On February 28, 2017, Oritani Bank, the banking subsidiary of Oritani Financial Corp., closed on the sale of its last remaining Investment in Real Estate Joint Ventures. The approximate pretax gain on the transaction is $20.4 million. The impact of this transaction will be reflected in the financial statements as of March 31, 2017.

About ORITANI FINANCIAL CORP. (NASDAQ:ORIT)

Oritani Financial Corp. is a holding company for Oritani Bank (the Bank). The Bank offers a range of retail and commercial loan and deposit products. The Bank operates in the New Jersey Counties of Bergen, Hudson, Essex and Passaic. The Bank’s loan portfolio includes residential loans, residential commercial real estate loans, credit or grocery retail commercial real estate loans, other commercial real estate loans, and construction and land loans. Its investment securities are classified as held to maturity, including mortgage-backed securities, and available for sale, including equity securities and mortgage-backed securities. Its deposits include checking (non-interest and interest-bearing demand deposits), money market deposit accounts, savings accounts and time deposits. The Bank offers personal banking services, such as mobile banking, and online banking and others services, and business banking services, such as business accounts and business services.

ORITANI FINANCIAL CORP. (NASDAQ:ORIT) Recent Trading Information

ORITANI FINANCIAL CORP. (NASDAQ:ORIT) closed its last trading session up +0.20 at 17.40 with 199,703 shares trading hands.