenue                Owned       1975
Long Island City, NY

60-20 Woodside Avenue            Owned       1979
Woodside, NY

71-20 Kissena Boulevard          Leased             1979.00 April 30, 2008
Flushing, NY


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ASTORIA FINANCIAL CORP
10-K405
03/28/1997

VII. BORROWINGS




                                            ORIGINAL DATE       DATE OF
                               LEASED OR      LEASED OR          LEASE
           LOCATION              OWNED         ACQUIRED      EXPIRATION(1)




68-17 Myrtle Avenue           Owned         1979
Glendale, NY

30-33 Stratton Street         Leased               1979.00 July 31, 2004
Pathmark Shopping Center
Flushing, NY

153-17 Cross Island Parkway   Leased               1990.00 June 30, 1998
Whitestone, NY

57-07 Junction Boulevard      Leased               1990.00 April 30, 1997(3)
Elmhurst, NY

955 Hempstead Turnpike        Owned         1958
Franklin Square, NY

114 Northern Boulevard (4)    Leased               1971.00 Sept. 30, 2046
Greenvale, NY 11548

44 Cedar Swamp Road           Owned         1975
Glen Cove, NY

995 Hicksville Road           Leased               1977.00 Sept. 30, 2035
Massapequa, NY

Gr. So. Bay Shopping Center   Leased               1979.00 July 31, 2009
861 Montauk Highway
West Babylon, NY

4 Great Neck Road             Leased               1990.00 May 31, 2002
Great Neck, NY

162 Hillside Avenue           Owned         1995
Williston Park, NY

360 Merrick Road              Owned         1995
Lynbrook, NY

1000 Franklin Avenue          Leased               1995.00 Dec. 31, 2011
Garden City, NY

320 Walt Whitman Road         Leased               1995.00 August 31, 2004
Huntington Station, NY


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ASTORIA FINANCIAL CORP
10-K405
03/28/1997

VII. BORROWINGS




                                                  ORIGINAL DATE      DATE OF
                                      LEASED OR     LEASED OR         LEASE
              LOCATION                  OWNED        ACQUIRED     EXPIRATION(1)




33 Main Street                       Owned        1995
Kings Park, NY 11754

363 Hempstead Avenue                 Owned        1995
Malverne, NY 11565

361 Sunrise Highway                  Leased              1995.00 May 31, 2027
Patchogue, NY 11772

464 Atlantic Avenue                  Owned        1995
East Rockaway, NY

490 Hempstead Turnpike               Leased              1995.00 June 30, 2019
West Hempstead, NY

52 Manetto Hill Road                 Leased              1995.00 Sept. 30, 2005
Plainview, NY 11801

1622 Hempstead Turnpike              Leased              1995.00 Oct. 31, 2005
East Meadow, NY 11554

1015 Route 112                       Leased              1995.00 June 30, 2026
Port Jefferson Station, NY 11776

1880 Middle Country Road             Owned        1995
Ridge, NY 11961

600 Northern Boulevard (5)           Leased              1995.00 Dec. 31, 2002
Great Neck, NY 11021

155 Jericho Turnpike                 Owned        1995
Floral Park, NY 11001

99 Covert Avenue                     Owned        1995
Floral Park, NY 11001

955 Hempstead Turnpike               Owned        1995
Franklin Square, NY 11010

260 Glen Head Road                   Leased              1995.00 Dec. 31, 2000
Glen Head, NY 11545


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ASTORIA FINANCIAL CORP
10-K405
03/28/1997

VII. BORROWINGS




                                       ORIGINAL DATE      DATE OF
                           LEASED OR     LEASED OR         LEASE
        LOCATION             OWNED        ACQUIRED     EXPIRATION(1)




1585 Dutch Broadway       Leased              1995.00 July 31, 2009
Elmont, NY 11003

560 Warburton Avenue      Owned        1982
Hastings-on-Hudson, NY

731 Saw Mill River Road   Owned        1982
Ardsley, NY

Towne Centre at Somers    Leased              1992.00 August 1, 2028
Somers, NY

18 South Broad Street     Owned        1985
Norwich, NY

One Wall Street           Owned        1988
Oneonta, NY

62 Pioneer Street         Owned        1988
Cooperstown, NY

107 Oneida Street         Owned        1988
Oneonta, NY

Southside Mall            Leased              1988.00 June 30, 2003
Oneonta, NY

MORTGAGE SERVICING
 AND TRAINING CENTER:

5 Dakota Drive            Leased              1992.00 Dec. 31, 1998
New Hyde Park, NY


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ASTORIA FINANCIAL CORP
10-K405
03/28/1997

VII. BORROWINGS




                                                                                    SEQUENTIAL
                                                                                       PAGE
EXHIBIT NO.                           IDENTIFICATION OF EXHIBIT                       NUMBER




        3.10 Articles of Incorporation of Astoria Financial Corporation (1)

        3.20 By laws of Astoria Financial Corporation (1)

        4.10 Astoria Financial Corporation Specimen Stock Certificate *

        4.20 Federal Stock Charter of Astoria Federal Savings and Loan
             Association (2)

        4.30 By-laws of Astoria Federal Savings and Loan Association *

        4.40 Certificate of Designations, Preferences and Rights of Series A
             Junior Participating Preferred Stock (4)

        4.50 Rights Agreement between Astoria Financial Corporation and Chase
             Mellon Shareholder Services, L.L.C., as Rights Agent, Dated as of
             July 17, 1996 (4)

        4.60 Form of Rights Certificate (4)

        4.70 Astoria Financial Corporation Automatic Dividend Reinvestment and
             Stock Purchase Plan (6)

       10.10 Astoria Federal Savings and Loan Association Employee Stock
             Ownership Trust Loan and Security Agreement (1)

       10.20 Amendment to Astoria Federal Savings and Loan Association Employee
             Stock Ownership Trust Loan and Security Agreement, Promissory Note,
             and Security Agreement Re Instruments or Negotiable Documents to be
             Deposited (1)

       10.30 Astoria Federal Savings and Loan Association and Astoria Financial
             Corporation Directors' Retirement Plan, as amended and restated
             effective February 21, 1996. This exhibit is a management contract
             or compensatory plan or arrangement required to be filed as an
             exhibit to this Form 10-K pursuant to Item 14(c) of this report. (3)

       10.40 Astoria Financial Corporation Death Benefit Plan for Outside
             Directors. (3)

       10.50 Deferred Compensation Plan for Directors of Astoria Financial
             Corporation. (3)

       10.60 1996 Stock Option Plan for Officers and Employees of Astoria
             Financial Corporation. (3)

       10.70 1996 Stock Option Plan for Outside Directors of Astoria Financial
             Corporation. (3)

       10.80 Astoria Federal Savings and Loan Association Recognition and
             Retention Plan for Outside Directors as amended March 1, 1996. (3)

       10.90 Astoria Federal Savings and Loan Association Annual Incentive Plan
             for Selected Executives. (1)


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ASTORIA FINANCIAL CORP
10-K405
03/28/1997

VII. BORROWINGS




                                                                                    SEQUENTIAL
                                                                                       PAGE
EXHIBIT NO.                            IDENTIFICATION OF EXHIBIT                      NUMBER




       10.10 Astoria Financial Corporation Employment Agreement with George L.
             Engelke, Jr. (3)

       10.11 Astoria Federal Savings and Loan Association Employment Agreement
             with George L. Engelke, Jr. (3)

       10.12 Astoria Financial Corporation Employment Agreement with Senior Vice
             President by and between Astoria Financial Corporation and Arnold K.
             Greenberg. (3)

       10.13 Astoria Federal Savings and Loan Association Employment Agreement
             with Senior Vice President by and between Astoria Federal Savings
             and Loan Association and Arnold K. Greenberg. (3)

       10.14 Astoria Financial Corporation Employment Agreement with Senior Vice
             President by and between Astoria Financial Corporation and Thomas W.
             Drennan. (3)

       10.15 Astoria Federal Savings and Loan Association Employment Agreement
             with Senior Vice President by and between Astoria Federal Savings
             and Loan Association and Thomas W. Drennan. (3)

       10.16 Astoria Financial Corporation Employment Agreement with Senior Vice
             President by and between Astoria Financial Corporation and Monte N.
             Redman. (3)

       10.17 Astoria Federal Savings and Loan Association Employment Agreement
             with Senior Vice President by and between Astoria Federal Savings
             and Loan Association and Monte N. Redman. (3)

       10.18 Astoria Financial Corporation Employment Agreement with Senior Vice
             President by and between Astoria Financial Corporation and William
             K. Sheerin. (3)

       10.19 Astoria Federal Savings and Loan Association Employment Agreement
             with Senior Vice President by and between Astoria Federal Savings
             and Loan Association and William K. Sheerin. (3)


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ASTORIA FINANCIAL CORP
10-K405
03/28/1997

