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) (“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

Sterling Bancorp Reports Second Quarter 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 second quarter ended June 30, 2022 prior to market open on Monday, August 15, 2022. The Company will also host a conference call and webcast on Monday, August 15, 2022 at 11 a.m. (ET) to discuss its financial results. Conference Call, Repl

Sterling Bancorp, Inc. to Announce Second Quarter Financial Results on Monday, August 15

Whale Point Acquisition Corp. late Wednesday filed an initial public offering as a special purpose acquisition company to trade on the Nasdaq under the symbol WPAU. The blank check company plans to raise $150 million to pursue deals in the financial technology sector.

Sterling Bancorp director and private equity veteran leads new SPAC

SOUTHFIELD, Mich.--(BUSINESS WIRE)--Sterling Bank & Trust, FSB (“Sterling”), the wholly-owned subsidiary of Sterling Bancorp, Inc. (NASDAQ: SBT), announced the elimination of non-sufficient fund fees (“NSF”) effective June 1, 2022. Sterling is dedicated to improving the financial standing of its customers and committed to making significant changes to help those they serve. “This initiative will have tremendous benefits for our customers and is critical to improving their financial future,”

Sterling Bank & Trust, FSB Eliminates Non-Sufficient Fund Fees to Benefit Customers

Sterling Bancorp, Inc. (Southfield, MI) (NASDAQ:SBT ) Q1 2022 Earnings Conference Call May 2, 2022 1:00 PM ET Company Participants Thomas O'Brien - Chairman, Chief Executive Officer and President Karen Knott - Executive Vice President and Chief Financial Officer Conference Call Participants Nick Cucharale - Piper Sandler Ben Gerlinger - Hovde Group Operator Good afternoon, everyone. Thank you for joining us today to discuss Sterling Bancorp's Financial Results for the First Quarter ended March 31, 2022.

Sterling Bancorp, Inc. (Southfield, MI) (SBT) CEO Thomas O'Brien on Q1 2022 Results - Earnings Call Transcript

Sterling Bancorp (SBT) delivered earnings and revenue surprises of 150% and 0.37%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock?

Sterling Bancorp (SBT) Surpasses Q1 Earnings and 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 first quarter ended March 31, 2022. First Quarter 2022 Highlights Net income of $5.3 million, or $0.10 per diluted share Net interest margin of 3.03% Non-interest expense of $19.4 million Provision (recovery) for loan losses of $(4.3) million; ratio of allowance for loan

Sterling Bancorp Reports First 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.

Earnings Preview: Sterling Bancorp (SBT) Q1 Earnings Expected to Decline

SOUTHFIELD, Mich.--(BUSINESS WIRE)--SBT announce earning release date

Sterling Bancorp, Inc. to Announce First Quarter Financial Results on Monday, May 2

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 revised its unaudited financial results for its fourth quarter and year ended December 31, 2021 in connection with the filing of its Annual Report on Form 10-K. Subsequent to the Company's press release issued on February 3, 2022, the Company entered into an agreement with a third-party purchaser to sell a pool of its

Sterling Bancorp Revises Fourth Quarter and Full Year 2021 Financial Results

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 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 Meet

Appointment of New Independent Directors, Michael Donahue and Eboh Okorie

Sterling Bancorp (SBT) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.

Sterling Bancorp (SBT) Stock Jumps 5.3%: Will It Continue to Soar?

SOUTHFIELD, Mich.--(BUSINESS WIRE)--Sterling Bancorp, Inc. (the “Company”) (NASDAQ: SBT), the thrift holding company for Sterling Bank and Trust, F.S.B. (the “Bank”), today announced the completion of the sale of a pool of its commercial real estate loans to a third-party purchaser. The pool consisted of 21 loans with an aggregate outstanding principal balance of approximately $56.8 million at December 31, 2021. The commercial real estate loans sold are primarily secured by single-room occupanc

Sterling Announces Completion of Sale of Commercial Real Estate Loans

SOUTHFIELD, Mich.--(BUSINESS WIRE)--Sterling Bancorp, Inc. (the “Company”) (NASDAQ: SBT), the thrift holding company for Sterling Bank and Trust, F.S.B. (the “Bank”), today announced that the Bank has entered into an agreement with a third-party purchaser to sell a pool of its commercial real estate loans. The pool consists of 21 loans with an aggregate outstanding principal balance of approximately $56.8 million at December 31, 2021. The loans were reclassified as held for sale and written dow

Sterling Announces Sale of Commercial Real Estate Loans

Sterling Bancorp, Inc. (Southfield, MI) (SBT) CEO Tom O'Brien on Q4 2021 Results - Earnings Call Transcript

Sterling Bancorp (SBT) delivered earnings and revenue surprises of 66.67% and 11.37%, respectively, for the quarter ended December 2021. Do the numbers hold clues to what lies ahead for the stock?

Sterling Bancorp (SBT) Q4 Earnings and Revenues Top 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 financial results for the quarter and year ended December 31, 2021. Fourth Quarter and Year-End 2021 Highlights Fourth quarter net income of $4.8 million, or $0.10 per diluted share; full year net income of $20.1 million, or $0.40 per diluted share Fourth quarter net interest margin of 2.94%; full year net

Sterling Bancorp Reports Fourth Quarter and Full Year 2021 Financial Results

Sterling Bancorp (SBT) Reports Next Week: Wall Street Expects Earnings Growth

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 ended December 31, 2021 prior to market open on Thursday, February 3, 2022. The Company will also host a conference call and webcast on Thursday, February 3, 2022 at 11 a.m. (ET) to discuss its financial results. Conference

Sterling Bancorp, Inc. to Announce Fourth Quarter Financial Results on Thursday, February 3

Sterling Bancorp (SBT) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

Sterling Bancorp (SBT) Soars 5.4%: Is Further Upside Left in the Stock?

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 reached an agreement to settle the shareholder demand for a derivative action originally set forth in a letter from a purported shareholder of the Company received on July 28, 2020 (the “Shareholder Demand”) and reflected in a shareholder derivative complaint that was recently

Sterling Bancorp, Inc. Settles Shareholder Demand

SOUTHFIELD, Mich.--(BUSINESS WIRE)--Earning release for 3Q2021 SBT

Sterling Bancorp Reports Third Quarter 2021 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 ended September 30, 2021 prior to market open on Monday, November 1, 2021. The Company will also host a conference call and webcast on Monday, November 1, 2021 at 11 a.m. (ET) to discuss its financial results. Conference Call

Sterling Bancorp, Inc. to Announce Third Quarter Financial Results on Monday, November 1

SOUTHFIELD, Mich.--(BUSINESS WIRE)--Sterling Bancorp, Inc. (the “Company”) (NASDAQ: SBT), the thrift holding company for Sterling Bank and Trust, F.S.B. (the “Bank”), today announced that Karen Knott, current Senior Vice President and Controller, has been promoted to the role of Chief Financial Officer of the Company and the Bank. Ms. Knott's promotion to Chief Financial Officer for the Bank is subject to the receipt of regulatory non-objection from the Office of the Comptroller of the Currency

Sterling Bancorp, Inc. Promotes Karen Knott to Chief Financial Officer

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 revised its unaudited financial results for its second quarter ended June 30, 2021. Subsequent to the Company's press release issued on August 2, 2021, the Company determined that the negative escrow account balances on residential real estate loans with a “Pass” classification, totaling approximately $1.2 million at J

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