Sterling Bancorp, Inc. (Southfield, MI) (SBT): Business Model Canvas

Tauchen Sie ein in die strategische Blaupause von Sterling Bancorp, Inc., einem dynamischen Finanzinstitut mit Sitz im Herzen von Southfield, Michigan, das das regionale Bankwesen durch ein sorgfältig ausgearbeitetes Geschäftsmodell neu definiert. Dieser innovative Ansatz vereint personalisierte Finanzdienstleistungen, modernste digitale Technologie und ein starkes Engagement für lokale Geschäftsökosysteme und positioniert SBT als zentralen Akteur in Michigans wettbewerbsintensiver Bankenlandschaft. Von maßgeschneiderten Kreditlösungen bis hin zu gemeinschaftsorientierten Strategien offenbart das Business Model Canvas von Sterling Bancorp ein ausgefeiltes Rahmenwerk, das darauf ausgelegt ist, kleinen Unternehmen, Immobilieninvestoren und Einzelkunden gleichermaßen einen außergewöhnlichen Mehrwert zu bieten.

Sterling Bancorp, Inc. (Southfield, MI) (SBT) – Geschäftsmodell: Wichtige Partnerschaften

Lokale und regionale Wirtschaftsverbände in Michigan

Sterling Bancorp unterhält strategische Partnerschaften mit den folgenden Wirtschaftsverbänden in Michigan:

Vereinsname	Einzelheiten zur Partnerschaft	Gründungsjahr
Michigan Bankers Association	Aktives Mitglied seit 2012	2012
Regionalkammer Detroit	Business-Networking-Partnerschaft	2015

Gewerbeimmobilienentwickler

Zu den wichtigsten Partnerschaften bei der Entwicklung von Gewerbeimmobilien gehören:

Entwickler	Gesamtkreditportfolio	Partnerschaftsjahr
Southfield-Entwicklungsgruppe	42,3 Millionen US-Dollar	2018
Metro Detroit Properties LLC	35,7 Millionen US-Dollar	2019

Kleine bis mittlere Unternehmensnetzwerke

Unternehmensnetzwerkpartnerschaften:

• Michigan Small Business Development Center
• Unternehmernetzwerk aus Südost-Michigan
• Oakland County Business Center

Anbieter von Finanztechnologiedienstleistungen (FinTech).

FinTech-Partnerschaften und -Integration:

FinTech-Anbieter	Servicetyp	Integrationsjahr
Fiserv	Kernbankenplattform	2017
Jack Henry & Mitarbeiter	Digitale Banking-Lösungen	2019

Hypotheken- und Kreditvermittler

Statistik der Kreditpartnerschaften:

Vermittler	Gesamtkreditvolumen	Dauer der Partnerschaft
Kredite beschleunigen	127,6 Millionen US-Dollar	2016-heute
Flagstar Bank	93,4 Millionen US-Dollar	2017-heute

Sterling Bancorp, Inc. (Southfield, MI) (SBT) – Geschäftsmodell: Hauptaktivitäten

Geschäfts- und Privatkundendienstleistungen

Gesamtportfolio an gewerblichen Krediten: 1,62 Milliarden US-Dollar (4. Quartal 2023)

Kreditkategorie	Gesamtvolumen
Gewerbeimmobilien	872 Millionen US-Dollar
Kommerziell & Industriekredite	748 Millionen US-Dollar

Kredite für kleine Unternehmen

Kreditvergabe an Kleinunternehmen: 214 Millionen US-Dollar im Jahr 2023

• Durchschnittliche Kredithöhe für Kleinunternehmen: 156.000 $
• Kreditgenehmigungsquote: 62,3 %
• Anzahl Kleinunternehmerkunden: 4.327

Verwaltung von Einlagen- und Anlagekonten

Gesamteinlagen: 2,37 Milliarden US-Dollar (4. Quartal 2023)

Einzahlungsart	Gesamtvolumen
Girokonten	876 Millionen US-Dollar
Sparkonten	643 Millionen US-Dollar
Geldmarktkonten	512 Millionen Dollar
Einlagenzertifikate	339 Millionen US-Dollar

Entwicklung einer digitalen Banking-Plattform

Digital-Banking-Nutzer: 78.500

• Downloads von Mobile-Banking-Apps: 42.300
• Online-Banking-Transaktionen pro Monat: 1,2 Millionen
• Investitionen in digitales Banking: 4,7 Millionen US-Dollar im Jahr 2023

