SBT - SEC concludes investigation into Sterling Bancorp shares rise

2023-06-22 16:39:28 ET

Sterling Bancorp ( NASDAQ: SBT ) said on Thursday that the U.S. SEC had ended its investigation into the company.

The holding company of Sterling Bank and Trust received a letter on Thursday informing it that the SEC had concluded its investigation into the company, and the SEC did not intend to recommend an enforcement action against Sterling.

Sterling shares rose 2.8% in after hours trading.

The SEC investigation was in regards to the company's, "accounting, financial reporting and disclosure matters, as well as the Company’s internal controls, related to the Company’s now-terminated Advantage Loan Program."

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