Sterling Bancorp: 4Q Earnings Snapshot

SOUTHFIELD, Mich. (AP) _ Sterling Bancorp Inc. (SBT) on Monday reported fourth-quarter earnings of $16 million.

The bank, based in Southfield, Michigan, said it had earnings of 30 cents per share.

The bank holding company posted revenue of $49 million in the period. Its revenue net of interest expense was $36.7 million, beating Street forecasts.

For the year, the company reported profit of $63.5 million, or $1.20 per share. Revenue was reported as $142.1 million.

Sterling Bancorp shares have risen 17 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $8.10, a fall of 39 percent in the last 12 months.


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