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Sterling Bank Mergers & Acquisitions

Sterling Bank M&A Summary

Sterling Bank has acquired 5 companies. It has also divested 1 asset.

Sterling Bank’s largest acquisition to date was in 2017, when it acquired Astoria Financial for $2.2B. Sterling Bank has acquired in 2 different US states. The Company’s most targeted sectors include financial services (80%) and business services (20%).

M&A Summary

  • M&A Total Activity6
    • M&A Buy Activity5
    • M&A Sell Activity1
  • Total Sectors Invested 2
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 2

Sterling Bank

Sterling Bancorp

Two Blue Hill Plaza Second Floor,
Pearl River, New York 10965
United States,
(845) 369-8040
www.sterlingbancorp.com

All (6) Buy (5) Sell (1)
Date Target Value
$mlns 		Transaction Type Acquirer Seller SRC
Link
2017-03-07 Astoria Financial Corp. · Financial Services
Lake Success, New York · www.astoriabank.com

Astoria Financial Corporation is the holding company for Astoria Bank. Established in 1888, Astoria Bank is the second largest thrift depository in New York and provides its retail and business customers and local communities it serves with quality financial products and services through 88 convenient banking branch locations, a business banking office in Manhattan, and multiple delivery channels, including its flexible mobile banking app. Astoria Bank commands a significant deposit market share in the attractive Long Island market, which includes Brooklyn, Queens, Nassau, and Suffolk counties with a population exceeding that of 38 individual states. Astoria Bank originates multi-family and commercial real estate loans, primarily on rent controlled and rent stabilized apartment buildings, located in New York City and the surrounding metropolitan area and originates residential mortgage loans through its banking and loan production offices in New York, a broker network in four states, primarily along the East Coast, and correspondent relationships covering 13 states and the District of Columbia.

Advisors: Sandler O'Neill + Partners , Wachtell, Lipton, Rosen & Katz 		2,230 Merger

Sterling Bank
Advisors: Citi , RBC Capital Markets , Squire Patton Boggs

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