Sterling Bancorp, Inc. (Southfield, MI) (SBT): Business Model Canvas [Jan-2025 Mis à jour]

Plongez dans le plan stratégique de Sterling Bancorp, Inc., une institution financière dynamique nichée au cœur de Southfield, au Michigan, qui redéfinit les services bancaires régionaux à travers un modèle commercial méticuleusement conçu. Cette approche innovante mélange les services financiers personnalisés, la technologie numérique de pointe et un engagement profond envers les écosystèmes commerciaux locaux, positionnant SBT en tant qu'acteur pivot dans le paysage bancaire compétitif du Michigan. Des solutions de prêt sur mesure aux stratégies axées sur la communauté, Sterling Bancorp Business Model Canvas révèle un cadre sophistiqué conçu pour offrir une valeur exceptionnelle aux petites entreprises, aux investisseurs immobiliers et aux clients individuels.

Sterling Bancorp, Inc. (Southfield, MI) (SBT) - Modèle commercial: partenariats clés

Associations commerciales locales et régionales du Michigan

Sterling Bancorp entretient des partenariats stratégiques avec les associations commerciales du Michigan suivantes:

Nom d'association	Détails du partenariat	Année établie
Association des banquiers du Michigan	Membre actif depuis 2012	2012
Chambre régionale de Détroit	Partenariat de réseautage d'entreprise	2015

Promoteurs immobiliers commerciaux

Les principales partenariats commerciaux de développement immobilier comprennent:

Promoteur	Portefeuille de prêts totaux	Année de partenariat
Southfield Development Group	42,3 millions de dollars	2018
Metro Detroit Properties LLC	35,7 millions de dollars	2019

Réseaux d'entreprise de petite à moyenne

Partenariats du réseau d'entreprise:

• Centre de développement des petites entreprises du Michigan
• Réseau des entrepreneurs du sud-est du Michigan
• Centre d'affaires du comté d'Oakland

Provideurs de services de technologie financière (FinTech)

Partenariats et intégration fintech:

Fournisseur de fintech	Type de service	Année d'intégration
Finerv	Plateforme bancaire de base	2017
Jack Henry & Associés	Solutions bancaires numériques	2019

Intermédiaires hypothécaires et prêts

Statistiques du partenariat de prêt:

Intermédiaire	Volume total des prêts	Durée du partenariat
Prêts accélérés	127,6 millions de dollars	2016-présent
Banc de drapeau	93,4 millions de dollars	2017-présent

Sterling Bancorp, Inc. (Southfield, MI) (SBT) - Modèle d'entreprise: activités clés

Services bancaires commerciaux et de détail

Portfolio total de prêts commerciaux: 1,62 milliard de dollars (T2 2023)

Catégorie de prêt	Volume total
Immobilier commercial	872 millions de dollars
Commercial & Prêts industriels	748 millions de dollars

Prêts aux petites entreprises

Originations de prêts aux petites entreprises: 214 millions de dollars en 2023

• Taille moyenne des prêts aux petites entreprises: 156 000 $
• Taux d'approbation du prêt: 62,3%
• Nombre de clients de petites entreprises: 4 327

Gestion des comptes de dépôt et d'investissement

Dépôts totaux: 2,37 milliards de dollars (T2 2023)

Type de dépôt	Volume total
Comptes chèques	876 millions de dollars
Comptes d'épargne	643 millions de dollars
Comptes de marché monétaire	512 millions de dollars
Certificats de dépôt	339 millions de dollars

Développement de la plate-forme bancaire numérique

Utilisateurs bancaires numériques: 78 500

• Téléchargements d'applications bancaires mobiles: 42 300
• Transactions bancaires en ligne par mois: 1,2 million
• Investissement bancaire numérique: 4,7 millions de dollars en 2023

Gestion des risques et avis financier

Budget de gestion des risques: 6,2 millions de dollars en 2023

Catégorie de gestion des risques	Allocation
Gestion des risques de crédit	2,8 millions de dollars
Gestion des risques de conformité	1,9 million de dollars
Gestion des risques opérationnels	1,5 million de dollars

