Sterling Bancorp, Inc. (Southfield, MI) (SBT): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Sumérgete en el plan estratégico de Sterling Bancorp, Inc., una institución financiera dinámica ubicada en el corazón de Southfield, Michigan, eso está redefiniendo la banca regional a través de un modelo de negocio meticulosamente elaborado. Este enfoque innovador combina servicios financieros personalizados, tecnología digital de vanguardia y un profundo compromiso con los ecosistemas comerciales locales, posicionando a SBT como un jugador fundamental en el panorama bancario competitivo de Michigan. Desde soluciones de préstamos a medida hasta estrategias centradas en la comunidad, el lienzo de modelo de negocio de Sterling Bancorp revela un marco sofisticado diseñado para ofrecer un valor excepcional a las pequeñas empresas, inversores inmobiliarios y clientes individuales por igual.

Sterling Bancorp, Inc. (Southfield, MI) (SBT) - Modelo de negocio: asociaciones clave

Asociaciones comerciales locales y regionales en Michigan

Sterling Bancorp mantiene asociaciones estratégicas con las siguientes asociaciones comerciales de Michigan:

Nombre de la asociación	Detalles de la asociación	Año establecido
Asociación de Banqueros de Michigan	Miembro activo desde 2012	2012
Cámara regional de Detroit	Asociación de redes comerciales	2015

Desarrolladores de bienes raíces comerciales

Las asociaciones clave de desarrollo inmobiliario comercial incluyen:

Revelador	Cartera de préstamos totales	Año de asociación
Grupo de Desarrollo de Southfield	$ 42.3 millones	2018
Metro Detroit Properties LLC	$ 35.7 millones	2019

Redes empresariales pequeñas a medianas

Asociaciones de redes empresariales:

• Centro de desarrollo de pequeñas empresas de Michigan
• Red de emprendedores del sudeste de Michigan
• Centro de negocios del condado de Oakland

Proveedores de servicios de tecnología financiera (fintech)

Asociaciones e integración de fintech:

Proveedor de fintech	Tipo de servicio	Año de integración
Fiserv	Plataforma bancaria central	2017
Jack Henry & Asociado	Soluciones de banca digital	2019

Intermediarios de hipotecas y préstamos

Estadísticas de asociación de préstamos:

Intermediario	Volumen total del préstamo	Duración de la asociación
Préstamos para acelerar	$ 127.6 millones	2016-presente
Banco Flagstar	$ 93.4 millones	2017-presente

Sterling Bancorp, Inc. (Southfield, MI) (SBT) - Modelo de negocio: actividades clave

Servicios de banca comercial y minorista

Cartera total de préstamos comerciales: $ 1.62 mil millones (cuarto trimestre de 2023)

Categoría de préstamo	Volumen total
Inmobiliario comercial	$ 872 millones
Comercial & Préstamos industriales	$ 748 millones

Préstamos para pequeñas empresas

Originaciones de préstamos para pequeñas empresas: $ 214 millones en 2023

• Tamaño promedio del préstamo para pequeñas empresas: $ 156,000
• Tasa de aprobación del préstamo: 62.3%
• Número de clientes de pequeñas empresas: 4,327

Gestión de cuentas de depósito e inversión

Depósitos totales: $ 2.37 mil millones (cuarto trimestre 2023)

Tipo de depósito	Volumen total
Cuentas corrientes	$ 876 millones
Cuentas de ahorro	$ 643 millones
Cuentas del mercado monetario	$ 512 millones
Certificados de depósito	$ 339 millones

Desarrollo de la plataforma de banca digital

Usuarios de banca digital: 78,500

• Descargas de aplicaciones de banca móvil: 42,300
• Transacciones bancarias en línea por mes: 1.2 millones
• Inversión bancaria digital: $ 4.7 millones en 2023