VII. BORROWINGS




                                                                                    SEQUENTIAL
                                                                                       PAGE
EXHIBIT NO.                            IDENTIFICATION OF EXHIBIT                      NUMBER




       10.20 Astoria Financial Corporation Employment Agreement with Senior Vice
             President by and between Astoria Financial Corporation and Alan P.
             Eggleston. (3)

       10.21 Astoria Federal Savings and Loan Association Employment Agreement
             with Senior Vice President by and between Astoria Federal Savings
             and Loan Association and Alan P. Eggleston. (3)

       10.22 Memorandum For the Record dated June 11, 1993 regarding Increased
             Health Benefits for Senior Officers. (1)

       10.23 Consulting and Other Arrangements Concerning Messrs. Drewitz and
             Bolton. (1)

       10.24 Amended and Restated Agreement and Plan of Merger, dated as of July
             12, 1994, by and among Astoria Financial Corporation, Astoria
             Federal Savings and Loan Association and Fidelity New York F.S.B.
             (5)

       10.25 Amendment No. 1 to the Amended and Restated Agreement and Plan of
             Merger, dated as of January 27, 1995, by and among Astoria Financial
             Corporation, Astoria Federal Savings and Loan Association and
             Fidelity New York F.S.B. (5)

       10.26 Form of Option Conversion Agreement by and between Astoria Financial
             Corporation and each of Mr. Thomas V. Powderly, Mr. William A. Wesp
             and Frederick J. Meyer, respectively. (5)

       10.27 Consulting Agreement by and between Astoria Financial Corporation
             and Mr. Thomas V. Powderly dated January 31, 1995. (5)

       10.28 Trust Agreement, dated as of January 31, 1995 between Astoria
             Financial Corporation and State Street Bank and Trust Company. (5)

       10.29 Astoria Financial Corporation 1993 Incentive Stock Option Plan. (1)

       10.30 Astoria Financial Corporation 1993 Stock Option Plan For Outside
             Directors. (1)

       10.31 Astoria Federal Savings and Loan Association Recognition and
             Retention Plan for Officers and Employees. (1)

       11.10 Statement regarding computation of earnings per share. *

       13.10 1996 Annual Report to Stockholders. *


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ASTORIA FINANCIAL CORP
10-K405
03/28/1997

VII. BORROWINGS




                                                                                    SEQUENTIAL
                                                                                       PAGE
EXHIBIT NO.                               IDENTIFICATION OF EXHIBIT                   NUMBER




       21.10 Subsidiaries of Astoria Financial Corporation. *

          23 Consent of Independent Auditors. *

          27 Financial Data Schedule. *

       99.10 Proxy Statement for the Annual Meeting of Shareholders to be held on
             May 21, 1997, which will be filed with the SEC within 120 days from
             December 31, 1996, is incorporated herein by reference.

  *           Filed herewith

         (1) Incorporated by reference to Astoria Financial Corporation's Annual
             Report on Form 10-K for the fiscal year ended December 31, 1993,
             filed with the Securities and Exchange Commission on March 30, 1994.

         (2) Incorporated by reference to Astoria Financial Corporation's Annual
             Report on Form 10-K for the fiscal year ended December 31, 1994
             filed with the Securities and Exchange Commission on March 15, 1995.

         (3) Incorporated by reference to Astoria Financial Corporation's Annual
             Report on Form 10-K for the fiscal year ended December 31, 1995
             filed with the Securities and Exchange Commission on March 29, 1996.

         (4) Incorporated by reference to Astoria Financial Corporation's
             Registration Statement on Form 8-A dated July 17, 1996 and filed
             with the Securities and Exchange Commission in August 1996.

         (5) Incorporated by reference to Astoria Financial Corporation's Current
             Report on Form 8-K, dated January 31, 1995 and filed with the
             Securities and Exchange Commission on February 9, 1995.

         (6) Incorporated by reference to Form S-3 Registration Statement as
             filed with the Securities and Exchange Commission on October 23,
             1995.


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ASTORIA FINANCIAL CORP
10-K405
03/28/1997

EXHIBIT 4.1 ASTORIA FINANCIAL CORPORATION SPECIMEN STOCK CERTIFICATE




COMMON STOCK     This certificate also evidences and entitles the holder
PAR VALUE 0.01   hereof to certain rights as set forth in a Rights Agreement
                 between Astoria Financial Corporation and ChaseMellon
                 Shareholder Services, L.L.C., as Rights Agent, dated as of
                 July 17, 1996, as the same may be amended from time to time,
                 (the "Rights Agreement"), the terms of which are hereby
                 incorporated herein by reference and a copy of which is on
                 file at the principal executive offices of Astoria Financial
                 Corporation. Under certain circumstance s, as set forth in
                 the Rights Agreement, such Rights will be evidenced by
                 separate certificates and will no longer be evidenced by this
                 certificate. Astoria Financial Corporation will mail to the
                 holder of this certificate a copy of the Rights Agreement
                 without charge after receipt of a written request therefor.
                 As described in the Rights Agreement, Rights owned by any
                 Person who is or becomes an Acquiring Person (as defined in
                 the Rights Agreement) and certain transfers thereof shall
                 become null and void.


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COMMON STOCK
PAR
VALUE 0.01




SEE REVERSE FOR
CERTAIN DEFINITIONS
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

[FACSIMILE




     TEN COM-
     TEN ENT-
     JT TEN-
                 right of survivorship and
                 not as tenants in common


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UNIF GIFT MIN ACT-______________Custodian_______________
(Cust)
under Uniform Gift to Minors
Act________________________________
(State)
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

NO TITLE




                                                                  PRIMARY       FULLY DILUTED
                                                                    EPS              EPS




Weighted average shares of Common
  Stock outstanding                                                21,779,110      21,779,110

ESOP:
  Total ESOP shares available                         2,642,354
  Weighted average shares committed to be released    577,801

                                                                  (2,064,553)     (2,064,553)

RRPs

  Weighted average shares not yet allocated                          (31,284)        (31,284)


  Total weighted average shares outstanding                        19,683,273      19,683,273

DILUTIVE EFFECT OF STOCK OPTIONS:

  Incremental shares under treasury stock method:                   1,189,506       1,898,497

  Total average common and common stock equivalents                20,872,779      21,581,770

  Net Income                                                       36,852,864      36,852,864

  Earnings Per Share                                                     1.77            1.71



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ASTORIA FINANCIAL CORP
10-K405
03/28/1997

TREASURY STOCK METHOD FOR STOCK OPTIONS OUTSTANDING




                                            PRIMARY       FULLY DILUTED




Quarter ending 3/31/96                       1,405,128        1,471,700

Quarter ending 6/30/96                       1,520,651        1,552,712

Quarter ending 9/30/96                                0               0

Quarter ending 12/31/96                      1,832,246        1,898,497

Total                                        4,758,025        4,922,909

Average                                      1,189,506        1,230,727

> Qtrly or Avg. (for fully diluted)                           1,898,497



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ASTORIA FINANCIAL CORP
10-K405
03/28/1997

NO TITLE




                                                                          At December 31,

              (In Thousands)                1996            1995                1994




Selected Financial Data:
Total assets                                7,272,763       6,620,102            4,642,547
Federal funds sold and
  repurchase agreements                        56,000         100,000              198,490
Mortgage-backed, mortgage-related and
  other securities available-for-sale       2,296,662       2,515,968                  55,550
Mortgage-backed, mortgage-related and
  other securities held-to-maturity         1,961,015       1,615,542            2,659,533
Loans receivable, net                       2,637,327       2,043,643            1,574,760
Real estate owned and investments
  in real estate, net                          12,129          23,331               26,378
Deposits                                    4,513,093       4,263,421            3,280,652
Borrowed funds                              2,111,514       1,704,691              766,849
Stockholders' equity (1)                      588,829         590,685              550,575



                                                        For the Yea      Year Ended Decem


(In Thousands, Except Per Share Data)         1996.00         1995.00              1994.00
                                        0

Selected Operating Data:
Interest income                               491,174         434,976              301,387
Interest expense                              304,481         265,705              150,527
                                        0
Net interest income                           186,693         169,271              150,860
Provision for loan losses                       3,963           2,007                3,733
                                        0
Net interest income after provision
  for loan losses                             182,730         167,264              147,127
Non-interest income                            13,722           9,466                6,218

Non-interest expense:
  General and administrative                   96,165          90,344                  72,089
  Real estate operations, net                 (2,723)         (3,344)                   1,894
  (Recovery of)/provision for
    real estate losses                        (1,747)              259                  3,017
  Amortization of excess of cost over
    fair value of net assets acquired           8,684           8,307                   1,788
  SAIF recapitalization assessment             28,545
  Provision for restructuring
                                        0
   Total non-interest expense                 128,924          95,566                  78,788
                                        0
  Income before income taxes,
    extraordinary item and cumulative
    effect of accounting changes               67,528          81,164                  74,557
Income tax expense                             30,675          35,743                  30,880
                                            0
  Income before extraordinary item
    and cumulative effect of
    accounting changes                          36,853   45,421   43,677
Extraordinary item:
  Penalty on prepayment of FHLB-NY
    advances, net of income tax benefit
Cumulative effect of accounting changes
                                            0
   Net income                                   36,853   45,421   43,677