Risikomanagement und Finanzberatung

Risikomanagementbudget: 6,2 Millionen US-Dollar im Jahr 2023

Kategorie „Risikomanagement“.	Zuordnung
Kreditrisikomanagement	2,8 Millionen US-Dollar
Compliance-Risikomanagement	1,9 Millionen US-Dollar
Operationelles Risikomanagement	1,5 Millionen Dollar

Sterling Bancorp, Inc. (Southfield, MI) (SBT) – Geschäftsmodell: Schlüsselressourcen

Starke regionale Bankeninfrastruktur in Michigan

Gesamtvermögen im dritten Quartal 2023: 3,51 Milliarden US-Dollar

Infrastrukturmetrik	Wert
Gesamtzahl der Bankfilialen	32 Standorte
Geografische Abdeckung	Südost-Michigan
Gesamtzahl der Mitarbeiter	441 Vollzeitmitarbeiter

Erfahrenes Finanzmanagement-Team

Zusammensetzung der obersten Führungsebene:

• Durchschnittliche Führungszugehörigkeit: 18 Jahre im Bankwesen
• Gesamtvergütung der Führungskräfte im Jahr 2022: 4,2 Millionen US-Dollar
• CEO Gary Torgow – über 30 Jahre Bankerfahrung

Digitale Banking-Technologiesysteme

Technologieinvestitionen	Betrag
Jährliche IT-Ausgaben	7,3 Millionen US-Dollar
Mobile-Banking-Benutzer	48.000 aktive Benutzer
Online-Banking-Plattform	Cloudbasiertes System

Kundeneinlagenbasis

Gesamteinlagen im dritten Quartal 2023: 3,01 Milliarden US-Dollar

• Girokonten: 879 Millionen US-Dollar
• Sparkonten: 612 Millionen US-Dollar
• Geldmarktkonten: 438 Millionen US-Dollar

Physisches Filialnetz

Standort der Filiale	Anzahl der Filialen
Southfield	8 Filialen
Großraum Detroit	24 Filialen
Durchschnittliche Zweiggröße	3.200 Quadratfuß.

Sterling Bancorp, Inc. (Southfield, MI) (SBT) – Geschäftsmodell: Wertversprechen

Personalisierte Banklösungen für lokale Unternehmen

Ab dem vierten Quartal 2023 bot Sterling Bancorp spezialisierte Geschäftsbankdienstleistungen mit einem gesamten Geschäftskreditportfolio von 1,47 Milliarden US-Dollar an. Die Bank stellte gezielte Finanzlösungen für kleine und mittlere Unternehmen (KMU) in Michigan bereit.

Geschäftssegment	Wert des Kreditportfolios	Durchschnittliche Kredithöhe
Gewerbeimmobilien	892 Millionen US-Dollar	3,2 Millionen US-Dollar
Betriebskapital des Unternehmens	578 Millionen US-Dollar	$425,000

Wettbewerbsfähige Zinssätze für Kredite und Einlagen

Sterling Bancorp hielt bei allen Produktangeboten wettbewerbsfähige Zinssätze aufrecht:

• Zinssätze für Geschäftskredite: 5,75 % – 8,25 %
• Gewerbehypothekenzinsen: 6,25 % – 7,50 %
• Zinssätze für Geschäftssparkonten: 2,35 % – 3,15 %
• Tarife für Geschäftsgirokonten: 1,25 % – 2,00 %

Reaktionsschnelle und flexible Finanzdienstleistungen

Die Bank bearbeitete monatlich durchschnittlich 672 Geschäftskreditanträge mit einer Genehmigungsquote von 78 %. Die typische Kreditbearbeitungszeit betrug 5-7 Werktage.

Community-orientierter Banking-Ansatz

Sterling Bancorp beibehalten 97 % seiner Kreditaktivitäten erfolgen in Michigan, mit einem konzentrierten Fokus auf die Märkte im Südosten von Michigan.

Geografische Verteilung der Kredite	Prozentsatz
Wayne County	42%
Oakland County	35%
Macomb County	20%

Schnelle und effiziente Kreditbearbeitung

Sterling Bancorp demonstrierte eine effiziente Kreditbearbeitung anhand der folgenden Kennzahlen:

• Durchschnittliche Kreditgenehmigungszeit: 4,8 Tage
• Abschlussrate digitaler Bewerbungen: 62 %
• Online-Banking-Nutzung: 73 % der Geschäftskunden

Sterling Bancorp, Inc. (Southfield, MI) (SBT) – Geschäftsmodell: Kundenbeziehungen