Sterling Bancorp, Inc. (Southfield, MI) (SBT) - Modèle d'entreprise: Ressources clés

Solide infrastructure bancaire régionale dans le Michigan

Total des actifs au troisième trimestre 2023: 3,51 milliards de dollars

Métrique d'infrastructure	Valeur
Succursales bancaires totales	32 emplacements
Couverture géographique	Southeastern Michigan
Total des employés	441 employés à temps plein

Équipe de gestion financière expérimentée

Composition de la haute direction:

• Pureur exécutif moyen: 18 ans dans les services bancaires
• Compensation totale des cadres en 2022: 4,2 millions de dollars
• Le PDG Gary Torgow - plus de 30 ans d'expérience bancaire

Systèmes de technologie bancaire numérique

Investissement technologique	Montant
Dépenses informatiques annuelles	7,3 millions de dollars
Utilisateurs de la banque mobile	48 000 utilisateurs actifs
Plateforme bancaire en ligne	Système basé sur le cloud

Base de dépôt client

Dépôts totaux au troisième trimestre 2023: 3,01 milliards de dollars

• Comptes chèques: 879 millions de dollars
• Comptes d'épargne: 612 millions de dollars
• Comptes de marché monétaire: 438 millions de dollars

Réseau de succursale physique

Emplacement de la succursale	Nombre de branches
Sud-terrain	8 branches
Metro Detroit Area	24 branches
Taille moyenne de la branche	3 200 pieds carrés.

Sterling Bancorp, Inc. (Southfield, MI) (SBT) - Modèle d'entreprise: propositions de valeur

Solutions bancaires personnalisées pour les entreprises locales

Au quatrième trimestre 2023, Sterling Bancorp a offert des services bancaires commerciaux spécialisés avec un portefeuille de prêts commerciaux total de 1,47 milliard de dollars. La banque a fourni des solutions financières ciblées pour les petites et moyennes entreprises (PME) dans le Michigan.

Segment d'entreprise	Valeur du portefeuille de prêts	Taille moyenne du prêt
Immobilier commercial	892 millions de dollars	3,2 millions de dollars
Fonds de roulement des entreprises	578 millions de dollars	$425,000

Taux d'intérêt concurrentiels sur les prêts et les dépôts

Sterling Bancorp a maintenu des taux d'intérêt concurrentiels dans ses offres de produits:

• Taux d'intérêt des prêts commerciaux: 5,75% - 8,25%
• Taux hypothécaires commerciaux: 6,25% - 7,50%
• Taux de compte d'épargne d'entreprise: 2,35% - 3,15%
• Taux de compte de chèque d'entreprise: 1,25% - 2,00%

Services financiers réactifs et flexibles

La banque a traité en moyenne 672 demandes de prêt commercial mensuellement, avec un taux d'approbation de 78%. Le temps de traitement des prêts typique était de 5 à 7 jours ouvrables.

Approche bancaire axée sur la communauté

Sterling Bancorp a maintenu 97% de ses activités de prêt au Michigan, avec une concentration concentrée sur les marchés du sud-est du Michigan.

Distribution des prêts géographiques	Pourcentage
Comté de Wayne	42%
Comté d'Oakland	35%
Comté de Macomb	20%

Traitement des prêts rapides et efficaces

Sterling Bancorp a démontré un traitement efficace des prêts avec les mesures suivantes:

• Temps d'approbation du prêt moyen: 4,8 jours
• Taux d'achèvement de l'application numérique: 62%
• Adoption des services bancaires en ligne: 73% des clients commerciaux

Sterling Bancorp, Inc. (Southfield, MI) (SBT) - Modèle d'entreprise: relations avec les clients

Interactions bancaires personnelles directes

En 2024, Sterling Bancorp maintient 15 emplacements de succursales physiques à travers le Michigan. Les mesures d'interaction client comprennent:

