Sterling Bank

City National Bank Names Adey Tesfaye as Head of Community Reinvestment Act (CRA) Department

Retrieved on: 
Monday, February 26, 2024
CRA, California Bank and Trust, Personal, Adey, Economic development, Investment, Community Reinvestment Act, City, Small business, Government, City National Bank, Sterling Bank, Local Initiatives Support Corporation, Organization, Community, HSBC

LOS ANGELES, Feb. 26, 2024 (GLOBE NEWSWIRE) -- City National Bank has named Adey Tesfaye as the new head of its Community Reinvestment Act (CRA) department.

Key Points: 
  • LOS ANGELES, Feb. 26, 2024 (GLOBE NEWSWIRE) -- City National Bank has named Adey Tesfaye as the new head of its Community Reinvestment Act (CRA) department.
  • City National is committed to investing in its communities through its CRA initiatives that include providing loans and investments for affordable housing and economic development.
  • “Adey’s wealth of experience in community reinvestment will help City National make a significant impact through our community development initiatives in areas that need it most,” said David Cameron, executive vice president of Personal & Business Banking, City National Bank.
  • Prior to City National, she worked at Sterling Bank & Trust, where she served as senior vice president and CRA officer.

Sterling Bancorp Reports Fourth Quarter and Full Year 2023 Financial Results

Retrieved on: 
Wednesday, January 24, 2024
Banking, Professional Services, Finance, F.S.B, Income tax, Sterling Bancorp, Policy, Bank, Treasury, Expense, Trust, Insurance, Recovery, Currency, Comptroller, Government, SBT, Sterling, DOJ, Sterling Bank, Sale, Environment, Plea, Tax, Investment, Federal Home Loan Banks, NOW, Webcast, Cryptocurrency

(the “Bank”), today reported its financial results for the quarter and year ended December 31, 2023.

Key Points: 
  • (the “Bank”), today reported its financial results for the quarter and year ended December 31, 2023.
  • Recoveries during the fourth and third quarter of 2023 were $64 thousand and $1 thousand, respectively, with no charge offs in either quarter.
  • Net Interest Income and Net Interest Margin – Net interest income for the fourth quarter of 2023 was $15.1 million compared to $16.0 million for the prior quarter of 2023 and $18.5 million for the fourth quarter of 2022.
  • Non-Interest Income – Non-interest income for the fourth quarter of 2023 was $0.2 million compared to $0.4 million for the prior quarter and $0.2 million for the fourth quarter of 2022.

Sterling Bancorp, Inc. to Announce Fourth Quarter and Full Year 2023 Financial Results on Wednesday, January 24, 2024

Retrieved on: 
Wednesday, January 10, 2024
Banking, Professional Services, Finance, SBT, Sterling Bank, F.S.B, Trust, International, Webcast

Sterling Bancorp, Inc. (the “Company”) (NASDAQ: SBT), the thrift holding company for Sterling Bank and Trust, F.S.B., Southfield, Michigan (the “Bank”), today announced that it expects to issue its financial results for the fourth quarter and full year 2023 prior to the market open on Wednesday, January 24, 2024.

Key Points: 
  • Sterling Bancorp, Inc. (the “Company”) (NASDAQ: SBT), the thrift holding company for Sterling Bank and Trust, F.S.B., Southfield, Michigan (the “Bank”), today announced that it expects to issue its financial results for the fourth quarter and full year 2023 prior to the market open on Wednesday, January 24, 2024.
  • The Company will also host a conference call and webcast on Wednesday, January 24, 2024 at 11 a.m. (ET) to discuss its financial results.
  • Telephone Replay (available through January 31, 2024): U.S. callers: (877) 344-7529; International callers: (412) 317-0088; conference ID: 1967279
    Webcast Access: https://event.choruscall.com/mediaframe/webcast.html?webcastid=m8xIWkHW A live webcast will be available in the Investor Relations section of the Company’s website.
  • An archived version of the webcast will be available in the same location shortly after the live call has ended.

Sterling Bancorp Reports Third Quarter 2023 Financial Results

Retrieved on: 
Wednesday, October 25, 2023
Banking, Professional Services, Finance, Insurance, Instability, Sale, SBT, Bank, History of the Federal Reserve System, Federal Reserve Bank of Chicago, Government, Pressure, United States Department of Justice, Fraud, Sterling Bank, Federal Reserve Bank, Environment, Sterling Bancorp, Trust, NOW, Expense, Risk, Webcast, District court, Federal Reserve, Recovery, F.S.B, Current Expected Credit Losses, Total, Plea, Sterling, Cryptocurrency

Sterling Bancorp, Inc. (NASDAQ: SBT) (“Sterling” or the “Company”), the holding company of Sterling Bank and Trust, F.S.B.