Direkte persönliche Banking-Interaktionen

Ab 2024 unterhält Sterling Bancorp 15 physische Filialen in ganz Michigan. Zu den Kennzahlen zur Kundeninteraktion gehören:

Interaktionstyp	Durchschnittliche monatliche Häufigkeit
Besuche in der Filiale	3.750 Kunden
Persönliche Bankberatung	1.275 Interaktionen

Online- und Mobile-Banking-Plattformen

Statistiken zum Engagement im digitalen Banking:

• Mobile-Banking-Nutzer: 42.500
• Aktive Online-Banking-Konten: 68.300
• Monatlich aktive Nutzer der mobilen App: 35.750

Engagierte Beziehungsmanager

Struktur des Beziehungsmanagements:

Kundensegment	Engagierte Manager
Kommerzielles Banking	22 Kundenbetreuer
Vermögende Privatpersonen	8 spezialisierte Manager

Community-Engagement-Programme

Kennzahlen zur Community-Interaktion:

• Lokale Finanzbildungsveranstaltungen: 36 jährlich
• Gemeinschaftspatenschaften: 24 lokale Organisationen
• Gesamtinvestition der Gemeinschaft: 375.000 US-Dollar im Jahr 2023

Maßgeschneiderte Finanzberatungsdienste

Aufschlüsselung der Beratungsleistungen:

Beratungstyp	Jahresvolumen
Beratungen zur Vermögensverwaltung	1,850
Sitzungen zur Business-Banking-Strategie	620
Persönliche Finanzplanungsgespräche	2,400

Sterling Bancorp, Inc. (Southfield, MI) (SBT) – Geschäftsmodell: Kanäle

Standorte physischer Bankfilialen

Ab 2023 ist Sterling Bancorp, Inc. tätig Insgesamt 22 Bankfilialen, hauptsächlich in Michigan konzentriert.

Standorttyp	Anzahl der Filialen	Primärer geografischer Fokus
Metro Detroit	18	Südost-Michigan
Vorstadtstandorte	4	Landkreise Oakland und Macomb

Online-Banking-Website

Sterling Bancorp bietet digitale Bankdienstleistungen über seine sichere Online-Plattform an.

• Website: sterling.bank
• Online-Banking-Nutzer: 42.365 im vierten Quartal 2023
• Digitales Transaktionsvolumen: 1,2 Millionen Transaktionen jährlich

Mobile-Banking-Anwendung

Die mobile Anwendung der Bank bietet umfassende Bankdienstleistungen.

Metriken für mobile Apps	Daten für 2023
Gesamtzahl der Downloads mobiler Apps	27,843
Monatlich aktive Benutzer	19,672

Telefon-Banking-Unterstützung

Kundensupport rund um die Uhr mit dediziertem Call-Center-Betrieb.

• Durchschnittliche Anrufantwortzeit: 2,5 Minuten
• Jährliches Anrufvolumen: 156.000 Kundeninteraktionen
• Unterstützte Sprachen: Englisch, Spanisch

ATM-Netzwerk

Sterling Bancorp bietet Kundenzugang über mehrere Geldautomatenkanäle.

Details zum Geldautomatennetzwerk	Menge
Eigene Geldautomaten	34
Gemeinsam genutzte Netzwerk-Geldautomaten	287
Gesamtzahl der Geldautomaten-Zugangspunkte	321

Sterling Bancorp, Inc. (Southfield, MI) (SBT) – Geschäftsmodell: Kundensegmente

Kleine und mittlere Unternehmen in Michigan

Gesamtzahl der betreuten KMU: 1.247

Branchensegment	Anzahl der Unternehmen	Gesamtkreditportfolio
Herstellung	312	47,3 Millionen US-Dollar
Einzelhandel	276	38,6 Millionen US-Dollar
Professionelle Dienstleistungen	419	62,1 Millionen US-Dollar

Lokale gewerbliche Immobilieninvestoren

Gesamtkredite für gewerbliche Immobilien: 214,5 Millionen US-Dollar

• Durchschnittliche Kredithöhe: 3,2 Millionen US-Dollar
• Anzahl aktiver Immobilieninvestorenkunden: 67
• Immobilienarten: Büro, Einzelhandel, Industrie

Privatkunden im Privatkundengeschäft

Gesamtkundenzahl im Privatkundengeschäft: 42.586

Kundentyp	Anzahl der Konten	Durchschnittlicher Kontostand
Persönliche Überprüfung	28,392	$7,845
Sparkonten	14,194	$12,563