Gestión de riesgos y asesoramiento financiero

Presupuesto de gestión de riesgos: $ 6.2 millones en 2023

Categoría de gestión de riesgos	Asignación
Gestión de riesgos de crédito	$ 2.8 millones
Gestión de riesgos de cumplimiento	$ 1.9 millones
Gestión de riesgos operativos	$ 1.5 millones

Sterling Bancorp, Inc. (Southfield, MI) (SBT) - Modelo de negocio: recursos clave

Infraestructura bancaria regional fuerte en Michigan

Activos totales a partir del tercer trimestre 2023: $ 3.51 mil millones

Infraestructura métrica	Valor
Sucursales bancarias totales	32 ubicaciones
Cobertura geográfica	Sureste de Michigan
Total de empleados	441 empleados a tiempo completo

Equipo experimentado de gestión financiera

Composición de liderazgo superior:

• Promedio de tenencia ejecutiva: 18 años en banca
• Compensación ejecutiva total en 2022: $ 4.2 millones
• CEO Gary Torgow - Experiencia bancaria de más de 30 años

Sistemas de tecnología bancaria digital

Inversión tecnológica	Cantidad
Gasto anual de TI	$ 7.3 millones
Usuarios de banca móvil	48,000 usuarios activos
Plataforma bancaria en línea	Sistema basado en la nube

Base de depósito de clientes

Depósitos totales a partir del tercer trimestre 2023: $ 3.01 mil millones

• Cuentas corrientes: $ 879 millones
• Cuentas de ahorro: $ 612 millones
• Cuentas del mercado monetario: $ 438 millones

Red de sucursales físicas

Ubicación de la rama	Número de ramas
Southfield	8 ramas
Área metropolitana de Detroit	24 ramas
Tamaño promedio de la rama	3,200 pies cuadrados.

Sterling Bancorp, Inc. (Southfield, MI) (SBT) - Modelo de negocio: propuestas de valor

Soluciones bancarias personalizadas para empresas locales

A partir del cuarto trimestre de 2023, Sterling Bancorp ofreció servicios especializados de banca comercial con una cartera total de préstamos comerciales de $ 1.47 mil millones. El banco proporcionó soluciones financieras específicas para pequeñas y medianas empresas (PYME) en Michigan.

Segmento de negocios	Valor de la cartera de préstamos	Tamaño promedio del préstamo
Inmobiliario comercial	$ 892 millones	$ 3.2 millones
Capital de trabajo comercial	$ 578 millones	$425,000

Tasas de interés competitivas sobre préstamos y depósitos

Sterling Bancorp mantuvo tasas de interés competitivas en sus ofertas de productos:

• Tasas de interés del préstamo comercial: 5.75% - 8.25%
• Tasas hipotecarias comerciales: 6.25% - 7.50%
• Tasas de cuenta de ahorro de negocios: 2.35% - 3.15%
• Tarifas de cuenta corriente de negocios: 1.25% - 2.00%

Servicios financieros receptivos y flexibles

El banco procesó un promedio de 672 solicitudes de préstamos comerciales mensualmente, con una tasa de aprobación del 78%. El tiempo típico de procesamiento de préstamos fue de 5-7 días hábiles.

Enfoque bancario centrado en la comunidad

Sterling Bancorp mantuvo El 97% de sus actividades de préstamo dentro de Michigan, con un enfoque concentrado en los mercados del sureste de Michigan.

Distribución de préstamos geográficos	Porcentaje
Condado de Wayne	42%
Condado de Oakland	35%
Condado de Macomb	20%

Procesamiento de préstamos rápido y eficiente

Sterling Bancorp demostró un procesamiento de préstamos eficiente con las siguientes métricas:

• Tiempo promedio de aprobación del préstamo: 4.8 días
• Tasa de finalización de la aplicación digital: 62%
• Adopción de banca en línea: 73% de clientes comerciales

Sterling Bancorp, Inc. (Southfield, MI) (SBT) - Modelo de negocio: relaciones con los clientes

Interacciones bancarias personales directas

A partir de 2024, Sterling Bancorp mantiene 15 ubicaciones de ramas físicas en Michigan. Las métricas de interacción del cliente incluyen:

