Edition:
United States

Profile: Sterling Bancorp Inc (SBT.PH)

SBT.PH on Philadelphia Stock Exchange

10.00USD
13 Jun 2019
Change (% chg)

-- (--)
Prev Close
$10.00
Open
--
Day's High
--
Day's Low
--
Volume
--
Avg. Vol
740
52-wk High
$13.66
52-wk Low
$7.15

Sterling Bancorp, Inc., incorporated on September 22, 1989, is a holding company. The Company, through its subsidiary, Sterling Bank and Trust, F.S.B. (the Bank), offers a range of loan products to the residential and commercial markets, as well as retail banking services. As of October 19, 2017, it operated through 26 branches, including 20 in the San Francisco area, four in greater Los Angeles, one in New York City and one branch in Michigan.

Lending activities

The Bank offers a range of loan products to the residential and commercial markets. Its loan portfolio includes one-to four-family residential loans, commercial loans, commercial real estate, construction loans, commercial lines of credit and consumer loans. It offers fixed-rate and adjustable-rate mortgage loans with terms of up to 30 years. Its single-family residential real estate portfolio is secured by real estate. It also offers a variety of commercial loan products, consisting primarily of commercial real estate loans, construction loans, business loans and business lines of credit. Its commercial real estate portfolio includes single room occupancy, hotels, office, industrial, retail, multifamily and mixed-use properties. Its construction loans consist of residential construction, commercial construction and mixed-use development. The Bank also offer commercial lines of credit to businesses and individuals for business purposes.

Investment activities

The Bank’s invests in various securities and equities. Its investment portfolio consisted of 80% treasuries and 20% other collateralized debt obligations, equity or other securities. Its investment portfolio includes United States treasuries, agency mortgage-backed securities, non-agency collateralized mortgage obligations, collateralized debt obligations, equity securities and other securities.

Sources of funds

Deposits are the main sources of funds for the Bank’s activities. The Bank offers depository products, including checking, savings, money market, individual retirement accounts (IRAs) and certificates of deposits, to individuals and businesses. It offers customers traditional retail deposit products through its branch network and the ability to access their accounts through online and mobile banking platforms. The Bank also borrows loans from Federal Home Loan Bank as a source of fund.

Company Address

Sterling Bancorp Inc

1 Towne Sq Ste 1900
SOUTHFIELD   MI   48076-3765
P: +1248.3513495

Company Web Links