Professionelle Dienstleister

Gesamtzahl der professionellen Dienstleistungskunden: 532

• Juristen: 187
• Wirtschaftsprüfungsgesellschaften: 213
• Gesundheitsdienstleister: 132

Lokale kommunale und staatliche Stellen

Gesamtzahl der kommunalen Bankbeziehungen: 24

Entitätstyp	Anzahl der Kunden	Gesamtportfolio der kommunalen Banken
Stadtverwaltungen	12	89,7 Millionen US-Dollar
Bezirksbehörden	8	42,3 Millionen US-Dollar
Schulbezirke	4	23,5 Millionen US-Dollar

Sterling Bancorp, Inc. (Southfield, MI) (SBT) – Geschäftsmodell: Kostenstruktur

Gehälter und Leistungen der Mitarbeiter

Laut dem Jahresbericht 2022 von Sterling Bancorp beliefen sich die Gesamtaufwendungen für die Mitarbeitervergütung auf 43,7 Millionen US-Dollar. Dazu gehört:

Ausgabenkategorie	Betrag ($)
Grundgehälter	31,200,000
Leistungsprämien	5,600,000
Gesundheitsleistungen	4,300,000
Altersvorsorgebeiträge	2,600,000

Wartung von Technologie und digitaler Infrastruktur

Die Kosten für die Technologieinfrastruktur beliefen sich im Jahr 2022 auf insgesamt 12,5 Millionen US-Dollar und setzten sich zusammen aus:

• Kernbankensysteme: 5.800.000 US-Dollar
• Cybersicherheitsinfrastruktur: 3.200.000 US-Dollar
• Digitale Banking-Plattformen: 2.100.000 US-Dollar
• IT-Support und Wartung: 1.400.000 $

Betriebsausgaben der Zweigstelle

Die gesamten filialbezogenen Betriebskosten beliefen sich im Jahr 2022 auf 8,9 Millionen US-Dollar:

Betriebskostenkategorie	Betrag ($)
Miete und Nebenkosten	4,600,000
Branchenausrüstung	1,900,000
Wartung und Reparaturen	1,400,000
Filialsicherheit	1,000,000

Kosten für die Einhaltung gesetzlicher Vorschriften

Die Compliance-Aufwendungen für 2022 beliefen sich auf 6,3 Millionen US-Dollar:

• Rechts- und Regulierungsberatung: 2.700.000 US-Dollar
• Compliance-Software und -Systeme: 1.800.000 US-Dollar
• Schulung und Dokumentation: 1.200.000 US-Dollar
• Externe Prüfungsgebühren: 600.000 US-Dollar

Aufwendungen für Marketing und Kundenakquise

Die Marketingausgaben im Jahr 2022 beliefen sich auf insgesamt 5,6 Millionen US-Dollar:

Marketingkanal	Betrag ($)
Digitales Marketing	2,400,000
Traditionelle Medienwerbung	1,700,000
Gemeinschaftspatenschaften	900,000
Kundenempfehlungsprogramme	600,000

Sterling Bancorp, Inc. (Southfield, MI) (SBT) – Geschäftsmodell: Einnahmequellen

Zinserträge aus Gewerbekrediten

Für das Geschäftsjahr 2023 meldete Sterling Bancorp einen Nettozinsertrag von 68,3 Millionen US-Dollar aus gewerblichen Kreditportfolios.

Kreditkategorie	Gesamtkreditsaldo	Durchschnittlicher Zinssatz
Gewerbeimmobilien	412,6 Millionen US-Dollar	5.75%
Kommerziell & Industriekredite	287,4 Millionen US-Dollar	6.22%

Gebühren für Hypothekendarlehen

Hypothekendarlehensgebühren generierten für Sterling Bancorp im Jahr 2023 einen Umsatz von 14,2 Millionen US-Dollar.

• Erstellungsgebühren: 9,6 Millionen US-Dollar
• Refinanzierungsgebühren: 4,6 Millionen US-Dollar

Servicegebühren für das Einlagenkonto

Die Servicegebühren für Einlagenkonten beliefen sich im Jahr 2023 auf insgesamt 7,5 Millionen US-Dollar.

Kontotyp	Einnahmen aus Servicegebühren
Girokonten	4,3 Millionen US-Dollar
Sparkonten	2,1 Millionen US-Dollar
Geldmarktkonten	1,1 Millionen US-Dollar

Provisionen für Anlageprodukte

Die Provisionen für Anlageprodukte erreichten im Jahr 2023 5,8 Millionen US-Dollar.

