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This profile was last updated on 5/23/14  and contains information from public web pages and contributions from the ZoomInfo community.

Mr. Monte N. Redman

Wrong Monte N. Redman?

President and Chief Executive Off...

Phone: (516) ***-****  HQ Phone
Email: m***@***.com
Local Address: New Hyde Park, New York, United States
One Astoria Federal Plaza
Lake Success, New York 11042
United States

Company Description: Astoria Financial Corporation is the unitary savings and loan association holding company of Astoria Federal Savings and Loan Association, and its consolidated...   more

Employment History

Board Memberships and Affiliations


  • B.S. , Accounting
    New York Institute of Technology
156 Total References
Web References
Community Bankers Mortgage Forum 2009, 23 May 2014 [cached]
Monte Redman Community Bankers Mortgage Forum 2009
Monte Redman President & COO Astoria Federal Savings & Loan Association
Monte N. ..., 11 April 2014 [cached]
Monte N. Redman
Monte N. Redman has served as President, Chief Executive Officer and a director of AFC and the Association since July 2011. He served as President and Chief Operating Officer of AFC and the Association from August 2007 to June 2011. He served as Executive Vice President and Chief Financial Officer of AFC from December 1997 to August 2007. He served as Senior Vice President, Treasurer and Chief Financial Officer of AFC from its formation in 1993 to 1997. He joined the Association in 1977. In 1979, he was named Assistant Controller, and, in 1982, Assistant Vice President. Mr. Redman became Vice President and Investment Officer in 1985, was appointed Senior Vice President, Treasurer and Chief Financial Officer in 1989 and was appointed Executive Vice President and Chief Financial Officer in 1997. He is a member of the board of directors of the Federal Home Loan Bank of New York. He serves on the Board of Directors of the New York Banker’s Association and is the past Chairman and current member of the Board of Directors of the national Tourette Syndrome Association.
Mr. Redman brings to his position over thirty-six years of experience with the Association, with over twenty-five of them as an executive officer, of which for eighteen years he was Chief Financial Officer. As such, he is familiar with all material aspects of the business of AFC and the Association, their culture and markets. Mr. Redman has been a primary spokesman for AFC with the investing public since AFC’s initial public offering in 1993. He is well versed in the regulatory and other issues facing AFC and its industry.
Mr. Redman has a background in accounting and finance. He has extensive experience managing the Association through a wide range of interest rate and economic cycles. His executive management experience
Specifically, the Board has determined that, with the exception of Mr. Keegan and Mr. Redman, all directors of AFC and the Board Nominees are independent and that those directors who serve on the Compensation Committee are independent.
Mr. Keegan and Mr. Redman have been determined not to be independent due to their positions as current or former executive officers of AFC and the Association.
Mr. Redman serves as President and Chief Executive Officer. As such, he has general charge, supervision and management of the business affairs of AFC, and is responsible for assuring that policy decisions of the Board are implemented as adopted. He, in conjunction with the Board, is responsible for the development and implementation of AFC’s strategic plan and in exploring other growth opportunities.
The independent directors periodically review AFC’s leadership structure and believe, as a general matter, that the current Board leadership structure is appropriate for AFC. While the Corporate Governance Guidelines permit the positions of Chairman and Chief Executive Officer to be combined, the Board believes that continuing the separation of the Chairman and Chief Executive Officer functions will allow Mr. Redman to focus his attention on guiding AFC and the Association through the current difficult regulatory and economic environment, while a separate Chairman can devote full attention to Board leadership functions.
Recommendations to the Compensation Committee of AFC with respect to executive and non-executive officers’ salaries and other compensation components are presented by Mr. Redman, other executive officers and Human Resources management. Recommendations concerning non-executive officer compensation are developed based in large part upon input from the executive officer to whom such officers report. Mr. Redman also provides insight to the Compensation Committee regarding his performance and that of the other officers of AFC, both executive and non-executive. Mr. Redman does not participate in the Compensation Committee’s deliberations or approval of compensation issues relating to his own compensation.
During 2013, Mr. Redman, Mr. Eggleston and Ms. Callari, attended meetings of the Compensation Committee and assisted the Compensation Committee in the performance of its responsibilities relative to director and executive compensation.
Monte N. Redman, President ..., 16 April 2014 [cached]
Monte N. Redman, President and Chief Executive Officer of Astoria, commenting on the 2014 first quarter stated, "We are pleased with the results we reported today, which we believe provides further evidence that the strategic repositioning of our balance sheet continues to move forward according to plan.
The allowance for loan losses coverage ratio to the total loan portfolio remains strong at 1.09%," Mr. Redman commented.
Non-interest income for the quarter ended March 31, 2014 totaled $13.7 million compared to $17.4 million for the previous quarter and $18.3 million for the 2013 first quarter. These decreases are due primarily to decreases in mortgage banking income, net.
General and administrative ("G&A") expense for the quarter ended March 31, 2014 totaled $70.2millioncompared to $69.0 million for the previous quarter and $71.6 million for the 2013 first quarter. Mr. Redman commented, "Our G&A expense, while slightly higher than the 2013 fourth quarter is still below the lower end of the $72-$75 million per quarter range we have discussed on our previous conference calls.
In addition we continue to experience a decrease in residential mortgage originations as the market has shifted from being refinance driven towards more purchase driven," Mr. Redman commented.
Commenting on the mortgage loan portfolio, Mr. Redman stated, "The trend of the residential loan portfolio contraction continues to move in a positive way.
It is important to note that the loss potential remaining on these NPLs has been greatly reduced as a result of our having already reviewed, marked down, and charged-off as necessary, 86% of the residential NPLs 90 days or more delinquent, to their adjusted fair value less estimated selling costs," Mr. Redman noted.
Future Outlook Commenting on the future outlook, Mr. Redman stated, "Our strategy to expand our position as a full-service community bank continues to move forward.
The Company, as previously announced, indicated that Monte N. Redman, President & CEO will host an earnings conference call Thursday morning, April 17, 2014 at 10:00 a.m. (ET).
Tourette Syndrome Boards Finances, 29 May 2014 [cached]
Monte Redman, New York
TSA Tourette Syndrome Association News Headlines [cached]
"PASSING THE TORCH" - letter from TSA's Chairman, Monte Redman, and President, Judit Ungar, highlights TSA's
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