Key Points: 
  • Sterling Bancorp, Inc. (NASDAQ: SBT) (“Sterling” or the “Company”), the holding company of Sterling Bank and Trust, F.S.B.
  • (the “Bank”), today reported its unaudited financial results for the third quarter ended September 30, 2023.
  • The net interest margin of 2.62% for the third quarter of 2023 decreased slightly from the net interest margin of 2.64% for the second quarter of 2023.
  • Non-Interest Expense – Non-interest expense of $17.7 million for the third quarter of 2023 reflected an increase of $0.4 million, or 2%, compared to the second quarter of 2023.

Sterling Bancorp, Inc. to Announce Third Quarter 2023 Financial Results on Wednesday, October 25, 2023

Retrieved on: 
Wednesday, October 11, 2023
Banking, Professional Services, Finance, SBT, Sterling Bank, Trust, Webcast, F.S.B, International, Cryptocurrency

Sterling Bancorp, Inc. (the “Company”) (NASDAQ: SBT), the thrift holding company for Sterling Bank and Trust, F.S.B., Southfield, Michigan (the “Bank”), today announced that it expects to issue its financial results for the third quarter 2023 prior to market open on Wednesday, October 25, 2023.

Key Points: 
  • Sterling Bancorp, Inc. (the “Company”) (NASDAQ: SBT), the thrift holding company for Sterling Bank and Trust, F.S.B., Southfield, Michigan (the “Bank”), today announced that it expects to issue its financial results for the third quarter 2023 prior to market open on Wednesday, October 25, 2023.
  • The Company will also host a conference call and webcast on Wednesday, October 25, 2023 at 11 a.m. (ET) to discuss its financial results.
  • Telephone Replay (available through November 1, 2023): U.S. callers: (877) 344-7529; International callers: (412) 317-0088; conference ID: 1707057
    Webcast Access: https://ccmediaframe.com/?id=ajFACh1s A live webcast will be available in the Investor Relations section of the Company’s website.
  • An archived version of the webcast will be available in the same location shortly after the live call has ended.

Lorrie L. Asker Named Chief Banking Officer at First Interstate

Retrieved on: 
Monday, August 28, 2023
Banking, Professional Services, Finance, Bachelor of Science in Information Technology, Pacific coast, Communication, Interim, University, College, First Interstate, Business administration, College of William & Mary, Umpqua Holdings Corporation, U.S. Bancorp, Timeline of the University of Idaho, CBO, Faculty, Interstate Highway System, Master of Business Administration, Sterling Bank, Management, Science

First Interstate BancSystem, Inc. (NASDAQ: FIBK) (“First Interstate” or the “Company”) has appointed Lorrie L. Asker as Executive Vice President and Chief Banking Officer (“CBO”).

Key Points: 
  • First Interstate BancSystem, Inc. (NASDAQ: FIBK) (“First Interstate” or the “Company”) has appointed Lorrie L. Asker as Executive Vice President and Chief Banking Officer (“CBO”).
  • Asker oversees all retail and commercial banking operations across First Interstate’s 14-state footprint.
  • “Lorrie has a strong understanding of and passion for First Interstate’s community banking model,” explained FIBK President and CEO Kevin Riley.
  • Asker previously led the commercial and industrial banking division for First Foundation Bank and oversaw commercial analysis and systems at Umpqua Bank.

Sterling Bancorp Reports Second Quarter 2023 Financial Results

Retrieved on: 
Wednesday, July 26, 2023
Banking, Professional Services, Finance, NIM, OCC, Pressure, Insurance, Justice, Income tax, U.S. Department of Defense Strategy for Operating in Cyberspace, Private law, Current Expected Credit Losses, United States Department of Justice Tax Division, Sterling Bancorp, Disclosure, U.S. Department of Justice Office of Legislative Affairs, Trust, GAAP, Plea, Government, Benefit, Sale, Asset, Expense, District court, United States Department of Justice Criminal Division, Subordination, Bargaining, Consent decree, Division, London Interbank Bid Rate, F.S.B, Recovery, Sterling, Bank, SBT, Letter, Enforcement, News, Sterling Bank, NOW, Community Advantage Loan, Cryptocurrency, Real estate, Security (finance), Pharmaceutical industry

(the “Bank”), today reported its unaudited financial results for the second quarter ended June 30, 2023.

