Sterling Bancorp, Inc. (Southfield, MI) (SBT): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Mergulhe no plano estratégico da Sterling Bancorp, Inc., uma instituição financeira dinâmica aninhada no coração de Southfield, Michigan, que redefine o banco regional por meio de um modelo de negócios meticulosamente criado. Essa abordagem inovadora combina serviços financeiros personalizados, tecnologia digital de ponta e um profundo compromisso com os ecossistemas de negócios locais, posicionando o SBT como participante fundamental no cenário bancário competitivo de Michigan. Desde soluções de empréstimos personalizados até estratégias focadas na comunidade, o modelo de negócios da Sterling Bancorp Canvas revela uma estrutura sofisticada projetada para oferecer valor excepcional a pequenas empresas, investidores imobiliários e clientes individuais.

Sterling Bancorp, Inc. (Southfield, MI) (SBT) - Modelo de Negócios: Principais Parcerias

Associações de negócios locais e regionais em Michigan

A Sterling Bancorp mantém parcerias estratégicas com as seguintes associações de negócios de Michigan:

Nome da associação	Detalhes da parceria	Ano estabelecido
Associação de Banqueiros de Michigan	Membro ativo desde 2012	2012
Câmara Regional de Detroit	Parceria de rede de negócios	2015

Promotores imobiliários comerciais

As principais parcerias de desenvolvimento imobiliário comercial incluem:

Desenvolvedor	Portfólio total de empréstimos	Ano de parceria
Grupo de Desenvolvimento de Southfield	US $ 42,3 milhões	2018
Metro Detroit Properties LLC	US $ 35,7 milhões	2019

Redes corporativas pequenas e médias

Enterprise Network Partnerships:

• Michigan Small Business Development Center
• Rede de empreendedores do sudeste de Michigan
• Centro de Negócios do Condado de Oakland

Provedores de serviços de tecnologia financeira (FinTech)

Parcerias e integração da Fintech:

Provedor de fintech	Tipo de serviço	Ano de integração
Fiserv	Plataforma bancária principal	2017
Jack Henry & Associados	Soluções bancárias digitais	2019

Intermediários de hipoteca e empréstimos

Estatísticas de parceria em empréstimos:

Intermediário	Volume total de empréstimos	Duração da parceria
Quicken empréstimos	US $ 127,6 milhões	2016-presente
Flagstar Bank	US $ 93,4 milhões	2017-presente

Sterling Bancorp, Inc. (Southfield, MI) (SBT) - Modelo de negócios: Atividades -chave

Serviços bancários comerciais e de varejo

Portfólio de empréstimos comerciais totais: US $ 1,62 bilhão (Q4 2023)

Categoria de empréstimo	Volume total
Imóveis comerciais	US $ 872 milhões
Comercial & Empréstimos industriais	US $ 748 milhões

Empréstimos para pequenas empresas

Origenas de empréstimos para pequenas empresas: US $ 214 milhões em 2023

• Tamanho médio de empréstimo para pequenas empresas: US $ 156.000
• Taxa de aprovação do empréstimo: 62,3%
• Número de clientes de pequenas empresas: 4.327

Gerenciamento de conta de depósito e investimento

Total de depósitos: US $ 2,37 bilhões (Q4 2023)

Tipo de depósito	Volume total
Contas de verificação	US $ 876 milhões
Contas de poupança	US $ 643 milhões
Contas do mercado monetário	US $ 512 milhões
Certificados de depósito	US $ 339 milhões

Desenvolvimento da plataforma bancária digital

Usuários do Banco Digital: 78.500

• Downloads de aplicativos bancários móveis: 42.300
• Transações bancárias online por mês: 1,2 milhão
• Investimento bancário digital: US $ 4,7 milhões em 2023

