Sterling Bancorp, Inc. (SBT) Financial Statements (2024 and earlier)

Company Profile

Business Address ONE TOWNE SQUARE
SOUTHFIELD, MI 48076
State of Incorp. MI
Fiscal Year End December 31
Industry (SIC) 6035 - Savings Institutions, Federally Chartered (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments656,325420,153380,732353,587286,348487,926
Cash and cash equivalents656,325420,153380,732353,587286,348487,926
Total current assets:656,325420,153380,732353,587286,348487,926
Noncurrent Assets
Operating lease, right-of-use asset13,02513,91614,80015,46716,33217,210
Property, plant and equipment5,8506,1396,3016,5856,8487,144
Deferred income tax assets18,53820,06523,70423,90722,02820,865
Total noncurrent assets:37,41340,12044,80545,95945,20845,219
Other undisclosed assets1,838,2721,951,2752,019,1982,048,3582,172,2642,275,984
TOTAL ASSETS:2,532,0102,411,5482,444,7352,447,9042,503,8202,809,129
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities2,214,3342,096,0382,132,1082,118,3032,168,4882,467,723
Total liabilities:2,214,3342,096,0382,132,1082,118,3032,168,4882,467,723
Equity
Equity, attributable to parent317,676315,510312,627329,601335,332341,406
Common stock84,32383,29583,29583,29583,29582,157
Additional paid in capital15,09814,90614,80814,56014,31314,186
Accumulated other comprehensive loss(18,332)(16,739)(19,525)(20,736)(13,582)(8,440)
Retained earnings236,587234,048234,049252,482251,306253,503
Total equity:317,676315,510312,627329,601335,332341,406
TOTAL LIABILITIES AND EQUITY:2,532,0102,411,5482,444,7352,447,9042,503,8202,809,129

Income Statement (P&L) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues28,89422,13521,78620,97520,74924,065
Net investment income28,89422,16021,78620,97520,74623,868
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
  (674)    
Gross profit:28,89421,46121,78620,97520,74924,065
Operating expenses(6,326)(6,071)(8,911)(8,593)(10,015)(8,104)
Operating income:22,56815,39012,87512,38210,73415,961
Nonoperating income
(Bank Owned Life Insurance Income)
81808187255328
Interest and debt expense(15,376)(11,747)(8,758)(5,306)(3,420)(3,646)
Income from continuing operations before equity method investments, income taxes:7,2733,7234,1987,1637,56912,643
Other undisclosed loss from continuing operations before income taxes(3,617)(4,280)(22,360)(5,245)(6,439)(5,094)
Income (loss) from continuing operations before income taxes:3,656(557)(18,162)1,9181,1307,549
Income tax expense (benefit)(1,117)54(271)(742)(3,327)(2,289)
Income (loss) from continuing operations:2,539(503)(18,433)1,176(2,197)5,260
Income (loss) before gain (loss) on sale of properties:1,176(2,197)5,260
Net income (loss) available to common stockholders, diluted:2,539(503)(18,433)1,176(2,197)5,260

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income (loss):2,539(503)(18,433)1,176(2,197)5,260
Comprehensive income (loss):2,539(503)(18,433)1,176(2,197)5,260
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(1,593)2,7861,211(7,154)(5,142)(7,543)
Comprehensive income (loss), net of tax, attributable to parent:9462,283(17,222)(5,978)(7,339)(2,283)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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