Sterling National Bank (merged into Webster Bank)
Sterling National Bank reported total assets of $29.6 bn at Q4 2021, its last Call Report before it merged into Webster Bank. The CET1 capital ratio at Sterling National Bank was 15.00%, and the uninsured share of Sterling National Bank was 47.02%. Source: FDIC Call Reports.
Key takeaways
- Since , Sterling National Bank has taken over one institution; the latest was Astoria Bank on (FDIC Call Reports).
What sets Sterling National Bank apart
How large is Sterling National Bank?
The balance sheet of Sterling National Bank at : assets $29.6 bn, deposits $23.0 bn, net loans $21.1 bn (loans equal to 91.84% of deposits). Securities make up 15.0% of total assets at Sterling National Bank. Since , when Sterling National Bank held $12.8 bn, its assets grew 130.4%. In the year to , deposits at Sterling National Bank fell 1.5% while its total assets fell 0.6%. At , Sterling National Bank employed 1,439 full-time equivalent staff across 74 offices, about $20.5 mn of assets per employee and $310.3 mn of deposits per office.
How much funding at Sterling National Bank is uninsured?
At Sterling National Bank, uninsured deposits (above the FDIC limit) made up 47.02% of domestic deposits at (+0.87 pp on a year earlier). In dollars, Sterling National Bank estimated $10.8 bn of uninsured deposits.
Key facts, Q4 2021
| Metric | Value | A year earlier | US rank |
|---|---|---|---|
| Total deposits | $23.0 bn | $23.3 bn (Q4 2020) | |
| Net loans and leases | $21.1 bn | $21.5 bn (Q4 2020) | |
| Loan-to-deposit ratio | 91.84% | 92.39% (Q4 2020) | |
| Tier 1 leverage ratio | 12.75% | 11.33% (Q4 2020) | |
| Total risk-based capital ratio | 15.65% | 14.73% (Q4 2020) | |
| Net interest margin | 3.45% | 3.34% (Q4 2020) | |
| Return on assets (ROA) | 1.51% | 0.85% (Q4 2020) | |
| Efficiency ratio | 43.80% | 45.00% (Q4 2020) | |
| Unrealized gain/loss on held-to-maturity securities | Gain of $103.1 mn | Fell by $29.0 mn | |
| Unrealized gain/loss on available-for-sale securities | Gain of $57.1 mn | Fell by $58.4 mn | |
| Noncurrent loans to total loans | 0.73% | 0.76% (Q4 2020) | |
| Net charge-offs to average loans | 0.21% | 0.56% (Q4 2020) |
US rank of Sterling National Bank: 1 = highest unless marked 1 = lowest.
Balance sheet
Sterling National Bank: assets, deposits and loans
- Total assets $29.6bn
- Deposits $23.0bn
- Net loans $21.1bn
Capital and securities
The CET1 ratio of Sterling National Bank stood at 15.00% in , +1.62 pp year on year. Low and high at Sterling National Bank since : 10.42% () to 15.00% (). Equity capital of Sterling National Bank at : $5.2 bn, or 17.6% of total assets. Sterling National Bank also reported a total capital ratio of 15.65% for , and a tier 1 leverage ratio of 12.75%.
On held-to-maturity securities, Sterling National Bank carried an unrealized gain of $103.1 mn at , equal to 2.0% of equity capital. The gain fell by $29.0 mn over the year. Its deepest point: $96.6 mn in . The available-for-sale portfolio of Sterling National Bank showed an unrealized gain of $57.1 mn at ; the gain fell by $58.4 mn over the year.
Sterling National Bank: capital ratios
- Total capital 16%
- CET1 15%
- Tier 1 leverage 13%
Sterling National Bank: unrealized securities gains and losses
- Available for sale $57mn
- Held to maturity $103mn
Profitability and loan quality
For the year to , Sterling National Bank earned a return on equity of 8.89%; return on assets: 1.51%. Net interest margin at Sterling National Bank: 3.45%, +0.11 pp in a year. Sterling National Bank net income: $446.3 mn, up 72.7% year on year. The efficiency ratio of Sterling National Bank was 43.80%: about 44 cents cost per revenue dollar, against 57 cents at the median peer.
At , noncurrent loans were 0.73% of total loans at Sterling National Bank; net charge-offs: 0.21% of average loans. Gross loans and leases at Sterling National Bank: $21.4 bn at , against $21.9 bn at .
