Sterling Bancorp

Sterling Bancorp, Inc. is a holding company, which engages in the provision of financial services. It offers loan products to the residential and commercial markets, and retail banking services. The company was founded in 1989 and is headquartered in Southfield, MI.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Sterling Bancorp reports mixed Q4 results amidst ongoing investigations

Sterling Bancorp navigated challenges in Q4 2022, reporting a small loss per share but maintaining a yearly profit. Despite ongoing investigations and margin impacts, the bank demonstrated strength in asset quality and expense management. Opportunities exist to address margin pressures and enhance profitability through strategic initiatives.

Sterling Bancorp reports breakeven quarter, focuses on resolving challenges

Sterling Bancorp navigated a breakeven quarter with a focus on resolving legal issues and improving asset quality. While challenges persist with high expenses and economic concerns, opportunities exist in asset sales and strategic financial actions. Proactive measures like adopting CECL and addressing delinquent loans position the company for future growth.

Sterling Bancorp reports Q2 earnings, resolves investigations, eyes industry growth

Sterling Bancorp navigated challenges in Q2 2023, focusing on capitalization and resolving investigations. Despite margin pressures, the company remains optimistic about industry prospects and growth opportunities.

Sterling Bancorp reports modest profit amidst challenges and opportunities

Sterling Bancorp's Q3 performance reflects resilience amid challenges. Strong capital and liquidity, ongoing expense management, and strategic loan disposal efforts position the company for future growth. Continued government inquiries and margin pressures require careful monitoring.

Sterling Bancorp reports solid earnings, eyes growth amidst challenges

Sterling Bancorp's Q4 and full-year 2023 earnings call highlighted solid financial performance driven by recovery and strong credit metrics.
While challenges like NIM compression and nonperforming loans exist, the company's focus on expense reductions and liquidity management positions it for future growth.
Opportunities in effectively managing challenges and maintaining a strong credit risk profile can drive future profitability and market visibility.

Sterling Bancorp reports breakeven quarter amidst legal challenges and margin pressures

Sterling Bancorp navigated a challenging quarter marked by legal expenses and margin pressures. The bank's focus on reserves, leadership development, and future opportunities signals a strategic approach to overcoming challenges and driving growth.

Sterling Bancorp reports stable Q2 results amidst growth opportunities

Sterling Bancorp's Q2 performance reflects stability and strategic positioning for future growth.
While challenges exist in certain real estate sectors, the bank's strong capital base and focus on cost efficiency are notable strengths.
Opportunities lie in potential industry rate cuts and ongoing efforts to streamline operations for improved profitability.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Sterling Bank and Trust, F.S.B. (the “Bank”), a wholly owned subsidiary of Sterling Bancorp, Inc. (“Sterling” or the “Company”) (NasdaqCM: SBT), to EverBank Financial Corp. Under the terms of the proposed transaction, EverBank would acquire all of the capital stock of the Bank from the Company for fixed cash c.

STERLING BANCORP INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Sterling Bancorp, Inc. - SBT

SOUTHFIELD, Mich.--(BUSINESS WIRE)--Sterling Bancorp, Inc. (NASDAQ: SBT) (“Sterling” or the “Company”), the holding company of Sterling Bank and Trust, F.S.B. (the “Bank”), today reported its unaudited financial results for the third quarter ended September 30, 2024. Third Quarter 2024 Highlights Net loss of $(0.1) million, or $(0.00) per diluted share Net interest margin of 2.30% Nonperforming loans of $13.2 million, 1.08% of total loans and 0.54% of total assets Provision for (recovery of) cr.

Sterling Bancorp Reports Third Quarter 2024 Financial Results

NEW YORK, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating Sterling Bancorp , Inc . (Nasdaq : SBT ), relating to a proposed merger with EverBank Financial Corp. Under the terms of the agreement, EverBank will acquire all outstanding shares of Sterling Bancorp in an all-cash transaction.

STOCKHOLDER INVESTIGATION: The M&A Class Action Firm Investigates the Merger of Sterling Bancorp, Inc.– SBT

NEW YORK , Oct. 22, 2024 /PRNewswire/ -- Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating Sterling Bancorp, Inc. (Nasdaq: SBT ), relating to a proposed merger with EverBank Financial Corp. Under the terms of the agreement, EverBank will acquire all outstanding shares of Sterling Bancorp in an all-cash transaction.