• Vermögensverwaltungsprovisionen: 3,6 Millionen US-Dollar
• Maklerdienste: 2,2 Millionen US-Dollar

Gebühren für digitale Banktransaktionen

Die Gebühren für digitale Banktransaktionen beliefen sich im Jahr 2023 auf 3,4 Millionen US-Dollar.

Digitaler Service	Einnahmen aus Transaktionsgebühren
Online-Banking-Transaktionen	2,1 Millionen US-Dollar
Mobile Banking-Transaktionen	1,3 Millionen US-Dollar

Sterling Bancorp, Inc. (Southfield, MI) (SBT) - Canvas Business Model: Value Propositions

You're looking at the value proposition for Sterling Bancorp, Inc. (SBT) as it executes its Plan of Dissolution following the sale of its bank subsidiary. The core value here is the efficient return of capital to you, the shareholder, after the transaction closed on April 1, 2025.

Timely and efficient execution of the corporate dissolution is paramount. Sterling Bancorp filed its certificate of dissolution with the Michigan Department of Licensing and Regulatory Affairs on April 1, 2025, right after closing the sale of Sterling Bank and Trust, F.S.B. to EverBank Financial Corp. The stock transfer books closed that same day, April 1, 2025, signaling the shift from operating entity to liquidation vehicle.

The focus immediately shifted to maximizing the final cash distribution to shareholders. The initial step was a significant return of capital. You should note the exact amount declared:

• Initial liquidating distribution declared: $4.85 per share.
• Total initial distribution amount: Approximately $252 million.
• Cash retained post-initial distribution for wind-down: Approximately $16 million.

This initial payout represented a substantial portion of the company's market capitalization around that time, which was reported near $253.13 million with shares trading at $4.84 just before the distribution announcement.

The commitment to transparency in the final winding-down process is demonstrated by the clear communication around the distribution schedule and the remaining funds. The company intends to make a final cash distribution subject to settling all creditors and liabilities, including potential defense costs related to demand letters from a purported shareholder and two former executive officers.

Here's a quick look at the key financial milestones tied to this value delivery:

Event/Metric	Amount/Date
Fixed Purchase Price for Bank Sale	$261 million
Initial Liquidating Distribution Per Share	$4.85
Initial Distribution Payable Date	April 8, 2025
Record Date for Distributions	April 1, 2025
Cash Held for Final Wind-Down	Approx. $16 million

The final distribution amount remains contingent, but the structure is set to return all remaining assets after the wind-down costs are covered, following Michigan law and the Plan of Dissolution.

For your records, the stock was set to be delisted from the Nasdaq Capital Market, and the company expected to file a Form 15 within 20 days of April 1, 2025, to suspend its periodic reporting obligations under the Securities Exchange Act of 1934.

Finance: draft 13-week cash view by Friday.

Sterling Bancorp, Inc. (Southfield, MI) (SBT) - Canvas Business Model: Customer Relationships

You're looking at the customer relationships for Sterling Bancorp, Inc. (SBT) as it winds down operations post-bank sale. The relationships are now almost entirely administrative or transactional, focused on final settlements rather than ongoing service.

Transactional relationship with shareholders (cash distribution)

The primary transactional relationship with shareholders centers on the liquidation process following the sale of the bank subsidiary. This is a one-time, or multi-stage, cash distribution event, not a recurring dividend.

The initial liquidating distribution declared was $4.85 per share, amounting to approximately $252 million in total cash distributed.

This initial payment was made on April 8, 2025, to shareholders of record as of April 1, 2025.

The relationship is defined by these key figures:

• Initial Liquidating Distribution Amount: $4.85 per share.
• Total Initial Distribution: Approximately $252 million.
• Cash Retained for Wind-Down: Approximately $16 million.
• Shareholder Approval for Dissolution: More than 99% of votes cast.

The company anticipates there may be future liquidating distributions if funds remain after settling all costs and liabilities.

Formal communication via SEC filings and press releases

Communication has shifted from ongoing operational updates to formal disclosures related to the dissolution and delisting. The relationship is governed by regulatory requirements until reporting obligations cease.

Sterling Bancorp, Inc. filed a Form 25 with the Securities and Exchange Commission to delist its common stock from the Nasdaq Capital Market.

The company expects to file a Form 15 within the next 20 days following the initial distribution to suspend its periodic reporting obligations under the Securities Exchange Act of 1934.

