Sterling Bancorp, Inc. (Southfield, MI) (SBT)

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SBT earnings call for the period ending March 31, 2022.

Sterling Bancorp (SBT) delivered earnings and revenue surprises of 150% and 0.37%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock?

Sterling Bancorp (NASDAQ:SBT) reported its Q1 earnings results on Monday, May 2, 2022 at 08:00 AM. Here's what ...

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 first quarter ended March 31, 2022.

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Sterling Bancorp (NASDAQ:SBT) is set to give its latest quarterly earnings report on Monday, 2022-05-02. Here's what investors need to ...

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SBT announce earning release date

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Sterling Bancorp, Inc. (NASDAQ: SBT) (“Sterling” or the “Company”), the holding company of Sterling Bank and Trust, F.S.B. (the “Bank”), today revised its unaudited financial results for its fourth quarter and year ended December 31, 2021 in connection with the filing of its Annual Report on Form 10-K. Subsequent to the Company’s press release issued on February 3, 2022, the Company entered into an agreement with a third-party purchaser to sell a pool of its commercial real estate loans. The loans had been reclassified as held for sale and written down to fair value as of year-end. The Company later determined that the timing of the measurement of the commercial real estate loans at fair value relative to their sale indicated the estimated fair value of the loans at year-end should have been higher. Accordingly, the Company has revised its fair value estimate of the sold commercial real estate loans to correspond to their sale price. The net result of this change was to increase net income for the three months and year ended December 31, 2021 to $8.1 million and $23.4 million, respectively. The revision of the fair value of the sold loans at year-end also results in changing our allowance for loan losses at December 31, 2021 to $56.5 million and our provision (recovery) for loan losses to ($6.1 million) and ($8.3 million) for the three months and year ended December 31, 2021, respectively. The material resulting revisions to the Company’s financial highlights for the fourth quarter and full year ended December 31, 2021 are below.

Sterling Bancorp, Inc. (NASDAQ: SBT) (“Sterling” or the “Company”), the holding company of Sterling Bank and Trust, F.S.B. (the “Bank”), today announced that on March 24, 2022, the Company appointed Mr. Michael Donahue and Mr. Eboh “Duke” Okorie to the Board of Directors of the Company (the “Board”), effective immediately. Mr. Donahue and Mr. Okorie will serve as directors until the 2022 annual meeting of the shareholders of the Company (the “2022 Annual Meeting”) and until their respective successors are duly elected and qualified or their earlier resignation or removal. Mr. Donahue and Mr. Okorie have been nominated for re-election by the Company’s shareholders at the 2022 Annual Meeting. Mr. Donahue and Mr. Okorie have also been appointed to the Board of Directors of the Bank, subject to the receipt of appropriate regulatory approvals and non-objections.

Sterling Bancorp (SBT) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.

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Sterling Bancorp, Inc. (the “Company”) (NASDAQ: SBT), the thrift holding company for Sterling Bank and Trust, F.S.B. (the “Bank”), today announced the completion of the sale of a pool of its commercial real estate loans to a third-party purchaser. The pool consisted of 21 loans with an aggregate outstanding principal balance of approximately $56.8 million at December 31, 2021. The commercial real estate loans sold are primarily secured by single-room occupancy hotel properties.

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Sterling Bancorp, Inc. (the “Company”) (NASDAQ: SBT), the thrift holding company for Sterling Bank and Trust, F.S.B. (the “Bank”), today announced that the Bank has entered into an agreement with a third-party purchaser to sell a pool of its commercial real estate loans. The pool consists of 21 loans with an aggregate outstanding principal balance of approximately $56.8 million at December 31, 2021. The loans were reclassified as held for sale and written down to fair value as of year-end, and we will receive $4.4 million in excess of their carrying amount in connection with their sale. The commercial real estate loans being sold are primarily secured by single-room occupancy hotel properties. The closing of this transaction is subject to customary closing conditions.

SBT earnings call for the period ending December 31, 2021.

Sterling Bancorp (SBT) delivered earnings and revenue surprises of 66.67% and 11.37%, respectively, for the quarter ended December 2021. Do the numbers hold clues to what lies ahead for the stock?

Sterling Bancorp (NASDAQ:SBT) reported its Q4 earnings results on Thursday, February 3, 2022 at 08:00 AM. Here's what ...

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 financial results for the quarter and year ended December 31, 2021.

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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 ended December 31, 2021 prior to market open on Thursday, February 3, 2022.

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