Frequently Asked Questions

Domestic Incoming Wire Instructions

1. Bank information

• ABA/routing number: 121081872
• Sterling Bank & Trust FSB
  One Towne Square, Suite 1900
  Southfield, MI 48076
• Account number required

International Incoming Wire Instructions

1. Intermediary/send through bank

• Pacific Coast Bankers' Bank
  Walnut Creek, CA 94596
• SWIFT CODE: PCBBUS66
• ABA/routing number: 121042484

2. Final destination bank

• Sterling Bank & Trust FSB
  One Towne Square, Suite 1900
  Southfield, MI 48076
• Account number: 272471849

3. Beneficiary information

• Beneficiary name
• Beneficiary address
• Beneficiary account number

Deposits held by Sterling Bank & Trust are FDIC insured, subject to FDIC limitations. Our FDIC insurance certificate number is 32232.

Tax documents will be only available to the primary account holder. The joint account holder will not receive the tax document(s) even if they are enrolled.

Your tax document(s) will be available for 24 months.

No, previous year's tax documents are not available and you will only be able to see the tax form(s) for the tax years after you enroll.

You will have to log into online banking, visit the electronic statements page (ESI), and select your account(s) for enrollment to get your tax document(s).You will need to make sure you have enrolled all your deposit accounts in eStatements in order to see your tax document(s) online. If you only enroll one account, then you will only see one account represented in your tax document. The account not enrolled will be mailed the tax document.

No, if you choose electronic delivery for your tax document(s), you will no longer receive a paper statement. You can print a copy of the form from the eStatement screen. If you are not an online banking user, you will continue to receive a paper statement.

Go to Sterlingbank.com and select "Not enrolled? Sign up now >" under the login button, then follow the directions to enroll.

You must be enrolled in online banking and eStatements by December 31st of the current tax year to receive your tax documents electronically.

1099-INT and 1098 document(s) are issued based on guidelines established by the IRS. (For example: If your account does not receive at least $10 in interest, you will not receive a 1099-INT form.) You should review the IRS guidelines to see if they apply to your specific financial situation. Document(s) are available for download at the end of January and should arrive by mid-February.

We take your financial security very seriously. This is not an optional service. It greatly minimizes fraud risk thereby protecting your assets in our bank. We respect your time and believe that a brief confirmation phone call is worth it to protect your account. It is much better to spend this time protecting your funds than the time it will take to reverse the damage done from fraudulent activity on your accounts.

You may purchase a copy of the NACHA Operating Rules or obtain free, limited (read-only) access at www.achrulesonline.org. Visit www.nacha.org or the website of our regional payments association, The Payments Authority, www.thepaymentsauthority.org, for other resources and information.

Activation and enrollment for Online Bill Pay can be done through your Online Banking account:

1. Transactions
2. Bill Payment
3. More Options
4. View Bill Pay Site (you will be directed to a separate site)
5. Follow instructions to register and set up personal security questions

Add a Payee:

1. Transactions
2. Bill Payment
3. More Options
4. Add A Payee

If you have questions about these online security features, please use the Secure Messaging feature within Online Banking, contact one of our neighborhood branches, call our Branch Operations Department at 800-944-BANK (2265) or email us at Branch Customer Support.

We take your financial security very seriously. This is not an optional service. It greatly minimizes fraud risk thereby protecting your assets in our bank. We respect your time and believe that a brief confirmation phone call is worth it to protect your account. It is much better to spend this time protecting your funds than the time it will take to reverse the damage done from fraudulent activity on your accounts.

Public Wi-Fi can be an identity trap for an unsuspecting individual. A fraudster can set up a network to make it appear like public Wi-Fi to trick people to log on and enter in personal information. Avoid using public Wi-Fi to make purchases or entering private or financial information. If that's not an option, secure your connection using a Virtual Private Network (VPN). VPN's encrypt your internet traffic preventing hackers from gathering personal information.

Yes. This Online Banking protection is free of charge.

Our security tools build a history of your behavior over the first several months of your presence in our Online Banking system. During this initial period, if you use the services we monitor (ACH origination transactions, domestic wire transfers and external transfers), you may receive higher than normal alerts and confirmation calls until your normal behavior pattern is established.

