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NY-based Sterling Bancorp repays $220M of FHLB advances

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NY-based Sterling Bancorp repays $220M of FHLB advances

Montebello, N.Y.-based Sterling Bancorp said April 26 that a highlight for thethree months ended March 31 was the repayment of $220.0 million of Federal HomeLoan Bank advances with a weighted average rate of 4.17%.

The company said net income for the quarter was $23.8million, or 18 cents per share, compared to $16.8 million, or 19 cents pershare, for the first quarter of 2015.