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 |
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
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 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 Chief Risk Officer, described the partnership as a strong option for Sterling's customers who would like to become a homeowner or tap into their home's equity. "Rocket Mortgage has earned more J.D. Power awards for client service than a
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
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 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.
4 - Sterling Bancorp, Inc. (0001680379) (Issuer)
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8-K - Sterling Bancorp, Inc. (0001680379) (Filer)
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 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 residential real estate loans; gain on sale of such loans of $1.7 million Recorded provision for (recovery of) credit losses of $(2.9) million; ratio of allowance for credit losses to total loans of 2.43% Nonperforming assets of
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Sterling Bancorp (NASDAQ:SBT) reported quarterly earnings of $0.03 per share which missed the analyst consensus estimate of $0.04 by 25 percent. This is a 40 percent decrease over earnings of $0.05 per share from the same period last year. The company reported quarterly sales of $14.807 million which missed the analyst consensus estimate of $15.090 million by 1.88 percent. This is a 18.17 percent decrease over sales of $18.095 million the same period last year.
Sterling Bancorp (NASDAQ:SBT) reported quarterly sales of $15.133 million which missed the analyst consensus estimate of $15.460 million by 2.12 percent. This is a 15.71 percent decrease over sales of $17.954 million the same period last year.
Sterling Bancorp (NASDAQ:SBT) reported quarterly earnings of $0.10 per share which beat the analyst consensus estimate of $0.03 by 233.33 percent. The company reported quarterly sales of $15.32 million which missed the analyst consensus estimate of $16.37 million by 6.43 percent. This is a 18.39 percent decrease over sales of $18.77 million the same period last year.
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Sterling Bancorp (NASDAQ:SBT) is set to give its latest quarterly earnings report on Wednesday, 2024-01-24. Here's what investors need to know before the announcement. Analysts estimate that Sterling Bancorp will report an earnings per share (EPS) of $0.03. Sterling Bancorp bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter. New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast). Historical Earnings Performance Last quarter the company missed EPS by $0.03, which was followed by a 2.27% i
Sterling Bancorp (NASDAQ:SBT) reported quarterly earnings of $0.01 per share which missed the analyst consensus estimate of $0.04 by 75 percent. This is a 50 percent decrease over earnings of $0.02 per share from the same period last year. The company reported quarterly sales of $16.38 million which missed the analyst consensus estimate of $17.27 million by 5.17 percent. This is a 14.62 percent decrease over sales of $19.18 million the same period last year.
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Sterling Bancorp (NASDAQ:SBT) reported quarterly earnings of $0.05 per share which beat the analyst consensus estimate of $0.03 by 66.67 percent. This is a 225 percent increase over losses of $(0.04) per share from the same period last year. The company reported quarterly sales of $18.09 million which beat the analyst consensus estimate of $17.86 million by 1.32 percent. This is a 7.28 percent decrease over sales of $19.52 million the same period last year.
Consistent with the Plea Agreement, the sentence issued by the court requires the Company to pay $27.2 million in restitution for the benefit of non-insider victim shareholders. The Company and the DOJ entered into the Plea Agreement on March 15, 2023, resolving the DOJ's investigation focused on the Bank's Advantage Loan Program and related issues.