secwatch.observer — SEC 8-K summary
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Issuer:     Sterling Bancorp, Inc. (—)
CIK:        0001680379
Form:       8-K
Filed at:   2025-04-01T23:59:59+00:00
Accession:  0001104659-25-030586
Event type: m_and_a
Sentiment:  positive
Materiality: 1.00
Item codes: 2.01, 3.01, 3.03, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sterling Bancorp closes $261M sale of bank to EverBank; announces $4.85/share liquidating distribution
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- Received $261M cash for sale of all shares of Sterling Bank and Trust to EverBank, effective April 1, 2025.
- Declared initial liquidating distribution of $4.85 per share (~$252M) payable April 8, 2025 to holders of record April 1, 2025.
- Thomas O'Brien stepped down as Chairman, President and CEO; remains on Board; Steven Gallotta appointed Board Chairman.
- Common stock delisted from Nasdaq; company filed Form 25 and expects to file Form 15 to suspend SEC reporting.
- Resignations of directors Daitch, Dedrick, Wineman, Okorie; Knott and Meredith stay as consultants with monthly fees.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1680379/000110465925030586/0001104659-25-030586-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1680379/000110465925030586/tm2510964d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-030586

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