Last $13.31 USD
Change Today +0.08 / 0.60%
Volume 256.7K
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As of 8:04 PM 10/24/14 All times are local (Market data is delayed by at least 15 minutes).

sterling bancorp/de (STL) Key Developments

Sterling Bancorp. Presents at The RBC Capital Markets' 2014 Financial Institutions Conference, Sep-17-2014 11:15 AM

Sterling Bancorp. Presents at The RBC Capital Markets' 2014 Financial Institutions Conference, Sep-17-2014 11:15 AM. Venue: Hyatt Regency Boston, One Avenue de Lafayette, Boston, MA 02111, United States. Speakers: Luis Massiani, Chief Financial Officer, Executive Vice President, Principal Accounting Officer, Chief Financial Officer of Provident Bank and Executive Vice President of Provident Bank.

Sterling Bancorp Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended June 30, 2014; Reports Net Charge-Offs for the Third Quarter Ended June 30, 2014

Sterling Bancorp reported unaudited consolidated earnings results for the third quarter and nine months ended June 30, 2014. For the quarter, the company’s net income was $15.0 million, or $0.18 per basic and diluted share, compared to net income of $6.4 million, or $0.15 per basic and diluted share for the same quarter a year ago. Total interest income was $65.8 million compared to $32.6 million a year ago. Net interest income was $58.5 million, up $30.1 million compared to $28.32 million for the third quarter of fiscal 2013. This was mainly the result of higher average loans and investment securities balances and an increase in net interest margin due to the merger transaction with legacy Sterling Bancorp. Net interest income increased $4.4 million compared to the linked quarter ended March 31, 2014. The increase in net interest income for the third quarter was due to higher average loans and investment securities balances and an increase in net interest margin. Income before income tax expense was $21.1 million compared to $9.21 million a year ago. Return on average assets was 0.85% compared to 0.68% a year ago. Return on average equity was 6.37% compared to 5.18% a year ago. Book value per share was $11.40. For the nine months, the company’s net income was $11.3 million, or $0.14 per basic and diluted share, compared to $19.9 million, or $0.45 per diluted share for the nine months ended June 30, 2013. Total interest income was $179.8 million compared to $98.2 million a year ago. Net interest income was $158.4 million compared to $84.1 million a year ago. Income before income tax expense was $15.04 million compared to $28.03 million a year ago. The company reported net charge-offs for the third quarter ended June 30, 2014. Net charge-offs against the allowance for loan losses for the quarter ended June 30, 2014 were $1.6 million.

Sterling Bancorp Declares Quarterly Dividend Payable August 14, 2014

Sterling Bancorp. announced that the board of directors has declared a quarterly cash dividend of $0.07 per share. The dividend is payable August 14, 2014 to holders of record as of August 4, 2014.

Sterling Bancorp. to Report Q3, 2014 Results on Jul 28, 2014

Sterling Bancorp. announced that they will report Q3, 2014 results at 5:00 PM, Eastern Standard Time on Jul 28, 2014

Sterling Bancorp., Q3 2014 Earnings Call, Jul 29, 2014

Sterling Bancorp., Q3 2014 Earnings Call, Jul 29, 2014

 

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