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 2024

Sterling Bancorp achieves breakeven results in Q1 2023

Sterling Bancorp's Q1 2023 results reflect breakeven performance with growth in tangible book value, despite challenges such as margin compression and concerns over recent bank failures. The company is actively addressing delinquent loans and expensive sub-debt, while also expressing confidence in reserve levels.

Sterling Bancorp reports Q2 earnings, anticipates NIM redemption in Q3

Sterling Bancorp's Q2 2023 performance was impacted by sub debt interest costs, ongoing investigations, and increased deposit base costs. However, the company is making strategic plans, and the redemption of sub debt presents opportunities for improvement.

Sterling Bancorp reports modest Q3 profit amidst market pressures

Sterling Bancorp's Q3 performance reflected a modest profit and stable credit levels amidst challenges from higher interest rates and competition. The company's strong capital and liquidity position provided resilience, while anticipation for the year-end call suggests potential opportunities ahead.

Sterling Bancorp reports solid Q4 earnings and eyes analyst coverage

Sterling Bancorp reported a solid performance for Q4 and the full year 2023, with a focus on expense moderation and credit risk management. Challenges include the ongoing runoff in the Advantage Loan Portfolio. However, the company sees opportunities in extended analyst coverage and potential growth.

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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.

Sterling Bancorp, Inc. to Announce Second Quarter 2023 Financial Results on Wednesday, July 26, 2023

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?

News for Sterling Bancorp Stock (SBT)