Why Is Sterling Bancorp Stock Diving On Monday?
Why Is Sterling Bancorp Stock Diving On Monday?
The deal is subject to regulatory and shareholder approval and is expected to close in the first quarter of 2025.Sterling Bancorp, Inc. (NASDAQ:SBT) shares are trading lower after the company disclosed a definitive deal to sell Sterling Bank to EverBank Financial Corp. for $261 million in cash.
Sterling Bancorp, Inc. (納斯達克:SBT)股票價格下跌，因公司透露了與EverBank Financial Corp.達成的明確出售Sterling Bank的交易，交易價格爲26100萬美元現金。
Also, the company adopted a plan of dissolution and expects to wind down as quickly as possible after the sale.
此外，公司已採納解散計劃，並期望在銷售後儘快進行清算。
Trustees representing 38% of Sterling's common stock have agreed to vote in favor of the sale.
代表Sterling普通股38%的受託人已同意投票贊成該交易。
The deal is subject to regulatory and shareholder approval and is expected to close in the first quarter of 2025.
該交易需經監管機構和股東批准，並預計於2025年第一季度結束。
As part of the sale to EverBank, Sterling Bank will sell all its residential tenant-in-common mortgage loans to Bayview Acquisitions LLC before the closing.
作爲出售給EverBank的一部分，Sterling Bank將在交易完成前將其所有住宅承租人共同抵押貸款出售給Bayview Acquisitions LLC。
After the sale, Sterling Bank will merge into EverBank, with all branches (except the Michigan branch, which will close) operating as EverBank locations. Depositors will retain FDIC coverage, and loan customers will be transitioned to EverBank's platform.
銷售完成後，Sterling Bank將與EverBank合併，所有分行（除密歇根分行外，將關閉）將作爲EverBank的門店運營。存款人將保留FDIC覆蓋，貸款客戶將過渡到EverBank的平台。
Following the sale, Sterling plans to voluntarily delist its common stock from Nasdaq and deregister to end its reporting obligations under the Securities Exchange Act.
在出售後，Sterling計劃自願從納斯達克退市，並註銷終止其根據證券交易法的報告義務。
As of June 30, 2024, cash and due from banks stood at $599.8 million.
截至2024年6月30日，現金及來自銀行的到期款項爲59980萬美元。
Price Action: SBT shares are down 19.8% at $4.61 at the last check Monday.
價格走勢：SBT股票在上週一最後一次覈查時下跌19.8%，至4.61美元。
Photo via Shutterstock
圖片來自shutterstock。
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