Tipo de interacción	Frecuencia mensual promedio
Visitas en la rama	3.750 clientes
Consultas de banqueros personales	1,275 interacciones

Plataformas de banca en línea y móvil

Estadísticas de participación bancaria digital:

• Usuarios de banca móvil: 42,500
• Cuentas activas de banca en línea: 68,300
• Aplicación móvil Usuarios activos mensuales: 35,750

Gerentes de relaciones dedicadas

Estructura de gestión de relaciones:

Segmento de clientes	Gerentes dedicados
Banca comercial	22 gerentes de relaciones
Individuos de alto nivel de red	8 gerentes especializados

Programas de participación comunitaria

Métricas de interacción comunitaria:

• Eventos de educación financiera local: 36 anualmente
• Patrocinios comunitarios: 24 organizaciones locales
• Inversión comunitaria total: $ 375,000 en 2023

Servicios de consulta financiera personalizada

Desglose del servicio de consulta:

Tipo de consulta	Volumen anual
Consultas de gestión de patrimonio	1,850
Sesiones de estrategia bancaria de negocios	620
Reuniones de planificación financiera personal	2,400

Sterling Bancorp, Inc. (Southfield, MI) (SBT) - Modelo de negocio: canales

Ubicaciones de sucursales bancarias físicas

A partir de 2023, Sterling Bancorp, Inc. opera 22 ubicaciones de sucursales bancarias totales, principalmente concentrado en Michigan.

Tipo de ubicación	Número de ramas	Enfoque geográfico primario
Metro Detroit	18	Sureste de Michigan
Ubicaciones suburbanas	4	Condados de Oakland y Macomb

Sitio web de banca en línea

Sterling Bancorp proporciona servicios de banca digital a través de su plataforma en línea segura.

• Sitio web: Sterling.bank
• Usuarios bancarios en línea: 42,365 a partir del cuarto trimestre 2023
• Volumen de transacciones digitales: 1.2 millones de transacciones anualmente

Aplicación de banca móvil

La aplicación móvil del banco ofrece servicios bancarios integrales.

Métricas de aplicaciones móviles	2023 datos
Descargas totales de aplicaciones móviles	27,843
Usuarios activos mensuales	19,672

Soporte de banca telefónica

Atención al cliente 24/7 con operaciones de centro de llamadas dedicadas.

• Tiempo promedio de respuesta de llamadas: 2.5 minutos
• Volumen anual de llamadas: 156,000 interacciones con el cliente
• Idiomas de apoyo: inglés, español

Red de cajeros automáticos

Sterling Bancorp proporciona acceso al cliente a través de múltiples canales de cajeros automáticos.

Detalles de la red de cajeros automáticos	Cantidad
Cajeros automáticos	34
ATM de red compartidos	287
Puntos de acceso total de cajero automático	321

Sterling Bancorp, Inc. (Southfield, MI) (SBT) - Modelo de negocio: segmentos de clientes

Empresas pequeñas a medianas en Michigan

Número total de PYME servidas: 1,247

Segmento de la industria	Número de negocios	Cartera de préstamos totales
Fabricación	312	$ 47.3 millones
Minorista	276	$ 38.6 millones
Servicios profesionales	419	$ 62.1 millones

Inversores inmobiliarios comerciales locales

Préstamos inmobiliarios comerciales totales: $ 214.5 millones

• Tamaño promedio del préstamo: $ 3.2 millones
• Número de clientes de inversores inmobiliarios activos: 67
• Tipos de propiedades: oficina, minorista, industrial

Clientes de banca minorista individual

Total de clientes de banca minorista: 42,586

Tipo de cliente	Número de cuentas	Saldo de cuenta promedio
Comprobación personal	28,392	$7,845
Cuentas de ahorro	14,194	$12,563

Proveedores de servicios profesionales

Total de servicios de servicio profesional: 532

• Profesionales legales: 187
• Firmas de contabilidad: 213
• Proveedores de atención médica: 132