Transactions that do not fit in your normal Online Banking pattern will need to be reviewed, for example:

1. Drastic changes in the dollar amount of the transaction you are processing
2. A change in the week, day or time of the transaction
3. A change in the recipient of a transaction

These examples are not a complete list of every possible kind of unusual activity. Other patterns of behavior such as login days and times, profile changes and requests for Password resets may also result in a flag for unusual activity and we will resolve those in the same manner as we do the transaction alerts.

If your transaction is flagged for review, you will receive an online alert notification that the transaction requires further review by a bank representative before the transaction can be processed. We will review it and may contact you by phone using the contact information you have provided us. If we contact you, a bank representative will ask you a few questions to confirm you have authorized the transaction; if you have, we'll release the transaction to be processed.

Our tools monitor:

1. ACH Origination Transactions
2. Domestic Wire Transfers
3. External Transfers

Sterling uses these tools to protect you and your money. We can analyze transactions to identify and suspend suspect transactions, giving us the ability to verify that you, and not someone else pretending to be you, initiated a transaction.

Windows® 7 or higher

• Firefox® 93 or higher
• Chrome® 93 or higher
• Edge® 96 (Windows 10 or higher)

Mac® OS 10.9

• Safari® 14.x or higher
• Chrome® 93 or higher

To view your statements online in PDF format, we recommend using Adobe Reader version 6.0 or higher (download Adobe Reader). If you’re having trouble downloading your statements, we recommend trying a different browser.

Yes. On the Adobe Acrobat Reader toolbar, click File, then Save As, and then click the Save button.

New eStatements generate once enrolled and are saved to your Online Banking for 24 months of access. Any statement issued prior to eStatement enrollment will not be available to view electronically.

If there is a need to obtain an old statement, please call our Call Center at 1-800-944-2265 during regular business hours. Fees may apply.

Yes. On the Adobe Acrobat Reader toolbar, click File, then Save As, and then click the Save button.

Yes. On the Adobe Acrobat Reader toolbar, press the printer icon. You can also go to File and then select Print. You can print either the entire statement or just one page.

New eStatements generate once enrolled and are saved to your Online Banking for 24 months of access. Any statement issued prior to eStatement enrollment will not be available to view electronically.

If there is a need to obtain an old statement, please call our Call Center at 1-800-944-2265 during regular business hours. Fees may apply.

To view your eStatement:

1. Go to sterlingbank.com
2. Log-in to Online Banking
3. Select Transactions
4. Select View Statements
5. Choose the filter criteria from the drop-down selections for Account(s), Document Type, and Date Range, then select Filter.
6. Download the statement(s) you wish to view

1. Log into Online Banking
2. Select View Statements from the Transactions button. Please note: If you have never requested eStatements before, an eStatement enrollment screen will appear which requires you to enroll in ESI statements.
3. Under option 1, click the highlighted word "details" to review all of your accounts eligible for eStatements. Deselect any account(s) you wish to receive a paper statement for then select Save Settings, otherwise select Cancel.
4. Review the email address in option 2 and make any necessary changes.
5. Read the eStatement disclosure in option 3. Use the scroll bar on the right to scroll down to the bottom of the disclosure.
6. Click the highlighted word "here" underneath the disclosure box to view an example of what your statement will look like and to ensure it displays properly.
7. Check the box for "I agree to Listed Terms", then select the Enroll Now button.
8. An enrollment confirmation box will display. Select OK.

• If you are already enrolled in eStatements, select Sign up/Changes then select or deselect which accounts you want enrolled in eStatements and select Save Settings

There is no charge for eStatements.

No. eStatements will take the place of your mailed paper statements.

ESTATEMENTS BENEFITS INCLUDE:

1. It's convenient, you may view or print your eStatements any time you choose
2. It's simple, you will receive an email when your eStatement is ready to view online
3. It's fast, your eStatement is available immediately - with no delays for postal mail time
4. It's secure, your eStatement will not be lost or stolen
5. It's environmentally friendly, and reduces paper waste while saving trees
6. It's free, there is no cost to you

Electronic statement delivery is a quicker, more secure, and greener way to have your statements delivered! eStatements are a replacement for traditional paper statements.

