Sterling Bancorp, Inc. (Southfield, MI) operates as the unitary thrift holding company for Sterling Bank and Trust, F.S.B. that provides community banking services to individuals and businesses. It offers checking, savings, and money market accounts, as well as IRAs and certificates of deposit; and one- to four-family residential, commercial, commercial real estate, construction, and consumer loans, as well as commercial lines of credit. The company also retail banking services. It operates through a network of 30 branches in San Francisco and Los Angeles, California; New York, New York; Southfield, Michigan; and the greater Seattle market. The company was founded in 1984 and is headquartered in Southfield, Michigan.
IPO Year: 2017
Exchange: NASDAQ
Website: sterlingbank.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 3/17/2023 | $6.75 → $6.00 | Neutral → Overweight | Piper Sandler |
Piper Sandler upgraded Sterling Bancorp, Inc. from Neutral to Overweight and set a new price target of $6.00 from $6.75 previously
Hovde Group initiated coverage of Sterling Bancorp, Inc. with a rating of Outperform and set a new price target of $6.00
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 quarter and year ended December 31, 2024. Fourth Quarter and Year-End 2024 Highlights Fourth quarter net income of $1.2 million, or $0.02 per diluted share; full year net income of $2.1 million, or $0.04 per diluted share Fourth quarter net interest margin of 2.24%; full year net interest margin of 2.37% Fourth quarter provision for (recovery of) credit losses of $(4.2) million; full year provision for (recovery of) credit losses of $(8.5) million Nonperforming loans of $14.6 million, or 1
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) credit losses of $(2.3) million; ratio of allowance for credit losses to total loans of 2.04% Non-interest expense of $15.6 million Shareholders' equity of $334.6 million Company's consolidated and Bank's leverage ratio of 1
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 losses of $(2.1) million; ratio of allowance for credit losses to total loans of 2.18% Non-interest expense of $14.9 million Shareholders' equity of $328.9 million Company's consolidated and Bank's leverage ratio o
Conference Call and Webcast to be Held on Wednesday, July 24, 2024 at 11 AM Eastern Time 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 and Webcast Information: Date: Wednesday, July 24, 2024 Time: 11 AM Eastern Time Telephone Access: U.S. callers: (833) 535-2201; Internation
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 $41 thousand; ratio of allowance for credit losses to total loans of 2.24% Non-interest expense of $15.4 million Shareholders' equity of $327.3 million Company's consolidated and Bank's leverage ratio of 14.10% and
Conference Call and Webcast to be Held on Wednesday, April 24, 2024 at 11 AM Eastern Time 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 and Webcast Information: Date: Wednesday, April 24, 2024 Time: 11 AM Eastern Time Telephone Access: U.S. callers: (833) 535-2201; Internat
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 interest margin of 2.68% Fourth quarter provision for (recovery of) credit losses of $(4.4) million; full year provision for (recovery of) credit losses of $(8.5) million Nonperforming assets of $9.0 million, or 0.37% of to
Conference Call and Webcast to be Held on Wednesday, January 24, 2024 at 11 a.m. ET 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 Call, Replay and Webcast Information: Date: Wednesday, January 24, 2024 Time: 11 a.m. Eastern Time Telephone Access: U.S. callers: (833) 535-220
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 loans of 2.42% Nonperforming assets of $6.2 million, 0.25% of total assets Total gross loans of $1.4 billion Total deposits of $2.0 billion Non-interest expense of $17.7 million Shareholders' equity of $316.1 mil
Conference Call and Webcast to be Held on Wednesday, October 25, 2023 at 11 a.m. ET 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 Webcast Information: Date: Wednesday, October 25, 2023 Time: 11 a.m. Eastern Time Telephone Access: U.S. callers: (833) 535-2201; International ca
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 on March 24, 2022, the Company appointed Mr. Michael Donahue and Mr. Eboh "Duke" Okorie to the Board of Directors of the Company (the "Board"), effective immediately. Mr. Donahue and Mr. Okorie will serve as directors until the 2022 annual meeting of the shareholders of the Company (the "2022 Annual Meeting") and until their respective successors are duly elected and qualified or their earlier resignation or removal. Mr. Donahue and Mr. Okorie have been nominated for re-election by the Company's shareholders at the 2022 Annual Meeting.