Type d'interaction	Fréquence mensuelle moyenne
Visites en branche	3 750 clients
Consultations de banquiers personnels	1 275 interactions

Plateformes bancaires en ligne et mobiles

Statistiques de l'engagement des banques numériques:

• Utilisateurs de la banque mobile: 42 500
• Banque en ligne Comptes actifs: 68 300
• Application mobile Utilisateurs actifs mensuels: 35 750

Gestionnaires de relations dédiées

Structure de gestion des relations:

Segment de clientèle	Managers dévoués
Banque commerciale	22 gestionnaires de relations
Individus à haute nette	8 gestionnaires spécialisés

Programmes d'engagement communautaire

Métriques d'interaction communautaire:

• Événements locaux de l'éducation financière: 36 par an
• Commanditaires communautaires: 24 organisations locales
• Investissement total de la communauté: 375 000 $ en 2023

Services de consultation financière personnalisés

Répartition des services de consultation:

Type de consultation	Volume annuel
Consultations en gestion de patrimoine	1,850
Sessions de stratégie de banque d'affaires	620
Réunions de planification financière personnelles	2,400

Sterling Bancorp, Inc. (Southfield, MI) (SBT) - Modèle d'entreprise: canaux

Implices de succursales bancaires physiques

En 2023, Sterling Bancorp, Inc. exploite 22 Implétations de succursales bancaires totales, principalement concentré dans le Michigan.

Type d'emplacement	Nombre de branches	Focus géographique primaire
Metro Detroit	18	Southeastern Michigan
Lieux de banlieue	4	Comtés d'Oakland et de Macomb

Site Web de banque en ligne

Sterling Bancorp fournit des services bancaires numériques via sa plate-forme en ligne sécurisée.

• Site Web: sterling.bank
• Utilisateurs bancaires en ligne: 42 365 au Q4 2023
• Volume de transaction numérique: 1,2 million de transactions par an

Application bancaire mobile

L'application mobile de la banque offre des services bancaires complets.

Métriques d'application mobile	2023 données
Téléchargements totaux d'applications mobiles	27,843
Utilisateurs actifs mensuels	19,672

Assistance bancaire téléphonique

Support client 24/7 avec des opérations de centre d'appels dédiées.

• Temps de réponse moyen de l'appel: 2,5 minutes
• Volume d'appel annuel: 156 000 interactions client
• Langues de soutien: anglais, espagnol

Réseau ATM

Sterling Bancorp fournit un accès client via plusieurs canaux ATM.

Détails du réseau ATM	Quantité
MAT propriétaires	34
ATM du réseau partagé	287
Points d'accès ATM total	321

Sterling Bancorp, Inc. (Southfield, MI) (SBT) - Modèle d'entreprise: segments de clientèle

Petites et moyennes entreprises du Michigan

Nombre total de PME servies: 1 247

Segment de l'industrie	Nombre d'entreprises	Portefeuille de prêts totaux
Fabrication	312	47,3 millions de dollars
Vente au détail	276	38,6 millions de dollars
Services professionnels	419	62,1 millions de dollars

Investisseurs immobiliers commerciaux locaux

Prêts immobiliers commerciaux totaux: 214,5 millions de dollars

• Taille moyenne du prêt: 3,2 millions de dollars
• Nombre de clients des investisseurs immobiliers actifs: 67
• Types de propriétés: bureau, vente au détail, industriel

Clients bancaires de détail individuels

Total des clients bancaires au détail: 42 586

Type de client	Nombre de comptes	Solde moyen du compte
Vérification personnelle	28,392	$7,845
Comptes d'épargne	14,194	$12,563

Fournisseurs de services professionnels

Clients de services professionnels totaux: 532

• Professionnels juridiques: 187
• Cabinets comptables: 213
• Fournisseurs de soins de santé: 132