Gerenciamento de riscos e consultoria financeira

Orçamento de gerenciamento de riscos: US $ 6,2 milhões em 2023

Categoria de gerenciamento de riscos	Alocação
Gerenciamento de risco de crédito	US $ 2,8 milhões
Gerenciamento de riscos de conformidade	US $ 1,9 milhão
Gerenciamento de riscos operacionais	US $ 1,5 milhão

Sterling Bancorp, Inc. (Southfield, MI) (SBT) - Modelo de negócios: Recursos -chave

Forte infraestrutura bancária regional em Michigan

Total de ativos a partir do terceiro trimestre 2023: US $ 3,51 bilhões

Métrica de infraestrutura	Valor
Total de agências bancárias	32 locais
Cobertura geográfica	Southeastern Michigan
Total de funcionários	441 funcionários em tempo integral

Equipe de gestão financeira experiente

Composição de liderança sênior:

• PRODIÇÃO EXECUTIVO MÉDIA: 18 anos em bancos
• Total de compensação executiva em 2022: US $ 4,2 milhões
• CEO Gary Torgow - mais de 30 anos de experiência bancária

Sistemas de tecnologia bancária digital

Investimento em tecnologia	Quantia
Gastos anuais de TI	US $ 7,3 milhões
Usuários bancários móveis	48.000 usuários ativos
Plataforma bancária online	Sistema baseado em nuvem

Base de depósito do cliente

Total de depósitos a partir do terceiro trimestre 2023: US $ 3,01 bilhões

• Contas de corrente: US $ 879 milhões
• Contas de poupança: US $ 612 milhões
• Contas do mercado monetário: US $ 438 milhões

Rede de ramificação física

Localização da filial	Número de ramificações
Southfield	8 ramos
Área de Metro Detroit	24 ramos
Tamanho médio da ramificação	3.200 pés quadrados.

Sterling Bancorp, Inc. (Southfield, MI) (SBT) - Modelo de Negócios: Proposições de Valor

Soluções bancárias personalizadas para empresas locais

No quarto trimestre 2023, a Sterling Bancorp ofereceu serviços bancários comerciais especializados com uma carteira total de empréstimos comerciais de US $ 1,47 bilhão. O banco forneceu soluções financeiras direcionadas para pequenas e médias empresas (PMEs) em Michigan.

Segmento de negócios	Valor da carteira de empréstimos	Tamanho médio do empréstimo
Imóveis comerciais	US $ 892 milhões	US $ 3,2 milhões
Capital de giro comercial	US $ 578 milhões	$425,000

Taxas de juros competitivas em empréstimos e depósitos

A Sterling Bancorp manteve as taxas de juros competitivas em suas ofertas de produtos:

• Taxas de juros de empréstimos comerciais: 5,75% - 8,25%
• Taxas de hipoteca comercial: 6,25% - 7,50%
• Taxas de conta de poupança de negócios: 2,35% - 3,15%
• Taxas de conta de verificação de negócios: 1,25% - 2,00%

Serviços financeiros responsivos e flexíveis

O banco processou uma média de 672 pedidos de empréstimos comerciais mensalmente, com uma taxa de aprovação de 78%. O tempo típico de processamento de empréstimos foi de 5 a 7 dias úteis.

Abordagem bancária focada na comunidade

Sterling Bancorp mantido 97% de suas atividades de empréstimo em Michigan, com um foco concentrado nos mercados do sudeste de Michigan.

Distribuição de empréstimos geográficos	Percentagem
Wayne County	42%
Condado de Oakland	35%
Condado de Macomb	20%

Processamento de empréstimo rápido e eficiente

Sterling Bancorp demonstrou processamento eficiente de empréstimos com as seguintes métricas:

• Tempo médio de aprovação do empréstimo: 4,8 dias
• Taxa de conclusão de aplicativos digitais: 62%
• Adoção bancária on -line: 73% dos clientes comerciais

Sterling Bancorp, Inc. (Southfield, MI) (SBT) - Modelo de Negócios: Relacionamentos ao Cliente