Key Points: 
  • (the “Bank”), today reported its unaudited financial results for the second quarter ended June 30, 2023.
  • Net recoveries during the second quarter of 2023 were $(0.4) million compared to net charge offs of $6.4 million in the first quarter of 2023.
  • Net Interest Income and Net Interest Margin – Net interest income for the second quarter of 2023 was $16.2 million compared to $17.7 million for the first quarter of 2023 and $19.5 million for the second quarter of 2022.
  • The net interest margin of 2.64% for the second quarter of 2023 decreased from the net interest margin of 2.93% for the first quarter of 2023 and decreased from the net interest margin of 2.95% for the second quarter of 2022.

Sterling Bancorp, Inc. Plea Agreement with DOJ Receives Final Court Approval

Retrieved on: 
Wednesday, July 19, 2023
Banking, Professional Services, Finance, IPO, Justice, Office of Inspector General, U.S. Department of Health and Human Services, DOJ, Sterling Bancorp, U.S. Department of Justice Office of Legislative Affairs, Trust, Plea, District court, United States Department of Justice Criminal Division, Bargaining, F.S.B, Bank, SBT, Fraud, Sterling Bank, Community Advantage Loan, Cryptocurrency

Sterling Bancorp, Inc. (NASDAQ: SBT) (the “Company”), the holding company of Sterling Bank and Trust, F.S.B.

Key Points: 
  • Sterling Bancorp, Inc. (NASDAQ: SBT) (the “Company”), the holding company of Sterling Bank and Trust, F.S.B.
  • (the “Bank”), today announced that the United States District Court for the Eastern District of Michigan approved the Plea Agreement previously entered into by the Company with the U.S. Department of Justice, Criminal Division, Fraud Section (the “DOJ”).
  • The restitution amount will be administered by a special master to be appointed by the court.
  • The Company and the DOJ entered into the Plea Agreement on March 15, 2023, resolving the DOJ’s investigation focused on the Bank’s Advantage Loan Program and related issues.

Sterling Bancorp, Inc. to Announce Second Quarter 2023 Financial Results on Wednesday, July 26, 2023

Retrieved on: 
Wednesday, July 12, 2023
Banking, Professional Services, Finance, Webcast, Trust, International, SBT, Sterling Bank, F.S.B, Cryptocurrency

Sterling Bancorp, Inc. (the “Company”) (NASDAQ: SBT), the thrift holding company for Sterling Bank and Trust, F.S.B., Southfield, Michigan (the “Bank”), today announced that it expects to issue its financial results for the second quarter 2023 prior to market open on Wednesday, July 26, 2023.

Key Points: 
  • Sterling Bancorp, Inc. (the “Company”) (NASDAQ: SBT), the thrift holding company for Sterling Bank and Trust, F.S.B., Southfield, Michigan (the “Bank”), today announced that it expects to issue its financial results for the second quarter 2023 prior to market open on Wednesday, July 26, 2023.
  • The Company will also host a conference call and webcast on Wednesday, July 26, 2023 at 11 a.m. (ET) to discuss its financial results.
  • Telephone Replay (available through August 2, 2023): U.S. callers: (877) 344-7529; International callers: (412) 317-0088; conference ID: 5834919
    Webcast Access: https://ccmediaframe.com/?id=X9NnauNG A live webcast will be available in the Investor Relations section of the Company’s website.
  • An archived version of the webcast will be available in the same location shortly after the live call has ended.

SEC Concludes Investigation of Sterling

Retrieved on: 
Thursday, June 22, 2023
Banking, Professional Services, Finance, Sterling Bancorp, Disclosure, Trust, SBT, Letter, Enforcement, Division, Sterling Bank, F.S.B, Financial adviser

Sterling Bancorp, Inc. (NASDAQ: SBT) (the “Company”), the holding company of Sterling Bank and Trust, F.S.B.

Key Points: 
  • Sterling Bancorp, Inc. (NASDAQ: SBT) (the “Company”), the holding company of Sterling Bank and Trust, F.S.B.
  • (the “Bank”), today announced it received a letter from the Division of Enforcement of the U.S. Securities and Exchange Commission (the “SEC”) informing the Company that the Division of Enforcement had concluded its investigation of the Company and does not intend to recommend an enforcement action by the SEC against the Company.
  • As previously disclosed, the Company understands that the SEC investigation related to accounting, financial reporting and disclosure matters, as well as the Company’s internal controls, related to the Company’s now-terminated Advantage Loan Program.