STOCKHOLDER INVESTIGATION: The M&A Class Action Firm Investigates the Merger of Sterling Bancorp, Inc.- SBT

NEW YORK , Sept. 16, 2024 /PRNewswire/ -- Rowley Law PLLC is investigating potential securities law violations by Sterling Bancorp, Inc. (NASDAQ: SBT) and its board of directors concerning the proposed acquisition of the company by EverBank Financial Corp. The transaction is valued at $261 million and is expected to close in the first quarter of 2025.

ALERT: Rowley Law PLLC is Investigating Proposed Acquisition of Sterling Bancorp, Inc.

MILWAUKEE , Sept. 16, 2024 /PRNewswire/ -- Ademi LLP is investigating Sterling (Nasdaq: SBT) for possible breaches of fiduciary duty and other violations of law in its transaction with Everbank.

Shareholder Alert: Ademi LLP investigates whether Sterling Bancorp, Inc. has obtained a Fair Price for its Public Shareholders

NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether the sale of Sterling Bank and Trust, F.S.B., a wholly owned subsidiary of Sterling Bancorp, Inc. (NASDAQ: SBT), to EverBank Financial Corp for $261,000,000 is fair to Sterling shareholders. Halper Sadeh encourages Sterling shareholders to click here to learn more about their legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or sadeh@halpersadeh.com or zhalper@hal.

SBT Stock Alert: Halper Sadeh LLC Is Investigating Whether the Sale of Sterling Bank and Trust, F.S.B. Is Fair to Shareholders

SOUTHFIELD, Mich.--(BUSINESS WIRE)--Sterling Bancorp, Inc. (NASDAQ: SBT) (“Sterling” or the “Company”), the holding company of Sterling Bank and Trust, F.S.B. (the “Bank”), today announced that the Company has entered into a definitive stock purchase agreement with Jacksonville, Florida-based EverBank Financial Corp (“EverBank”), pursuant to which EverBank would acquire all of the stock of the Bank for fixed cash consideration of $261,000,000. The sale transaction is subject to customary closin.

Sterling Bancorp Announces Sale of Sterling Bank and Trust, F.S.B. to EverBank Financial Corp and Adoption of Plan of Dissolution

Sterling Bancorp, Inc. (Southfield, MI) (NASDAQ:SBT ) Q2 2024 Earnings Call Transcript July 24, 2024 11:00 AM ET Company Participants Tom O'Brien - Chairman, CEO and President Karen Knott - CFO and Treasurer Conference Call Participants Ross Haberman - RLH Investments Operator Good morning, everyone. Thank you for joining us today to discuss Sterling Bancorp's financial results for the second quarter ended June 30, 2024.

Sterling Bancorp, Inc. (Southfield, MI) (SBT) Q2 2024 Earnings Call Transcript

SOUTHFIELD, Mich.--(BUSINESS WIRE)--Sterling Bancorp, Inc. (NASDAQ: SBT) (“Sterling” or the “Company”), the holding company of Sterling Bank and Trust, F.S.B. (the “Bank”), today reported its unaudited financial results for the second quarter ended June 30, 2024. Second Quarter 2024 Highlights Net income of $1.3 million, or $0.03 per diluted share Net interest margin of 2.44% Nonperforming loans of $12.2 million, 0.97% of total loans and 0.51% of total assets Provision for (recovery of) credit.

Sterling Bancorp Reports Second Quarter 2024 Financial Results

SOUTHFIELD, Mich.--(BUSINESS WIRE)--Sterling Bancorp, Inc. (the “Company”) (NASDAQ: SBT), the thrift holding company for Sterling Bank and Trust, F.S.B., Southfield, Michigan (the “Bank”), today announced that it expects to issue its financial results for the second quarter 2024 prior to the market open on Wednesday, July 24, 2024. The Company will also host a conference call and webcast on Wednesday, July 24, 2024 at 11 AM Eastern Time to discuss its financial results. Conference Call, Replay.

