Sterling Bancorp shares are trading lower after the company announced the sale of Sterling Bank and Trust F.S.B. to EverBank Financial Corp. Also, the company adopted a plan of dissolution and expects to wind down as quickly as possible after the sale.
Portfolio Pulse from Benzinga Newsdesk
Sterling Bancorp shares fell after announcing the sale of Sterling Bank and Trust F.S.B. to EverBank Financial Corp. The company plans to dissolve and wind down operations post-sale.
September 16, 2024 | 7:36 pm
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Sterling Bancorp's stock is trading lower following the announcement of selling Sterling Bank and Trust to EverBank and the company's plan to dissolve.
The announcement of the sale and subsequent dissolution plan is a significant event for Sterling Bancorp, leading to a negative market reaction as investors anticipate the winding down of the company.
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