Interações bancárias pessoais diretas

A partir de 2024, a Sterling Bancorp mantém 15 locais de filiais físicas em Michigan. As métricas de interação do cliente incluem:

Tipo de interação	Frequência mensal média
Visitas no ramo	3.750 clientes
Consultas de banqueiro pessoal	1.275 interações

Plataformas bancárias online e móveis

Estatísticas de engajamento bancário digital:

• Usuários bancários móveis: 42.500
• Contas ativas bancárias on -line: 68.300
• Usuários ativos mensais do aplicativo móvel: 35.750

Gerentes de relacionamento dedicados

Estrutura de gerenciamento de relacionamento:

Segmento de clientes	Gerentes dedicados
Bancos comerciais	22 gerentes de relacionamento
Indivíduos de alta rede	8 gerentes especializados

Programas de envolvimento da comunidade

Métricas de interação comunitária:

• Eventos de educação financeira local: 36 anualmente
• Patrocínio comunitário: 24 organizações locais
• Investimento total da comunidade: US $ 375.000 em 2023

Serviços de consulta financeira personalizados

Redução do serviço de consulta:

Tipo de consulta	Volume anual
Consultas de gerenciamento de patrimônio	1,850
Sessões de estratégia bancária de negócios	620
Reuniões de planejamento financeiro pessoal	2,400

Sterling Bancorp, Inc. (Southfield, MI) (SBT) - Modelo de Negócios: Canais

Locais da agência bancária física

A partir de 2023, a Sterling Bancorp, Inc. opera 22 Locais totais da agência bancária, concentrado principalmente em Michigan.

Tipo de localização	Número de ramificações	Foco geográfico primário
Metro Detroit	18	Southeastern Michigan
Locais suburbanos	4	Condados de Oakland e Macomb

Site bancário online

A Sterling Bancorp fornece serviços bancários digitais por meio de sua plataforma on -line segura.

• Site: Sterling.bank
• Usuários bancários on -line: 42.365 a partir do quarto trimestre 2023
• Volume de transação digital: 1,2 milhão de transações anualmente

Aplicativo bancário móvel

O aplicativo móvel do banco oferece serviços bancários abrangentes.

Métricas de aplicativos móveis	2023 dados
Downloads de aplicativos móveis totais	27,843
Usuários ativos mensais	19,672

Suporte bancário por telefone

Suporte ao cliente 24 horas por dia, 7 dias por semana com operações dedicadas de call center.

• Tempo médio de resposta de chamada: 2,5 minutos
• Volume anual de chamada: 156.000 interações com os clientes
• Idiomas de suporte: inglês, espanhol

Rede ATM

O Sterling Bancorp fornece acesso ao cliente através de vários canais de caixa eletrônico.

Detalhes da rede ATM	Quantidade
Caixas eletrônicos proprietários	34
Caixas eletrônicos de rede compartilhada	287
Pontos de acesso a caixas eletrônicos totais	321

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

Pequenas e médias empresas em Michigan

Número total de SMBs servidos: 1.247

Segmento da indústria	Número de negócios	Portfólio total de empréstimos
Fabricação	312	US $ 47,3 milhões
Varejo	276	US $ 38,6 milhões
Serviços profissionais	419	US $ 62,1 milhões

Investidores imobiliários comerciais locais

Empréstimos imobiliários comerciais totais: US $ 214,5 milhões

• Tamanho médio do empréstimo: US $ 3,2 milhões
• Número de clientes ativos de investidores imobiliários: 67
• Tipos de propriedades: escritório, varejo, industrial

Clientes bancários de varejo individuais

Total de clientes bancários de varejo: 42.586

Tipo de cliente	Número de contas	Saldo médio da conta
Verificação pessoal	28,392	$7,845
Contas de poupança	14,194	$12,563

Provedores de serviços profissionais

Total de Serviço Profissional Clientes: 532

• Profissionais jurídicos: 187
• Empresas de contabilidade: 213
• Provedores de saúde: 132

