Sterling bancorp (STL)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Jun'10
Interest and dividend income:
Loans and loan fees

235,439

256,377

254,414

258,283

260,295

260,417

257,211

254,253

234,615

234,453

119,898

111,840

104,570

104,652

100,503

96,658

89,034

89,707

87,774

59,744

55,271

56,869

55,793

54,189

50,312

43,288

27,723

26,638

26,378

27,071

24,396

22,312

22,153

22,149

21,995

22,261

22,039

23,205

23,393

Securities taxable

20,629

20,367

21,977

24,632

27,847

30,114

29,765

29,031

27,061

24,742

15,141

13,113

12,282

9,992

9,870

10,662

12,016

12,200

11,114

8,423

7,632

7,413

7,587

8,005

7,573

6,903

4,748

4,189

4,288

4,284

3,909

4,224

4,415

3,990

3,825

3,607

3,531

3,530

4,716

Securities non-taxable

12,997

13,031

13,491

14,423

14,857

15,103

15,244

15,403

15,312

13,294

8,542

7,791

7,618

7,168

6,751

5,871

3,879

3,140

3,169

2,900

2,867

2,865

2,866

2,751

2,674

2,161

1,235

1,500

1,490

1,457

1,543

1,581

1,599

1,774

1,786

1,829

1,901

1,925

2,037

Other earning assets

4,462

5,699

5,327

5,119

6,401

7,562

6,805

6,219

4,358

4,005

2,111

1,519

1,530

1,263

1,037

1,118

1,077

1,177

1,241

880

902

940

863

816

766

359

197

266

264

333

265

228

244

255

211

237

332

400

262

Total interest and dividend income

273,527

295,474

295,209

302,457

309,400

313,196

309,025

304,906

281,346

276,494

145,692

134,263

126,000

123,075

118,161

114,309

106,006

106,224

103,298

71,947

66,672

68,087

67,109

65,761

61,325

52,711

33,903

32,593

32,420

33,145

30,113

28,345

28,411

28,168

27,817

27,934

27,803

29,060

30,408

Interest expense:
Deposits

45,781

49,907

48,330

48,129

45,995

41,452

35,974

28,464

24,206

22,305

13,392

10,905

9,508

9,251

9,201

8,328

6,409

5,729

5,299

3,359

3,091

2,818

2,421

2,319

2,394

1,834

1,051

1,151

1,624

2,097

1,789

1,262

1,217

1,313

1,384

1,493

1,585

1,642

1,849

Borrowings

15,974

17,310

23,558

22,489

27,899

28,876

29,102

30,226

22,770

20,167

12,227

10,100

7,702

6,575

5,830

5,601

6,087

5,074

4,645

5,014

4,714

5,032

5,055

4,991

4,903

5,001

4,744

3,125

2,977

3,125

3,085

3,001

3,289

3,617

3,642

3,637

3,707

4,234

4,361

Total interest expense

61,755

67,217

71,888

70,618

73,894

70,328

65,076

58,690

46,976

42,472

25,619

21,005

17,210

15,826

15,031

13,929

12,496

10,803

9,944

8,373

7,805

7,850

7,476

7,310

7,297

6,835

5,795

4,276

4,601

5,222

4,874

4,263

4,506

4,930

5,026

5,130

5,292

5,876

6,210

Net interest income

211,772

228,257

223,321

231,839

235,506

242,868

243,949

246,216

234,370

234,022

120,073

113,258

108,790

107,249

103,130

100,380

93,510

95,421

93,354

63,574

58,867

60,237

59,633

58,451

54,028

45,876

28,108

28,317

27,819

27,923

25,239

24,082

23,905

23,238

22,791

22,804

22,511

23,184

24,198

Provision for credit losses - loans

136,577

-

-

-

10,200

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for credit losses - held to maturity securities

