Welcome to our dedicated page for Sterling Bancorp news (Ticker: SBT), a resource for investors and traders seeking the latest updates and insights on Sterling Bancorp stock.
Sterling Bancorp Inc (SBT) provides community-focused banking services through residential lending, commercial real estate financing, and retail banking solutions. This page aggregates all verified news and official announcements related to the company’s financial performance and strategic initiatives.
Investors and analysts will find timely updates on earnings reports, regulatory filings, leadership changes, and market expansions. Our curated collection ensures transparent access to press releases covering loan portfolio developments, risk management practices, and neighborhood banking innovations.
Key content includes quarterly financial results, merger and acquisition details, corporate governance updates, and insights into Sterling Bancorp’s operational footprint across California markets. Bookmark this page to monitor the company’s evolving position in the thrift banking sector and its responses to industry trends.
Sterling Bancorp, Inc. (NASDAQ: SBT) announced it will release its financial results for Q1 2023 before market open on
Sterling Bancorp, Inc. (NASDAQ: SBT) announced a Plea Agreement with the U.S. Department of Justice, resolving a securities fraud investigation related to its former Advantage Loan Program. The Company pled guilty to one count of securities fraud and will pay $27.2 million in restitution. Revised financial results show a net loss of $14.2 million for 2022, with a fourth-quarter loss of $18.4 million. The Company has enhanced compliance measures and remains well-capitalized. An SEC investigation continues, but no enforcement action is currently anticipated. A conference call will detail financial results on March 16, 2023.
Sterling Bancorp reported its financial results for the quarter and year ending December 31, 2022. The Company experienced a net loss of $0.2 million in Q4 2022, translating to $(0.00 per diluted share, down from a net income of $1.2 million in Q3 2022. For the full year, net income was $4.0 million or $0.08 per diluted share, significantly reduced from $23.4 million in 2021. The net interest margin was 3.09% for Q4 and 3.06% for 2022. The Company’s total deposits stood at $2.0 billion, with nonperforming assets at $38.3 million. Legal investigations continue to impact financial performance and resources.
Sterling Bancorp, Inc. (NASDAQ: SBT) is set to release its fourth quarter and full year 2022 financial results on January 30, 2023, prior to market opening. A conference call will follow at 11 a.m. ET to discuss these results. Interested parties can access the call via U.S. at (833) 535-2201 and internationally at (412) 902-6744. A replay will be available until February 6, 2023. Sterling Bancorp operates Sterling Bank and Trust, with branches in California and New York City, providing a range of loan products and banking services. For more information, visit sterlingbank.com.
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