Yes. If you are away from your computer or cannot get on the Internet, you can transfer funds between Sterling accounts, get account information and more. Just call 888-776-BANK (2265) to access your account information, 24 hours a day, 7 days a week.

The initial check order needs to be placed in your branch. Once your initial order is placed, subsequent orders may be done through Online Banking:

• Go to Services
• Click on Check Reorder
• Select the appropriate account checks will be ordered for

You'll be able to view up to the last 365 days of history. Or, you can view up to the last 24 months of eStatements online. If you would like a copy of an older statement, please call Branch Operations at 800-944-BANK (2265) during bank hours or contact your neighborhood branch.

Quicken^® and QuickBooks^® users who are receiving an error (OL-202, OL-231, OL-232, OL-248, OL-249 or OL-297) when using Online Banking can find a resolution at QuickBooks Updates or Quicken Updates. There is a mandatory update to the Quicken^® 99 or higher software for successful export of Online Banking history to your Quicken^® or QuickBooks^® software.

If you prefer to call an Intuit Support Representative, call 800-4INTUIT (446-8848).

Yes, you can export posted transactions from your Online Banking history into all of the above. Click here for easy-to-use instructions.

For your protection, we have limited the number of login attempts to 3. If you have exceeded your 3 attempts, please call 800-944-BANK (2265) during bank hours to have your Online Banking access reset.

To reset your Password or to request a new temporary Password, please call Branch Operations at 800-944-BANK (2265) during bank hours and we will be happy to assist you.Or, if you are attempting to login on our website, follow the instructions by clicking on "Forgot Password".

You may call 800-944-BANK (2265) during normal business hours. You may also email your neighborhood branch for assistance. Additionally, you can contact us at Branch Customer Support and a banker will contact you via email or by phone by the next business day. Or, you can send us a Secure Message from the Messages option located in Online Banking or Mobile Banking.

Keeping our customer information secure is a top priority at SBT Advantage Bank. See our Privacy Policy for details. Sterling takes every precaution to safeguard the information in our customers' accounts.

You will have your own Login ID and Password to access your online account. In order to ensure privacy, you must keep your Password confidential.

If you are a current Sterling customer, you need to first enroll in Online Banking to gain access to your accounts.

‍For personal, deposit accounts and home loans, take advantage of our website's Online Banking enrollment. You will enter the required information and receive a temporary Password. Click here to enroll.

‍For business deposit accounts or loan customers, please visit one of our branches and complete an Online Banking application. Once we process your application, a welcome letter with instructions and your temporary Password will be mailed to you so you may begin using Sterling's Online Banking.

You will need a PC, laptop, tablet or Smart Phone. Click here for system browsers to use. Please see our Security Page for more details.

Voice Banking may be accessed 24 hours a day, 7 days a week.

To obtain your Login ID information, please call Branch Operations at 800-944-BANK (2265) during bank hours.

You will have your own private Password to access Voice Banking. In order to ensure privacy, you must keep your Password confidential.

Voice Banking allows you to obtain account balances, transfer money between Sterling accounts, check the status of a check, verify the last five transactions or deposits in your account, check current interest rates, year-to-date interest earned and more.

Please call 888-776-BANK (2265) and follow the prompts. When calling for the first time, you will need one of your account numbers and the last 4 digits of the primary tax ID number for the account.

888-776-BANK (2265)

You can have interest on dividend payments or any other recurring payments deposited directly into your account.

Direct Deposit is a service that provides for automatic deposit of your paycheck, Social Security check or other recurring payment to you.Direct Deposit continues until you cancel it. You may cancel at any time by contacting your employer or originator of the recurring payment. You'll need the following information:ABA/routing number: 121081872Your account number

Please contact a branch customer service representative to obtain your limit.

