Sterling Bancorp, Inc.: management transactions · United States · SEC (Form 4)

About Sterling Bancorp, Inc.

Sterling Bancorp, Inc. is a U.S. financial holding company that was historically listed on the Nasdaq Capital Market under the ticker SBT and headquartered in Southfield, Michigan, United States. Its operating history was centered on Sterling Bank and Trust, F.S.B., a wholly owned subsidiary formed in 1984, while the holding company itself was incorporated in 1989. Before the 2025 divestiture, Sterling was effectively a regional thrift-style banking franchise with a focused geographic footprint and a business model built around relationship banking rather than broad national scale. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1680379/000141057825000346/sbt-20241231x10k.htm?utm_source=openai)) The company’s core activities were conducted through the bank subsidiary and included retail and business banking services, deposit products such as checking, savings and term certificates, and a lending platform spanning commercial real estate loans, commercial and industrial loans, and residential mortgage banking. In addition to originating and servicing loans, the bank bought, sold and serviced residential mortgage loans, making the franchise a mixed lender with exposure to both credit and housing-market dynamics. This profile placed Sterling in the mid-sized regional bank segment, where competitive differentiation typically depends on underwriting discipline, local market relationships, and funding stability. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1680379/000141057825000346/sbt-20241231x10k.htm?utm_source=openai)) Geographically, Sterling’s historical network was concentrated in California. The company disclosed 27 branches before the transaction, with 25 located in the San Francisco and Los Angeles metropolitan areas, plus one branch in New York City and one in Southfield, Michigan. That footprint gave Sterling a meaningful presence in two large, economically important California markets, while also underscoring its limited national diversification. Its competitive position was therefore more niche than scale-driven, with a stronger emphasis on local commercial real estate and business banking relationships than on nationwide product breadth. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1680379/000141057825000346/sbt-20241231x10k.htm?utm_source=openai)) The key recent development is transformational: on March 31, 2025, Sterling announced and completed the sale of all issued and outstanding shares of Sterling Bank and Trust, F.S.B. to EverBank Financial Corp for a fixed cash purchase price of $261 million. The bank then merged into EverBank, National Association, the company notified Nasdaq that it would halt trading and withdraw the listing, and Sterling filed for dissolution under Michigan law. The board also announced an initial liquidating distribution of $4.85 per share. As a result, Sterling Bancorp, Inc. is no longer an ongoing operating bank franchise and is instead in wind-down mode, which is the most important factor for investors to understand when assessing the name today. ([sec.gov](https://www.sec.gov/Archives/edgar/data/0001680379/000110465925030586/tm2510964d1_8k.htm))