Sterling Bancorp, Inc. (Southfield, Mi) Reports Net Charge Offs During the First Quarter of 2023
May 01, 2023 at 07:25 am EDT
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Sterling Bancorp, Inc. (Southfield, MI) reported Net charge offs during the first quarter of 2023. For the quarter, the company reported Net charge offs of $6.4 million compared to net recoveries of $0.3 million in the fourth quarter of 2022.
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) 
