Sterling Bancorp (STL) Reports Q3 EPS of $0.19

Sterling Bancorp Announces Strong Results for the Three and Nine Months Ended September 30, 2016

October 25, 2016 4:10 PM EDT

MONTEBELLO, NY -- (Marketwired) -- 10/25/16 -- Key Performance Highlights for the Three Months ended September 30, 2016 vs. September 30, 2015

($ in thousands except per share amounts) GAAP / As Reported Non-GAAP / As Adjusted1 -------------------------- -------------------------- Change Change % / % / 2015 2016 bps 2015 2016 bps -------- -------- ------ -------- -------- ------ Total revenue2 $112,156 $122,169 8.9% $111,137 $122,371 10.1% Net income 24,193 37,422 54.7 32,035 37,793 18.0 Diluted EPS 0.19 0.29 52.6 0.25 0.29 16.0 Net interest margin3 3.69% 3.41% (28) 3.76% 3.53% (23) Return on average tangible equity 10.82 15.13 431 14.33 15.28 95 Return on average tangible assets 0.91 1.20 29 1.21 1.21 - Efficiency ratio4 63.6 51.0 (1,260) 49.0 45.8 (320) Total portfolio loans reached a record $9.2 billion as of September 30, 2016. Annualized loan growth of 26.6% (end of period balances, including acquired loans) and 20.6% (average... More