Sterling Bancorp Reports Second Quarter 2022 Financial Results
Sterling Bancorp, Inc. (SBT)
Last sterling bancorp, inc. earnings: 10/28 04:07 pm
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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 reported its unaudited financial results for the second quarter ended June 30, 2022.Second Quarter 2022 HighlightsNet loss of $(2.2) million, or $(0.04) per diluted shareNet interest margin of 2.95%Non-interest expense of $19.5 millionProvision (recovery) for loan losses of $(1.1) million; ratio of allowance for loan losses to total loans held for investment of 2.91%Shareholders’ equity of $335.3 millionBank capital ratios continue to be in excess of minimum ratios required to be considered “well-capitalized” with a leverage ratio of 14.44%, a total risk-based capital ratio of 24.93% and a common equity tier one ratio of 23.65%The Company’s consolidated leverage ratio of 12.91%, total risk-based capital ratio of 24.70% and common equity tier one ratio of 21.06% continue to exceed minimum regulatory capita
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