EverBank to buy Michigan’s Sterling Bank for $261M
Summary by bankingdive.com
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EverBank Agrees to Acquire Michigan-based Sterling Bank for $261M
SOUTHFIELD, MICH. AND JACKSONVILLE, FLA. — Southfield-based Sterling Bancorp Inc. (NASDAQ: SBT), the holding company of Sterling Bank and Trust FSB, has entered into a definitive agreement to sell all of its shares to Jacksonville-based EverBank Financial Corp. for $261 million. The sale is subject to customary closing conditions, including regulatory approvals and approval by Sterling’s shareholders. Sterling’s board of directors has unanimousl…
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