Sterling Bancorp, Inc. to Announce Second Quarter 2024 Financial Results on Wednesday, July 24, 2024

Sterling Bancorp, Inc. (Southfield, MI) (NASDAQ:SBT ) Q1 2024 Earnings Conference Call April 24, 2024 11:00 AM ET Company Participants Thomas O'Brien - Chairman, CEO and President Karen Knott - CFO and Treasurer Conference Call Participants Ross Haberman - RLH Investments Anthony Polini - American Capital Partners Operator Good morning, everyone. Thank you for joining us today to discuss Sterling Bancorp's Financial Results for the Fourth -- First Quarter Ended March 31, 2024.

Sterling Bancorp, Inc. (Southfield, MI) (SBT) Q1 2024 Earnings Call Transcript

SOUTHFIELD, Mich.--(BUSINESS WIRE)--Sterling Bancorp, Inc. (NASDAQ: SBT) (“Sterling” or the “Company”), the holding company of Sterling Bank and Trust, F.S.B. (the “Bank”), today reported its unaudited financial results for the first quarter ended March 31, 2024. First Quarter 2024 Highlights Net loss of $(0.2) million, or $(0.00) per diluted share Net interest margin of 2.52% Nonperforming loans of $9.3 million, or 0.72% of total loans and 0.39% of total assets Provision for credit losses of $.

Sterling Bancorp Reports First Quarter 2024 Financial Results

SOUTHFIELD, Mich.--(BUSINESS WIRE)--Sterling Bancorp, Inc. (the “Company”) (NASDAQ: SBT), the thrift holding company for Sterling Bank and Trust, F.S.B., Southfield, Michigan (the “Bank”), today announced that it expects to issue its financial results for the first quarter 2024 prior to the market open on Wednesday, April 24, 2024. The Company will also host a conference call and webcast on Wednesday, April 24, 2024 at 11 AM Eastern Time to discuss its financial results. Conference Call, Replay.

Sterling Bancorp, Inc. to Announce First Quarter 2024 Financial Results on Wednesday, April 24, 2024

Sterling Bancorp, Inc. (Southfield, MI) (SBT) Q4 2023 Earnings Call Transcript

SOUTHFIELD, Mich.--(BUSINESS WIRE)--Sterling Bancorp, Inc. (NASDAQ: SBT) (“Sterling” or the “Company”), the holding company of Sterling Bank and Trust, F.S.B. (the “Bank”), today reported its financial results for the quarter and year ended December 31, 2023. Fourth Quarter and Year-End 2023 Highlights Fourth quarter net income of $5.1 million, or $0.10 per diluted share; full year net income of $7.4 million, or $0.15 per diluted share Fourth quarter net interest margin of 2.52%; full year net.

Sterling Bancorp Reports Fourth Quarter and Full Year 2023 Financial Results

SOUTHFIELD, Mich.--(BUSINESS WIRE)--Sterling Bancorp, Inc. (the “Company”) (NASDAQ: SBT), the thrift holding company for Sterling Bank and Trust, F.S.B., Southfield, Michigan (the “Bank”), today announced that it expects to issue its financial results for the fourth quarter and full year 2023 prior to the market open on Wednesday, January 24, 2024. The Company will also host a conference call and webcast on Wednesday, January 24, 2024 at 11 a.m. (ET) to discuss its financial results. Conference.

Sterling Bancorp, Inc. to Announce Fourth Quarter and Full Year 2023 Financial Results on Wednesday, January 24, 2024

Rocket Companies, Inc.

SOUTHFIELD, Mich.--(BUSINESS WIRE)--Sterling Bank and Trust, F.S.B., the wholly owned subsidiary of Sterling Bancorp, Inc. (NASDAQ: SBT) today announced a partnership with Rocket Mortgage, America's largest retail mortgage lender and a part of Rocket Companies (NYSE: RKT). The partnership will offer Sterling customers a fully digital home loan experience, providing homebuyers with a convenient and easy way to purchase or refinance a home. Christine Meredith, Senior Executive Vice President and.