You have immediate access to surcharge-free ATMs across the country with Cirrus and MasterCard logos. Keep in mind that not all ATMs participate in these programs, so be sure to look for the logos.Locate an ATM near you by visiting the MasterCard website:https://www.mastercard.ie/en-ie/personal/get-support/find-nearest-atm.html

‍Sterling will reimburse domestic out-of-network ATM surcharge fees that you may incur.

To block or change the status of your ATM/Debit card, please call 800-383-8000.To reorder a new ATM/Debit card, please contact your neighborhood branch.

You should receive your card(s) within 7-10 business days. If you don't receive it after 10 business days, please contact a branch representative.

Complete a Deposit Account Application, which you can pick up from your local branch or request by email. Once completed, return the application to your branch or mail to the address preprinted on the application.

Please call 866-985-2273 and have your account information ready. Once we verify your identity for security purposes, you can select a new, easy-to-remember PIN. After your PIN is changed, you can begin using your debit card right away.

There is no interest incurred when you use your MasterMoney™ Card to purchase goods or services.

To block or change the status of your ATM/Debit card, please call 800-383-8000.To reorder a new ATM/Debit card, please contact your neighborhood branch.

Purchase limits are determined when your application is processed. You will be advised of the limits at that time.

Yes, some merchants may give you cash back privileges.

Cardholders can use their Sterling Bank & Trust MasterMoney™ Card at Cirrus Network ATMs and retailer locations throughout the U.S. And customers with a Sterling Eagle^® Checking account have free ATM usage anywhere in the USA.

After submitting an application to a branch or through the mail, a customer service representative will advise you of your eligibility for the card. If you are approved, the card will be mailed to you in 7-10 business days.

Submit a completed Deposit Account Application for the card either through a branch or by requesting an application through the Sterling website.

You may apply for a MasterMoney™ Debit Card at any time. If you are approved, you will also use it as your ATM card, and your existing ATM card will be deactivated.

A MasterMoney™ Card is a multi-purpose debit card with immediate access to your Sterling checking account for purchases and ATM transactions.

The maturity date is provided on the original document when you open a CD. You will also receive a written notice prior to your CD maturity date. As a courtesy, a Customer Service Representative may contact you by phone prior to the maturity date to notify you of the maturity date of the CD and answer any questions.

When a CD matures, the interest is added to your initial deposit. You may then withdraw the total amount or choose not to withdraw the money. If you choose not to withdraw your funds, the CD will automatically rollover for the same time period, at the interest rate applicable at the time of rollover. The interest rate at the time of rollover may be more or less than the interest at the time the CD was initiated or last rolled over. You may choose, upon the maturity date, to add to or reduce the amount of money in the CD, and then open a new CD for a different length of time.

An interest penalty is applied for any withdrawal prior to the maturity date, except if the withdrawal is required as a result of disability or death of the CD holder.

Money may be added by depositing funds into the account at any time. You may also arrange for direct deposit of your payroll, Social Security check, etc.

You may make up to six (6) withdrawals per statement cycle in any combination of withdrawals to another account of yours or to a third party by Online Banking, Voice Banking, Automated Clearing House (ACH), fax requests, automatic transfers (including payroll transfers and overdraft transfers), check, debit card or similar order. You may make unlimited ATM and personal visit withdrawals.To avoid exceeding this limit, you may wish to make insurance, utility or other recurring payments electronically from your checking account instead of your savings or money market account. You may also consider direct deposit into your checking account and then transfer funds to your savings account as funds are available.

The minimum amount needed to open an MMDA is $500. Also, a minimum balance fee will be imposed each statement cycle if the average account balance falls below $500 on any day during the statement cycle.

Sterling Bank seeks to have a universally accessible web site, based on the World Wide Web Consortium (W3C) Web Content Accessibility Guidelines (WCAG) 2.0, Level AA Standards. Should you have any questions or comments about our accessibility accommodations, please contact us:

by telephone at 800-944-2265;

by email message through the "Contact Us" section of our web site;

or, send us a letter at:

Sterling Bank & Trust FSB

2122 Market Street

San Francisco, California 94114

To add or delete an account or to cancel eDeposit, please call Branch Operations at 800-944-2265 (BANK). You may also visit one of our branch locations or submit a request through Online Banking.

