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.

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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 it received a letter from the Division of Enforcement of the U.S. Securities and Exchange Commission (the “SEC”) informing the Company that the Division of Enforcement had concluded its investigation of the Company and does not intend to recommend an enforcement action by the SEC against the Company. As previously disclose.

SEC Concludes Investigation of Sterling

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 it has provided notice to the holders of its outstanding 7.0% Fixed to Floating Subordinated Notes due April 2026 (the “Subordinated Notes”) that the Company has called all of the Subordinated Notes for redemption pursuant to the redemption provisions set forth in the Subordinated Notes, at a redemption price equal to 100%.

Sterling Bancorp to Redeem $65.0 Million Subordinated Notes

SOUTHFIELD, Mich.--(BUSINESS WIRE)--Sterling Bancorp, Inc. (NASDAQ: SBT) (the “Company”), the holding company of Sterling Bank and Trust, F.S.B., today announced the completion of the previously disclosed plan to sell nonperforming and chronically delinquent residential real estate loans, primarily consisting of Advantage Loan Program loans. The pool consisted of 84 loans with an aggregate unpaid principal balance of approximately $43.5 million. The transaction, with an institutional investor,.

Sterling Completes the Sale of Problem Loans with Unpaid Principal Balances of $43.5 million

Sterling Bancorp, Inc. (Southfield, MI) (NASDAQ:SBT ) Q1 2023 Financial Results Conference Call May 1, 2023 11:00 AM ET Company Participants Thomas M. O'Brien - Chairman, Chief Executive Officer and President Karen Zaborney Knott - Chief Financial Officer and Treasurer Conference Call Participants Ben Gerlinger - Hovde Group Ross Haberman - RLH Investments Operator Good morning, everyone and thank you for joining us today to discuss Sterling Bancorp's Financial Results for the First Quarter ended March 31, 2023.

Sterling Bancorp, Inc. (Southfield, MI) (SBT) Q1 2023 Financial Results Conference Call Transcript

SOUTHFIELD, Mich.--(BUSINESS WIRE)--Sterling Bancorp Reports First Quarter 2023 Financial Results.

Sterling Bancorp Reports First 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 first quarter 2023 prior to market open on Monday, May 1, 2023. The Company will also host a conference call and webcast on Monday, May 1, 2023 at 11 a.m. (ET) to discuss its financial results.

Sterling Bancorp, Inc. to Announce First Quarter 2023 Financial Results on Monday, May 1, 2023

Sterling Bancorp (SBT) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.

Strength Seen in Sterling Bancorp (SBT): Can Its 16.8% Jump Turn into More Strength?

The Justice Department said late Wednesday that Michigan-based Sterling Bancorp Inc. SBT has agreed to plead guilty to securities fraud for filing “false” securities statements relating to its 2017 initial public offering as well as 2018 and 2019 annual filings. Sterling Bancorp is the holding company for wholly owned subsidiary Sterling Bank and Trust F.S.B.

Sterling Bancorp to plead guilty to fraud, DOJ says

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 the Company entered into a Plea Agreement (the “Plea Agreement”) with the U.S.

Sterling Bancorp, Inc. Enters Into Plea Agreement with DOJ; Resolves DOJ Investigation of the Company Relating to the Advantage Loan Program; Revises Fourth Quarter and Full Year 2022 Unaudited Financial Results

Start Time: 11:00 January 1, 0000 11:30 AM ET Sterling Bancorp, Inc. (Southfield, MI) (NASDAQ:SBT ) Q4 2022 Earnings Conference Call January 30, 2023, 11:00 AM ET Company Participants Tom O'Brien - Chairman, President and CEO Karen Knott - EVP and CFO Conference Call Participants Ben Gerlinger - Hovde Group Ross Haberman - RLH Investments Operator Good morning, everyone. Thank you for joining us today to discuss Sterling Bancorp's Financial Results for the Fourth Quarter and Full Year ended December 31, 2022.

Sterling Bancorp, Inc. (Southfield, MI) (SBT) Q4 2022 Earnings Call Transcript

Sterling Bancorp (SBT) delivered earnings and revenue surprises of -100% and 1.22%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

Sterling Bancorp (SBT) Reports Break-Even Earnings for Q4

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, 2022.

Sterling Bancorp Reports Fourth Quarter and Full Year 2022 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 2022 prior to market open on Monday, January 30, 2023.

