STBK Sterling Banks, Inc. featured news, full reports, and detailed charts
Sterling Banks, Inc. (STBK) Wrap Up:
The Company is a bank holding company headquartered in Burlington County, New Jersey, with assets of $410.5 million as of December 31, 2007. Our main office is located in Mount Laurel, New Jersey with ten other Community Banking Centers located in Burlington and Camden Counties, New Jersey. We believe that this geographic area represents a stable and attractive banking market with a diversified and expanding economy. We began operations in December 1990 with the purpose of serving consumers and small to medium-sized businesses in our market area. We have chosen to focus on the higher growth areas of western Burlington County and eastern Camden County. We believe that understanding the character and nature of the local communities that it serves, and having first-hand knowledge of customers and their needs for financial services enable it to compete effectively and efficiently. ... More..."http://secfilings.nasdaq.com/edgar_conv_html%2f2008%2f03%2f31%2f0000950159-08-000577.html#FIS_BUSINESS"www.sterlingnj.com
99 Employees
Sterling Banks, Inc (STBK:NASDAQ)
LAST $1.30 USD
CHANGE TODAY +0.132 11.30%
VOLUME 5.4K
As of 2:11 PM 11/20/09 All times are local (Market data by Reuters is delayed by at least 15 minutes).
Snapshot of Sterling Banks, Inc (STBK)
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OPEN
$1.16
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PREVIOUS CLOSE
$1.17
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DAY HIGH
$1.34
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DAY LOW
$1.15
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52 WEEK HIGH
04/14/09 - $3.39
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52 WEEK LOW
03/4/09 - $0.50
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MARKET CAP
7.6M
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AVERAGE VOLUME 3 mo
3.0K
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DILUTED EPS TTM
$-2.93
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SHARES OUTSTANDING
5.8M
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STBK Does Not Pay Dividends
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P/E TTM
NM
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| K = Thousands M = Millions B = Billions | ||
STBK Top Compensated Officers
Mr. Robert H. King
Chief Executive Officer, President, Director,...
Age: 61
Total Annual Compensation: $214.4K
Mr. R. Scott Horner
Chief Financial Officer, Executive Vice Presi...
Age: 58
Total Annual Compensation: $137.2K
Mr. John Herninko
Executive Vice President, Executive Vice Pres...
Age: 60
Total Annual Compensation: $137.9K
Executives, Board Directors
Compensation as of Fiscal Year 2008.
Key developments for Sterling Banks, Inc (STBK)
Sterling Banks Inc. Reports Un-audited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2009
08/19/2009
Sterling Banks Inc. reported un-audited consolidated earnings results for the second quarter and six months ended June 30, 2009. The company reported a net loss of $946,000, compared to a net loss of $400,000 for the second quarter of 2008. On a basic and diluted per share basis, the net loss for the second quarter of 2009 was $0.16 per share, and the net loss for the second quarter of 2008 was $0.07 per share. The company's net interest income after the provision for loan losses decreased by $536,000, or 19%, compared to the same period in 2008. The company reported loss before taxes of $1.51 million compared to $0.64 million for the same period a year ago. Net interest income for the period was $2,667,000 against $3,213,000 for the same period a year ago. For the six months ended June 30, 2009 and 2008, the net loss was $1,395,000 and $484,000, respectively. On a basic and diluted per share basis, the net loss for the six months ended June 30, 2009 and 2008 was $0.24 and $0.08 per share, respectively. For the six months ended June 30, 2009, the company's net interest income after the provision for loan losses decreased by $1,161,000, or 20%, compared to the same period in 2008. The company reported loss before taxes of $2.23 million compared to $0.76 million for the same period a year ago. Net interest income for the period was $5,162,000 against $6,333,000 for the same period a year ago.
Sterling Banks, Inc announced delayed 10-Q filing
08/13/2009
On 08/13/2009, Sterling Banks, Inc announced that they will be unable to file their next 10-Q by the deadline required by the SEC.
Luis G. Rogers to Retire from the Board of Directors of Sterling Banks, Inc. and Sterling Bank
07/31/2009
On July 28, 2009, Sterling Banks, Inc, the bank holding company for Sterling Bank received notice from Luis G. Rogers of his intention to retire from the Board of Directors of each of the company and the Bank. Mr. Rogers's resignation became effective on July 28, 2009. Mr. Rogers is a member of the company's Loan Committee, Asset/Liability Management and Investment Committee and Community Reinvestment Committee.
