Sterling Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2018
January 29, 2019 at 03:02 am IST
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Sterling Bancorp, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2018. For the quarter, the company reported total interest income was $43,001,000 against $35,315,000 a year ago. Net interest income was $30,706,000 against $27,493,000 a year ago. Net income was 15,996,000 against $6,531,000 a year ago. Income per share, basic and diluted was $0.3 against $0.13 a year ago.
For the full year, the company reported total interest income was $161,771,000 against $124,836,000 a year ago. Net interest income was $120,100,000 against $99,401,000 a year ago. Net income was $63,468,000 against $37,977,000 a year ago. Income per share, basic and diluted was $1.2 against $0.82 a year ago.
Sterling Bancorp, Inc. is a unitary thrift holding company. It operates through Sterling Bank and Trust, F.S.B. (the Bank). The Bank originates commercial real estate loans and commercial and industrial loans, and provides deposit products, including checking, savings and term certificate accounts. It also engages in mortgage banking activities and, as such, acquires, sells and services residential mortgage loans. It offers a variety of commercial loan products, such as commercial real estate loans, construction loans and commercial and industrial loans. It offers traditional depository products, including checking, savings, money market, individual retirement accounts and certificates of deposits, to individuals and businesses throughout its market areas. It operates through a network of 27 branches, of which 25 branches are located in the San Francisco and Los Angeles, California metropolitan areas, with the remaining branches located in New York, New York and Southfield, Michigan.
STERLING BANCORP, INC. (SOUTHFIELD, MI) 
