Summary of ASTORIA FINANCIAL CORP

Item 5.02(d). Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

At meetings of the Boards of Directors of Astoria Financial Corporation (the "Company") and its wholly owned subsidiary, Astoria Federal Savings and Loan Association (the "Association") held today, the directors of both organizations each appointed Ms. Patricia M. Nazemetz to serve on their respective Board of Directors. In each case, Ms. Nazemetz was elected, effective January 23, 2013, to the class of directors who will serve until the respective annual meeting of shareholders of the Company and the Association held in 2013, and, in any case, until their successors are duly elected and qualified.

In addition, at its meeting held on December 19, 2012, the Board of Directors of the Company adopted a resolution, increasing the size of the Board of Directors of the Company effective January 23, 2013, from nine to ten directors, thereby creating a vacant seat to which Ms. Nazemetz has been appointed.

At its meeting, also held on December 19, 2012, the Board of Directors of the Association adopted an amendment to the Bylaws of the Association, effective January 23, 2013, increasing the size of the Board of Directors of the Association from nine to ten directors, thereby creating a vacant seat to which Ms. Nazemetz has been appointed. This Bylaw amendment, although effective as noted herein, is subject to notice to and non-objection by the Office of Comptroller of the Currency.

Ms. Nazemetz was not appointed to serve on any committees of the Board of Directors of the Company or the Association at this time.

Ms. Nazemetz does not have any direct or indirect interest in any transactions which would require disclosure by the Company pursuant to Securities and Exchange Commission Regulation S-K Item 404(a).

A press release announcing Ms. Nazemetz's election to the Board of Directors of the Company and the Association and describing her background is attached as Exhibit 99.1 and is incorporated by reference herein.