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Last $14.93 USD
Change Today +0.04 / 0.27%
Volume 400.1K
STL On Other Exchanges
New York
As of 8:04 PM 08/3/15 All times are local (Market data is delayed by at least 15 minutes).

sterling bancorp/de (STL) Snapshot

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52 Week High
07/2/15 - $15.26
52 Week Low
08/4/14 - $11.60
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Current Stock Chart for STERLING BANCORP/DE (STL)

sterling bancorp/de (STL) Related Businessweek News

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sterling bancorp/de (STL) Details

Sterling Bancorp operates as the bank holding company for Sterling National Bank that provides various banking services to commercial, consumer, and municipal clients in the United States. The company accepts deposit products, such as NOW deposits, savings deposits, certificate of deposits, money market deposits, senior notes, and other borrowings. Its loan portfolio includes commercial mortgages, residential mortgages, and other consumer loans; payroll finance, warehouse, factored receivables, and equipment finance lending; commercial and industrial loans; commercial real estate and multi-family loans; and acquisition, development, and construction loans. The company also offers wealth management products. As of September 30, 2014, it operated 32 full-service financial centers, which include 7 offices in Orange County and 9 in Rockland County, as well as 5 offices in Ulster, Sullivan, Westchester, and Putnam Counties in New York; 7 offices in New York City; 3 offices in Long Island; and 1 office in Bergen County, New Jersey. The company was founded in 1888 and is based in Montebello, New York.

829 Employees
Last Reported Date: 03/6/15
Founded in 1888

sterling bancorp/de (STL) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $179.2K
Chief Financial Officer, Senior Executive Vic...
Total Annual Compensation: $100.0K
Executive Vice President, Market President of...
Total Annual Compensation: $400.0K
Executive Vice President and President of Con...
Total Annual Compensation: $100.0K
Chief Banking Officer, Senior Executive Vice ...
Total Annual Compensation: $100.0K
Compensation as of Fiscal Year 2014.

sterling bancorp/de (STL) Key Developments

Sterling Bancorp Announces Board Changes

Sterling Bancorp announced the completion of its previously announced merger with Hudson Valley Holding Corp. In connection with the completion of the merger, four Hudson Valley directors, John P. Cahill, James J. Landy, Craig Thompson and William Whiston, will join the Board of Directors of Sterling. Separately, James Klein retired from his position on the Board of Sterling Bancorp, effective immediately prior to the merger.

Sterling Bancorp Announces Amendment and Restatement to the Certificate of Incorporation

On May 28, 2015, Sterling Bancorp held its 2015 Annual Meeting of Stockholders, at which the Company's stockholders approved an amendment and restatement to the company's Certificate of Incorporation to declassify the Board of Directors and require that each director stand for election annually.

Sterling Bancorp. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Reports Net Charge-Offs for the First Quarter of 2015

Sterling Bancorp. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, total interest income was $66,672,000 against $61,325,000 a year ago. Net interest income was $58,867,000 against $54,028,000 a year ago. Income before income tax expense was $24,856,000 against $14,920,000 a year ago. Net income was $16,778,000 or $0.19 per basic and diluted share against $10,332,000 or $0.12 per basic and diluted share a year ago. Return on average assets was 0.91% against 0.62% a year ago. Return on average equity was 6.59% against 4.48% a year ago. Return on average tangible equity was 11.48% against 8.47% a year ago. Core return on average tangible assets was 12.66% against 10.73% a year ago. Tangible book value per share was $6.89 against $5.97 a year ago. Book value per share was $11.86 against $11.21 a year ago. Results for the first quarter of 2015 were impacted by pre-tax charges of $4.1 million that were mainly incurred in connection with the acquisition of Damian Services Corporation, the pending acquisition of Hudson Valley, the consolidation of financial centers and amortization of non-compete agreements. The increase in net income was mainly the result of higher average loan balances due to organic growth as average loans increased $764.1 million or 18.9% between the periods. The decrease in net interest income was mainly due to two fewer days in the period, which reduced net interest income by approximately $1.3 million based on the average balance of earning assets for the quarter. For the quarter, the company reported net charge-offs of $1,590,000 against $3,397,000 a year ago.


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Price/Sales 4.5x
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