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Sterling Bancorp: 1Q Earnings Snapshot

Sterling Bancorp: 1Q Earnings Snapshot

Associated Press

SOUTHFIELD, Mich. (AP) _ Sterling Bancorp Inc. (SBT) on Monday reported first-quarter profit of $15.7 million.

The bank, based in Southfield, Michigan, said it had earnings of 30 cents per share.

The bank holding company posted revenue of $47 million in the period. Its revenue net of interest expense was $34.1 million, which topped Street forecasts.

Sterling Bancorp shares have climbed 41% since the beginning of the year. In the final minutes of trading on Monday, shares hit $9.81, a fall of 25% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SBT at https://www.zacks.com/ap/SBT