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Sterling Bancorp Announces Closing of Acquisition of Sterling Bank and Trust, F.S.B. by EverBank Financial Corp; Certificate of Dissolution to be Filed and Common Stock to be Delisted

1. Sterling Bancorp announces the sale of its bank to EverBank. 2. The sale will be effective on April 1, 2025.

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FAQ

Why Bullish?

The acquisition by EverBank may enhance SBT's market position, drawing parallels with previous successful bank mergers that often boost investor confidence and stock price.

How important is it?

The sale marks a significant corporate change, impacting investor sentiment and stock valuation through future growth potential and operational synergies.

Why Long Term?

The transaction's effects won't manifest until 2025, potentially leading to strategic benefits and market repositioning thereafter.

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EVBKZIONUSB
SOUTHFIELD, Mich.--(BUSINESS WIRE)--Sterling Bancorp, Inc. (NASDAQ: SBT) (“Sterling” or the “Company”), the holding company of Sterling Bank and Trust, F.S.B. (the “Bank”), today announced the closing of the previously announced sale of all of the issued and outstanding shares of capital stock of the Bank to EverBank Financial Corp, a Delaware corporation (“EverBank”), which will become effective as of 12:01 a.m. (Eastern Time) on April 1, 2025. In connection with the closing of the sale, the C.

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