Sterling Bancorp, Inc. to Announce Fourth Quarter and Full Year 2022 Financial Results on Monday, January 30

SOUTHFIELD, Mich.--( BUSINESS WIRE )--Sterling Bank & Trust (Sterling) is helping make the dream of homeownership a reality for more low- and moderate-income families. For its efforts, the bank recently won the Wolters Kluwer Compliance Solutions 2022 Community Impact Award.

Sterling Bank & Trust earns honors for promoting affordable homeownership

LAS VEGAS--( BUSINESS WIRE )--Wolters Kluwer Compliance Solutions has named Sterling Bank & Trust, FSB, the wholly owned subsidiary of Sterling Bancorp, Inc. (Nasdaq: SBT) as the winner of its 2022 Community Impact Award. The announcement was made at the company's 26th annual CRA & Fair Lending Colloquium held Nov. 13-16 at Caesars Palace Las Vegas. The award honors financial institutions for the breadth and innovative application of community development programs to benefit low- and middle-income communities in which they conduct business.

Wolters Kluwer names winner of its 2022 Community Impact Award

Sterling Bancorp, Inc. (Southfield, MI) (NASDAQ:SBT ) Q3 2022 Earnings Conference Call October 31, 2022 11:00 AM ET Company Participants Tom O'Brien - Chairman, President and Chief Executive Officer Karen Knott - Executive Vice President and Chief Financial Officer Conference Call Participants Justin Crowley - Piper Sandler Operator Good morning and welcome to the Sterling Bancorp's Third Quarter 2022 Earnings Conference Call. All participants will be in a listen-only mode.

Sterling Bancorp, Inc. (Southfield, MI) (SBT) Q3 2022 Earnings Call Transcript

Sterling Bancorp (SBT) delivered earnings and revenue surprises of -50% and 5.04%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

Sterling Bancorp (SBT) Q3 Earnings and Revenues Miss Estimates

SOUTHFIELD, Mich--(BUSINESS WIRE)--Sterling Bancorp, Inc. (NASDAQ: SBT) (“Sterling” or the “Company”), the holding company of Sterling Bank and Trust, F.S.B.

Sterling Bancorp Reports Third Quarter 2022 Financial Results

Sterling Bancorp (SBT) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Analysts Estimate Sterling Bancorp (SBT) to Report a Decline in Earnings: What to Look Out for

Sterling Bancorp, Inc. to Announce Third Quarter Financial Results on Monday, October 31

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 receipt of final court approval of the settlement of the shareholder derivative action that was filed against the Company and certain current and former directors of the Company. The substance of the derivative action was originally set forth in a demand letter from a purported shareholder of

Sterling Bancorp, Inc. Shareholder Demand Settlement Approved by Court

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 the Bank has entered into a Consent Order with the Office of the Comptroller of the Currency (the “OCC”), dated September 27, 2022 (the “Consent Order”), resolving the OCC's formal investigation relating to the Bank's former residential loan product, marketed as the Advantage Loan Program

Sterling Bank & Trust Settles OCC Investigation into Advantage Loan Program; OCC Terminates June 2019 Formal Agreement

Sterling Bancorp, Inc. (Southfield, MI) (NASDAQ:SBT ) Q2 2022 Earnings Conference Call August 15, 2022 11:00 AM ET Company Participants Thomas O'Brien - Chairman, President & CEO Karen Knott - EVP & CFO Conference Call Participants Ben Gerlinger - Hovde Group Nick Cucharale - Piper Sandler Ross Haberman - RLH Operator Good morning, everyone. Thank you for joining us today to discuss Sterling Bancorp's financial results for the Second Quarter Ended June 30, 2022.

Sterling Bancorp, Inc. (Southfield, MI) (SBT) CEO Thomas O'Brien on Q2 2022 Results - Earnings Call Transcript

Sterling Bancorp (SBT) delivered earnings and revenue surprises of -157.14% and 14.03%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?

Sterling Bancorp (SBT) Reports Q2 Loss, Misses Revenue Estimates

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, 2022. Second Quarter 2022 Highlights Net loss of $(2.2) million, or $(0.04) per diluted share Net interest margin of 2.95% Non-interest expense of $19.5 million Provision (recovery) for loan losses of $(1.1) million; ratio of allowance for l

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