Sterling National Bank
Sterling National Bank reported total assets of $29.6 bn at Q4 2021, its last Call Report before it merged into Webster Bank, National Association. Its common equity tier 1 ratio was 15.00%, and an estimated 47.02% of domestic deposits were uninsured. Source: FDIC Call Report data, cross-checked against FFIEC filings.
- Uninsured share of domestic deposits: up 1.38 pp on Q3 2021, to 47.02%
- Total deposits: down 4.9% on Q3 2021, to $23.0 bn
- Common equity tier 1 (CET1) ratio: up 0.48 pp on Q3 2021, to 15.00%
Ranks compare banks in our US coverage that report each metric. Sparklines: the last ten years. Source: FDIC BankFind Suite (Call Report data), cross-checked against FFIEC Call Report filings. Calculations: EconoMonitor.
Overview
What stands out about Sterling National Bank?
Its largest one-quarter change in total assets since Q1 2016 was +81.2% between Q3 2017 and Q4 2017, when it absorbed Astoria Bank. Against its six size peers, its uninsured share of domestic deposits stands out most: 47.02% at Q4 2021, above the peer median of 19.86%.
How large is Sterling National Bank?
At Q4 2021 the bank held $29.6 bn of assets. Deposits were $23.0 bn and net loans and leases $21.1 bn, a loan-to-deposit ratio of 91.84%. Securities of $4.4 bn made up 15.0% of assets.
Total assets rose 130.4% between Q1 2016 and Q4 2021, from $12.8 bn.
How much of its funding is uninsured?
An estimated 47.02% of domestic deposits were above the FDIC insurance limit at Q4 2021, +1.38 pp from the previous quarter and +0.87 pp from a year earlier.
Key facts, Q4 2021
| Metric | Value | Change from a year earlier | US rank |
|---|---|---|---|
| Total assets | $29.6 bn | -0.6% | |
| Total deposits | $23.0 bn | -1.5% | |
| Net loans and leases | $21.1 bn | -2.1% | |
| Bank equity capital | $5.2 bn | +6.6% | |
| Common equity tier 1 (CET1) ratio | 15.00% | +1.62 pp | |
| Tier 1 leverage ratio | 12.75% | +1.42 pp | |
| Return on equity (ROE) | 8.89% | +3.35 pp | |
| Net interest margin | 3.45% | +0.11 pp | |
| Uninsured share of domestic deposits | 47.02% | +0.87 pp | |
| Unrealized gain/loss on held-to-maturity securities | Gain of $103.1 mn | Fell by $29.0 mn | |
| Noncurrent loans to total loans | 0.73% | -0.03 pp | |
| Net charge-offs to average loans | 0.21% | -0.35 pp |
US rank: rank among the banks in our coverage reporting each metric, 1 = highest unless marked 1 = lowest.
Balance sheet
Total assets, deposits and net loans, quarterly, Q1 2016 to Q4 2021. Dashed amber lines mark the merger or acquisition listed under Mergers and acquisitions.
- Total assets $29.6bn
- Deposits $23.0bn
- Net loans $21.1bn
Capital and securities
The common equity tier 1 (CET1) ratio was 15.00% at Q4 2021, +1.62 pp from a year earlier. Since Q1 2016 it has ranged from 10.42% (Q3 2016) to 15.00% (Q4 2021). At Q4 2021 the tier 1 leverage ratio was 12.75% and the total risk-based capital ratio 15.65%. The median CET1 ratio of the size peers listed below was 15.70% at Q4 2021.
Held-to-maturity securities had an unrealized gain of $103.1 mn at Q4 2021, measured as fair value minus amortized cost, equal to 2.0% of bank equity capital. The gain fell by $29.0 mn from a year earlier. The largest unrealized loss on these securities was $96.6 mn at Q3 2018. Available-for-sale securities showed an unrealized gain of $57.1 mn at Q4 2021; the gain fell by $58.4 mn from a year earlier.
Capital ratios
- Total capital 16%
- CET1 15%
- Tier 1 leverage 13%
Unrealized gains and losses on securities
- Available for sale $57mn
- Held to maturity $103mn
Profitability and loan quality
Return on equity was 8.89% for the year to Q4 2021, annualized, with a return on assets of 1.51% and a net interest margin of 3.45%. The margin was +0.11 pp from a year earlier. The efficiency ratio, noninterest expense as a share of revenue as the FDIC defines it, was 43.80%. Net income for the year to Q4 2021 was $446.3 mn, up 72.7% on the same period a year earlier. The median return on equity of its size peers was 14.01% for the same period.
Noncurrent loans, those 90 days or more past due or no longer accruing interest, were 0.73% of total loans at Q4 2021. Net charge-offs for the year to date were 0.21% of average loans, annualized.