Primary earnings per
  common share (2), (3)                           1.77     2.07     1.85
Fully diluted earnings per
  common share (2), (3)                           1.71     2.06     1.85
Fully diluted earnings per
  common share excluding
  SAIF recapitalization assessment,
net of tax (2), (3)                               2.49     2.06     1.85


____________________________
Created by Morningstar Document Research.
http://documentresearch.morningstar.com/
      1993            1992




       4,121,280      3,418,924

         229,820        150,000



       2,227,402      1,404,020
       1,506,966      1,692,939

          32,141         36,428
       2,898,372      2,877,843
         652,849        265,500
         537,349        242,219



December 31,


         1993.00        1992.00



         266,983        266,119
         140,406        155,692

         126,577        110,427
           6,959         11,553


         119,618         98,874
           6,374          5,759


             61,877      59,500
              3,557       2,218

              6,020      3,546

              2,250      2,895

              8,325

             82,029      68,159




             43,963      36,474
             18,677      17,502
 25,286      18,972


(3,499)
  2,881

 24,668      18,972


  0.19 N/A

  0.19 N/A



  0.19 N/A
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

NO TITLE




                                                          1996            1995




Selected Financial Ratios and Other Data:
Return on average assets                               0.53%           0.73%
Return on average stockholders' equity                          6.38            8.01
Return on average stockholders' tangible equity                 7.79            9.81
Average stockholders' equity to average assets                  8.25            9.09
Average tangible stockholders' equity
  to average tangible assets                                    6.86            7.55
Stockholders' equity to total assets                            8.10            8.92
Core deposits to total deposits (4)                            38.52           39.59
Net interest spread                                             2.45            2.55
Net interest margin (5)                                         2.77            2.85
Operating income to average assets (6)                          0.17            0.15
General and administrative expense to average assets            1.37            1.45
Cash general and administrative expense
  to average assets (7)                                         1.21            1.31
Efficiency ratio (8)                                           48.37           50.55
Cash efficiency ratio (7)                                      42.58           45.88
Average interest-earning assets to
  average interest-bearing liabilities                 1.07x           1.07x
Book value per common share                                    27.42           26.13
Tangible book value per common share                           22.75           21.30
Cash dividends paid per common share                            0.43            0.20

Selected Financial Ratios, Excluding SAIF
Recapitalization Assessment:
Return on average assets                               0.77%           0.73%
Cash return on average assets (9)                               1.06            0.99
Return on average stockholders' equity                          9.28            8.01
Cash return on average stockholders' equity (9)                12.76           10.94
Return on average stockholders' tangible equity                11.33            9.81
Cash return on average stockholders'
  tangible equity (9)                                          15.58           13.40

Asset Quality Ratios:
Non-performing loans to total loans (10)               1.26%           2.16%
Non-performing loans to total assets                            0.46            0.67
Non-performing assets to total assets (11)                      0.63            1.02
Allowance for loan losses to non-performing loans              42.11           30.34
Allowance for loan losses to non-accrual loans                 54.06           34.90
Allowance for loan losses to total loans                        0.53            0.65

Other Data:
Number of deposit accounts                                 461,044         439,681
Mortgage loans serviced for others (in thousands)          109,521         123,931
Number of full service banking offices (12)                     46              46
Full time equivalent employees                                 930             954


____________________________
Created by Morningstar Document Research.
http://documentresearch.morningstar.com/
  At or For the Year Ended December 31,

                  1994                         1993            1992




0.99%                                       0.67%           0.57%
                                     7.95            8.37            8.14
                                     8.04            8.61            8.54
                                    12.44            7.99            7.02

                                    12.32            7.79            6.69
                                    11.86           13.04            7.08
                                    38.71           47.56           45.49
                                     3.04            3.29            3.20
                                     3.51            3.55            3.45
                                     0.14            0.17            0.17
                                     1.63            1.68            1.79

                                     1.46            1.68            1.79
                                    45.89           46.54           51.21
                                    40.95           46.54           51.21

1.13x                                       1.07x           1.05x
                                    22.87           20.39
                                    22.65           20.12




0.99%                                       0.67%           0.57%
                                     1.20            0.73            0.66
                                     7.95            8.37            8.14
                                     9.68            9.14            9.39
                                     8.04            8.61            8.54

                                     9.79            9.39            9.84


4.20%                                       6.45%           7.43%
                                     1.44            2.40            3.74
                                     2.01            3.18            4.80
                                    18.19           16.87           12.32
                                    21.37           21.47           15.14
                                     0.76            1.09            0.92


                                  308,218       284,334         297,941
                                   54,157        67,791          87,070
                                       28            28              30
                                      751           788             791
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

CONSOLIDATED SCHEDULE OF CASH EARNINGS




                                                         For the Year Ended
                                                         December 31, 1996


                                            Reported                               Cash       Reported
  (In Thousands, Except Share Data)       Earnings (1)      Adjustments          Earnings   Earnings (1)




Total interest income                          491,174                            491,174        434,976
Total interest expense                         304,481                            304,481        265,705
                                      0
Net interest income                            186,693                            186,693        169,271
Provision for loan losses                        3,963                              3,963          2,007
                                      0
Net interest income after
  provision for loan losses                    182,730                            182,730        167,264
                                      0
Total non-interest income                       13,722                             13,722          9,466
                                      0
Non-interest expense:
  General and administrative:
    Compensation and benefits                   50,130              (11,509)       38,621         45,412
    Other general and
      administrative                            46,035                             46,035         44,932
                                      0
     Total general and
        administrative                          96,165              (11,509)       84,656         90,344
 Real estate operations, net                   (2,723)                            (2,723)        (3,344)
 (Recovery of)/provision for
   real estate losses                          (1,747)                            (1,747)            259
 Amortization of excess of
   cost over fair value of net
   assets acquired                               8,684               (8,684)                       8,307
 SAIF recapitalization
   assessment                                   28,545                             28,545
                                      0
     Total non-interest
        expense                                128,924              (20,193)      108,731         95,566
                                      0
Income before income
  tax expense                                   67,528                20,193       87,721         81,164
Income tax expense                              30,675                             30,675         35,743
                                      0
Net income                                      36,853                20,193       57,046         45,421

Primary earnings per
  common share (4)                                1.77                    0.96       2.73           2.07

Fully diluted earnings per
  common share (4)                                1.71                    0.93       2.64           2.06



____________________________
Created by Morningstar Document Research.
http://documentresearch.morningstar.com/
For the Year Ended
December 31, 1995


                          Cash
   Adjustments          Earnings




                         434,976
                         265,705

                         169,271
                           2,007


                         167,264

                           9,466




            (8,346)       37,066

                          44,932


            (8,346)       81,998
                         (3,344)

                             259


            (8,307)




           (16,653)       78,913


             16,653       97,817
                          35,743

             16,653       62,074


                 0.76       2.83


                 0.76       2.82
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

CONSOLIDATED SCHEDULE OF CASH EARNINGS




                                                                                       At December 31, 1996

                                                                   More than                More than
                                                                    One Year               Three Years
                                                 One Year              to                       to
          (Dollars in Thousands)                or Less(1)       Three Years(1)             Five Years




Interest-earning assets:
  Mortgage loans (2)                                852,670                 840,797                  232,070
  Consumer and other loans (2)                       37,541                   8,642                   10,767
  Federal funds sold and
  repurchase agreements                              56,000
  Mortgage-backed, mortgage-
  related and other securities
  available-for-sale                              2,296,662
  Mortgage-backed, mortgage-
  related and other securities
  held-to-maturity                                  387,369                 169,962                  183,023
                                            0
    Total interest-earning assets                 3,630,242               1,019,401                  425,860
Less:
  Unearned discount, premium
    and deferred fees (3)                                2,196                2,167                      598
                                            0
   Net interest-earning assets                    3,628,046               1,017,234                  425,262
                                            0
Interest-bearing liabilities:
  Savings                                           168,000                 288,000                  240,000
  NOW                                                22,548                  15,048                    7,524
  Money market and money
  manager                                           138,550                 138,552                   92,360
  Certificates of deposit                         1,582,985                 928,134                  263,631
  Borrowed funds                                    411,514               1,590,000                  100,000
                                            0
   Total interest-bearing liabilities             2,323,597               2,959,734                  703,515
                                            0
Interest sensitivity gap                          1,304,449          (1,942,500)                   (278,253)

Cumulative interest sensitivity gap               1,304,449               (638,051)                (916,304)

Cumulative interest sensitivity gap
  as a percentage of total assets               17.94%           (8.77)%              (12.60)%
Cumulative net interest-earning
  assets as a percentage of
  interest-bearing liabilities                  156.14%          87.92%               84.69%


