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Sterling Bancorp Priced, Nasdaq: SBT

Bank focused on residential mortgage loans in California.

Industry: Financials

First Day Return: +1.3%

We are a unitary thrift holding company headquartered in Southfield, Michigan with our primary branch operations in San Francisco and Los Angeles, California. Through Sterling Bank and Trust, F.S.B., a qualified thrift lender, we offer a broad range of loan products to the residential and commercial markets, as well as retail and business banking services. Since 2013, we have grown organically at a compound annual growth rate of 29% while maintaining stable margins and solid asset quality. We have made significant investments over the last several years in staffing and upgrading technology and system security. In 2017, we opened a loan production office in Seattle, Washington and a branch in New York City. We plan to open additional branches in Los Angeles and Seattle in 2018. As of June 30, 2017, the Company had total consolidated assets of $2.4 billion, total consolidated deposits of $1.8 billion and total consolidated shareholders' equity of $174.3 million.
IPO Data
IPO Date 11/16/2017
Offer Price IPO Intelligence Only
Price Range IPO Intelligence Only
Offer Shares (mm) IPO Intelligence Only
Deal Size ($mm) $180
Lock-Up Date IPO Intelligence Only
Street Research IPO Intelligence Only
Underwriters
IPO Intelligence Only
Company Data
Headquarters Southfield, MI, United States
Founded 1984
Employees at IPO 294
Website www.sterlingbank.com

Sterling Bancorp (SBT) Performance

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