2022-10-31 07:34:34 SBT Sterling Bancorp
10/31/22 10/3107:34 10/31/2207:34 | Sterling Bancorp reports Q3 EPS 2c, consensus 4cReports Q3 net charge-offs .12%. Reports Q3 CET1 capital ratio 25.33% "Once more this quarter there are a lot of moving parts in our results, but the main headline is continued and significant improvements in virtually all phases of the Company's operations. Most importantly, as recently disclosed, Sterling and the OCC entered into a Consent Order wherein the Bank agreed to a $6.0 million civil money penalty. In that context and in recognition of the successful work in addressing the many regulatory issues and violations facing the Bank, the Formal Agreement from 2019 was lifted. These represent major milestones for the Bank and are the product of our aggressive approach to remediation and compliance. |
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