____________________________
Created by Morningstar Document Research.
http://documentresearch.morningstar.com/
  More than
Five Years(1)       Total




          636,636   2,562,173
                       56,950

                       56,000


                    2,296,662


        1,258,450   1,998,804

        1,895,086   6,970,589


            1,641       6,602

        1,893,445   6,963,987


          438,038   1,134,038
           30,039      75,159

           92,351     461,813
                    2,774,750
           10,000   2,111,514

          570,428   6,557,274

        1,323,017     406,713

406,713


5.59%


106.20%
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

CONSOLIDATED SCHEDULE OF CASH EARNINGS




                                                        1996


                                                                 Average
                                         Average                  Yield/   Average
        (Dollars in Thousands)           Balance      Interest     Cost    Balance




Assets:
  Interest-earning assets:
    Mortgage loans                        2,317,574    187,219 8.08%        1,828,152
    Consumer and other loans                 58,753      6,021    10.25        61,480
    Mortgage-backed and
      mortgage-related
      securities (1)                      3,592,606    246,761      6.87    3,448,205
    Federal funds sold and
      repurchase agreements                  55,255      2,978      5.39      153,972
    Other securities (1)                    709,433     48,195      6.79      438,693

     Total interest-earning assets        6,733,621    491,174      7.29    5,930,502

 Non-interest-earning assets                272,034                           308,095

Total assets                              7,005,655                         6,238,597

Liabilities and
Stockholders' equity:
  Interest-bearing liabilities:
    Savings                               1,146,243     29,000      2.53    1,176,433
    Certificates of deposit               2,699,540    148,335      5.49    2,544,542
    NOW                                     114,110      2,282      2.00      240,032
    Money manager                           148,871      2,977      2.00
    Money market                            237,709      9,152      3.85      196,767
    Borrowed funds                        1,948,649    112,735      5.79    1,402,270

     Total interest-
       bearing liabilities                6,295,122    304,481      4.84    5,560,044

 Non-interest-bearing liabilities           132,747                           111,225

Total liabilities                         6,427,869                         5,671,269
Stockholders' equity                        577,786                           567,328

Total liabilities and
  stockholders' equity                    7,005,655                         6,238,597

Net interest income/net
  interest rate spread (2)                             186,693 2.45%

Net interest-earning assets/
  net interest margin (3)                   438,499              2.77%        370,458
Ratio of interest-earnings assets
  to interest-bearing liabilities      1.07x   1.07x



____________________________
Created by Morningstar Document Research.
http://documentresearch.morningstar.com/
Year Ended December 31,


         1995                                              1994


                            Average                                 Average
                             Yield/      Average                     Yield/
       Interest               Cost       Balance         Interest     Cost




                  153,262 8.38%           1,442,932       121,209 8.40%
                    6,496    10.57           52,510         4,983     9.49


                  238,232      6.91       2,266,729       145,559      6.42

                    9,021      5.86            157,044      7,170      4.57
                   27,965      6.37            383,351     22,466      5.86

                  434,976      7.33       4,302,566       301,387      7.00

                                      117,239

                                      4,419,805




                   29,764      2.53       1,095,827        27,466      2.51
                  142,052      5.58       1,713,688        83,051      4.85
                    4,841      2.02         128,653         2,612      2.03

                    7,300      3.71            100,896      2,539      2.52
                   81,748      5.83            761,925     34,859      4.58


                  265,705      4.78       3,800,989       150,527      3.96

                                      69,150

                                      3,870,139
                                      549,666


                                      4,419,805


                  169,271 2.55%                           150,860 3.04%


                            2.85%              501,577              3.51%
1.13x
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

CONSOLIDATED SCHEDULE OF CASH EARNINGS




                                                      Year Ended December 31, 1996
                                                              Compared to
                                                      Year Ended December 31, 1995

                                                          Increase (Decrease)

           (In Thousands)                Volume                   Rate                  Net




Interest-earning assets:
  Mortgage loans                             39,627                         (5,670)      33,957
  Consumer and other loans                    (282)                           (193)       (475)
  Mortgage-backed and
    mortgage-related securities               9,916                         (1,387)       8,529
  Federal funds sold and
    repurchase agreements                   (5,371)                             (672)   (6,043)
  Other securities                           18,277                             1,953    20,230
                                    0
   Total                                     62,167                         (5,969)      56,198
                                    0
Interest-bearing liabilities:
  Savings                                     (764)                                       (764)
  Certificates of deposit                     8,589                         (2,306)       6,283
  NOW                                       (2,512)                            (47)     (2,559)
  Money manager                               2,977                                       2,977
  Money market                                1,568                               284     1,852
  Borrowed funds                             31,553                             (566)    30,987
                                    0
   Total                                     41,411                         (2,635)      38,776
                                    0
Net change in net interest income            20,756                         (3,334)      17,422



____________________________
Created by Morningstar Document Research.
http://documentresearch.morningstar.com/
           Year Ended December 31, 1995
                   Compared to
           Year Ended December 31, 1994

               Increase (Decrease)

Volume                Rate                    Net




  32,342                              (289)    32,053
     908                                605     1,513

  80,836                             11,837    92,673

   (142)                              1,993     1,851
   3,431                              2,068     5,499

 117,375                             16,214   133,589


   2,074                                224     2,298
  45,023                             13,978    59,001
   2,242                               (13)     2,229

   3,180                              1,581     4,761
  35,395                             11,494    46,889

  87,914                             27,264   115,178

  29,461                        (11,050)       18,411
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

CONSOLIDATED SCHEDULE OF CASH EARNINGS




                                                                            At December 31,

                         (Dollars in Thousands)                  1996(1)        1995(1)




Non-accrual delinquent mortgage loans (2)                         24,905             37,394
Non-accrual delinquent consumer and other loans                    1,159              1,276
Mortgage loans delinquent 90 days or more (3)                      7,396              5,810

    Total non-performing loans                                    33,460             44,480

Real estate owned, net (4)                                         7,421             17,677
Investment in real estate, net (5)                                 4,708              5,654

    Total real estate owned and investment in real estate, net    12,129             23,331

    Total non-performing assets                                   45,589             67,811

Allowance for loan losses to non-performing loans (6)            42.11%    30.34%
Allowance for loan losses to total loans (6)                     0.53%     0.65%


____________________________
Created by Morningstar Document Research.
http://documentresearch.morningstar.com/
1994(1)




 56,037
    920
  9,981

 66,938

 18,898
  7,480

 26,378

 93,316

18.19%
0.76%
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

CONSOLIDATED SCHEDULE OF CASH EARNINGS




                                                                     At December 31,

                    (In Thousands, Except Share Data)                     1996




Assets
Cash and due from banks                                                          18,923
Federal funds sold and repurchase agreements                                     56,000
Mortgage-backed and mortgage-related securities available-for-sale
  (at estimated fair value)                                                2,100,376
Other securities available-for-sale (at estimated fair value)                196,286
Mortgage-backed and mortgage-related securities held-to-maturity
  (estimated fair value of 1,309,007 and 1,340,588, respectively)          1,321,613
Other securities held-to-maturity (estimated fair value of
  637,338 and 280,192, respectively)                                         639,402
Federal Home Loan Bank of New York stock                                      32,354
Loans receivable                                                           2,651,416
  Less allowance for loan losses                                              14,089

  Loans receivable, net                                                    2,637,327
Real estate owned and investments in real estate, net                         12,129
Accrued interest receivable                                                   43,976
Premises and equipment, net                                                   83,424
Excess of cost over fair value of net assets
  acquired and other intangibles                                             100,267
Other assets                                                                  30,686

                                                                           7,272,763

Liabilities and Stockholders' Equity
Liabilities:
  Deposits                                                                 4,513,093
  Reverse repurchase agreements                                            1,845,000
  Federal Home Loan Bank of New York advances                                266,514
  Mortgage escrow funds                                                       26,520
  Accrued expenses and other liabilities                                      32,807

    Total liabilities                                                      6,683,934

Commitments and contingencies

Stockholders' Equity:
  Preferred stock, .01 par value;
    (5,000,000 shares authorized; none issued)
  Common stock, .01 par value;
    (70,000,000 shares authorized; 26,361,704 issued;
    21,472,886 and 22,609,940 outstanding, respectively)                         264
  Additional paid-in capital                                                 330,398
  Retained earnings                                                          379,876
  Treasury stock (4,888,818 and 3,751,764 shares,
    at cost, respectively)                                                  (91,188)
  Net unrealized gains on securities, net of taxes                               156
  Unallocated common stock held by ESOP                                     (24,489)
  Unearned common stock held by RRPs                                         (6,188)
   Total stockholders' equity                 588,829