Entidades municipales y gubernamentales locales

Relaciones bancarias municipales totales: 24

Tipo de entidad	Número de clientes	Cartera de banca municipal total
Gobiernos municipales	12	$ 89.7 millones
Agencias del condado	8	$ 42.3 millones
Distritos escolares	4	$ 23.5 millones

Sterling Bancorp, Inc. (Southfield, MI) (SBT) - Modelo de negocio: Estructura de costos

Salarios y beneficios de los empleados

A partir del informe anual 2022 de Sterling Bancorp, los gastos de compensación de empleados totales fueron de $ 43.7 millones. Esto incluye:

Categoría de gastos	Monto ($)
Salarios base	31,200,000
Bonos de rendimiento	5,600,000
Beneficios de atención médica	4,300,000
Contribuciones de jubilación	2,600,000

Tecnología y mantenimiento de infraestructura digital

Los costos de infraestructura tecnológica para 2022 totalizaron $ 12.5 millones, que comprenden:

• Sistemas bancarios centrales: $ 5,800,000
• Infraestructura de ciberseguridad: $ 3,200,000
• Plataformas de banca digital: $ 2,100,000
• Soporte y mantenimiento de TI: $ 1,400,000

Gastos operativos de rama

Los costos operativos totales relacionados con las sucursales en 2022 fueron de $ 8.9 millones:

Categoría de costos operativos	Monto ($)
Alquiler y servicios públicos	4,600,000
Equipo de rama	1,900,000
Mantenimiento y reparaciones	1,400,000
Seguridad de la rama	1,000,000

Costos de cumplimiento regulatorio

Los gastos de cumplimiento para 2022 ascendieron a $ 6.3 millones:

• Consultoría legal y regulatoria: $ 2,700,000
• Software y sistemas de cumplimiento: $ 1,800,000
• Capacitación y documentación: $ 1,200,000
• Tarifas de auditoría externa: $ 600,000

Gastos de marketing y adquisición de clientes

Los gastos de marketing en 2022 totalizaron $ 5.6 millones:

Canal de marketing	Monto ($)
Marketing digital	2,400,000
Publicidad de medios tradicional	1,700,000
Patrocinios comunitarios	900,000
Programas de referencia de clientes	600,000

Sterling Bancorp, Inc. (Southfield, MI) (SBT) - Modelo de negocios: flujos de ingresos

Ingresos por intereses de préstamos comerciales

Para el año fiscal 2023, Sterling Bancorp informó $ 68.3 millones en ingresos por intereses netos de las carteras de préstamos comerciales.

Categoría de préstamo	Saldo total del préstamo	Tasa de interés promedio
Inmobiliario comercial	$ 412.6 millones	5.75%
Comercial & Préstamos industriales	$ 287.4 millones	6.22%

Tarifas de préstamos hipotecarios

Las tarifas de préstamos hipotecarios generaron $ 14.2 millones en ingresos para Sterling Bancorp en 2023.

• Tarifas de origen: $ 9.6 millones
• Tarifas de refinanciación: $ 4.6 millones

Cargos de servicio de cuentas de depósito

Los cargos de servicio en cuentas de depósito totalizaron $ 7.5 millones en 2023.

Tipo de cuenta	Ingresos de carga de servicio
Cuentas corrientes	$ 4.3 millones
Cuentas de ahorro	$ 2.1 millones
Cuentas del mercado monetario	$ 1.1 millones

Comisiones de productos de inversión

Las comisiones de productos de inversión alcanzaron los $ 5.8 millones en 2023.

• Comisiones de gestión de patrimonio: $ 3.6 millones
• Servicios de corretaje: $ 2.2 millones

Tarifas de transacción bancaria digital

Las tarifas de transacción bancaria digital ascendieron a $ 3.4 millones en 2023.

Servicio digital	Ingresos de la tarifa de transacción
Transacciones bancarias en línea	$ 2.1 millones
Transacciones bancarias móviles	$ 1.3 millones

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.