Key formal communication milestones include:

Communication Type	Date/Period	Financial/Statistical Data Point
Sale of Bank Closing	April 1, 2025	Fixed cash consideration received: $261 million.
Initial Liquidating Distribution	April 8, 2025	Amount: $4.85 per share.
Last Known Financial Report	Form 10-K filed March 14, 2025	Trailing twelve-month Return on Equity: 0.65% (as of Jan 30, 2025 report).

Shareholder Relations Department contact information remains available for requests, listing phone number (248) 355-2400.

Minimal administrative contact with former bank customers

Customer relationships for the former bank operations are now managed by the acquirer, EverBank Financial Corp. Sterling Bancorp, Inc. (SBT) has minimal direct administrative contact, as the bank subsidiary merged into EverBank, National Association, effective 12:01 a.m. (Eastern Time) on April 1, 2025.

The branch network transition involved specific closures and information dissemination:

• Michigan Branch Closure Date: Close of business on March 31, 2025.
• Non-Michigan Branches: Opened as EverBank branches on April 1, 2025.
• Information for Former Customers: Former Sterling customers at non-Michigan branches will receive additional information regarding account effects.

The holding company's direct customer-facing role ended with the bank sale.

Managing final vendor and creditor settlements

The ability to make final cash distributions to shareholders is contingent upon settling all existing and reasonably foreseeable debts and liabilities under Michigan law. This involves managing final vendor and creditor claims, which includes specific, previously disclosed liabilities.

The company must account for potential liabilities and defense costs related to demand letters received from:

• A purported shareholder.
• Two former executive officers of Sterling Bank and Trust, F.S.B..

Past financial obligations related to legal matters that have been settled include:

The criminal securities fraud restitution amount, which was $27,239,000, was paid to the Clerk of Court on August 15, 2023. Separately, a class action settlement fund of $12.5 million was distributed on December 21, 2022.

Finance: draft 13-week cash view by Friday.

Sterling Bancorp, Inc. (Southfield, MI) (SBT) - Canvas Business Model: Channels

You're looking at the channels for Sterling Bancorp, Inc. (SBT) in late 2025, and honestly, it's a unique situation because the company is winding down operations following the sale of its primary asset.

Direct cash distributions via the Transfer Agent

The primary channel for shareholder interaction in 2025 was the direct cash distribution process managed by the appointed paying agent. This channel executed the initial liquidating payment following the sale of the Bank subsidiary to EverBank Financial Corp. on April 1, 2025.

Computershare Inc. and Computershare Trust Company, N.A. served as the paying agent for these distributions to shareholders of record as of April 1, 2025.

The key figures for this channel are:

• Initial liquidating distribution amount per share: $4.85.
• Total approximate initial distribution amount: $252 million.
• Cash remaining for final wind-down distributions: approximately $16 million.

Distribution Event Channel	Agent/Recipient	Key Financial Amount (USD)	Date Reference
Initial Liquidating Distribution	Shareholders of Record	$4.85 per share	April 8, 2025 (Payable)
Total Initial Distribution Value	Shareholders	Approximately $252 million	April 2025
Remaining Cash for Final Distribution	Transfer Agent/Trust	Approximately $16 million	Post April 8, 2025

Official communications through SEC filings (Form 8-K, etc.)

Official regulatory disclosures served as a mandatory channel for communicating the dissolution milestones. These filings confirmed the change in status from an operating holding company to a liquidating entity.

Sterling Bancorp, Inc. filed a Form 25 with the Securities and Exchange Commission to officially delist its common stock from the Nasdaq Capital Market following the Bank sale closing on April 1, 2025. Furthermore, the company announced plans to file a Form 15 within the next 20 days after April 1, 2025, to suspend its ongoing periodic reporting obligations under the Securities Exchange Act of 1934.

The transaction itself-the sale of the Bank to EverBank for a fixed purchase price of $261 million-was documented via filings, including a Form 8-K expected around December 20, 2024, detailing the shareholder vote and the Plan of Dissolution approval.

Investor Relations website for public updates

The Investor Relations website remained the public-facing channel for disseminating time-sensitive, non-regulatory updates related to the wind-down. This included press releases detailing the critical path items for shareholders.

Key updates communicated via this channel included:

• Announcement of the initial liquidating distribution declaration on April 1, 2025.
• Confirmation of the stock transfer books closing effective as of the close of business on April 1, 2025.
• Updates regarding the final liquidating distribution amount, which is pending the completion of wind-down costs and liabilities.

Legal and accounting firms for final process execution

While the core business operations ceased, legal and accounting firms are critical channels for the final execution of the Plan of Dissolution. These firms manage the complex process of settling remaining liabilities and calculating the final distribution.