Please call Branch Operations - Monday to Friday 9 AM - 5 PM (PT) or Saturday 10 AM - 2PM (PT) at 800-944-2265 (BANK).

eDeposit provides the following security measures: Login authorization, encryption of locally stored data, Secure Socket Layer (SSL) connection requirement and two-factor authentication. Check images are not stored on your device.

Yes, you will be notified either by the mobile banking app itself or via the App Store when a newer version is available.

Upload times vary, from 5 to 90 seconds, depending on the speed of your connection.

Yes. eDeposit allows you to view the front and back images of checks that were deposited during the previous 30 day period.

eDeposit will analyze the picture of the check and let you know immediately if there is an issue with the quality of the picture. We may request that you retake the picture because there was a problem reading the check. For example, if the picture is missing part of the check due to a folded corner or there was poor lighting, etc.

• Take the picture in an area with good lighting
• Place the check on a surface that will provide a dark background
• Only the check should be viewable in your camera.
• Make sure the check is in focus on your camera. If you are too close to the check it can become blurry.

On supported Apple devices:

1. Log into the Sterling Bank & Trust Mobile Banking app
2. Tap on Settings> Security Preferences
3. Toggle the Touch ID button "On"
4. Review the Touch ID details and click Continue
5. Enter your current Login ID and Password and click Authorize
6. Place the finger or thumb used for your device on the Home button
7. The Touch ID button should now display as "On"
8. Next time you use the app, utilize Touch ID to login

• BAL or BAL <account nickname> - Request account balance
• HIST <account nickname> - Request account history
• XFER <from account nickname> <to account nickname> <amount> - Transfer funds between accounts
• LIST - Receive a list of keywords
• HELP - Receive a list of contact points for information on text banking (for example, your website or phone number)
• STOP - Stop all text messages to the mobile device (for text banking and SMS alerts/notifications)

• Sterling Bank & Trust's short code is 226563. Send all SMS text message Mobile Banking requests to this number.
• You can add 226563 as a contact in your mobile device. When you want to quickly get your balance, you would send Bal or B as a SMS text message to 226563.

SMS stands for Short Messaging Service. It is also called text messaging.

Yes. You can initiate bill payments through Mobile Banking. Please note that you will continue to manage your overall Bill Payment experience (such as adding and deleting bills and changing billers) through Online Banking.

For your security protection, we have an automatic 15 minute time out. After 15 minutes, Sterling Bank & Trust will terminate your session to help protect you against unauthorized access.

Access to your Mobile Banking accounts will end after 15 minutes.

Contact our Branch Operations department at 800-944-BANK (2265) so your mobile access can be disabled.

If you have a new mobile phone number, please log in to your Online Banking account and click Mobile and enter your new mobile phone number. If you have a new mobile carrier, and your phone number hasn't changed, then you don't need to do anything. However, if you have a new mobile phone number with a new mobile carrier, simply enter the new mobile phone number.

Nicknames make it easier for you to recognize which accounts you want to transfer funds between and lookup history for.

Nicknames can be assigned and changed from the Account Option in Online Banking.

Yes, your external accounts will display to provide convenient funds transfer access.

Yes. You can view all accounts through Mobile Banking that you view through Sterling Bank & Trust's Online Banking. We suggest you assign Nicknames to your accounts in Online Banking for easy viewing in Mobile Banking.

For your Sterling Bank & Trust accounts, you can see your account balances, transactions and even transfer funds from one account to another. You can also locate a branch or ATM and even pay your bills.

Yes. We have a variety of FREE Smart Phone Mobile Banking Apps. From your Smart Phone, go to www.sterlingbank.com and download one of our FREE Mobile Banking apps.

• iPhone®, iPodtouch® and iPad® mobile digital device: Click here to download our free app from the iTunes® Store.
• Android™ Application: Click here to download our free app from Google Play™.
• Mobile Phone Browser: Click here.