                                            7,272,763



____________________________
Created by Morningstar Document Research.
http://documentresearch.morningstar.com/
 1995




  33,869
 100,000

2,332,822
  183,146

1,333,644

  281,898
   24,975
2,057,138
   13,495

2,043,643
   23,331
   35,931
   80,083

 109,022
  37,738

6,620,102



4,263,421
1,483,329
  221,362
   22,585
   38,720

6,029,417




     264
 325,992
 351,923

(60,693)
  11,126
(27,355)
(10,572)
 590,685

6,620,102
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

Income Statement




                                                                    Year Ended December 31,

              (In Thousands, Except Share Data)           1996               1995




    Interest income:
       Mortgage loans                                     187,219                    153,262
       Consumer and other loans                             6,021                      6,496
       Mortgage-backed and mortgage-related securities    246,761                    238,232
       Federal funds sold and repurchase agreements         2,978                      9,021
       Other securities                                    48,195                     27,965

           Total interest income                          491,174                    434,976

    Interest expense:
       Deposits                                           191,746                    183,957
       Borrowed funds                                     112,735                     81,748

           Total interest expense                         304,481                    265,705

    Net interest income                                   186,693                    169,271
    Provision for loan losses                               3,963                      2,007

    Net interest income after provision for loan losses   182,730                    167,264

    Non-interest income:
       Customer service fees                                7,329                      5,260
       Loan fees                                            1,755                      1,679
       Net gain on sales of securities and loans            1,604                         11
       Other                                                3,034                      2,516

           Total non-interest income                       13,722                      9,466

    Non-interest expense:
       General and administrative:
         Compensation and benefits                         50,130                     45,412
         Occupancy, equipment and systems                  23,155                     20,753
         Federal deposit insurance premiums                 9,573                      9,713
         Advertising                                        3,379                      4,091
         Other                                              9,928                     10,375

           Total general and administrative                96,165                     90,344
       Real estate operations, net                        (2,723)                    (3,344)
       (Recovery of)/provision for real estate losses     (1,747)                        259
       Amortization of excess of cost over fair value
         of net assets acquired                             8,684                      8,307
       SAIF recapitalization assessment                    28,545

           Total non-interest expense                     128,924                     95,566

    Income before income tax expense                       67,528                     81,164
    Income tax expense                                     30,675                     35,743

    Net income                                             36,853                     45,421
    Primary earnings per common share                       1.77         2.07

    Fully diluted earnings per common share                 1.71         2.06

    Primary weighted average common stock and
       common stock equivalents outstanding           20,872,779   21,941,052
    Fully diluted weighted average common stock and
       common stock equivalents outstanding           21,581,770   22,023,342


____________________________
Created by Morningstar Document Research.
http://documentresearch.morningstar.com/
1994




121,209
  4,983
145,559
  7,170
 22,466

301,387


115,668
 34,859

150,527

150,860
  3,733

147,127


  2,835
  1,305

  2,078

  6,218




 38,792
 15,325
  6,773
  3,296
  7,903

 72,089
  1,894
  3,017

  1,788


 78,788

 74,557
 30,880

 43,677
      1.85

      1.85


23,633,440

23,633,440
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

Shareholders' Equity




                                                                 Year Ended December 31,

           (In Thousands, Except Share Data)        1996                  1995




Common Stock
Balance at beginning and end of year                       264                        264

Additional Paid-In Capital
Balance at beginning of year                         325,992                      322,913
Conversion of Fidelity stock options
  into Astoria stock options                                                        1,755
Amortization relating to allocation of
  ESOP stock and earned portion of RRP stock
  and related tax benefit                              4,406                        1,324

Balance at end of year                               330,398                      325,992

Retained Earnings
Balance at beginning of year                         351,923                      310,564
Net Income                                            36,853                       45,421
Cash dividends declared on common stock              (8,201)                      (4,018)
Loss on issuance of treasury stock (68,442 shares
  and 8,072 shares, respectively)                      (699)                         (44)

Balance at end of year                               379,876                      351,923

Treasury Stock
Balance at beginning of year                        (60,693)                     (34,252)
Common stock repurchased
  (1,205,496 shares, 1,471,752 shares and
  2,288,084 shares, respectively)                   (31,672)                     (26,592)
Treasury stock issued for options exercised
  (68,442 shares and 8,072 shares, respectively)       1,177                          151

Balance at end of year                              (91,188)                     (60,693)

Net Unrealized Gains (Losses) on
  Securities, Net of Taxes
Balance at beginning of year                          11,126                      (3,965)
Net unrealized gains on securities
  available-for-sale at January 1, 1994
Change in unrealized gains (losses) on
  securities available-for-sale                     (10,970)                       15,091

Balance at end of year                                     156                     11,126

Unallocated Common Stock Held by ESOP
Balance at beginning of year                        (27,355)                     (30,126)
Amortization relating to allocation of
  ESOP stock                                           2,866                        2,771

Balance at end of year                              (24,489)                     (27,355)

Unearned Common Stock Held by RRPs
Balance at beginning of year                 (10,572)   (14,823)
Sale of unearned RRP stock (10,176 shares)        147
Amortization relating to earned portion of
  RRP stock and related tax benefit             4,237     4,251

Balance at end of year                       (6,188)    (10,572)

Total stockholders' equity                   588,829    590,685




____________________________
Created by Morningstar Document Research.
http://documentresearch.morningstar.com/
1994




       264


322,320




       593

322,913


266,887
 43,677




310,564




(34,252)



(34,252)




   2,613

(6,578)

(3,965)


(33,029)

   2,903

(30,126)
(19,093)


   4,270

(14,823)

550,575
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

Cash Flows




                                 (In Thousands)                             1996




Cash flows from operating activities:
  Net income                                                                  36,853

 Adjustments to reconcile net income to net
   cash provided by operating activities:
   Amortization of net deferred loan origination
     fees, discounts, and premiums                                           (6,447)
   Provision for loan and real estate losses                                   2,216
   Depreciation and amortization                                               5,662
   Net gain on sales of securities and loans                                 (1,604)
   Amortization of excess of cost over fair value of net assets acquired       8,684
   Allocated and earned shares from ESOP and RRPs                             10,674
   Increase in accrued interest receivable                                   (8,045)
   Increase in mortgage escrow funds                                           3,935
   Net change in other assets, accrued expenses and other liabilities         10,334

     Net cash provided by operating activities                                62,262

 Cash flows from investing activities:
   Loan originations                                                       (642,836)
   Loan purchases through third parties                                    (256,646)
   Bulk loan purchases                                                      (60,534)
   Principal repayments on loans                                             346,924
   Principal payments on mortgage-backed and mortgage-related
     securities held-to-maturity and available-for-sale                      488,487
   Purchases of mortgage-backed and mortgage-related
     securities held-to-maturity and available-for-sale                    (336,711)
   Purchases of other securities                                           (451,841)
   Proceeds from maturities of other securities
     and redemption of FHLB stock                                             70,869
   Decrease in federal funds sold
   Proceeds from the sales of securities and loans                            95,295
   Proceeds from sales of real estate owned                                   16,925
   Proceeds from sales, net of costs and advances, related to
     investment in real estate                                                 1,164
   Purchases of premises and equipment, net of proceeds from sales           (8,901)
   Proceeds from sales of securities acquired from Fidelity
   Cash paid for Fidelity, net of cash and cash equivalents acquired

     Net cash used in investing activities                                 (737,805)

 Cash flows from financing activities:
   Net increase (decrease) in deposits                                       249,174
   Net increase in reverse repurchase agreements                             361,671
   Proceeds from FHLB of New York advances                                   135,000
   Payments of FHLB of New York advances                                    (90,000)
   Costs to repurchase common stock                                         (31,672)
   Cash dividends paid to stockholders                                       (8,201)
   Cash received for options exercised,
     net of loss on issuance of treasury stock                                     478
   Cash received from sale of unallocated RRP stock              147

     Net cash provided by financing activities               616,597

     Net (decrease) increase in cash and cash equivalents   (58,946)
 Cash and cash equivalents at beginning of year              133,869

 Cash and cash equivalents at end of year                     74,923

 Supplemental disclosures:
   Cash paid during the year:
     Interest                                                296,555
     Income taxes                                             26,065
   Additions to real estate owned                              8,896
   Transfers of securities from held-to-maturity to
     available-for-sale, net



____________________________
Created by Morningstar Document Research.
http://documentresearch.morningstar.com/
Year Ended December 31,

         1995                1994




                  45,421       43,677




                 (6,776)        (933)
                   2,266        6,750
                   5,021        3,610
                    (11)
                   8,307        1,788
                   8,346        7,766
                 (4,324)         (54)
                   2,366        2,372
                  12,284        8,284

                  72,900       73,260


                (225,152)   (239,357)
                (123,860)   (152,600)
                (130,201)    (10,907)
                  250,472     319,682

                 373,898      342,946

                (702,975)   (876,519)
                (232,825)    (67,457)

                 129,538      112,997
                              185,000
                   4,772        1,112
                  24,209       15,323