Entidades municipais e governamentais locais

Relações bancárias municipais totais: 24

Tipo de entidade	Número de clientes	Portfólio bancário municipal total
Governos da cidade	12	US $ 89,7 milhões
Agências do condado	8	US $ 42,3 milhões
Distritos escolares	4	US $ 23,5 milhões

Sterling Bancorp, Inc. (Southfield, MI) (SBT) - Modelo de negócios: estrutura de custos

Salários e benefícios dos funcionários

Até o relatório anual de 2022 do Sterling Bancorp, as despesas totais de remuneração dos funcionários foram de US $ 43,7 milhões. Isso inclui:

Categoria de despesa	Valor ($)
Salários da base	31,200,000
Bônus de desempenho	5,600,000
Benefícios de saúde	4,300,000
Contribuições de aposentadoria	2,600,000

Manutenção de tecnologia e infraestrutura digital

Os custos de infraestrutura de tecnologia para 2022 totalizaram US $ 12,5 milhões, compreendendo:

• Sistemas bancários principais: US $ 5.800.000
• Infraestrutura de segurança cibernética: US $ 3.200.000
• Plataformas bancárias digitais: US $ 2.100.000
• Suporte e manutenção de TI: US $ 1.400.000

Despesas operacionais de ramificação

Os custos operacionais totais relacionados à filial em 2022 foram de US $ 8,9 milhões:

Categoria de custo operacional	Valor ($)
Aluguel e utilitários	4,600,000
Equipamento de ramificação	1,900,000
Manutenção e reparos	1,400,000
Segurança da filial	1,000,000

Custos de conformidade regulatória

As despesas de conformidade em 2022 totalizaram US $ 6,3 milhões:

• Consultoria legal e regulatória: US $ 2.700.000
• Software e sistemas de conformidade: US $ 1.800.000
• Treinamento e documentação: US $ 1.200.000
• Taxas de auditoria externa: $ 600.000

Despesas de marketing e aquisição de clientes

As despesas de marketing em 2022 totalizaram US $ 5,6 milhões:

Canal de marketing	Valor ($)
Marketing digital	2,400,000
Publicidade tradicional da mídia	1,700,000
Patrocínio da comunidade	900,000
Programas de referência ao cliente	600,000

Sterling Bancorp, Inc. (Southfield, MI) (SBT) - Modelo de negócios: fluxos de receita

Receita de juros de empréstimos comerciais

Para o ano fiscal de 2023, a Sterling Bancorp registrou US $ 68,3 milhões em receita de juros líquidos de carteiras de empréstimos comerciais.

Categoria de empréstimo	Saldo total de empréstimo	Taxa de juros média
Imóveis comerciais	US $ 412,6 milhões	5.75%
Comercial & Empréstimos industriais	US $ 287,4 milhões	6.22%

Taxas de empréstimos hipotecários

As taxas de empréstimos hipotecários geraram US $ 14,2 milhões em receita para a Sterling Bancorp em 2023.

• Taxas de originação: US $ 9,6 milhões
• Taxas de refinanciamento: US $ 4,6 milhões

Cobranças de serviço da conta de depósito

As cobranças de serviço em contas de depósito totalizaram US $ 7,5 milhões em 2023.

Tipo de conta	Receita de taxa de serviço
Contas de verificação	US $ 4,3 milhões
Contas de poupança	US $ 2,1 milhões
Contas do mercado monetário	US $ 1,1 milhão

Comissões de produtos de investimento

As comissões de produtos de investimento atingiram US $ 5,8 milhões em 2023.

• Comissões de gestão de patrimônio: US $ 3,6 milhões
• Serviços de corretagem: US $ 2,2 milhões

Taxas de transação bancária digital

As taxas de transação bancária digital totalizaram US $ 3,4 milhões em 2023.

Serviço digital	Receita da taxa de transação
Transações bancárias online	US $ 2,1 milhões
Transações bancárias móveis	US $ 1,3 milhão

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.