Sterling Bancorp Announces Redemption of Sterling National Bank Subordinated Notes due April 1, 2026

Company Release - 4/1/2021

PEARL RIVER, N.Y., April 01, 2021 (GLOBE NEWSWIRE) -- Sterling Bancorp (NYSE: STL) (the “Company”), the parent company of Sterling National Bank (the “Bank”), today announced the Bank completed the redemption of all of its outstanding 5.25% Fixed-to-Floating Callable Subordinated Notes due April 1, 2026 (CUSIP 859428AT1) (the “Notes”). The notes have an aggregate principal amount of $145.0 million.

The notes were redeemed on April 1, 2021 (the “Redemption Date”), pursuant to their terms and conditions for an amount equal to 100% of the principal amount of the Notes, plus accrued and unpaid interest thereon to, but not including the Redemption Date.

About Sterling Bancorporation

Sterling Bancorp, whose principal subsidiary is Sterling National Bank, specializes in the delivery of service and solutions to business owners, their families and consumers within the communities we serve through teams of dedicated and experienced relationship managers. Sterling National Bank offers a complete line of commercial, business, and consumer banking products and services. For more information, visit the Sterling Bancorp website at www.sterlingbancorp.com.

STERLING BANCORP CONTACT:
Emlen Harmon, Senior Managing Director Investor Relations
212.309.7646

Sterling Bancorp
Two Blue Hill Plaza, Second Floor
Pearl River, NY 10965
T 845.369.8040
F 845.369.8255
http://www.sterlingbancorp.com

 


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Source: Sterling Bancorp