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Sterling Bancorp (DE) | 8.375% Cumulative Trust Preferred Securities (STL.PRA)

This preferred is marked as having been called.
Prospectus excerpt:  Sterling Bancorp Trust I is offering 2,200,000 preferred securities at $10 per preferred security. Sterling Bancorp Trust I will purchase 8.375% subordinated debentures of Sterling Bancorp using the proceeds from its offering of the preferred securities. The subordinated debentures have the same payment terms as the preferred securities.

Full Prospectus PDF », STL Page »

Alternate symbology:STL-A, STL-PA, STLprA
Call Date:3/31/2007 (Now Trading Post Call Date)
Maturity Date:3/31/2032
Shares Offered:2,200,000
Liquidation Preference:$10
Recent Market Price:$26.04
Premium to Liquidation Preference:
(More Preferreds Trading at a Premium »)
$16.04 (160.40%)
Annualized Dividend:1.625
Recent Ex-Date:12/28/2017
Current Yield:6.24%
Original Coupon:8.38%
Pay Period:Quarterly
Pay Dates:31-Mar, 30-Jun, 30-Sep, 31-Dec
Sterling is a bank holding company and financial holding company. Through its principal subsidiary, Sterling National Bank, Co. operates as a regional bank providing a range of deposit, lending and wealth management products to commercial, consumer and municipal clients in its market area within the New York Metro Market, which includes Manhattan and Long Island; and the New York Suburban Market, which includes Rockland, Orange, Sullivan, Ulster, Putnam and Westchester counties in New York and Bergen County in New Jersey. As of Dec 31 2016, Co. had total assets of $14.18 billion and total deposits of $10.07 billion.

Preferred: STL.PRA

Open the STL Information Page »
Name:  Sterling Bancorp (DE)
Sector:  Banking & Savings
Number of ETFs Holding STL:  46 (see which ones)
Total Market Value Held by ETFs:  $786,997,840
Total Market Capitalization:  $5,371,000,000
% of Market Cap. Held by ETFs:  14.65%

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