                    2,172       (222)
                  (6,713)    (10,614)
                  521,087
                (158,491)

                (274,069)   (380,616)


                 (71,129)     382,280
                  682,016      85,000
                   50,000      55,000
                (504,549)    (26,000)
                 (26,592)    (34,252)
                  (4,018)

                     107
 125,835    462,028

 (75,334)   154,672
  209,203    54,531

 133,869    209,203



 262,418    150,549
  31,460     27,596
  12,732     14,711

2,437,151    20,284
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

CONSOLIDATED SCHEDULE OF CASH EARNINGS




                                         (In Thousands)




Fair value of assets acquired, excluding cash and cash equivalents acquired
Liabilities assumed
Conversion of Fidelity stock options and Fidelity common stock previously acquired
Excess of cost over fair value of net assets acquired

Cash paid for Fidelity, net of cash and cash equivalents acquired



____________________________
Created by Morningstar Document Research.
http://documentresearch.morningstar.com/
  1,824,776
(1,772,060)
    (6,367)
    112,142

    158,491
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

CONSOLIDATED SCHEDULE OF CASH EARNINGS




                                          Excess of Cost
                                         over Fair Value       Net       Net Discount   Net Discount
                                          of Net Assets    Discount on        on             on
            (In Thousands)                   Acquired       Securities   Other Assets   Liabilities




Total at acquisition date                        112,142      (42,478)          (272)          4,926
Adjustment for sales of securities                              37,037

Balance after sales                              112,142       (5,441)          (272)          4,926
Amortization:
1995 actual                                      (6,853)         5,294           (57)        (3,084)
1996 actual                                      (7,476)           814           (60)          (651)
1997 estimated                                   (7,476)         (667)           (58)          (352)
1998 estimated                                   (7,476)                         (56)          (352)
1999 estimated                                   (7,476)                         (54)          (352)
thereafter estimated                            (75,385)                          557          (135)


____________________________
Created by Morningstar Document Research.
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   Total
Net Decrease
 in Income
Before Taxes




     (4,700)
     (7,373)
     (8,553)
     (7,884)
     (7,882)
    (74,963)
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

CONSOLIDATED SCHEDULE OF CASH EARNINGS




                                                                  Amortized
                            (In Thousands)                           Cost




    Available-for-Sale:
      Mortgage-backed and mortgage-related securities:
        GNMA certificates                                           235,751
        FHLMC certificates                                          262,044
        FNMA certificates                                            46,364
        REMICs:
          Agency issuance                                         1,142,349
          Private issuance                                           14,307
          Residuals                                                   1,457
        Other mortgage-related                                      398,014

          Total mortgage-backed and mortgage-related securities   2,100,286

      Other securities:
        Obligations of the U.S. Government and agencies             128,999
        Equity securities                                            66,959
        Other                                                            67

          Total other securities                                    196,025

    Total Available-for-Sale                                      2,296,311




____________________________
Created by Morningstar Document Research.
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At December 31, 1996


      Gross                 Gross      Estimated
    Unrealized            Unrealized      Fair
      Gains                 Losses       Value




                  2,256      (1,319)     236,688
                  1,338      (1,785)     261,597
                     69        (319)      46,114

                  4,225     (11,952)   1,134,622
                               (146)      14,161
                    924        (102)       2,279
                  7,340        (439)     404,915

                 16,152     (16,062)   2,100,376


                     57      (1,454)     127,602
                  1,662          (1)      68,620
                                 (3)          64

                  1,719      (1,458)     196,286

                 17,871     (17,520)   2,296,662
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

CONSOLIDATED SCHEDULE OF CASH EARNINGS




                                                                  Amortized
                             (In Thousands)                          Cost




    Held-to-Maturity:
      Mortgage-backed and mortgage-related securities:
        GNMA certificates                                             86,733
        FHLMC certificates                                            28,189
        FNMA certificates                                             22,044
        CMOs                                                           6,450
        REMICs:
          Agency issuance                                            936,692
          Private issuance                                           241,154
        Other mortgage-related                                           351

          Total mortgage-backed and mortgage-related securities    1,321,613


      Other securities:
        Obligations of the U.S. Government and agencies              578,293
        Obligations of states and political subdivisions              51,063
        Corporate debt securities                                     10,046

          Total other securities                                     639,402

    Total Held-to-Maturity                                         1,961,015




                                                                  Amortized
    (In Thousands)                                                Cost


    Available-for-Sale:
      Mortgage-backed and mortgage-related securities:
        GNMA certificates                                            156,330
        FHLMC certificates                                           332,109
        FNMA certificates                                            147,016
        REMICs:
          Agency issuance                                          1,116,842
          Private issuance                                            19,788
          Residuals                                                    2,645
      Other mortgage-related                                         540,565

          Total mortgage-backed and mortgage-related securities    2,315,295

      Other securities:
        Obligations of the U.S. Government and agencies             149,990
        Equity securities                                            30,885
        Other                                                            76

          Total other securities                                    180,951

    Total Available-for-Sale                                      2,496,246

    Held-to-Maturity:
      Mortgage-backed and mortgage-related securities:
        GNMA certificates                                           105,589
        FHLMC certificates                                           36,503
        FNMA certificates                                            24,613
        CMOs                                                         10,638
        REMICs:
          Agency issuance                                           961,536
          Private issuance                                          194,411
        Other mortgage-related                                          354

          Total mortgage-backed and mortgage-related securities   1,333,644

      Other securities:
        Obligations of the U.S. Government and agencies             220,181
        Obligations of states and political subdivisions             51,753
        Corporate debt securities                                     9,964

          Total other securities                                    281,898

    Total Held-to-Maturity                                        1,615,542




____________________________
Created by Morningstar Document Research.
http://documentresearch.morningstar.com/
 At December 31, 1996


        Gross                 Gross       Estimated
      Unrealized            Unrealized       Fair
        Gains                 Losses        Value




                    3,795          (73)       90,455
                    1,021          (16)       29,194
                       75         (611)       21,508
                       61          (60)        6,451

                    2,315      (12,912)      926,095
                      125       (6,326)      234,953
                                                 351

                    7,392      (19,998)    1,309,007




                    1,810       (3,813)      576,290
                                   (81)       50,982
                      22            (2)       10,066

                    1,832       (3,896)      637,338

                    9,224      (23,894)    1,946,345




At December                 31, 1995


Gross                       Gross         Estimated
Unrealized                  Unrealized    Fair
Gains                       Losses        Value




                    3,082                    159,412
                    4,363         (635)      335,837
                    1,425          (17)      148,424

                    9,418       (5,584)    1,120,676
                       41          (58)       19,771
                                   (15)        2,630
                    5,900         (393)      546,072

                   24,229       (6,702)    2,332,822
 1,023     (446)      150,567
 1,719     (101)       32,503
                           76

 2,742     (547)      183,146

26,971    (7,249)   2,515,968




 4,566      (22)      110,133
 1,406      (16)       37,893
   150     (476)       24,287
   119      (46)       10,711

 9,169    (4,396)     966,309
   412    (3,922)     190,901
                          354

15,822    (8,878)   1,340,588


 1,022    (2,460)     218,743
     2       (96)      51,659
            (174)       9,790

 1,024    (2,730)     280,192

16,846   (11,608)   1,620,780
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

CONSOLIDATED SCHEDULE OF CASH EARNINGS




                                                               At December 31,

                                                   1996                                             1995

                                   Weighted                                         Weighted
                                   Average                                          Average
      (Dollars in Thousands)         Rate         Balance          Percent            Rate         Balance




    Core Deposits:
      Savings                      2.50%           1,134,038 25.12%                 2.50%           1,154,777
      Money market                         3.99      260,739                 5.78           3.80      218,653
      Money manager                        1.22      201,074                 4.46
      NOW                                  1.24       75,159                 1.67           2.00      267,339
      Non-interest bearing NOW                        67,333                 1.49                      46,949

                                                   1,738,343             38.52                      1,687,718
    Certificates of deposit                5.44    2,774,750             61.48              5.56    2,575,703

                                                   4,513,093 100.00%                                4,263,421



____________________________
Created by Morningstar Document Research.
http://documentresearch.morningstar.com/
Percent




27.09%
    5.13

   6.27
   1.10

  39.59
  60.41

100.00%
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

CONSOLIDATED SCHEDULE OF CASH EARNINGS




                                                             At December 31,

                                                 1996                                          1995

                                 Weighted                                      Weighted
                                 Average                                       Average
     (Dollars in Thousands)        Rate         Balance          Percent         Rate         Balance




    Six months or less           5.04%           1,014,273 36.55%              5.36%           1,005,429
    Greater than six months
       through one year                  5.29      568,712             20.50           5.33      513,818
    Greater than one year
       through three years               5.72      928,134             33.45           5.84      913,825
    Greater than three years             6.31      263,631              9.50           6.01      142,631

