Sterling Bancorp, Inc. (Southfield, MI) Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
October 31, 2022 at 07:50 am EDT
Share
Sterling Bancorp, Inc. (Southfield, MI) reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported net interest income was USD 19.54 million compared to USD 22.64 million a year ago. Net income was USD 1.18 million compared to USD 9.56 million a year ago. Basic earnings per share from continuing operations was USD 0.02 compared to USD 0.19 a year ago. Diluted earnings per share from continuing operations was USD 0.02 compared to USD 0.19 a year ago.
For the nine months, net interest income was USD 60.28 million compared to USD 69.46 million a year ago. Net income was USD 4.24 million compared to USD 15.33 million a year ago. Basic earnings per share from continuing operations was USD 0.08 compared to USD 0.31 a year ago. Diluted earnings per share from continuing operations was USD 0.08 compared to USD 0.31 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.