Sterling Bancorp operates as the bank holding company for Sterling National Bank that provides an offering of deposit, lending and wealth management products to commercial, consumer and municipal clients in its market area. The company engages in the delivery of services and solutions to business owners, their families and consumers within the communities that it serves through teams of relationship managers. The company offers a line of commercial, business, and consumer banking products and services. The company offers various loan products to commercial businesses, real estate owners, real estate developers and consumers. The company focuses mainly on delivering products and services to small and middle market commercial businesses and affluent consumers. The company targets various geographic markets, such as the New York Metro Market, which includes Manhattan and Long Island; and the New York Suburban Market, which consists of Rockland, Orange, Sullivan, Ulster, Putnam and Westchester counties in New York and Bergen County in New Jersey. As of December 31, 2015, the company conducted its business through 52 full-service retail and commercial financial centers, which serve the New York Metro Market and the New York Suburban Market. Of these financial centers, 16 are located in Westchester County, New York; 12 in New York City, New York; 11 in Rockland County, New York; 7 in Orange County, New York; and 2 in Long Island, New York. The company also operates one office in each of Ulster, Sullivan, and Putnam counties in New York; and one office in Bergen County, New Jersey. Additionally, 18 of the company’s financial centers are owned and 34 are leased. Loans Commercial and Industrial Lending: The company makes various types of secured and unsecured commercial and industrial loans to small and medium-sized businesses in its market area, including loans collateralized by assets, such as accounts receivable, inventory, marketable securities, other liquid collateral, equipment and other assets. The terms of these loans generally range from approximately one year to seven years. Payroll Finance Lending: The company provides financing and human resource business process outsourcing support services to the temporary staffing industry. The company provides full back-office, computer and tax accounting services, and financing to independently-owned staffing companies located throughout the United States. Loans typically are structured as an advance used by the company’s clients to fund their payroll and are outstanding on average for 40 to 45 days. Warehouse Lending: The company provides residential mortgage warehouse funding services to mortgage bankers. These loans consist of a line of credit used by the mortgage banker as a form of temporary financing during the period between the closing of a mortgage loan until its sale into the secondary market, which typically lasts from 15 to 30 days. The company provides warehouse lines ranging from $5,000 to $60,000. The warehouse lines are collateralized by first mortgage loans, which include mainly conventional Fannie Mae and Freddie Mac, jumbo and FHA loans. Factored Receivables Lending: The company provides accounts receivable management services. Equipment Finance Lending: The company offers equipment financing across the United States through direct lending programs, third-party sources and vendor programs. The company finances full payout term loans and secured loans for various types of business equipment, generally written on a recourse basis i.e., with personal guarantees of the principals, with terms generally ranging from 24 to 60 months. Commercial Real Estate and Multi-Family Lending: The company originates real estate loans secured primarily by first liens on commercial real estate and multi-family properties. The underlying collateral of the company’s commercial real estate loans consists of multi-family properties, retail properties, including shopping centers and strip centers, office buildings, nursing homes, industrial and warehouse properties, hotels, motels, restaurants, and schools. To a lesser extent, the company originates commerci
(STL:New York Consolidated)
400 Rella Boulevard
Montebello, NY 10901
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