Sterling National Bank: profitability
- Return on equity 8.9%
- Net interest margin 3.5%
- Return on assets 1.5%
Peer group of Sterling National Bank
The peer group of Sterling National Bank is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 1 shares the charter type of Sterling National Bank (national bank) and 0 have head offices in New York. Against them, Sterling National Bank shows CET1 ratio 15.00% against a peer median of 15.70%, return on equity 8.89% against a peer median of 14.01% and uninsured deposit share 47.02% against a peer median of 19.86%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| MidFirst Bank | Federal savings bank | OK | $32.1 bn | 17.62% | 31.93% | 30.49% | |
| Columbia Bank | State nonmember bank | OR | $30.6 bn | 12.03% | 14.76% | 42.40% | |
| TD Bank USA | National bank | DE | $29.7 bn | 30.11% | 13.26% | 1.98% | |
| Sterling National Bank | National bank | NY | $29.6 bn | 15.00% | 8.89% | 47.02% | |
| Barclays Bank Delaware | State nonmember bank | DE | $29.4 bn | 17.28% | 8.93% | 9.23% | |
| United Bank | State member bank | VA | $29.3 bn | 13.64% | 8.17% | 41.93% | |
| Sallie Mae Bank | State nonmember bank | UT | $29.2 bn | 14.12% | 50.11% | 6.13% | |
. FDIC Call Reports.
Last eight quarters
Two years at Sterling National Bank, to : assets $30.3 bn to $29.6 bn, deposits $22.9 bn to $23.0 bn, equity $4.5 bn to $5.2 bn. Staff 1,619 to 1,439; offices 80 to 74.
| Metric | Q1 2020 | Q2 2020 | Q3 2020 | Q4 2020 | Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $30.3 bn | $30.8 bn | $30.5 bn | $29.7 bn | $29.8 bn | $29.1 bn | $29.9 bn | $29.6 bn |
| Total deposits | $22.9 bn | $23.8 bn | $24.4 bn | $23.3 bn | $24.0 bn | $23.3 bn | $24.1 bn | $23.0 bn |
| Bank equity capital | $4.5 bn | $4.6 bn | $4.7 bn | $4.9 bn | $4.9 bn | $5.0 bn | $5.1 bn | $5.2 bn |
| CET1 ratio | 12.19% | 12.24% | 12.55% | 13.38% | 14.04% | 14.44% | 14.52% | 15.00% |
| Return on equity (ROE) | 2.02% | 3.54% | 5.03% | 5.54% | 8.92% | 8.81% | 8.65% | 8.89% |
| Uninsured share of domestic deposits | 45.06% | 45.92% | 48.30% | 46.16% | 47.25% | 48.37% | 45.65% | 47.02% |
| Full-time equivalent employees | 1,619 | 1,617 | 1,466 | 1,460 | 1,457 | 1,491 | 1,460 | 1,439 |
| Number of offices | 80 | 80 | 80 | 78 | 76 | 74 | 74 | 74 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of Sterling National Bank, oldest first; figures before and after each event are not like for like.
- . Absorbed Astoria Bank (FDIC certificate 29805).
- . Merged into Webster Bank, National Association (FDIC certificate 18221).
Large one-quarter moves at Sterling National Bank
- Total assets at Sterling National Bank changed by +81.2% in the quarter to 2017-12-31: Absorbtion - Without Assistance; Participated in Absorbtion/Consolidation/Merger: acquired from Astoria Bank.
Questions and identifiers
What were the total assets of Sterling National Bank?
Sterling National Bank reported $29.6 bn at in its Call Report.
Is Sterling National Bank the same as its holding company?
No. This page covers Sterling National Bank, FDIC certificate 30337; STERLING BCORP (as reported to the FDIC), its holding company, reports separately to the Federal Reserve.
Is Sterling National Bank profitable?
Sterling National Bank reported net income of $446.3 mn for the year to ; annualized return on equity: 8.89%. So yes: Sterling National Bank made a profit over these months.
When is data for Sterling National Bank next updated?
Sterling National Bank no longer files Call Reports; its data ends at .
Where can I check the figures for Sterling National Bank?
In the FDIC BankFind Suite record for certificate 30337, and in the Call Reports of Sterling National Bank (RSSD ID 125471) at the FFIEC Central Data Repository.