STERLING BANCORP (STL) SEC Filing 10-Q Quarterly report for the period ending Wednesday, September 30, 2015
400 Rella Boulevard
Montebello, NY 10901-4243
FOR IMMEDIATE RELEASE
October 26, 2015
STERLING BANCORP CONTACT:
Luis Massiani, SEVP & Chief Financial Officer
Total revenue2 was $109.4 million.
Core net income1 was $32.0 million and core diluted earnings per share1 were $0.25, which represented growth of 76.3% and 13.6% over the same quarter a year ago.
Tax equivalent net interest margin was 3.76%.
Total non-interest income excluding securities gains was $16.1 million, which represented 14.7% of total revenue2.
Core operating efficiency ratio1 was 49.0%.
Commercial loan growth was $290.7 million, representing an annualized growth rate of 19.1% over the linked quarter.
Loans to deposits ratio of 85.5%; total deposits were $8.8 billion with over 92.7% core deposits and a weighted average cost of deposits of 0.24%.
Core return on average tangible assets1 was 1.21%, compared to 1.06% in the third quarter of 2014.
Core return on average tangible equity1 was 14.33%, compared to 13.81% in the third quarter of 2014.
Established middle market loan syndication team and expanded health care asset-based lending platform through new hires.
Completed termination of legacy Provident Bank and legacy Sterling National Bank defined benefit pension plans.
The following information was filed by STERLING BANCORP on Monday, October 26, 2015 as an 8K 2.02 statement, which is a press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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- Form Type: Quarterly
- Number of times amended: 0
- Accession Number: 0001070154-15-000030
- Submitted to the SEC: Thursday, November 5, 2015
- Accepted by the SEC: Thursday, November 5, 2015
- Period Ending: September 2015