The Office of the Comptroller of the Currency Approves the Sale of Sterling Bank and Trust, F.S.B. to EverBank Financial Corp
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”), the holding company of Sterling Bank and Trust, F.S.B. (the “Bank”), today announced the receipt of regulatory approval from the Office of the Comptroller of the Currency of the Company’s sale of all of the issued and outstanding shares of capital stock of the Bank to EverBank Financial Corp, a Delaware corporation (“EverBank”). In connection with the sale, the Company will receive a fixed purchase price of $261 million in cash pursuant to the definitive Stock Purchase Agreement by and among the Company, the Bank and EverBank, dated September 15, 2024.The sale transaction was unanimously approved by the Company’s board of directors and was subsequently approved by the shareholders of the Company at the special meeting of shareholders held on December 18, 2024, with more than 99% of the votes cast at the special meeting, and 74% of the Company’s outstanding shares, voted in favor
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