Sterling Bank - M&A Summary and Business Overview

Financial ServicesCompany

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%).

Sterling Bank Business Overview

Where is Sterling Bank headquartered?

Sterling Bank is headquartered in Pearl River, New York.

What is Sterling Bank’s revenue?

Sterling Bank disclosed revenue of 990M USD for 2020 and 1,032M USD for 2019.

How many employees does Sterling Bank have?

Sterling Bank has 1,457 employees.

What sector is Sterling Bank in?

Sterling Bank is a financial services company.

When was Sterling Bank founded?

Sterling Bank was founded in 1888.

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
  • M&A Advisors 8

Sterling Bank

Sterling Bancorp

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

Sterling Bank is a financial services firm that specializes in the delivery of service and solutions to business owners, their families, and consumers in communities within the greater New York City area through teams of dedicated and experienced relationship managers. Sterling Bank was founded in 1888 and is based in Pearl River, New York.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.0/yr) # 5 - - - - - 5
vol $3.2B $3.2B
Sell (0.0/yr) # 1 - - - - - 1
  6

Most Recent M&A

Company Date Value Type
Astoria Financial Corp. 2017-03-07 2.2B USD Merger
Lake Success, New York · www.astoriabank.com
First Capital Holdings Inc. - Factoring Portfolio 2015-05-08 - Divestiture
, United States
Hudson Valley Holding Corp. 2014-11-05 539M USD Merger
Yonkers, New York · www.hudsonvalleybank.com
Sterling National Bank 2013-04-04 344M USD Merger
Montebello, New York · www.snb.com
Hudson Valley Investment Advisors, Inc. 2012-10-10 - Divestiture
Goshen, New York · www.hviaonline.com
Gotham Bank of New York 2012-01-18 41M USD Add-on Acquisition
New York, New York · www.gothambankny.com
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Sterling National Bank    - Colortree Group, Inc. 2017-01-17 1
Montebello, New York · www.snb.com Richmond, Virginia · www.colortreeva.com

M&A by Sector

Sector Buy # Value Sell # Value
Financial Services 4 (80%) 3.2B (100%) 1 (100%) -
Business Services 1 (20%) - - -
Total 5 $3.2B 1 -

By Geo

State/Country Buy Value Sell Value
United States 5 3.2B 1 -
  New York 4 3.2B 1 -
Total 5 $3.2B 1 -

Top M&A Advisors

Financial Deals
BofA Securities
 1
Credit Suisse Investment Banking
 1
Citigroup Investment Banking
 1
Legal Deals
Wachtell, Lipton, Rosen & Katz
 2
Davis Polk & Wardwell
 1
Arnold & Porter LLP
 1

Deal Values

buy # Total
> $1B 1 $2.2B
$100M to $1B 2 $883M
< $100M 1 $41M
TOTAL $3.2B
Largest Astoria Financial Corp.
$2.2B (2017-03-07)

M&A Connections

Deals
Acquired from
Strategic(s)
20%
1 (20%)
Divested to
Strategic(s)
100%
1 (100%)

Company Summary

SECTOR

Financial Services

Revenue

990   5% 2020
1,032   3% 2019
1,059   66% 2018
640   35% 2017
475   2016
(millions of USD) Show More Show Less

Employees

1,457

Established

1888

Public

NYSE: STL

Former Name

Provident New York Bancorp

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