STBK Competitors
| Company | Last | Change |
| 1st Colonial Bancorp Inc PA | $4.15 USD | 0.00 |
| CB Financial Corp | $7.75 USD | 0.00 |
| Commercefirst Bancorp Inc | $6.00 USD | 0.00 |
| ES Bancshares Inc | $3.55 USD | 0.00 |
| Regal Bancorp Inc | $16.00 USD | 0.00 |
| Market data is delayed at least 20 minutes. | ||
Industry Analysis
| Valuation | STBK | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | 1.2x |
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| Price/Book | 0.3x |
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| Price/Cash Flow | NM | Not Meaningful |
| TEV/Sales | NM | Not Meaningful |
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STBK |
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STBK transactions
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Target |
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Bankruptcy
July 6, 2009 |
WOW Super Club of Cromwell, CT, LLC |
More Recent News About Sterling Banks, Inc.
More news for STBK
STERLING BANKS, INC. Files SEC form 10-K, Annual Report
Show all filings for STERLING BANKS, INC. | Request a Trial to NEW EDGAR Online Pro Form 10-K for STERLING BANKS, INC. 15-Apr-2009Annual Report Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for tra...Click here to read the whole Article (external link)
STERLING BANKS, INC. Files SEC form 8-K, Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. On July 28, 2009, Sterling Banks, Inc. (the "Company"), the bank holding company for Sterling Bank (the "Bank") and the Bank, entered into a Written Agreement (the "Agreement") with the Federal Reserve Bank of Philadelphia and the New Jersey Department of Banking and Insurance (collectively, the "Regulators"). The Agreement is based on findings of the Regulators identified in an examination of the Bank that commenced on January 5, 2009. Under the terms of the Agreement, the Bank agreed, among other things, to engage, within 30 days of the Agreement, an independent consultant acceptable to the Regulators to assess the Bank's staffing needs and the qualifications and performance of all senior executive officers of the Bank and to prepare a written report. Within 45 days of receipt of such report, the Bank agreed to submit to the Regulators a written management plan addressing the findings of the report. In addition, within 60 days of the Agreement, the Bank will submit to the Regulators written plans to: strengthen board oversight of the management and operation of the Bank; strengthen the Bank's management of commercial real estate; strengthen lending and credit administration, which includes a prohibition on the capitalization of interest; improve the periodic review and grading of the Bank's loan portfolio; improve the Bank's position regarding past due loans, problem loans, adversely classified loans; improve the Bank's internal audit program; maintain sufficient capital at the Bank; improve the Bank's earnings; improve management of the Bank's liquidity position; and correct criticisms detailed in the Regulators' examination report of the Bank's compliance with all federal laws relating to anti-money laundering. The Bank has also agreed to maintain an adequate allowance for loan and lease losses; charge-off or collect assets classified as "loss" in the Regulators' examinat...Click here to read the whole Article (external link)
STERLING BANKS, INC. Files SEC form 8-K, Change in Directors or Principal Officers
Show all filings for STERLING BANKS, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for STERLING BANKS, INC. 31-Jul-2009Change in Directors or Principal Officers Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes ...Click here to read the whole Article (external link)
STERLING BANKS, INC. Files SEC form 10-Q, Quarterly Report
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Forward-Looking Statements The Company may from time to time make written or oral "forward-looking statements", including statements contained in the Company's filings with the Securities and Exchange Commission (including this Quarterly Report on Form 10-Q), in its reports to shareholders and in other communications by the Company, which are made in good faith by the Company pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties, such as statements of the Company's plans, objectives, expectations, estimates and intentions, which are subject to change based on various important factors (some of which are beyond the Company's control). The following factors, among others, could cause the Company's financial performance to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements: the strength of the United States economy in general and the strength of the local economies in which the Company conducts operations; the effects of, and changes in, trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System; the effect that maintaining regulatory capital requirements could have on the growth of the Company; inflation; changes in prevailing short term and long term interest rates; national and global liquidity of the banking system; changes in loan portfolio quality; adequacy of loan loss reserves; changes in the rate of deposit withdrawals; changes in the volume of loan refinancings; the timely development of and acceptance of new products and services of the Company and the perceived overall value of these products and services by users, including the features, pricing and quality compared to competitors' pr...Click here to read the whole Article (external link)
STERLING BANKS, INC. Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements and Exhi
Show all filings for STERLING BANKS, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for STERLING BANKS, INC. 14-May-2009Results of Operations and Financial Condition, Financial Statements and Exhi Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information pro...Click here to read the whole Article (external link)
Sterling Banks logs loss of almost $1M