1,703

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provisions for loan losses

-

-

13,700

11,500

-

10,500

9,500

13,000

13,000

12,000

5,000

4,500

4,500

5,500

5,500

5,000

4,000

5,500

5,000

3,100

2,100

3,000

5,350

5,950

4,800

3,000

2,700

3,900

2,600

2,950

3,500

2,312

2,850

1,950

8,784

3,600

2,100

2,100

2,750

Net interest income after provision for credit losses

73,492

217,672

209,621

220,339

225,306

232,368

234,449

233,216

221,370

222,022

115,073

108,758

104,290

101,749

97,630

95,380

89,510

89,921

88,354

60,474

56,767

57,237

54,283

52,501

49,228

42,876

25,408

24,417

25,219

24,973

21,739

21,770

21,055

21,288

14,007

19,204

20,411

21,084

21,448

Accounts payable factoring commissions and other related fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

mortgage bank income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

746

-

-

-

-

-

-

-

-

-

Non-interest income:
Deposit fees and service charges

6,622

6,506

6,582

7,098

6,212

6,509

6,333

6,985

7,003

-

3,309

-

3,335

3,179

3,407

4,084

4,496

4,160

4,450

3,639

3,622

4,221

3,850

3,897

3,904

3,942

2,835

2,615

2,736

2,778

3,065

2,816

2,706

2,790

2,727

2,674

2,643

2,767

2,796

Accounts receivable management / factoring commissions and other fees

5,538

6,571

6,049

5,794

5,423

6,480

5,595

5,337

5,360

5,133

4,764

4,137

3,769

4,147

4,898

4,156

4,494

4,390

4,761

4,435

3,502

4,134

3,814

3,613

3,500

2,226

-

0

0

-

-

-

-

-

-

-

-

-

-

Total impairment loss

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-6

0

-536

-

-

-

-

-

Loss recognized in other comprehensive income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

498

-

-

-

-

-

Net impairment loss in earnings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6

0

38

-

27

-

-

-

Title insurance fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

275

312

274

363

336

Bank owned life insurance

5,018

4,771

8,066

4,192

3,641

4,061

3,733

4,243

3,614

3,474

1,320

1,652

1,370

1,333

1,891

1,281

1,327

1,792

1,293

1,074

1,076

1,024

791

820

729

740

502

496

491

509

512

518

502

518

514

488

553

494

503

Loan commissions and fees

11,024

8,698

6,285

5,308

3,838

4,067

4,142

4,566

3,406

2,995

2,819

2,836

2,987

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investment management fees

1,847

1,597

1,758

2,050

1,900

1,901

1,943

2,121

1,825

2,103

271

323

231

566

1,086

934

1,124

877

844

316

360

403

446

681

542

540

673

613

422

705

776

802

800

765

733

815

789

743

756

Net gain (loss) on sale of securities

8,412

-75

6,882

-528

-13,184

-4,886

-56

-425

-5,421

-70

-21

-230

-23

-102

3,433

4,474

-283

-120

2,726

697

1,534

-43

33

1,193

60

-645

1,801

1,945

2,229

1,416

3,152

2,412

2,899

1,989

4,519

542

748

4,202

945

Net gain on called securities

4,880

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on termination of pension plan

-

-

12,097

-

-

-

0

-

-

-

-

-

-

-

-

-

-

0

-13,384

0

0

0

0

-

-

-2,743

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain (loss) on sale of fixed assets

-

-

0

0

-

-

0

11,797

-

-

1

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of residential mortgage loans

0

0

0

0

8,313

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net gain on sales of loans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

578

450

440

166

9

310

542

45

Mortgage banking income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,153

2,367

2,002

2,762

2,956

2,530

3,157

2,858

2,160

1,927

2,383

1,616

-

429

507

-

-

-

-

-

-

-

-

-

-

Gain (Loss) on Derivative Instruments, Net, Pretax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-259

