Sterling Bancorp, Inc. (SBT) financial statements (2022 and earlier)

Company profile

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

Balance sheet (Statement of financial position) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments4131,0118458
Cash and cash equivalents4131,0067954
Short-term investments 554
Total current assets:4131,0118458
Noncurrent Assets
Operating lease, right-of-use asset181919
Property, plant and equipment7999
Deferred income tax assets212412
Total noncurrent assets:4752409
Other undisclosed assets2,4172,8513,1213,130
TOTAL ASSETS:2,8773,9143,2453,197
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt 1111114
Total current liabilities: 1111114
Noncurrent Liabilities
Other undisclosed liabilities2,5333,5832,9012,748
Total liabilities:2,5333,5942,9122,862
Stockholders' equity
Stockholders' equity attributable to parent, including:344320333335
Common stock8281  
Additional paid in capital14141313
Accumulated other comprehensive income (loss)(1)00(0)
Retained earnings248225238211
Other undisclosed stockholders' equity attributable to parent  81111
Total stockholders' equity:344320333335
TOTAL LIABILITIES AND EQUITY:2,8773,9143,2453,197

Income statement (P&L) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues114149169158
Net investment income114147169157
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
 (55) (3)
Gross profit:11494169155
Operating expenses(34)(43)(18)(13)
Operating income:8050152141
Nonoperating income
(Bank Owned Life Insurance Income)
1111
Interest and debt expense(25)(46)(54)(42)
Income from continuing operations before equity method investments, income taxes:56699101
Other undisclosed loss from continuing operations before income taxes(23)(25)(54)(12)
Income (loss) from continuing operations before income taxes:33(19)4589
Income tax expense (benefit)(10)6(16)(25)
Net income (loss) available to common stockholders, diluted:23(13)2963

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):23(13)2963
Comprehensive income (loss):23(13)2963
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(1)000
Comprehensive income (loss), net of tax, attributable to parent:22(13)2964

Statements sources

The financial statements are based on the company's filings with the 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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