Sterling Bancorp, Inc. (Southfield, MI) announces an Equity Buyback for $50 million worth of its shares.
January 28, 2019 at 04:32 pm
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Sterling Bancorp, Inc. (Southfield, MI) (NasdaqCM:SBT) announces a share repurchase program. Under the program, the company will repurchase up to $50 million worth of its common stock. The repurchase program will be funded from cash on hand. The company received approval from Regulatory Board. The program has no expiration date.
Sterling Bancorp, Inc. is a unitary thrift holding company. It operates through Sterling Bank and Trust, F.S.B. (the Bank). The Bank originates commercial real estate loans and commercial and industrial loans, and provides deposit products, including checking, savings and term certificate accounts. It also engages in mortgage banking activities and, as such, acquires, sells and services residential mortgage loans. It offers a variety of commercial loan products, such as commercial real estate loans, construction loans and commercial and industrial loans. It offers traditional depository products, including checking, savings, money market, individual retirement accounts and certificates of deposits, to individuals and businesses throughout its market areas. It operates through a network of 27 branches, of which 25 branches are located in the San Francisco and Los Angeles, California metropolitan areas, with the remaining branches located in New York, New York and Southfield, Michigan.
STERLING BANCORP, INC. (SOUTHFIELD, MI) 
