Sterling bancorp (STL)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Sep'14Sep'13Sep'12Sep'11Sep'10Sep'09
Interest and dividend income:
Loans and loan fees

1,029,369

1,006,496

570,761

390,847

292,496

202,982

107,810

91,010

89,500

92,542

97,149

Securities taxable

94,823

115,971

65,278

42,540

39,369

30,067

17,509

16,538

14,493

18,208

25,552

Securities non-taxable

55,802

61,062

37,245

23,669

12,076

10,453

5,682

6,497

7,441

7,774

7,520

Other earning assets

22,546

24,944

9,165

4,495

4,200

3,404

1,060

992

1,180

1,250

1,369

Total interest and dividend income

1,202,540

1,208,473

682,449

461,551

348,141

246,906

132,061

115,037

112,614

119,774

131,590

Interest expense:
Deposits

192,361

130,096

56,110

33,189

17,478

8,964

5,923

5,581

6,104

8,517

18,375

Borrowings

91,256

110,974

50,196

24,093

19,447

19,954

13,971

12,992

15,220

17,923

19,345

Total interest expense

283,617

241,070

106,306

57,282

36,925

28,918

19,894

18,573

21,324

26,440

37,720

Net interest income

918,923

967,403

576,143

404,269

311,216

217,988

112,167

96,464

91,290

93,334

93,870

Provisions for loan losses

45,985

46,000

26,000

20,000

15,700

19,100

12,150

10,612

16,584

10,000

17,600

Net interest income after provision for credit losses

872,938

921,403

550,143

384,269

295,516

198,888

100,017

85,852

74,706

83,334

76,270

Non-interest income:
Deposit fees and service charges

26,398

26,830

17,128

15,166

15,871

15,595

10,964

11,377

10,811

11,228

12,393

Accounts receivable management / factoring commissions and other fees

23,837

22,772

17,803

17,695

17,088

13,146

0

0

-

-

-

Total impairment loss

-

-

-

-

-

-

-

-

787

0

-

Loss recognized in other comprehensive income

-

-

-

-

-

-

-

-

509

0

-

Net impairment loss in earnings

-

-

-

-

-

-

-

-

278

0

-

Title insurance fees

-

-

-

-

-

-

-

-

1,224

1,157

1,005

Bank owned life insurance

20,670

15,651

7,816

5,832

5,235

3,080

1,998

2,050

2,049

2,044

2,755

Loan commissions and fees

24,129

16,181

11,637

9,524

4,869

-

-

-

-

-

-

Investment management fees

7,305

7,790

2,928

3,710

2,397

2,209

2,413

3,143

3,080

3,070

2,576

Net gain (loss) on sale of securities

-6,905

-10,788

-344

7,522

4,837

641

7,391

10,452

10,011

8,157

18,076

Gain on termination of pension plan

11,817

0

0

-

-13,384

-4,095

0

-

-

-

-

Gain (loss) on sale of fixed assets

0

11,800

-1

0

-

-

-

-

-

-54

517

Gain on sale of residential mortgage loans

8,313

0

0

-

-

-

-

-

-

-

-

Net gain on sales of loans

-

-

-

-

-

-

-

-

1,027

867

961

Mortgage banking income

-

-

-

-

11,405

8,086

1,979

1,897

-

-

-

Loss on sale of HVIA

-

-

-

-

-

-

-

-

-

0

-

Gain (Loss) on Derivative Instruments, Net, Pretax

-

-

-

-

-

-

-

-

-

-1,106

-

Other

15,301

12,961

7,235

11,538

1,049

4,613

2,947

3,233

2,027

1,838

1,670

Total non-interest income

130,865

103,197

64,202

70,987

62,751

47,370

27,692

32,152

29,951

27,201

39,953

Non-interest expense:
Compensation and benefits

215,766

220,340

150,254

125,916

104,939

90,215

47,833

46,038

43,662

43,589

39,520

Stock-based compensation plans

19,473

12,984

8,111

6,518

4,581

3,703

2,239

1,187

-

-

-

Defined benefit settlement charge / CEO transition

-

-

-

-

-

-

-

-

-

0

-

Restructuring charge (severance / branch relocation)

-

-

-

-

-

-

-

-

-

0

-

Stock-based compensation

-

-

-

-

-

-

-

-

1,162

1,543

2,942

Occupancy and office operations

64,363

68,536

43,649

34,486

32,915

27,726

14,953

14,457

14,508

13,434

12,802

Advertising and promotion

-

-

-

-

-

-

-

-

-

3,252

3,093

Professional fees

-

-

-

-

-

-

-

-

-

4,019

3,090

Information technology

35,580

41,174

19,387

8,866

-

-

-

-

-

2,285

2,284

Amortization of intangible assets

19,181

23,646

13,008

12,416

10,043

9,408

1,296

1,245

1,426

1,849

2,185

FDIC insurance and regulatory assessments

12,660

20,493

11,969

8,240

7,380

6,146

3,010

3,096

2,910

3,675

4,257

Other real estate owned expense, net

622

1,650

3,423

2,051

274

-237

1,562

1,618

1,171

137

207

ATM/debit card expense

-

-

-

-

-

-

-

-

-

1,601

2,115

Business Combination, Acquisition Related Costs

0

0

39,232

265

17,079

9,455

2,772

5,925

255

0

-

Charge for asset write-downs, retention and severance

8,477

4,396

105,110

4,485

29,046

-

-

-

-

-

-

Gain (Loss) on Extinguishment of Debt

46

172

0

-9,729

0

0

-

-

-

-

-

Impairment related to financial centers and real estate consolidation strategy

14,398

8,736

0

-

-

-

-

-

-

-

-

Other

73,363

56,587

39,232

34,930

40,677

57,917

17,376

18,391

25,017

7,786

7,692

Total non-interest expense

463,837

458,370

433,375

247,902

260,318

208,428

91,041

91,957

90,111

83,170

80,187

Income before income tax expense

539,966

566,230

180,970

207,354

97,949

37,830

36,668

26,047

14,546

27,365

36,036

Income tax (benefit) expense

112,925

118,976

87,939

67,382

31,835

10,152

11,414

6,159

2,807

6,873

10,175

Net income

427,041

447,254

93,031

139,972

66,114

27,678

25,254

19,888

11,739

20,492

25,861

Preferred stock dividend

7,933

7,978

2,002

0

0

-

-

-

-

-

-

Net income available to common stockholders

419,108

439,276

91,029

139,972

66,114

-

-

-

-

-

-

Weighted average common shares:
Basic (in shares)

205,679

224,299

157,513

130,607

109,907

80,268

43,734

38,227

37,452

38,161

38,537

Diluted (in shares)

206,131

224,816

158,124

131,234

110,329

80,534

43,783

38,248

37,453

38,185

38,705

Earnings per common share:
Basic (USD per share)

2.04

1.96

0.58

1.07

0.60

0.34

0.58

0.52

0.31

0.54

0.67

Diluted (USD per share)

2.03

1.95

0.58

1.07

0.60

0.34

0.58

0.52

0.31

0.54

0.67