Sterling Bancorp announces results for the fourth quarter and full year of 2021. Reporting record diluted earnings per share available to common stockholders in the fourth quarter of 2021 of $0.57 (as reported) and $0.64 (as adjusted). Key Performance Highlights GAAP net income available to common stockholders was $109.6 million.Adjusted net income was $121.9 million, an all-time high, and an increase of 22.4% over the linked quarter.Adjusted PPNR, excluding accretion income,1, 2 was $130.8 million; an increase of $10.1 million, or 8.4%, versus the linked quarter. For the full year, adju...
Sterling Bancorp Declares Quarterly Dividend of $0.07 per Share PEARL RIVER, N.Y., Jan. 19, 2022 (GLOBE NEWSWIRE) -- Sterling Bancorp (NYSE: STL), the parent company of Sterling National Bank, today announced that the Board of Directors has declared a quarterly cash dividend of $0.07 per share. The dividend is payable February 18, 2022, to holders of record as of January 24, 2022. About Sterling Bancorp Sterling Bancorp, whose principal subsidiary is Sterling National Bank, specializes in the delivery of service and solutions to business owners, their families and consumers within the c...
Sterling National Bank Announces Its Participation in the USDF Consortium™ PEARL RIVER, N.Y., Jan. 13, 2022 (GLOBE NEWSWIRE) -- Sterling National Bank (“Sterling”), the wholly-owned operating bank subsidiary of Sterling Bancorp (NYSE: STL) announced today its participation in the USDF ConsortiumTM, an association of FDIC-insured financial institutions, whose objective is to advance the adoption and interoperability of a bank-minted stablecoin, USDFTM. USDF will be established on the Provenance Network, a public blockchain that supports real-time payment capabilities and will facilitate fa...
Sterling Bancorp Announces Strategic Investment in JAM FINTOP Blockchain, LP PEARL RIVER, N.Y., Jan. 11, 2022 (GLOBE NEWSWIRE) -- Sterling Bancorp (NYSE: STL) (“Sterling”), today announced an investment in JAM FINTOP Blockchain, LP (the “fund”), a venture fund that will focus its investments on blockchain infrastructure providers that help regulated financial institutions compliantly adopt and operate blockchain enabled applications in their business. The fund is managed by JAM Special Opportunity Ventures, an affiliate of Jacobs Asset Management, LLC (JAM), and FINTOP Capital. Sterling ...
Sterling Bancorp to Announce Fourth Quarter and Full Year 2021 Results PEARL RIVER, N.Y., Jan. 07, 2022 (GLOBE NEWSWIRE) -- Sterling Bancorp (NYSE: STL), the parent company of Sterling National Bank, today announced that it plans to release results for the fourth quarter and full year ended December 31, 2021 after the market close on Wednesday, January 19, 2022. Sterling will not host an earnings call given its pending merger with Webster Financial Corporation. About Sterling BancorpSterling Bancorp, whose principal subsidiary is Sterling National Bank, specializes in the delivery of s...
Webster, Sterling Announce Receipt of all Required Regulatory Approvals for Merger WATERBURY, Conn. and PEARL RIVER, N.Y., Dec. 20, 2021 (GLOBE NEWSWIRE) -- Webster Financial Corporation (NYSE: WBS) (“Webster”) and Sterling Bancorp (NYSE: STL) (“Sterling”) jointly announced today that Webster has received regulatory approval from the Board of Governors of the Federal Reserve System to complete the previously announced merger between the two companies. As previously announced, the Office of the Comptroller of the Currency has also approved the merger of the respective bank subsidiaries o...
Sterling Bancorp Announces Strategic Investment in Goalsetter PEARL RIVER, N.Y., Dec. 17, 2021 (GLOBE NEWSWIRE) -- Sterling Bancorp (NYSE: STL) today announced it has made a strategic investment in , an innovative mobile banking company aimed at promoting financial literacy and empowerment amongst K-12 students. According to studies compiled by the U.S. Financial Literacy and Education Commission, only one third of adults can answer at least four of five financial literacy questions on fundamental concepts such as mortgages, interest rates, inflation and risk. Goalsetter proactively addre...
Sterling Bancorp Declares Quarterly Dividend on Preferred Stock PEARL RIVER, N.Y., Dec. 10, 2021 (GLOBE NEWSWIRE) -- Sterling Bancorp (NYSE: STL), the parent company of Sterling National Bank, today announced that its Board of Directors has declared a quarterly cash dividend of $16.25 per share ($0.40625 per each depositary share) on its 6.50% Series A Non-Cumulative Perpetual Preferred stock (NYSE: STLPRA). The dividend is payable on January 14, 2022 to shareholders of record as of December 30, 2021. About Sterling Bancorp Sterling Bancorp, whose principal subsidiary is Sterling Nation...
Sterling Bancorp Announces Strategic Investment in FinTron LLC PEARL RIVER, N.Y., Oct. 28, 2021 (GLOBE NEWSWIRE) -- Sterling Bancorp (NYSE: STL) (“Sterling”) today announced a strategic investment in FinTron LLC (“FinTron”), a FinTech company providing a range of digitally enabled banking and investment services to the Mobile Generation (millennials and Gen Z ages 18 to 39). Through its subsidiary, Fintron Invest, an SEC registered broker-dealer, the company provides a range of investment services, including commission-free trading in more than two thousand stocks and ETFs, as well as inv...