-2

234

-

Fair value (loss) gain on interest rate cap

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-595

Other

3,985

4,592

4,111

3,144

3,454

4,342

2,455

3,244

2,920

2,892

1,525

1,651

1,167

2,951

3,171

3,146

2,270

-2,648

1,772

1,166

759

1,360

1,192

1,340

1,297

729

492

483

467

1,505

1,048

859

614

712

346

663

480

538

495

Total non-interest income

47,326

32,380

51,830

27,058

19,597

22,477

24,145

37,868

18,707

23,760

13,988

13,618

12,836

16,076

19,039

20,442

15,430

16,082

18,802

13,857

14,010

13,957

12,286

13,471

12,415

9,148

6,600

6,581

6,852

7,659

9,026

7,979

7,971

7,176

9,056

5,217

5,795

9,883

5,281

Non-interest expense:
Compensation and benefits

54,876

52,453

52,850

54,473

55,990

54,678

54,823

56,159

54,680

55,946

31,727

31,394

31,187

32,059

32,501

31,336

30,020

29,869

29,238

22,667

23,165

22,410

22,110

23,381

25,263

20,811

12,409

11,320

11,805

12,299

12,873

10,845

11,395

10,925

10,129

11,122

11,183

11,228

11,061

Stock-based compensation plans

6,006

5,180

4,565

4,605

5,123

3,679

3,115

3,336

2,854

2,509

1,969

1,897

1,736

1,558

1,673

1,747

1,540

1,280

1,064

1,128

1,109

1,146

1,006

780

927

991

-

-

-

-

-

-

-

-

-

-

-

-

-

Defined benefit settlement charge / CEO transition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,494

-

-

-

Retirement benefit settlement charge

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

278

-

-

Stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

547

679

500

-

326

284

275

303

284

296

279

172

Occupancy and office operations

15,199

15,886

15,836

16,106

16,535

16,579

16,558

17,939

17,460

18,099

8,583

8,833

8,134

8,373

8,021

8,810

9,282

9,306

9,576

7,453

6,580

7,245

7,148

6,992

7,254

6,333

3,766

3,423

3,954

3,810

3,959

3,388

3,409

3,701

3,693

3,423

3,757

3,635

3,168

Advertising and promotion

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

440

427

613

-

855

843

953

1,041

Professional fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,128

1,056

927

-

1,137

1,043

1,062

1,063

Information technology

8,018

9,313

8,545

9,047

8,675

8,760

10,699

9,997

11,718

11,985

2,512

2,421

2,469

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

705

710

672

-

712

691

642

571

Amortization of intangible assets

4,200

4,785

4,785

4,785

4,826

5,864

5,865

5,865

6,052

6,426

2,166

2,187

2,229

2,881

3,241

3,241

3,053

3,433

3,431

1,780

1,399

1,873

2,511

2,511

2,511

1,875

310

337

388

261

-

-

-

-

338

305

371

412

452

FDIC insurance and regulatory assessments

3,206

3,134

3,194

2,994

3,338

3,608

6,043

5,495

5,347

5,737

2,310

2,034

1,888

1,531

2,151

2,300

2,258

2,287

2,281

1,384

1,428

1,568

1,619

1,795

1,567

1,164

664

875

753

718

-

-

-

-

636

587

919

768

927

Other real estate owned expense, net

52

-132

79

458

217

15

1,497

-226

364

741

894

112

1,676

207

721

541

582

88

183

40

-37

-81

214

-881

61

368

390

-28

915

285

573

428

412

205

677

461

117

-84

69

ATM/debit card expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

400

366

393

164

Business Combination, Acquisition Related Costs

-

-

-

-

-

-

-

-

-

30,230

4,109

1,766

3,127

0

0

0

265

-1

0

14,625

2,455

502

0

0

388

9,068

714

1,516

542

0

-

451

299

-

-

0

-

-

-

Charge for asset write-downs, retention and severance

0

5,133

0

0

3,344

-8,736

0

13,132

0

-

0

603

-

0

2,000

0

2,485

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain (Loss) on Extinguishment of Debt

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-1,013

0

-8,716

-

0

-

-

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairment related to financial centers and real estate consolidation strategy

-

-

0

14,398

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Business Combination, Integration Related Costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

Charge for asset write downs, retention, and severance compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