Sterling Bank and Trust Teams Up with Rocket Mortgage to Offer Bank Customers Access to Rocket's Award-Winning Home Loan Experience

Sterling Bancorp, Inc. (NASDAQ:SBT ) Q3 2023 Earnings Conference Call October 25, 2023 11:00 AM ET Company Participants Thomas O'Brien - Chairman, Chief Executive Officer & President Karen Knott - Chief Financial Officer and Treasurer Conference Call Participants Ross Haberman - RLH Investments Operator Good morning, everyone. Thank you for joining us today to discuss Sterling Bancorp's Financial Results for the Third Quarter ended September 30, 2023.

Sterling Bancorp, Inc. (SBT) Q3 2023 Earnings Call Transcript

SOUTHFIELD, Mich.--(BUSINESS WIRE)--Sterling Bancorp, Inc. (NASDAQ: SBT) (“Sterling” or the “Company”), the holding company of Sterling Bank and Trust, F.S.B. (the “Bank”), today reported its unaudited financial results for the third quarter ended September 30, 2023. Third Quarter 2023 Highlights Net income of $0.3 million, or $0.01 per diluted share Net interest margin of 2.62% Recorded provision for (recovery of) credit losses of $(1.9) million; ratio of allowance for credit losses to total l.

Sterling Bancorp Reports Third Quarter 2023 Financial Results

SOUTHFIELD, Mich.--(BUSINESS WIRE)--Sterling Bancorp, Inc. (the “Company”) (NASDAQ: SBT), the thrift holding company for Sterling Bank and Trust, F.S.B., Southfield, Michigan (the “Bank”), today announced that it expects to issue its financial results for the third quarter 2023 prior to market open on Wednesday, October 25, 2023. The Company will also host a conference call and webcast on Wednesday, October 25, 2023 at 11 a.m. (ET) to discuss its financial results. Conference Call, Replay and W.

Sterling Bancorp, Inc. to Announce Third Quarter 2023 Financial Results on Wednesday, October 25, 2023

Sterling Bancorp, Inc. (Southfield, MI) (NASDAQ:SBT ) Q2 2023 Earnings Conference Call July 26, 2023 11:00 AM ET Company Participants Tom O'Brien - Chairman, Chief Executive Officer & President Walter Bertke - Controller Conference Call Participants Operator Good morning everyone. Thank you for joining us today to discuss Sterling Bancorp's Financial Results for the Second Quarter Ended June 30th, 2023.

Sterling Bancorp, Inc. (Southfield, MI) (SBT) Q2 2023 Earnings Call Transcript

SOUTHFIELD, Mich.--(BUSINESS WIRE)--Sterling Bancorp, Inc. (NASDAQ: SBT) (“Sterling” or the “Company”), the holding company of Sterling Bank and Trust, F.S.B. (the “Bank”), today reported its unaudited financial results for the second quarter ended June 30, 2023. Second Quarter 2023 Highlights Net income of $2.5 million, or $0.05 per diluted share Net interest margin of 2.64% Completed the sale of all loans held for sale, primarily consisting of nonperforming and chronically delinquent resident.

Sterling Bancorp Reports Second Quarter 2023 Financial Results

SOUTHFIELD, Mich.--(BUSINESS WIRE)--Sterling Bancorp, Inc. (NASDAQ: SBT) (the “Company”), the holding company of Sterling Bank and Trust, F.S.B. (the “Bank”), today announced that the United States District Court for the Eastern District of Michigan approved the Plea Agreement previously entered into by the Company with the U.S. Department of Justice, Criminal Division, Fraud Section (the “DOJ”). Under the Plea Agreement, the Company pleaded guilty to one count of securities fraud primarily rel.

Sterling Bancorp, Inc. Plea Agreement with DOJ Receives Final Court Approval

SOUTHFIELD, Mich.--(BUSINESS WIRE)--Sterling Bancorp, Inc. (the “Company”) (NASDAQ: SBT), the thrift holding company for Sterling Bank and Trust, F.S.B., Southfield, Michigan (the “Bank”), today announced that it expects to issue its financial results for the second quarter 2023 prior to market open on Wednesday, July 26, 2023. The Company will also host a conference call and webcast on Wednesday, July 26, 2023 at 11 a.m. (ET) to discuss its financial results. Conference Call, Replay and Webcas.

News for Sterling Bancorp Stock (SBT)