The Federal Reserve Administration confirmed the purchase of Sterling Bank and Guven, Everbank Finance of the FSB

Sterling Bancorp (Nasdaq:Sbt), Sterling Bank and Trust, FSB, Friday, announced the receipt receipt approval The bank’s Everbank Financial Corp. from the federal reserve system for sale of all of the capital fund and sales of prominent shares.

In connection with the sale, the company will receive $ 261 million in cash in a cash purchase agreement by the company, which dated 15 September 2024.