The remaining cash pool of approximately $16 million is earmarked to cover the costs associated with the dissolution, which inherently includes fees for these professional service providers. These costs cover final accounting, tax compliance for the liquidating entity, and legal defense costs related to previously disclosed demand letters, including one from a purported shareholder and two from former executive officers of the former banking subsidiary.

Sterling Bancorp, Inc. (Southfield, MI) (SBT) - Canvas Business Model: Customer Segments

You're looking at the final stages of Sterling Bancorp, Inc. (SBT) as a going concern, so the customer segments are primarily stakeholders receiving final value or managing wind-down obligations following the sale of its bank subsidiary.

Common Stock Shareholders (primary focus for final value)

The focus shifts entirely to the distribution of remaining assets after the April 1, 2025, sale of Sterling Bank and Trust, F.S.B. to EverBank Financial Corp. The stock transfer books closed on April 1, 2025, signaling the end of active trading for the purpose of distributions.

The initial liquidating distribution was declared at $4.85 per share, totaling approximately $252 million, payable on April 8, 2025.

• Initial Liquidating Distribution Amount: $252 million
• Cash remaining after initial distribution: approximately $16 million
• Stock Price as of March 31, 2025: $4.84 / share
• Total Shares Outstanding (pre-distribution basis): 52.30M
• Institutional Shareholders (as of March 31, 2025): 80 entities holding 1,998,541 shares
• Restitution to non-insider victim-shareholders agreed upon: more than $27 million

Regulatory bodies (Federal Reserve, OCC, SEC)

These bodies govern the final wind-down process and ensure compliance with prior agreements and legal settlements. The transaction closing was approved by the Federal Reserve Board and the OCC on March 14, 2025.

Sterling Bancorp, Inc. is subject to a term of probation through 2026 related to a prior plea agreement. Prior to the sale, the OCC required prior approval for the Bank to pay dividends to the Company due to an existing OCC Agreement. The company expects to file a Form 15 with the SEC within 20 days of April 1, 2025, to suspend periodic reporting obligations.

Regulatory Body/Requirement	Relevant Figure/Status	Date Context
Sale Approval Date (Fed/OCC)	March 14, 2025
Probation Term End Date	2026
Prior Dividend Approval Requirement	OCC Agreement
SEC Reporting Suspension Filing	Form 15 expected within 20 days of April 1, 2025

Creditors and vendors requiring final payment

The Plan of Dissolution requires paying or providing for all creditors and existing/foreseeable debts before the final liquidating distribution to shareholders. While specific current vendor balances aren't provided for late 2025, prior financial health metrics give context to the balance sheet structure before the sale.

• Debt/Equity Ratio (prior metric): 0.03
• Long-Term Debt/Equity (prior metric): 0
• Total Revenue (FY 2024): $58 million
• Consolidated Net Income (FY 2024): $2.14 million

Former employees (for final severance/benefits)

Liabilities include potential obligations related to demand letters from two former executive officers of the Bank. Remedial actions following past issues involved the termination of over 100 officers and employees.

An older, but relevant, employment agreement for one executive specified an annual Base Salary of $950,000 effective January 1, 2019.

Finance: draft 13-week cash view by Friday.

Sterling Bancorp, Inc. (Southfield, MI) (SBT) - Canvas Business Model: Cost Structure

You're looking at the final, necessary expenses for Sterling Bancorp, Inc. as it executes its Plan of Dissolution following the sale of Sterling Bank and Trust, F.S.B. to EverBank Financial Corp on April 1, 2025. The cost structure here is entirely focused on winding down the holding company entity, not on ongoing operations, since the bank subsidiary was sold for $261,000,000 in cash. The key is that all these costs reduce the final cash available for distribution to shareholders, which was initially estimated to be all cash remaining after obligations were met. The initial liquidating distribution of $4.85 per share, totaling approximately $252 million, was paid out on April 8, 2025.

The remaining cash pool, approximately $16 million, is explicitly earmarked to cover the final wind-down expenses and any unforeseen liabilities. This remaining pool must cover the professional fees, administrative overhead for the shell company, and any final regulatory sign-offs required by Michigan law to officially cease existence. Honestly, these costs are what determine the size of any potential second, final distribution.

A significant, pre-existing liability that directly impacts the final cash position is the restitution ordered from the 2023 securities fraud settlement. This obligation, which Sterling Bancorp, Inc. was ordered to pay to non-insider victim-shareholders, amounts to $27,239,000.00. While the company was on probation through 2026, the settlement of this liability is a critical cost component that must be addressed before the final shareholder distribution can occur. The company also noted potential liabilities and defense costs related to demand letters from a purported shareholder and two former executive officers, which will draw from that remaining $16 million cash reserve.