Profitability
- Return on equity 8.9%
- Net interest margin 3.5%
- Return on assets 1.5%
Compared with banks of similar size
The six banks ranked closest to Sterling National Bank by total assets at Q4 2021, three above and three below where possible.
Among the seven banks in the table at Q4 2021, Sterling National Bank is 4th by total assets. Its CET1 ratio of 15.00% compares with a peer median of 15.70%, its tier 1 leverage ratio of 12.75% compares with a peer median of 11.04%, and its return on equity of 8.89% compares with a peer median of 14.01%.
| Bank | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|
| MidFirst Bank | $32.1 bn | 17.62% | 31.93% | 30.49% | |
| Columbia Bank | $30.6 bn | 12.03% | 14.76% | 42.40% | |
| TD Bank USA | $29.7 bn | 30.11% | 13.26% | 1.98% | |
| Sterling National Bank | $29.6 bn | 15.00% | 8.89% | 47.02% | |
| Barclays Bank Delaware | $29.4 bn | 17.28% | 8.93% | 9.23% | |
| United Bank | $29.3 bn | 13.64% | 8.17% | 41.93% | |
| Sallie Mae Bank | $29.2 bn | 14.12% | 50.11% | 6.13% | |
Q4 2021. Peer median (the six banks, excluding this one): CET1 15.70%, return on equity 14.01%. Source: FDIC BankFind Suite (Call Report data), cross-checked against FFIEC Call Report filings. Calculations: EconoMonitor.
Last eight quarters
Sterling National Bank, as reported in its Call Reports.
From Q1 2020 to Q4 2021, total assets fell 2.3% to $29.6 bn, deposits rose 0.2% to $23.0 bn and bank equity capital rose 14.5% to $5.2 bn. Over the same period its full-time equivalent staff went from 1,619 to 1,439 and its offices went from 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 |
| Common equity tier 1 (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 |
Source: FDIC BankFind Suite (Call Report data), cross-checked against FFIEC Call Report filings. Calculations: EconoMonitor.
Mergers and acquisitions
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
- Total assets changed by +81.2% in the quarter to 2017-12-31: Absorbtion - Without Assistance; Participated in Absorbtion/Consolidation/Merger: acquired from Astoria Bank.
Source: FDIC BankFind API, institution history. Moves of more than 25% in one quarter are checked against that history in our review.
Identifiers and sources
- FDIC certificate
- 30337
- Federal Reserve RSSD ID
- 125471
- Head office
- Pearl River, New York
- Holding company
- STERLING BCORP (as reported to the FDIC)
- Holding company RSSD ID
- 3083291
- EconoMonitor ID
- EMB-US-000089
Frequently asked questions
What were Sterling National Bank's total assets?
$29.6 bn at Q4 2021, according to its Call Report as published by the FDIC.
Is Sterling National Bank the same as its holding company?
No. This page covers the FDIC-insured bank (certificate 30337). Its holding company, STERLING BCORP (as reported to the FDIC), reports separately to the Federal Reserve and, if its shares are listed, to the SEC.
How often is this page updated?
Every quarter, after Sterling National Bank files its Call Report and the FDIC publishes it. This page shows Q4 2021, loaded on 19 October 2026; any sentence that uses an earlier quarter names it.
Where can I check these numbers?
In the FDIC BankFind Suite record for certificate 30337, and in the Call Reports filed under RSSD ID 125471 at the FFIEC Central Data Repository.
Sources and definitions
Definitions, Call Report fields and formulas for each metric: Bank equity capital, Uses community bank leverage ratio framework, Common equity tier 1 (CET1) ratio, Deposits in domestic offices, Efficiency ratio, Full-time equivalent employees, Loan-to-deposit ratio, Total loans and leases (gross), Net loans and leases, Net charge-offs to average loans, Net income (year to date), Net interest margin, Noncurrent loans to total loans, Number of offices, Return on assets (ROA), Return on equity (ROE), Available-for-sale securities (amortized cost), Available-for-sale securities (fair value), Held-to-maturity securities (amortized cost), Held-to-maturity securities (fair value), Total securities, Tier 1 leverage ratio, Total assets, Total deposits, Total equity capital, Total risk-based capital ratio, Uninsured share of domestic deposits, Estimated uninsured deposits, Unrealized gain/loss on available-for-sale securities, Unrealized gain/loss on held-to-maturity securities.
Checks for this release: Check A (database against the FDIC download) passed, Check B (FDIC against FFIEC Call Report filings) passed.
Source: FDIC BankFind Suite (Call Report data). EconoMonitor is not affiliated with or endorsed by the FDIC. FDIC BankFind Suite API.
Source: FFIEC Central Data Repository (Call Reports). EconoMonitor is not affiliated with or endorsed by the FFIEC. FFIEC Central Data Repository, Public Data Distribution.
Data and analysis only, not financial advice. The FDIC and the FFIEC do not endorse EconoMonitor. See the disclaimer and methodology.