                                                 2,774,750 100.00%                             2,575,703



____________________________
Created by Morningstar Document Research.
http://documentresearch.morningstar.com/
Percent




39.03%

  19.95

  35.48
   5.54

100.00%
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

CONSOLIDATED SCHEDULE OF CASH EARNINGS




                                                                 At or for the year ended
                                                                       December 31,

                         (Dollars in Thousands)                            1996




    Book value of collateral (including accrued interest):
      U.S. Treasury notes                                                            62,467
      Government agency notes                                                       305,358
      Mortgage-backed and mortgage-related
        securities available-for-sale and held-to-maturity                        1,627,246
    Estimated fair value of collateral:
      U.S. Treasury notes                                                            61,611
      Government agency notes                                                       304,261
      Mortgage-backed and mortgage-related
        securities available-for-sale and held-to-maturity                        1,605,054
    Average balance of outstanding agreements during the year                     1,744,830
    Maximum balance of outstanding agreements at a month
        end during the year                                                       1,910,801
    Average interest rate for the year                          5.58%


____________________________
Created by Morningstar Document Research.
http://documentresearch.morningstar.com/
    1995




    146,342


  1,474,650

    144,468


  1,472,157
    978,653

   1,510,530
5.69%
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

CONSOLIDATED SCHEDULE OF CASH EARNINGS




                          (In Thousands)                      1996




    Current income tax expense                                 14,668
    Deferred income tax expense (benefit) (exclusive of
      the effect of other components listed below)             15,824
    Adjustments to deferred tax assets and liabilities
      for enacted changes in tax laws and rates                      183
    Decrease in valuation allowance for deferred tax assets

    Total income tax expense                                   30,675




____________________________
Created by Morningstar Document Research.
http://documentresearch.morningstar.com/
Year Ended December 31,

         1995              1994




                  28,204    31,268

                   7,409     (123)

                     130       (4)
                             (261)

                  35,743    30,880
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

CONSOLIDATED SCHEDULE OF CASH EARNINGS




                                   (In Thousands)




    Deferred tax assets:
      Mortgages and other loans receivable, primarily
        due to allowances for losses and deferred loan fees
      Real estate owned, primarily due to allowance for losses
      Deferred tax losses on securities sold
      Alternative minimum tax credit
      Compensation and benefits
      Other

      Total gross deferred tax assets
      Less valuation allowance

    Deferred tax assets

    Deferred tax liabilities:
      Unearned discount on investments, not yet recognized for tax purposes
      Net unrealized gains on securities available-for-sale
      Other

      Total gross deferred tax liabilities

    Net deferred tax asset



____________________________
Created by Morningstar Document Research.
http://documentresearch.morningstar.com/
At December 31,

     1996            1995




            13,247     13,650
                        1,765
             9,767     14,775
             1,625      1,625
             5,926      8,940
               235        899

         30,800        41,654
        (1,819)       (1,819)

            28,981     39,835


        (5,005)         (665)
          (115)       (8,512)
        (4,342)       (3,529)

        (9,462)      (12,706)

            19,519     27,129
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

CONSOLIDATED SCHEDULE OF CASH EARNINGS




                                                                    At December 31,

                                                          1996                          1995

                                                                     Non-Qualified
                                                        Qualified     Supplemental    Qualified
                         (In Thousands)                    Plan          Plans           Plan




    Actuarial present value of benefit obligations:
      Accumulated benefit obligation:
        Vested                                             18,348             2,524      18,161
        Non-vested                                            615                64         907

                                                           18,963             2,588      19,068
        Effect of projected future compensation             2,591             2,431       2,434

    Projected benefit obligation for service
      rendered to date                                     21,554             5,019      21,502
    Estimated plan assets, at fair value                   25,606                        22,953

    Excess (deficiency) of plan assets over (under)
      projected benefit obligation                          4,052           (5,019)       1,451
    Unrecognized net loss (gain) from past experience
      different from that assumed and effects
      of changes in assumptions                             (438)             (103)       2,595
    Prior service cost not yet recognized
      in periodic pension cost                              (512)             1,031       (558)
    Unrecognized net transition (asset) obligation
      (from adoption of SFAS No. 87) being amortized
      over 17 years and 11 years for qualified plan
      and unfunded supplemental plan, respectively          (763)                18       (867)
    Additional minimum liability                                              (179)

    Prepaid (accrued) pension cost                          2,339           (4,252)       2,621



____________________________
Created by Morningstar Document Research.
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Non-Qualified
 Supplemental
    Plans




        2,112
           51

        2,163
        2,063


        4,226



      (4,226)


        (485)

        1,147



           50
        (250)

      (3,764)
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

CONSOLIDATED SCHEDULE OF CASH EARNINGS




                                                                              At December 31,

                                                1996                                  1995

                                                             Non-Qualified
                                             Qualified        Supplemental          Qualified
             (Dollars in Thousands)             Plan             Plans                 Plan




    Service cost (benefits earned
      during the period)                               618             218                      447
    Interest cost on projected
      benefit obligation                          1,512                256                 1,339
    Expected return on plan assets              (1,797)                                  (1,512)
    Net amortization and deferral                  (51)                147                 (150)

      Net pension expense                              282             621                      124

    Assumptions utilized in the
      actuarial valuations are as follows:
        Discount rate (pre-tax for
          qualified plan; after-tax for
          supplemental plan)                 7.5%            6.0%            7.0%
        Expected long-term rate
          of return on assets                8.0%                            8.0%
        Rate of increase in
          compensation levels                5.0%            8.0%            5.0%


____________________________
Created by Morningstar Document Research.
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                   1994

Non-Qualified                   Non-Qualified
 Supplemental   Qualified        Supplemental
    Plans          Plan             Plans




          214             534             217

          229          840                207
                   (1,018)
          133        (132)                131

          576             224             555




6.0%            8.5%            6.0%

                8.0%

8.0%            5.0%            8.0%
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

CONSOLIDATED SCHEDULE OF CASH EARNINGS




                                                             At December 31,

                    (In Thousands)                  1996          1995           1994




    Accumulated postretirement benefit obligation    2,095               1,681    1,583
    Unrecognized net gain from past experience
      different from that assumed and effects of
      changes in assumptions                         (391)               (252)    (405)
    Unrecognized prior service cost                   (69)                (76)

    Accrued postretirement benefit cost              1,635               1,353    1,178



____________________________
Created by Morningstar Document Research.
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ASTORIA FINANCIAL CORP
10-K405
03/28/1997

CONSOLIDATED SCHEDULE OF CASH EARNINGS




                                             1996                   1995

                                                        Weighted               Weighted
                                                        Average                Average
                                                        Exercise               Exercise
                                            Shares       Price     Shares       Price




    Outstanding at beginning
      of the year:                          2,064,774      13.11   1,974,996      12.51
        Granted                               195,500      35.12     158,786      20.41
        Canceled                                                    (64,936)      12.50
        Exercised                            (10,000)      12.50     (4,072)      12.50

    Outstanding at end of year              2,250,274      15.03   2,064,774      13.11

    Options exercisable at year-end           430,604                217,302


____________________________
Created by Morningstar Document Research.
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    1994

                Weighted
                Average
                Exercise
   Shares        Price




    1,975,174      12.50
       10,000      13.59
     (10,178)      12.50


    1,974,996      12.51

4,072
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

CONSOLIDATED SCHEDULE OF CASH EARNINGS




                                             1996                  1995                  1994

                                                       Weighted              Weighted
                                                       Average               Average
                                                       Exercise              Exercise
                                            Shares      Price     Shares      Price     Shares




    Outstanding at beginning
      of the year:                           554,552      12.59    534,198      12.50    534,198
        Granted                               20,000      26.18     20,354      14.86
        Canceled
        Exercised


    Outstanding at end of year               574,552      13.06    554,552      12.59    534,198

    Options exercisable at year-end          408,354               178,066


____________________________
Created by Morningstar Document Research.
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Weighted
Average
Exercise
 Price




   12.50




   12.50
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

CONSOLIDATED SCHEDULE OF CASH EARNINGS




                                             1996         1995

                                                         Weighted       Weighted
                                                         Average        Average
                                                         Exercise       Exercise
                                            Shares     PriceShares       Price




    Outstanding at beginning of the year:    312,036             8.81
    Granted                                                                 8.88
    Canceled
    Exercised                               (62,000)             7.69      13.93

    Outstanding at end of year               250,036             9.09       8.81

    Options exercisable at year-end          250,036 312,036


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ASTORIA FINANCIAL CORP
10-K405
03/28/1997

CONSOLIDATED SCHEDULE OF CASH EARNINGS




                                             Options Outstanding                    Options Exercisable

                                                   Weighted           Weighted
       Range Of          Number of Options    Average Remaining       Average       Number of Options
   Exercise Prices          at 12/31/96        Contractual Life    Exercise Price      at 12/31/96




