Sterling Bancorp Reports First Quarter 2020 Financial Highlights
SOUTHFIELD, Mich.--(BUSINESS WIRE)--Sterling Bancorp, Inc. (NASDAQ: SBT) (the “Company”), the holding company of Sterling Bank and Trust, F.S.B. (the “Bank”), today reported unaudited financial highlights for its first quarter ended March 31, 2020 reflecting the establishment of reserves relating to the Bank’s Advantage Loan Program as well as a significant increase to the allowance for loan losses in light of economic conditions due to COVID-19. Q1 2020 Financial Highlights Net loss of $27.8 m
Sterling Bancorp Reports First Quarter 2020 Financial Highlights
SOUTHFIELD, Mich.--(BUSINESS WIRE)--Sterling Bancorp, Inc. (NASDAQ: SBT) (the “Company”), the holding company of Sterling Bank and Trust, F.S.B. (the “Bank”), today reported unaudited financial highlights for its first quarter ended March 31, 2020 reflecting the establishment of reserves relating to the Bank’s Advantage Loan Program as well as a significant increase to the allowance for loan losses in light of economic conditions due to COVID-19. Q1 2020 Financial Highlights Net loss of $27.8 m