Sterling Bancorp operates as the holding company for Sterling National Bank that provides banking and financial products and services to commercial, industrial, financial companies, government, and nonprofit entities in the United States. It primarily engages in generating deposits and originating loans. The company’s deposit products include checking accounts, money market accounts, NOW accounts, savings accounts, rent security accounts, retirement accounts, and certificates of deposit. Its lending activities comprise business and consumer lending, asset-based financing, factoring/accounts receivable management services, equipment leasing, and commercial and residential mortgage lending and brokerage. The company also provides international trade financing, trust and estate administration, investment management, and investment services, as well as depository and related financial services. As of December 31, 2007, it operated 12 offices in New York, 9 in New York City, 2 branches in Nassau County, 1 in Great Neck and in Woodbury, New York, and 1 branch in Yonkers, New York. The company was founded in 1929 and is based in New York, New York.
In January the company began participating in the Treasury Department’s Capital Purchase Program. Under the program the company received $42 million from Treasury in exchange for preferred stock.
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Federal Equity Investment
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Total Revenue
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$157.2 million (2007)
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Net Income
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$14.6 million(2007)
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Number of Employees
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562
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Corporate Headquarters
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New York, New York
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Business Sector
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Bank
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Officers and Directors
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Corporate Website
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Executive Compensation
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No federal contracts located.
No lobbying reports located.
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