Sterling Bancorp (STL) Tops Q1 EPS by 5c

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Go back to Sterling Bancorp (STL) Tops Q1 EPS by 5c

Sterling Bancorp announces results for the first quarter of 2021 with diluted earnings per share available to common stockholders of $0.50 (as reported) and $0.51 (as adjusted).

April 19, 2021 6:50 AM EDT

Key Performance Highlights

GAAP EPS increased $0.12 and adjusted EPS increased $0.02 over the linked quarter.Net interest margin excluding accretion income1 of 3.30%, an increase of five basis points (bps) over the linked quarter.Cost of funding liabilities decreased by six bps to 27 bps; earning asset yields decreased by one bp to 3.68%.Adjusted PPNR excluding accretion income1, 2 of $123.9 million; declined $6.4 million, or 4.9%,... More