Sterling Bancorp (STL) Reports Q4 EPS of $1.11

Sterling Bancorp Announces Record Results for the Three and Twelve Months Ended December 31, 2016

January 24, 2017 4:15 PM EST

MONTEBELLO, NY -- (Marketwired) -- 01/24/17 --

Key Performance Highlights for the Twelve Months ended December 31, 2016 vs. December 31, 2015 ($ in thousands except per share amounts) GAAP / As Reported Non-GAAP / As Adjusted(1) -------------------------- --------------------------- Change Change 2015 2016 % / bps 2015 2016 % / bps -------- --------- ------- --------- --------- ------- Net income $66,114 $139,972 111.7% $105,398 $145,518 38.1% Diluted EPS 0.60 1.07 78.3 0.96 1.11 15.6 Net interest margin(2) 3.60% 3.44% (16) 3.67% 3.55% (12) Return on average tangible equity 8.70 14.34 564 13.86 14.90 104 Return on average tangible assets 0.73 1.15 42 1.17 1.20 3 Efficiency ratio(3) 69.6 52.2 (1,740) 50.8 46.2 (460) Total portfolio loans reached a record $9.5 billion as of December 31, 2016.Loan growth was $1.7 billion, or 21.2% (end of period balances, including acquired loans).Loans to deposits ratio of 94.6%; total... More