Mid-Caps Breaking Out, Are Small-Caps Next? Risk-on signals remain the dominant theme. As a result, we continue to believe we are close to exiting the "mixed market environment" in favor of a new, broad-based advance. More and More Cyclical Areas Breaking Out. In our September 28 Compass, we noted that small-caps (IWM) and cyclicals (XOP, XLF, RCD, XLI) were still consolidating, and that we need to see breakouts to new YTD highs in order to signal the end of the "mixed environment," and the st...
Sterling National Bank Goes Live with Cashfac’s Escrow Account Platform Sterling National Bank deploys new self-service escrow accounts solution, delivered in partnership with Cashfac PEARL RIVER, N.Y. and LONDON, Oct. 21, 2021 (GLOBE NEWSWIRE) -- Sterling National Bank (“Sterling”), the wholly-owned operating bank subsidiary of Sterling Bancorp (NYSE: STL) and Cashfac, a leading global financial technology company specialising in operational cash management, are pleased to announce that Sterling has moved into production with their new delivered through Cashfac’s Software as a Service...
Sterling Bancorp announces results for the third quarter and first nine months of 2021. Diluted earnings per share available to common stockholders in the third quarter of 2021 of $0.49 (as reported) and $0.52 (as adjusted). Key Performance Highlights GAAP net income available to common stockholders was $93.7 million.Adjusted net income was $99.6 million compared to $100.4 million in the linked quarter.Reported net interest margin excluding accretion income1 was 3.25% compared to 3.30% in the linked quarter.Cost of funding liabilities decreased by one bp to 19 bps; earning asset yields dec...
Sterling Bancorp Declares Quarterly Dividend of $0.07 per Share PEARL RIVER, N.Y., Oct. 20, 2021 (GLOBE NEWSWIRE) -- Sterling Bancorp (NYSE: STL), the parent company of Sterling National Bank, today announced that the Board of Directors has declared a quarterly cash dividend of $0.07 per share. The dividend is payable November 15, 2021 to holders of record as of November 1, 2021. About Sterling Bancorp Sterling Bancorp, whose principal subsidiary is Sterling National Bank, specializes in the delivery of service and solutions to business owners, their families and consumers within the co...
Sterling Bancorp to Announce Third Quarter 2021 Results PEARL RIVER, N.Y., Oct. 12, 2021 (GLOBE NEWSWIRE) -- Sterling Bancorp (NYSE: STL), the parent company of Sterling National Bank, today announced that it plans to release results for the third quarter ended September 30, 2021 after the market close on Wednesday, October 20, 2021. Jack Kopnisky, President and CEO of Sterling Bancorp, will host a teleconference and webcast on Thursday, October 21, 2021 at 8:00 AM Eastern Time to discuss the Company’s results. Analysts, investors and interested parties are invited to listen to the webca...
The general evaluation of STERLING BANCORP (US), a company active in the Money Center Banks industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date September 24, 2021, the closing pr...
Sterling Bancorp Announces Strategic Investment in Texture Capital Holdings Corp., an Institutional Marketplace for Private Capital PEARL RIVER, N.Y., Sept. 07, 2021 (GLOBE NEWSWIRE) -- Sterling Bancorp (NYSE: STL) (“Sterling”), today announced a strategic investment in Texture Capital Holdings Corp., which through its wholly-owned subsidiary Texture Capital, Inc. (together, “Texture”), operates an SEC registered broker dealer and Alternative Trading System (“ATS”). Texture supports both the issuance of private placement digital securities and an electronic marketplace for institutional p...
Webster, Sterling Stockholders Approve Merger WATERBURY, Conn. and PEARL RIVER, N.Y., Aug. 17, 2021 (GLOBE NEWSWIRE) -- Webster Financial Corporation (NYSE: WBS) (“Webster”) and Sterling Bancorp (NYSE: STL) (“Sterling”) jointly announced that each company’s stockholders have approved the proposed merger between Webster and Sterling at their respective special meetings of stockholders held today. The final voting results on the proposals voted on at the special meetings will be set forth in the companies’ separate Form 8-Ks filed with the U.S. Securities and Exchange Commission (the “SE...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Sterling Bancorp Declares Quarterly Dividend on Preferred Stock PEARL RIVER, N.Y., July 30, 2021 (GLOBE NEWSWIRE) -- Sterling Bancorp (NYSE: STL), the parent company of Sterling National Bank, today announced that its Board of Directors has declared a quarterly cash dividend of $16.25 per share ($0.40625 per each depositary share) on its 6.50% Series A Non-Cumulative Perpetual Preferred stock (NYSE: STLPRA). The dividend is payable on October 15, 2021 to shareholders of record as of September 24, 2021. About Sterling Bancorp Sterling Bancorp, whose principal subsidiary is Sterling Natio...
Sterling Bancorp announces results for the second quarter and first half of 2021. Diluted earnings per share available to common stockholders in the second quarter of 2021 of $0.50 (as reported) and $0.52 (as adjusted). Key Performance Highlights GAAP net income available to common stockholders was $96.4 million.Adjusted net income increased to $100.5 million from $97.6 million in the linked quarter.Reported net interest margin excluding accretion income1 of 3.30% was flat compared to the linked quarter.Cost of funding liabilities decreased by seven bps to 20 bps; earning asset yields decr...
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