Sterling Bancorp, Inc. (Southfield, MI) Reports Earnings Results for the First Quarter Ended March 31, 2023
May 01, 2023 at 07:25 am EDT
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Sterling Bancorp, Inc. (Southfield, MI) reported earnings results for the first quarter ended March 31, 2023. For the first quarter, the company reported net interest income was USD 17.68 million compared to USD 21.27 million a year ago. Net loss was USD 0.503 million compared to net income of USD 5.26 million a year ago.
Basic loss per share from continuing operations was USD 0.01 compared to basic earnings per share from continuing operations of USD 0.1 a year ago. Diluted loss per share from continuing operations was USD 0.01 compared to diluted earnings per share from continuing operations of USD 0.1 a year ago.
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) 