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Sterling Bancorp, Inc. (NASDAQ:SBT) ("Sterling" or the "Company") today announced that the Company's board of directors (the "Board" or "Board of Directors") has declared an initial liquidating distribution pursuant to its previously announced Plan of Dissolution in the amount of $4.85 per share, or approximately $252 million, payable on April 8, 2025 to shareholders of record as of April 1, 2025 and has set April 1, 2025 as the record date for all future liquidating distributions to shareholders pursuant to the Plan of Dissolution. The Company also announced that it has closed its stock transfer books effective as of the close of business today and has filed a Form 25 with the Securities a
Sterling Bancorp, Inc. (NASDAQ:SBT) ("Sterling" or the "Company"), the holding company of Sterling Bank and Trust, F.S.B. (the "Bank"), today announced the closing of the previously announced sale of all of the issued and outstanding shares of capital stock of the Bank to EverBank Financial Corp, a Delaware corporation ("EverBank"), which will become effective as of 12:01 a.m. (Eastern Time) on April 1, 2025. In connection with the closing of the sale, the Company received a fixed purchase price of $261 million in cash pursuant to the definitive Stock Purchase Agreement by and among the Company, the Bank and EverBank, dated September 15, 2024. Additionally, immediately following the effecti
Closing Date Set for April 1, 2025; Sterling Bancorp, Inc. to Delist From Nasdaq Upon Completion of Sale Sterling Bancorp, Inc. (NASDAQ:SBT) ("Sterling" or the "Company"), the holding company of Sterling Bank and Trust, F.S.B. (the "Bank"), today announced the receipt of regulatory approval from the Board of Governors of the Federal Reserve System of the Company's sale of all of the issued and outstanding shares of capital stock of the Bank to EverBank Financial Corp, a Delaware corporation ("EverBank"), which is the final regulatory approval needed to complete the sale transaction. The Company announced earlier today that EverBank had received regulatory approval for the transaction fro
Sterling Bancorp, Inc. (NASDAQ:SBT) ("Sterling" or the "Company"), the holding company of Sterling Bank and Trust, F.S.B. (the "Bank"), today announced the receipt of regulatory approval from the Office of the Comptroller of the Currency of the Company's sale of all of the issued and outstanding shares of capital stock of the Bank to EverBank Financial Corp, a Delaware corporation ("EverBank"). In connection with the sale, the Company will receive a fixed purchase price of $261 million in cash pursuant to the definitive Stock Purchase Agreement by and among the Company, the Bank and EverBank, dated September 15, 2024. The sale transaction was unanimously approved by the Company's board of
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 quarter and year ended December 31, 2024. Fourth Quarter and Year-End 2024 Highlights Fourth quarter net income of $1.2 million, or $0.02 per diluted share; full year net income of $2.1 million, or $0.04 per diluted share Fourth quarter net interest margin of 2.24%; full year net interest margin of 2.37% Fourth quarter provision for (recovery of) credit losses of $(4.2) million; full year provision for (recovery of) credit losses of $(8.5) million Nonperforming loans of $14.6 million, or 1
Sterling Bancorp, Inc. (NASDAQ:SBT) ("Sterling" or the "Company"), the holding company of Sterling Bank and Trust, F.S.B. (the "Bank"), today reported that its shareholders have approved (i) the sale of all of the issued and outstanding shares of capital stock of the Bank to EverBank Financial Corp and (ii) the Plan of Dissolution approved and adopted by the board of directors of the Company on September 15, 2024. The shareholders also approved, on an advisory, non-binding basis, the compensation that will or may be paid to the named executive officers of the Company in connection with the sale transaction. Following the special meeting of the Company shareholders held this morning, Mr. T
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) credit losses of $(2.3) million; ratio of allowance for credit losses to total loans of 2.04% Non-interest expense of $15.6 million Shareholders' equity of $334.6 million Company's consolidated and Bank's leverage ratio of 1
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 closing conditions, including regulatory approvals and approval by Sterling's shareholders. Sterling's board of directors has unanimously approved the sale transaction, which is expected to close in the first quarter of 2025. As a condition fo
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 losses of $(2.1) million; ratio of allowance for credit losses to total loans of 2.18% Non-interest expense of $14.9 million Shareholders' equity of $328.9 million Company's consolidated and Bank's leverage ratio o
Conference Call and Webcast to be Held on Wednesday, July 24, 2024 at 11 AM Eastern Time 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 and Webcast Information: Date: Wednesday, July 24, 2024 Time: 11 AM Eastern Time Telephone Access: U.S. callers: (833) 535-2201; Internation