Sterling Bancorp (STL) Financial Statements (2024 and earlier)

Company Profile

Business Address TWO BLUE HILL PLAZA
PEARL RIVER, NY 10965
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 6021 - National Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

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

9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments487,409935,633305,002437,558324,729348,636
Cash and cash equivalents487,409935,633305,002437,558324,729348,636
Total current assets:487,409935,633305,002437,558324,729348,636
Noncurrent Assets
Operating lease, right-of-use asset100,145101,495105,667100,635102,379107,711
Property, plant and equipment204,632199,782202,555217,481226,728228,526
Intangible assets, net (including goodwill)1,769,4941,773,2701,777,0461,781,2461,785,4461,789,646
Goodwill1,683,4821,683,4821,683,4821,683,4821,683,4821,683,482
Intangible assets, net (excluding goodwill)86,01289,78893,56497,764101,964106,164
Amortization method qualified affordable housing project investments492,298484,885488,303461,658399,336402,317
Total noncurrent assets:2,566,5692,559,4322,573,5712,561,0202,513,8892,528,200
Other undisclosed assets26,089,94026,419,21726,941,56527,619,14428,001,27527,458,200
TOTAL ASSETS:29,143,91829,914,28229,820,13830,617,72230,839,89330,335,036
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt25,80231,67927,10135,22326,44827,562
Total current liabilities:25,80231,67927,10135,22326,44827,562
Noncurrent Liabilities
Liabilities, other than long-term debt259,405276,974283,849264,719228,972242,598
Qualified affordable housing project investments, commitment259,405276,974283,849264,719228,972242,598
Total noncurrent liabilities:259,405276,974283,849264,719228,972242,598
Other undisclosed liabilities24,135,85524,985,46524,918,67425,759,99526,100,28625,642,452
Total liabilities:24,421,06225,294,11825,229,62426,059,93726,355,70625,912,612
Equity
Equity, attributable to parent4,722,8564,620,1644,590,5144,557,7854,484,1874,422,424
Preferred stock136,224136,458136,689136,917137,142137,363
Common stock2,2992,2992,2992,2992,2992,299
Treasury stock, value(696,711)(699,415)(686,911)(660,312)(660,223)(660,069)
Additional paid in capital3,753,0683,745,8903,761,9933,761,2163,755,4743,749,508
Accumulated other comprehensive income68,89957,59184,81687,86688,61067,621
Retained earnings1,459,0771,377,3411,291,6281,229,7991,160,8851,125,702
Total equity:4,722,8564,620,1644,590,5144,557,7854,484,1874,422,424
TOTAL LIABILITIES AND EQUITY:29,143,91829,914,28229,820,13830,617,72230,839,89330,335,036

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

9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
Revenues28,62528,71128,08831,649253,226273,527
Net investment income28,62527,99228,08831,649253,226273,527
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
 (6,000)(10,000)(27,500)(31,000)(56,606)(138,280)
Gross profit:22,62518,711588649196,620135,247
Operating expenses(38,711)(38,382)(53,135)(36,402)(34,125)(36,779)
Operating income (loss):(16,086)(19,671)(52,547)(35,753)162,49598,468
Nonoperating income
(Bank Owned Life Insurance Income)
4,9814,9554,9615,3634,9505,018
Interest and debt expense(13,026)(15,933)(40,046)(33,075)(39,927)(61,755)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes 146,993152,754182,606160,152(69,616)(35,626)
Income (loss) from continuing operations before equity method investments, income taxes:122,862122,10594,97496,68757,9026,105
Other undisclosed income from continuing operations before income taxes      
Income from continuing operations before income taxes:122,862122,10594,97496,68757,9026,105
Income tax expense (benefit)(24,523)(22,955)(18,551)(12,280)(7,110)8,042
Income from continuing operations:98,33999,15076,42384,40750,79214,147
Income before gain (loss) on sale of properties:98,33999,15076,42384,40750,79214,147
Net income attributable to parent:98,33999,15076,42384,40750,79214,147
Preferred stock dividends and other adjustments(1,959)(1,963)(1,966)(1,969)(1,972)(1,976)
Net income available to common stockholders, diluted:96,38097,18774,45782,43848,82012,171

Comprehensive Income ($ in thousands)

9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
Net income:98,33999,15076,42384,40750,79214,147
Other comprehensive income (loss)504(3,025)(3,050)(744)20,98927,405
Comprehensive income:98,84396,12573,37383,66371,78141,552
Other undisclosed comprehensive income (loss), net of tax, attributable to parent10,804(24,200)    
Comprehensive income, net of tax, attributable to parent:109,64771,92573,37383,66371,78141,552

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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