Here's a quick look at the major known financial anchors related to the wind-down and associated liabilities that shape the cost structure:

Cost/Liability Component	Amount (USD)	Context
Cash Proceeds from Bank Sale	$261,000,000	Fixed cash consideration received from EverBank Financial Corp on April 1, 2025.
Initial Liquidating Distribution Paid	Approx. $252,000,000	Distribution made on April 8, 2025, at $4.85 per share.
Cash Reserved for Final Wind-Down Costs	Approx. $16,000,000	Cash remaining after the initial distribution to cover final obligations.
Restitution Payment (Securities Fraud)	$27,239,000.00	Liability from 2023 sentencing, which must be settled.
Potential Legal Defense Costs	Drawn from $16 Million Reserve	Costs related to demand letters from a purported shareholder and former executives.

The employee benefit settlement costs are primarily driven by executive and director compensation actions taken in anticipation of the closing. The Executive Compensation Committee approved the accelerated vesting of all unvested restricted stock for independent directors and certain key employees on March 19, 2025, which is a direct cost event tied to the transaction completion. This action is a significant, non-recurring expense within the holding company's final cost structure.

The remaining dissolution costs, which are the professional fees for legal/accounting/advisory services and the administrative costs for the shell company, are not explicitly itemized in the public announcements, but they are the direct purpose of the remaining $16 million cash reserve, alongside the contingent liabilities. To be fair, the final accounting for the dissolution will show these specific line items once the process is fully complete.

• Accelerated vesting of restricted stock for directors and key employees on March 19, 2025.
• Filing of a certificate of dissolution with the Michigan Department of Licensing and Regulatory Affairs on April 1, 2025.
• Expected filing of Form 15 to suspend periodic reporting obligations.

Finance: draft 13-week cash view by Friday.

Sterling Bancorp, Inc. (Southfield, MI) (SBT) - Canvas Business Model: Revenue Streams

You're looking at the revenue streams for Sterling Bancorp, Inc. (SBT) as of late 2025, which is really about the realization of value from its planned dissolution following the sale of its primary asset. The focus shifts entirely from traditional banking operations to asset liquidation and shareholder distribution.

The most significant cash event was the sale of the bank subsidiary. The definitive Stock Purchase Agreement with EverBank Financial Corp set the fixed cash consideration for all issued and outstanding shares of Sterling Bank and Trust, F.S.B. at a total of $261 million. This transaction closed before the market opened on April 1, 2025.

Following the closing, the Board declared an initial liquidating distribution. This distribution was set at $4.85 per share, totaling approximately $252 million, payable on April 8, 2025. After this initial payout, the Company retained approximately $16 million in cash to complete the wind down and pay remaining obligations.

The realization of value from the legacy loan portfolio was a prerequisite for the main bank sale. Here's how the proceeds from the residential TIC loan portfolio sale were structured:

Asset Sold	Sale Condition/Basis	Reference Principal Balance (as of 12/31/2024)
Residential Tenant-in-Common (TIC) Loans	Purchase price equal to 87% of the aggregate unpaid principal balance plus all accrued and unpaid interest.	Approximately $349 million

Interest income earned on retained cash balances is now a minor, transitional revenue stream, primarily generated while the remaining cash is held prior to the final distribution. You can see the sharp drop in the balance sheet's cash position reflecting this transition. Cash and Due from Banks stood at $502,121,000 on December 31, 2024, but had decreased to $131,073,000 by September 30, 2025. This remaining cash balance is what generates the final interest income before the final wind-down distribution.

Regarding the recovery of any remaining tax assets or refunds, the financial landscape was significantly shaped by the prior legal settlements. As part of the 2023 plea agreement with the Department of Justice, Sterling Bancorp, Inc. agreed not to seek a tax deduction for the $27,239,000.00 restitution payment. The last reported balance for the Deferred tax asset, net, was $16,959,000 as of December 31, 2023.

The remaining revenue sources are tied to the wind-down process, which includes:

• Cash proceeds from the sale of Sterling Bank and Trust: $261 million.
• Initial Liquidating Distribution: Approximately $252 million paid out.
• Residential TIC Loan Sale Proceeds: Calculated based on 87% of the $349 million principal balance plus interest.
• Cash on Hand for Final Distribution: Approximately $16 million remaining after the initial payout.

Finance: draft final cash reconciliation schedule by next Tuesday.