Sterling Bancorp Announces Declaration of Initial Liquidating Distribution; Stock Transfer Books Closed; Mr. Thomas M. O’Brien Steps Down as Chairman, President and Chief Executive Officer
Sterling Bancorp, Inc. (SBT)
Last sterling bancorp, inc. earnings: 10/28 04:07 pm
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sterlingbancorp.com
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Source: Business Wire
SOUTHFIELD, Mich.--(BUSINESS WIRE)--Sterling Bancorp, Inc. (NASDAQ: SBT) (“Sterling” or the “Company”) today announced that the Company’s board of directors (the “Board” or “Board of Directors”) has declared an initial liquidating distribution pursuant to its previously announced Plan of Dissolution in the amount of $4.85 per share, or approximately $252 million, payable on April 8, 2025 to shareholders of record as of April 1, 2025 and has set April 1, 2025 as the record date for all future liquidating distributions to shareholders pursuant to the Plan of Dissolution. The Company also announced that it has closed its stock transfer books effective as of the close of business today and has filed a Form 25 with the Securities and Exchange Commission with respect to delisting the Company’s common stock from trading on the Nasdaq Capital Market. The Company expects to file a Form 15 with the SEC within the next 20 days in order to suspend its periodic reporting obligations under the
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