Yes. Complete the Mobile Enrollment page of your online banking to enable your Smart Phone's browser. Complete the following steps:

1. Log in to your online banking at www.sterlingbank.com.
2. Select Mobile from the Preferences menu.
3. Select "Yes, enable my User ID and Password for use on my mobile device".
4. You will use the same User ID and Password for mobile banking that you do for online banking.
5. And, if you want to use your mobile devices web browser for mobile banking, enter your email address on the same screen and select Send. The URL for mobile banking will be emailed to you mobile device.

Personal and business deposit customers with Online Banking can use Mobile Banking.

As an online banking customer, you'll have access to our mobile banking applications using the same login as your online banking account. To get started, download our app from the iTunes store or Google Play.

There are several ways to access your account information using Mobile Banking: From a mobile browser, SMS text messaging, or one of our Smart Phone Apps.

1. Mobile browser: This is usually included on most mobile phones. Even if you have a browser, you will need to subscribe to a data plan with your carrier. We suggest you contact your carrier if you are not sure what services you have. (Data plan charges may apply.)
2. SMS text messaging: For customers who are accustomed to text messaging with friends and family, you will find this service quick and easy to use. Your mobile phone must be capable of sending and receiving text messages for Mobile Banking to work. If you're unsure of your phone's text messaging capabilities, please check with your mobile provider.
3. From your Smart Phone, go to www.sterlingbank.com and download one of our FREE Mobile Banking apps.

• iPhone®, iPodtouch® and iPad® mobile digital device: Click here to download our free app from the iTunes® Store.
• Android™ Application: Click here to download our free app from Google Play™.
• Mobile Phone Browser: Click here

• You need to be enrolled in Online Banking.
• You need to have a mobile phone capable of sending and receiving SMS or text messages.
• If you plan on using one of our free mobile banking apps, you need to have a mobile phone with a browser and data plan. Text and data plan charges may apply depending on your plan with your mobile carrier.

Mobile banking provides free and secure access to your Sterling Bank & Trust account information right from your mobile phone. You can check balances, make transfers, and look up transactions from your mobile browser, our Apps for mobile digital devices, or from SMS or text messaging.

Yes, you can deposit checks to either your checking or savings account.

Yes, If you have more than 30 checks a month we recommend our remote deposit capture service. Call Branch Operations at 800-944-2265 (BANK) or visit your local branch.

Yes. Deposits can be made to either checking or savings accounts.

Deposits completed prior to 4PM PT will be posted to the account on the same business day. Deposits are subject to verification and are not available for immediate withdrawal.

Keep the check in a secure location for 60 days after depositing the check to your account. Deposits should be verified through online banking or when you receive your monthly statement. Once the deposit is verified, destroy the check by shredding.

On the back side of the check write "Deposit Only", your account number, and then sign the check.

There is no charge from Sterling Bank & Trust. Data charges may apply based on your data plan with your cellular carrier. Please check with your carrier so you will be aware of potential charges.

As an online banking customer, you'll have access to our mobile banking application, including eDeposit, using the same login as your online banking account. To get started, download our app "Sterling Bank & Trust" from the iTunes Store or Google Play.

eDeposit will work on Apple iPhone® (iOS 3.1+), Android™ (models w/ 2+ MP auto-focus camera, OS 2.1.1+). The phone's camera must have a resolution of 2 megapixels or higher.

eDeposit allows you to deposit a single check to your checking or savings account by simply taking a picture of the front and back of the check with a camera-enabled smart phone.

eDeposit allows you to deposit a single check to your checking or savings account by simply taking a picture of the front and back of the check with a camera-enabled smart phone.

