SOUTHFIELD, Mich.--(BUSINESS WIRE)--Sterling Bancorp, Inc. (NASDAQ: SBT) (“Sterling” or the “Company”), the holding company of Sterling Bank and Trust, F.S.B., today announced that it was named as the top performing community bank in the United States with total assets between $1 billion and $10 billion by SNL/S&P Global Market Intelligence, based on its financial results for the year ended December 31, 2017. Sterling was the second best performing community bank in this size category in the previous year’s rankings.
SNL/S&P Global Market Intelligence’s rankings are based on six metrics: pretax return on average tangible common equity, net charge-offs as a percentage of average loans, efficiency ratio, adjusted Texas ratio, net interest margin on a fully taxable equivalent basis and loan growth. More than 530 companies were eligible for the SNL/S&P Global Market Intelligence rankings.
“We are honored to be named the top performing community bank in the United States by SNL/S&P Global Market Intelligence,” said Gary Judd, Sterling’s Chairman and CEO. “Our ranking reflects the highly productive and efficient business model we have built, the strength of the attractive markets that we serve, and the commitment of all our team at Sterling to achieve a superior level of performance. As we continue to grow our franchise, we believe we should remain one of the top performing community banks in the country.”
About Sterling Bancorp, Inc.
Sterling Bancorp, Inc. is a unitary thrift holding company. Its wholly owned subsidiary, Sterling Bank and Trust, F.S.B., has primary branch operations in San Francisco and Los Angeles, California and New York City, and a loan production office in Seattle, Washington. Sterling offers a broad range of loan products to the residential and commercial markets, as well as retail and business banking services. Sterling also has an operations center and a branch in Southfield, Michigan. For additional information, please visit the Company’s website at www.sterlingbank.com.
Readers should note that in addition to the historical information contained herein, this press release includes "forward-looking statements," within the meeting of the federal securities laws including, without limitation, statements concerning plans, estimates, calculations, forecasts and projections with respect to the anticipated future performance of the Company. Readers should note that the forward-looking statements included in this press release are not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "will," "propose," "may," "plan," "seek," "expect," "intend," "estimate," "anticipate," "believe" or "continue," or similar terminology. Any forward-looking statements presented herein are made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.