Sterling Banks Inc. said late Wednesday that it lost $946,000, or 16 cents per share, in the second quarter, compared to a loss of $400,000, or 7 cents per share, in the same period a year ago. Sterling cited loan weakness as a major cause of the loss. The company has lost $1.39 million so far this year and has suffered losses in five of the past six quarters. Sterling lost $449,000, or 8 cents per share, in the first quarter, compared to a loss of $12.9 million, or $2.22 per share, in the fourth quarter. The only positive earnings period of the past six reported quarters was the third-quarter last year, when the bank earned $79,000, or 1 cent per share. Allowance for loan losses was $7 million, compared to $2.97 million in second-quarter 2008. Sterling’s loan portfolio was $301 million. “Our objectives have been to focus on the identification of developing weaknesses among borrowers and the strengthening of loan-loss reserve balances,” Sterling CEO Robert King said. “The economic downturn has now continued over an extended period of time, but we sense that negative conditions are moderating. We welcome a return of a more normalized operating environment and setting.” This month, Mount Laurel, N.J.-based Sterling entered into an agreement with state and federal regulators where it must assess its senior management’s qualifications and its oversight of the bank’s loan portfolio and capital position. Sterling, the holding company for Sterling Bank, said that it had entered into an agreement with the Federal Reserve Bank of Philadelphia and the New Jersey Department of Banking and Insurance based on findings in an examination of the bank that began in January. The enforcement action is a written agreement and not a cease-and-desist order, which is the highest level of action regula...Click here to read the whole Article (external link)
STERLING BANKS, INC. Files SEC form 10-Q, Quarterly Report
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Forward-Looking Statements The Company may from time to time make written or oral "forward-looking statements", including statements contained in the Company's filings with the Securities and Exchange Commission (including this Quarterly Report on Form 10-Q), in its reports to shareholders and in other communications by the Company, which are made in good faith by the Company pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties, such as statements of the Company's plans, objectives, expectations, estimates and intentions, which are subject to change based on various important factors (some of which are beyond the Company's control). The following factors, among others, could cause the Company's financial performance to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements: the strength of the United States economy in general and the strength of the local economies in which the Company conducts operations; the effects of, and changes in, trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System; the effect that maintaining regulatory capital requirements could have on the growth of the Company; inflation; changes in prevailing short term and long term interest rates; national and global liquidity of the banking system; changes in loan portfolio quality; adequacy of loan loss reserves; changes in the rate of deposit withdrawals; changes in the volume of loan refinancings; the timely development of and acceptance of new products and services of the Company and the perceived overall value of these products and services by users, including the features, pricing and quality compared to competitors' pr...Click here to read the whole Article (external link)
STERLING BANKS, INC. Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements and Exhi
Show all filings for STERLING BANKS, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for STERLING BANKS, INC. 20-Aug-2009Results of Operations and Financial Condition, Financial Statements and Exhi Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information pro...Click here to read the whole Article (external link)
Eastern Banks Retain Greater Value Than Other Regions: An Industry Expert Picks Out The Winners
67 WALL STREET, New York - October 14, 2009 - The Wall Street Transcript has just published its Northeast & Mid-Atlantic Regional Banks Report offering a timely review of the sector to serious investors and industry executives. This 121 page feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online. Topics covered: Residential Mortgage Situation -- Regional Banks Mergers and Acquisitions Timing Strategy -- Commercial Mortgage Portfolio Decay -- Timing Of Commercial Mortgage Portfolio Bad Debt Write Offs-- FDIC Hit List For Bank Closings -- Mutual Holding Company Structure -- Interest Rate Scenarios -- Banking Pricing Power -- Expensive Bank Valuations -- Tangible Book As Guide For Bank Stock Pricing -- Distressed Sales Of Community and Regional Banks -- TARP Program -- Attitude Of Institutional Investors Towards Resurgence in Community Banking -- Unique Business Models -- Regional Bank Boards Looking For Exit Companies include: BB and T (BBT); Colonial (CNB); First Niagara (FNFG); PNC (PNC); National City (NCC-PA); Harleysville National (HNBC); Citizens First Bancorp (CTZN); Regions Financial (RF); Bank of America (BAC); SunTrust Banks (STI); Pinnacle Financial (PNFP); Northwest Bancorp Inc. (NWSB); Beneficial (BNCL); Investor Savings Bancorp (ISBC); Territorial Bancorp (TBNK); FNB Bancorp (FNBG.OB); National Penn (NPBC); Trustco Bank (TRST); KeyBank (KEY); M and T Bank (MTB); New York Community Bancorp (NYB); Bank of New York Mellon (BK);...Click here to read the whole Article (external link)
STERLING BANKS, INC. Financials
Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback Quotes delayed, except where indicated otherwise.Delay times are 15 mins for NASDAQ, 20 mins for NYSE and Amex. See also delay times for other exchanges.Fundamental company data provided by Capital IQ. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. Real-...Click here to read the whole Article (external link)
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