New York Community Bancorp in Westbury will not receive regulatory approval for its deal to buy Astoria Financial by the end of the year as initially planned.
A reason was not given for the delay. Under the agreement, either company may terminate the deal if it is not completed by Dec. 31, the $49.5 billion-asset New York Community said Wednesday.
The parties "remain committed to the transaction" but any extension would need to be approved by both boards, New York Community said in a press release.
New York Community said in October 2015 that it
Management at New York Community has said it remained confident about its loan portfolio and underwriting ability. The boards at both companies