Sterling Bancorp to sell Sterling Bank and Trust, F.S.B
Sterling in Michigan to sell bank for $261 million
EverBank Financial in Florida said the deal would give it $900 million of loans and $2 billion of deposits. Should the deal close in early 2025 as planned, it would end a long saga for Sterling.
Sterling Bancorp Announces Sale of Sterling Bank and Trust, F.S.B. to EverBank Financial Corp and Adoption of Plan of Dissolution
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 the Company has entered into a definitive stock purchase agreement with Jacksonville,
EverBank to Acquire Sterling Bank
EverBank Financial has entered into a stock purchase agreement to acquire Sterling Bank & Trust and merge it into EverBank.
The story behind EverBank’s deal to acquire troubled Sterling Bancorp
EverBank is paying $261 million in cash to buy the bank and Sterling said in a Securities and Exchange Commission filing its stockholders would receive about $4.91 per share in the deal, lower than Sterling’s closing price of $5.75 on the last trading day before the announcement. That news sent Sterling’s stock down $1.09 to $4.66 on Sept. 16.
EverBank to buy Michigan’s Sterling Bank for $261M
The deal includes 25 branches, $900 million in loans and $2 billion in deposits; but not Sterling’s sole Michigan branch or its $372.9 million portfolio of residential tenant-in-common mortgage loans.
Sterling Bancorp Announces Sale of Sterling Bank and Trust, F.S.B. to EverBank Financial Corp and Adoption of Plan of Dissolution
In EverBank, we believe that we have found solutions ... The mono-line nature of the Bank’s legacy Advantage Loan Program business model has created a significant revenue void for us.
Sterling Bancorp to sell Sterling Bank and Trust, F.S.B to EverBank
Sterling Bancorp (NASDAQ:SBT) said EverBank Financial will acquire all the stock of Sterling Bank and Trust, F.S.B for fixed cash consideration of $261M. SBT's board has unanimously approved the sale,
Sterling Bank And Trust To Be Acquired By EverBank Financial For $261 Million Cash
Sterling Bancorp, Inc. (SBT), the holding company of Sterling Bank and Trust, F.S.B., announced Monday that the Company has entered
Business Insider2d
EverBank (TIAA Bank) Review 2024
EverBank has an A+ rating from the Better Business Bureau. A strong BBB indicates that a company responds effectively to customer complaints, advertises honestly, and is transparent about ...
Southfield-based Sterling Bank being sold to Florida institution
Sterling Bancorp, Inc., the Southfield-based parent company of Sterling Bank and Trust, said Monday it has entered into an ...
Financial News & Daily Record6d
EverBank expanding into California with $261 million acquisition
Jacksonville-based bank is acquiring Sterling Bancorp, which has 25 branches in San Francisco and Los Angeles.
MarketWatch6d
Sterling Bank Parent Agrees to $261 Million Buyout from EverBank
The parent company of Sterling Bank and Trust said it has reached a deal to sell the bank to EverBank Financial for $261 million ... Dow Jones Newswires is a market-moving financial and business ...
The New York Times11d
Jaguars rename EverBank Stadium to TrEverBank Stadium for home opener vs. Browns
The Jaguars’ home, EverBank Stadium, will be renamed to TrEverBank Stadium for their Week 2 game against the Cleveland Browns, the team announced Thursday. Lawrence collaborated with EverBank, ...