     7.21 to 12.00                 216,036 8.1 years                         8.33                216,036
     12.50 to                    2,643,326 7.0 years                        13.02                852,958
     26.13 to                      215,500 9.9 years                        34.29                 20,000

      7.21 to                    3,074,862 7.3 years                        14.18              1,088,994



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   Weighted
   Average
Exercise Price




          8.33
         12.65
         26.18

         12.04
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

CONSOLIDATED SCHEDULE OF CASH EARNINGS




                                                       At December 31, 1996

                                 Capital                         Actual                    Excess
    (Dollars in Thousands)     Requirement       %              Capital              %    Capital




    Tangible                        107,214 1.5%                          404,016 5.65%   296,802 4.15%
    Leverage                        214,428    3.00                       404,016 5.65    189,588 2.65
    Risk-based                      203,773    8.00                       418,038 16.41   214,265 8.41


                                             At Dec December 31, 1995

                              Capital                 Actual                              Excess
    (Dollars in Thousands)    Requirement    %        Capital                    %        Capital   %


    Tangible                         97,523 1.5%                          395,565 6.08%   298,042 4.58%
    Leverage                        195,045    3.00                       395,565 6.08    200,520 3.08
    Risk-based                      173,995    8.00                       407,209 18.72   233,214 10.72


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ASTORIA FINANCIAL CORP
10-K405
03/28/1997

CONSOLIDATED SCHEDULE OF CASH EARNINGS




                                                         At December 31,

                                              1996                           1995

                                            Carrying       Estimated       Carrying
                (In Thousands)               Amount        Fair Value       Amount




    On Balance Sheet:
       Federal funds sold and
         repurchase agreements                  56,000            56,000      100,000
       Mortgage-backed, mortgage-related
         and other securities available-
         for-sale                            2,296,662         2,296,662    2,515,968
       Mortgage-backed, mortgage-related
         and other securities
         held-to-maturity                    1,961,015         1,946,345    1,615,542
       Loans receivable, net                 2,637,327         2,678,789    2,043,643
       Deposits                              4,513,093         4,510,740    4,263,421
       Borrowed funds                        2,111,514         2,113,384    1,704,691

    Off Balance Sheet:
       Outstanding commitments                 103,986           103,986       92,288
       Interest rate swaps (a)                                       252
       Interest rate caps (a)


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Estimated
Fair Value




   100,000


 2,515,968


 1,620,780
 2,089,209
 4,264,555
 1,708,234


    92,288
       887
     (213)
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

CONSOLIDATED SCHEDULE OF CASH EARNINGS




                            (In Thousands)                        1996




    Interest Income:
      Mortgage-related and other securities                         1,621
      ESOP loan receivable                                          1,761

        Total interest income                                       3,382
    Interest expense on borrowed funds                                318

    Net interest income                                             3,064

    Cash dividends from the Association                            49,362

    Non-interest expense:
      Compensation and benefits                                     1,159
      Other                                                           749

        Total non-interest expense                                  1,908

    Income before income taxes and equity in (overdistributed)
      undistributed earnings of the Association                    50,518
    Income tax expense                                                583

    Income before equity in (overdistributed) undistributed
      earnings of the Association                                  49,935
    Equity in (overdistributed) undistributed earnings
      of the Association (1)                                     (13,082)

    Net income                                                     36,853



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Year Ended December 31,

         1995              1994




                   1,997    2,840
                   1,864    1,982

                   3,861    4,822
                     228

                   3,633    4,822

                   4,520


                   1,054      623
                     846      854

                   1,900    1,477


                   6,253    3,345
                     835    1,516


                   5,418    1,829

                  40,003   41,848

                  45,421   43,677
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

CONSOLIDATED SCHEDULE OF CASH EARNINGS




                           (In Thousands)                      1996




    Cash flows from operating activities:
      Net income                                                 36,853
    Adjustments to reconcile net income to
      cash provided by operating activities:
        Equity in overdistributed (undistributed) earnings
          of the Association                                     13,082
        Increase in accrued interest receivable                      20
        Accretion of discount on other securities                  (12)
        (Decrease) increase in other liabilities and amounts
          due the Association                                   (1,356)

          Net cash provided by operating activities              48,587

    Cash flows from investing activities:
      Purchases of other securities held-to-maturity
      Maturities of other securities held-to-maturity
      Purchase of other securities available-for-sale           (6,359)
      Principal payments on securities available-for-sale         4,325
      Acquisition of Fidelity stock by the Association
      Principal payment on ESOP loan receivable                   2,366

          Net cash provided by investing activities                   332

    Cash flows from financing activities:
      (Decrease) increase in reverse repurchase agreements      (8,329)
      Repurchase of Company common stock                       (31,672)
      Cash received for options exercised net of loss
        on issuance of treasury stock                               478
      Cash dividends paid to stockholders                       (9,362)

          Net cash used in financing activities                (48,885)

    Net increase (decrease) in cash and cash equivalents               34
    Cash and cash equivalents at the beginning of the year             44

    Cash and cash equivalents at the end of the year                   78



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Year Ended December 31,

         1995              1994




                  45,421     43,677



                (40,003)   (41,848)
                      19        123
                    (12)      (650)

                 (1,141)      2,992

                   4,284      4,294


                            (9,974)
                             50,000
                           (37,437)
                   2,849      1,482
                   4,612
                   2,120      1,957

                   9,581      6,028


                   8,329
                (26,592)   (34,252)

                     107
                 (4,555)

                (22,711)   (34,252)

                 (8,846)   (23,930)
                   8,890     32,820

                      44      8,890
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

CONSOLIDATED SCHEDULE OF CASH EARNINGS




                                                          First
          (In Thousands, Except Per Share Amounts)       Quarter




    Interest income                                       115,834
    Interest expense                                       71,100

    Net interest income                                    44,734
    Provision for loan losses                                 522

    Net interest income after provision
      for loan losses                                      44,212
    Non-interest income                                     3,558

    Total income                                           47,770

    General and administrative expense                     23,927
    Real estate operations, net                           (3,255)
    (Recovery of) provision for real estate losses        (1,397)
    Amortization of excess of cost over
      fair value of net assets acquired                     2,171
    SAIF recapitalization assessment

    Income (loss) before income tax expense (benefit)      26,324
    Income tax expense (benefit)                           11,606

    Net income (loss)                                      14,718

    Primary earnings (loss) per common share                 0.68
    Fully diluted earnings (loss) per common share           0.68
    Fully diluted earnings per common share excluding
      SAIF recapitalization assessment, net of tax           0.68


                                                        Year End

                                                        First
    (In Thousands, Except Per Share Amounts)            Quarter


    Interest income                                        97,883
    Interest expense                                       55,095

    Net interest income                                    42,788
    Provision for (recovery of) loan losses                 1,001

    Net interest income after provision
      for (recovery of) loan losses                        41,787
    Non-interest income                                     1,986

    Total income                                           43,773

    General and administrative expense                     21,476
    Real estate operations, net                         362
    (Recovery of) provision for real estate losses     (56)
    Amortization of excess of cost over
      fair value of net assets acquired               1,611

    Income before income taxes                       20,380
    Income tax expense                                8,786

    Net income                                       11,594

    Primary earnings per common share                  0.52
    Fully diluted earnings per common share            0.52


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 Year Ended December 31, 1996

             Second                 Third           Fourth
            Quarter                Quarter         Quarter




                       121,242        126,716      127,382
                        74,418         79,112       79,851

                        46,824         47,604       47,531
                         2,042            958          441


                        44,782         46,646       47,090
                         3,439          3,374        3,351

                        48,221         50,020       50,441

                        24,674         23,872       23,692
                           339            176           17
                            65          (202)        (213)

                         2,171          2,171        2,171
                                       28,545

                        20,972        (4,542)       24,774
                         9,262        (1,320)       11,127

                        11,710        (3,222)       13,647

                          0.56         (0.17)         0.64
                          0.55         (0.17)         0.64

                          0.55              0.65      0.64


Ended December 31                31, 1995

Second                           Third             Fourth
Quarter                          Quarter           Quarter


                       107,883        113,369      115,841
                        65,953         71,401       73,256

                        41,930         41,968       42,585
                           827            349        (170)


                        41,103         41,619       42,755
                         2,625          2,332        2,523

                        43,728         43,951       45,278

                        23,163         22,842       22,863
(876)    (2,251)    (579)
(681)        704      292

2,232     2,232     2,232

19,890    20,424   20,470
 8,801     9,035    9,121

11,089    11,389   11,349

 0.50       0.52     0.53
 0.50       0.52     0.52
ASTORIA FINANCIAL CORP
10-K405
03/28/1997

NO TITLE




This    schedule contains summary financial information extracted from the
Conde   Condensed Consolidated Statement of Financial Condition as of December 31, 1996
and t   the Condensed Consolidated Statement of Operations for the twelve months
ended   December 31, 1996 and is qualified in its entirety by reference to such
finan   financial statements.
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Description: Capital One F.S.B. Credit Card Agreement document sample