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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 sells bank shares to EverBank effective April 1, 2025.

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$4.8404/01 10:55 PM EDTLatest Updated
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FAQ

Why Bullish?

The acquisition by EverBank suggests growth and consolidation in the banking sector, which historically boosts stock prices. Similar past sales in the banking industry often lead to favorable investor sentiment and increased valuations.

How important is it?

The sale is a major corporate development that directly affects SBT's structure and future operations, making it highly important. Such corporate changes typically signal investor shifts in confidence and market repositioning.

Why Long Term?

This sale impacts SBT's future operational strategy and market position post-acquisition, influencing long-term stock performance. Historical trends indicate that strategic sales can take time to reflect in stock price adjustments.

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EVERPNCWFC
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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