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Last $13.80 USD
Change Today +0.22 / 1.62%
Volume 445.7K
STL On Other Exchanges
Symbol
Exchange
New York
As of 8:04 PM 09/2/15 All times are local (Market data is delayed by at least 15 minutes).

sterling bancorp/de (STL) Key Developments

Sterling Bancorp. Announces Consolidated Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Reports Net Charge-offs for the Second Quarter of 2015

Sterling Bancorp. announced consolidated unaudited earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net interest income of $63,574,000 against $58,451,000 a year ago. This was mainly due to higher average loan balances due to organic growth as average loans increased $890.0 million or 20.6% between the periods. Loss before tax expense was $11,328,000 against income before tax of $21,068,000 a year ago. Net loss was $7,646,000 against net income of $15,011,000 a year ago. Loss per diluted commons share was $0.08 against earnings per diluted share of $0.18 a year ago. Negative return on average assets was 0.38% against positive return on average assets of 0.85% a year ago. Negative return on average equity was 2.79% against positive return on average equity of 6.37% a year ago. Core net income was $21,361,000 against $15,715,000 a year ago. Core return on average tangible equity was 13.27% against 12.42% a year ago. Core return on average tangible assets was 1.13% against 0.95% a year ago. Core diluted EPS (excluding total charges) was $0.23 against $0.19 a year ago. Core total revenue grew 8.4%. For the half year, the company reported net interest income of $122,439,000 against $112,479,000 a year ago. Income before tax expense was $13,526,000 against $35,988,000 a year ago. Net income was $9,130,000 against $25,343,000 a year ago. Earnings per diluted commons share was $0.10 against $0.30 a year ago. Book value per share was $11.40. The company reported net charge-offs of $1,667,000 for the second quarter of 2015.

Sterling Bancorp. Declares Quarterly Cash Dividend, Payable on August 17, 2015

Sterling Bancorp. announced that the Board of Directors has declared a quarterly cash dividend of $0.07 per share. The dividend is payable on August 17, 2015 to holders of record as of August 6, 2015.

Sterling Bancorp Seeks Acquisitions

Sterling Bancorp. (NYSE:STL) intends to make acquisitions. Jack Kopnisky, President and Chief Executive Officer of the company said: “We will continue growing our diversified commercial lending businesses, which are strong fee income generators, and we are actively evaluating opportunistic acquisitions, as previously indicated.”

Sterling Bancorp. to Report Q2, 2015 Results on Jul 27, 2015

Sterling Bancorp. announced that they will report Q2, 2015 results After-Market on Jul 27, 2015

Sterling Bancorp., Q2 2015 Earnings Call, Jul 28, 2015

Sterling Bancorp., Q2 2015 Earnings Call, Jul 28, 2015

 

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