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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 | | Redeemable?: | Yes | | Call Date: | 3/31/2007 (Now Trading Post Call Date) | | Maturity Date: | 3/31/2032 | | Cumulative?: | Yes | | Shares Offered: | 2,200,000 | | Overallotment: | 300,000 | | Liquidation Preference: | $10 | | Original Coupon: | 8.38% | | Pay Period: | Quarterly | | Pay Dates: | 31-Mar, 30-Jun, 30-Sep, 31-Dec | | CDx3 Compliance Rating: |
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Sterling Bancorp is a bank holding company and financial holding company. Through its subsidiary, Sterling National Bank (the Bank), Co. provides a line of commercial, business, and consumer banking products and services. Co. conducts substantially all of its operations through the Bank. The Bank's principal business is accepting deposits and, together with funds generated from operations and borrowings, investing in various types of loans and securities. The Bank also operates its commercial finance businesses, which target markets across U.S. and includes asset-based lending, payroll financing, factoring, warehouse lending, equipment financing, and public sector financing. Preferred: STL.PRA
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