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Sterling Bancorp  (STL)
Other Ticker:  
 
    Sector  Financial    Industry Commercial Banks
   Industry Commercial Banks
   Sector  Financial
 
Price: $0.0000 $0.00 %
Day's High: 0.00 Week Perf:
Day's Low: $ 0.00 30 Day Perf:
Volume (M): 0 52 Wk High: $ 0.00
Volume (M$): $ 0 52 Wk Avg: $0.00
Open: $0.00 52 Wk Low: $0.00



 Market Capitalization (Millions $) -
 Shares Outstanding (Millions) 192
 Employees 1,089
 Revenues (TTM) (Millions $) 959
 Net Income (TTM) (Millions $) 370
 Cash Flow (TTM) (Millions $) 492
 Capital Exp. (TTM) (Millions $) 23

Sterling Bancorp

Sterling Bancorp is a Delaware corporation, bank holding company and financial holding company that owns all of the outstanding shares of common stock of its principal subsidiary, Sterling National Bank (the “Bank”). Under the terms of the HVB Merger, HVHC shareholders received 1.92 shares of our common stock for each share of HVHC common stock. The HVB Merger has furthered our strategy of expanding in the greater New York metropolitan region by providing us with a significant presence and deposit market share in Westchester County, New York, and created an opportunity to realize significant operating expense savings.

On October 31, 2013, when we were formerly known as Provident New York Bancorp (“Legacy Provident”) and the parent company of the Bank, then called Provident Bank, we acquired Sterling Bancorp (“Legacy Sterling”) through a merger. Legacy Provident was the accounting acquirer and surviving entity. At that time, we became a bank holding company and a financial holding company as defined by the Bank Holding Company Act of 1956, as amended, or the BHC Act. Legacy Sterling’s principal subsidiary, Sterling National Bank, merged into our principal subsidiary, the Bank, which was then called Provident Bank. The Bank changed its legal entity name to Sterling National Bank. We refer to the transactions detailed above collectively as the “Provident Merger”.The Bank is a full-service regional bank founded in 1888. Headquartered in Montebello, New York, the Bank specializes in the delivery of services and solutions to business owners, their families and consumers within the communities we serve through teams of dedicated and experienced relationship managers. The Bank offers a complete line of commercial, business, and consumer banking products and services.

Subsidiaries
We and the Bank maintain a number of wholly-owned subsidiaries, including a company that originates loans to municipalities and governmental entities and acquires securities issued by state and local governments, a real estate investment trust that holds real estate mortgage loans, several subsidiaries that hold foreclosed properties acquired by the Bank, a Vermont captive insurance company and other subsidiaries that have an immaterial impact on our financial condition or results of operations.

Through the Bank, we operate as a regional bank providing a broad offering of deposit, lending and wealth management products to commercial, consumer and municipal clients in our market area. We focus mainly on delivering products and services to small and middle market commercial businesses and affluent consumers. We believe that this is a client segment that is underserved by larger bank competitors in our market area.

Our primary strategic objective is to generate sustainable growth in revenues and earnings. To achieve this goal, we focus on the following initiatives:

Target on specific “high value” customer segments and geographic markets.

Deploy a single point of contact, relationship-based distribution strategy through our commercial banking teams and financial centers.

Continuously expand our delivery and distribution channels by recruiting new commercial teams.

Maximize efficiency through a technology enabled, low-cost operating platform and controlling operating costs.

Create a high productivity culture through differentiated compensation programs based on a pay-for-performance philosophy.

Maintain strong risk management systems and proactively manage enterprise risk.

The Bank targets the following geographic markets: (i) the New York Metro Market, which includes Manhattan and Long Island; and (ii) 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. We believe the Bank operates in an attractive footprint that presents us with significant opportunities to execute our strategy.



   Company Address: Two Blue Hill Plaza Pearl River, 10965 NY
   Company Phone Number: 369-8040   Stock Exchange / Ticker: NYSE STL
   


Customers Net Income grew by STL's Customers Net Profit Margin grew to

60.94 %

16.66 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

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