Entités municipales et gouvernementales locales

Relations bancaires municipales totales: 24

Type d'entité	Nombre de clients	Portfolio bancaire municipal total
Gouvernements municipaux	12	89,7 millions de dollars
Agences de comté	8	42,3 millions de dollars
Districts scolaires	4	23,5 millions de dollars

Sterling Bancorp, Inc. (Southfield, MI) (SBT) - Modèle d'entreprise: Structure des coûts

Salaires et avantages sociaux des employés

En ce qui concerne le rapport annuel de Sterling Bancorp en 2022, les frais totaux de rémunération des employés étaient de 43,7 millions de dollars. Cela comprend:

Catégorie de dépenses	Montant ($)
Salaires de base	31,200,000
Bonus de performance	5,600,000
Avantages sociaux	4,300,000
Contributions à la retraite	2,600,000

Maintenance de la technologie et des infrastructures numériques

Les coûts d'infrastructure technologique pour 2022 ont totalisé 12,5 millions de dollars, comprenant:

• Systèmes bancaires de base: 5 800 000 $
• Infrastructure de cybersécurité: 3 200 000 $
• Plateformes bancaires numériques: 2 100 000 $
• Prise en charge informatique et maintenance: 1 400 000 $

Succursale des dépenses opérationnelles

Les coûts opérationnels totaux liés à la succursale en 2022 étaient de 8,9 millions de dollars:

Catégorie de coûts opérationnels	Montant ($)
Loyer et services publics	4,600,000
Équipement de succursale	1,900,000
Entretien et réparations	1,400,000
Sécurité des succursales	1,000,000

Coûts de conformité réglementaire

Les dépenses de conformité pour 2022 s'élevaient à 6,3 millions de dollars:

• Conseil juridique et réglementaire: 2 700 000 $
• Logiciel et systèmes de conformité: 1 800 000 $
• Formation et documentation: 1 200 000 $
• Frais d'audit externe: 600 000 $

Frais de marketing et d'acquisition des clients

Les dépenses de marketing en 2022 ont totalisé 5,6 millions de dollars:

Canal de marketing	Montant ($)
Marketing numérique	2,400,000
Publicité médiatique traditionnelle	1,700,000
Parrainages communautaires	900,000
Programmes de référence client	600,000

Sterling Bancorp, Inc. (Southfield, MI) (SBT) - Modèle d'entreprise: Strots de revenus

Revenu des intérêts des prêts commerciaux

Pour l'exercice 2023, Sterling Bancorp a déclaré 68,3 millions de dollars de revenus d'intérêts nets des portefeuilles de prêts commerciaux.

Catégorie de prêt	Solde total des prêts	Taux d'intérêt moyen
Immobilier commercial	412,6 millions de dollars	5.75%
Commercial & Prêts industriels	287,4 millions de dollars	6.22%

Frais de prêt hypothécaire

Les frais de prêt hypothécaire ont généré 14,2 millions de dollars de revenus pour Sterling Bancorp en 2023.

• Frais d'origine: 9,6 millions de dollars
• Frais de refinancement: 4,6 millions de dollars

Frais de service de compte de dépôt

Les frais de service sur les comptes de dépôt ont totalisé 7,5 millions de dollars en 2023.

Type de compte	Revenus de frais de service
Comptes chèques	4,3 millions de dollars
Comptes d'épargne	2,1 millions de dollars
Comptes de marché monétaire	1,1 million de dollars

Commissions de produits d'investissement

Les commissions de produits d'investissement ont atteint 5,8 millions de dollars en 2023.

• Commissions de gestion de la patrimoine: 3,6 millions de dollars
• Services de courtage: 2,2 millions de dollars

Frais de transaction bancaire numérique

Les frais de transaction bancaire numérique s'élevaient à 3,4 millions de dollars en 2023.

Service numérique	Revenus de frais de transaction
Transactions bancaires en ligne	2,1 millions de dollars
Transactions bancaires mobiles	1,3 million de dollars

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.