Sterling Bancorp Inc (SBT) Misses Q3 EPS by 8c

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Go back to Sterling Bancorp Inc (SBT) Misses Q3 EPS by 8c

Sterling Bancorp Reports Third Quarter 2020 Financial Results

October 28, 2020 4:05 PM EDT

SOUTHFIELD, Mich.--(BUSINESS WIRE)-- Sterling Bancorp, Inc. (NASDAQ: SBT) (Sterling or the Company), the holding company of Sterling Bank and Trust, F.S.B. (the Bank), today reported unaudited financial results for its third quarter ended September 30, 2020.

Third Quarter Highlights

Net loss of $111 thousand, or $(0.00) per share Net interest margin of 2.74% Non-interest expense of $25.0 million, including $12.2 million of professional fees Provision for loan losses of $2.1 million, increasing the allowance for loan losses to 1.80% of total... More