Consumer LIBOR-based loans transitioned to a spread-adjusted term Secured Overnight Financing Rate (“Consumer Spread-Adjusted Term SOFR”) as published by London Stock Exchange Group plc (“LSEG”) (formerly branded as Refinitiv)  after LIBOR ended. Consumer Spread-Adjusted Term SOFR is based on the CME Group’s term Secured Overnight Financing Rate (“Term SOFR”) plus a spread adjustment. The spread adjustment is equal to a five-year historical median spread between LIBOR and SOFR, with a portion of the spread adjustment phased in over the course of one year. The spread adjustment is meant to generally equate the two indexes. You can access the consumer fallback rates and the most recent rate history at https://www.lseg.com/en/ftse-russell/benchmarks/usd-ibor-cash-fallbacks/usd-ibor-consumer-cash-fallbacks-sofr-compound-in-advance-summary. The interest rate on your loan was either previously determined by or would be determined at the end of your fixed-rate period by adding the value of either 6-month or 12-month LIBOR and the margin, as further specified in your promissory note. Now that LIBOR is no longer available, Sterling has replaced it with the corresponding tenor of the Consumer Spread-Adjusted Term SOFR as determined by your loan type and promissory note. The new index will be used to calculate future interest rate and payment changes for your loan. The replacement of the LIBOR index will not change other terms of your ARM (Adjustable Rate Mortgage), such as the maximum interest rate you may pay during the term of the loan or the timing of any interest rate adjustments. If your loan is still in its fixed-rate period, you will not see the effect of the new index until your next rate adjustment date.

Sterling Bank and the Alternative Reference Rates Committee (ARRC), believe that the selected indexes represent fair, reasonable and comparable substitute indexes. This LIBOR to SOFR transition approach was also endorsed for loans like yours by the Adjustable Interest Rate (LIBOR) Act of 2021, which was signed into law in March 2022. This transition has been made for you in accordance with the terms of your loan documents and provisions of the LIBOR Act. You don’t need to take any action. If you have any questions on which index and tenor your loan will be transitioned to, you may contact Sterling's Loan Servicing department at 1-800-372-7694.

[1] On November 20, 2023 Refinitiv was rebranded as LSEG and the Consumer Spread-Adjusted Term SOFR rate (previously the Refinitiv USD IBOR Consumer Fallback) was rebranded as the FTSE USD IBOR Consumer Cash Fallback.

London Interbank Offered Rate – a benchmark interest rate set in London each business day for multiple currencies. This rate is often used as an index in adjustable rate consumer mortgage (ARM) loans that is added to a defined margin to calculate the interest rate on scheduled adjustment dates.

We expect to close in the first quarter of 2025, subject to approvals from Sterling Bancorp’s
shareholders and EverBank’s regulators. As stated above, Sterling will continue to operate as
an independent organization during the period leading up to closing.

‍

EverBank is a $40 billion bank headquartered in Jacksonville, Florida. It is owned primarily by several private equity funds, and its shares are not publicly traded. EverBank’s retail deposit business is currently conducted primarily online, and it has been seeking a stable branch network to diversify and expand funding sources, especially in California where a portion of its senior management team is already located.  The Sterling branch network fits those needs very well. You can learn more about EverBank at https://www.everbank.com/

‍

Yes, as stated above, until the closing all banking activity at Sterling remains the same and you should continue to use your existing checks and ATM or debit card.

‍

Yes, there will be no branch changes prior to closing and EverBank has indicated that they plan to operate all of Sterling’s branches in California and New York.

‍

For customers who bank at Sterling’s Michigan branch, please watch for important mail from Sterling within the next few weeks. This mailing will update you on what actions you may take with your account prior to closing as EverBank will not operate the Michigan branch. The Michigan Branch will cease operations by the closing date.

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Yes, please continue making your loan payments in the same manner as before.  There will be no change in handling loan payments before the closing date.

‍

As stated above, Sterling and EverBank continue to operate completely separately until the closing date.  If you have overlapping accounts that can impact future FDIC coverage, you will be informed of any impact prior to any change taking effect. Under the terms of FDIC coverage, deposits at Sterling and EverBank will be separately insured for six months following the closing date.

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Following the closing date, EverBank will operate the branches in California and New York with full FDIC insurance. Yes, you will receive additional information about what to expect after the closing well in advance of the closing date.  

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All information regarding the acquisition will be posted here.  Please continue to reach out to the Sterling team members at your current branch for questions about your accounts or your FDIC insurance coverage.

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All information regarding the transaction with EverBank and Sterling Bancorp is available through the public filings of Sterling Bancorp and can be found on the Investor Relations page of Sterling’s website at https://investors.sterlingbank.com

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