Sterling Bancorp (NASDAQ:SBT), the holding company of Sterling Bank and Trust, F.S.B, Friday announced the receipt of regulatory approval from the Federal Reserve System for the sale of all of the issued and outstanding shares of capital stock of the Bank to EverBank Financial Corp.
In connection with the sale, the company will receive a fixed purchase price of $261 million in cash pursuant to the definitive stock purchase agreement by and among the company, the Bank and EverBank, dated September 15, 2024.