Other

23,156

19,744

16,601

20,074

16,944

16,909

13,173

13,231

13,274

14,571

8,347

8,410

7,904

1,600

10,935

11,665

10,730

-17,885

12,158

36,582

9,822

11,151

9,172

10,326

8,752

29,621

4,601

3,799

4,303

4,673

8,239

3,451

3,298

3,403

19,220

1,889

1,927

1,981

2,053

Total non-interest expense

114,713

115,450

106,455

126,940

114,992

109,920

111,773

124,928

111,749

250,751

62,617

59,657

60,350

57,075

62,256

59,640

68,931

57,423

71,315

85,659

45,921

45,814

43,780

44,904

46,723

72,974

23,367

21,789

23,339

22,546

28,784

21,162

21,290

20,721

24,382

22,669

21,791

21,269

20,741

Income before income tax expense

6,105

134,602

154,996

120,457

129,911

144,925

146,821

146,156

128,328

-4,969

66,444

62,719

56,776

60,750

54,413

56,182

36,009

48,580

35,841

-11,328

24,856

25,380

22,789

21,068

14,920

-20,950

8,641

9,209

8,732

10,086

1,981

8,587

7,736

7,743

-1,319

1,752

4,415

9,698

5,988

Income tax (benefit) expense

-8,042

27,905

32,549

23,997

28,474

30,434

27,171

31,915

29,456

28,319

21,592

20,319

17,709

19,736

16,991

18,412

12,243

15,791

11,648

-3,682

8,078

8,376

6,452

6,057

4,588

-6,948

3,312

2,833

2,203

3,066

-280

2,378

2,035

2,026

-826

-187

842

2,978

1,232

Net income

14,147

106,697

122,447

96,460

101,437

114,491

119,650

114,241

98,872

-33,288

44,852

42,400

39,067

41,014

37,422

37,770

23,766

32,789

24,193

-7,646

16,778

17,004

16,337

15,011

10,332

-14,002

5,329

6,376

6,529

7,020

2,261

6,209

5,701

5,717

-493

1,939

3,573

6,720

4,756

Preferred stock dividend

1,976

1,975

1,982

1,987

1,989

1,990

1,993

1,996

1,999

2,002

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income available to common stockholders

12,171

104,722

120,465

94,473

99,448

112,501

117,657

112,245

96,873

-35,290

44,852

42,400

39,067

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Weighted average common shares:
Basic (in shares)

196,344

199,539

203,090

206,932

213,157

222,294

225,088

225,084

224,730

224,226

135,346

135,317

135,163

132,137

130,239

130,081

129,974

131,052

129,172

91,565

87,839

83,831

83,105

83,066

83,497

70,493

43,754

43,801

43,743

43,637

41,074

37,302

37,280

37,252

37,393

37,368

37,496

37,552

38,086

Diluted (in shares)

196,709

200,077

203,566

207,376

213,505

222,759

225,622

225,621

225,264

224,812

135,950

135,922

135,811

132,872

130,875

130,688

130,500

131,482

129,631

91,950

88,252

84,194

83,378

83,293

83,794

70,493

43,656

43,906

43,848

43,721

41,092

37,330

37,316

37,252

37,394

37,370

37,497

37,552

38,086

Earnings per common share:
Basic (USD per share)

0.06

0.52

0.59

0.46

0.47

0.51

0.52

0.50

0.43

-0.35

0.33

0.31

0.29

0.31

0.29

0.29

0.18

0.30

0.19

-0.08

0.19

0.20

0.20

0.18

0.12

-0.20

0.12

0.15

0.15

0.16

0.05

0.17

0.15

0.15

-0.02

0.05

0.10

0.18

0.12

Diluted (USD per share)

0.06

0.51

0.59

0.46

0.47

0.50

0.52

0.50

0.43

-0.35

0.33

0.31

0.29

0.31

0.29

0.29

0.18

0.30

0.19

-0.08

0.19

0.20

0.19

0.18

0.12

-0.20

0.12

0.15

0.15

0.16

0.05

0.17

0.15

0.15

-0.02

0.05

0.10

0.18

0.12