SBT - Sterling Bancorp sells Quantum

QCM, LLC, doing business as Quantum Capital Management, an indirect wholly-owned subsidiary of Sterling Bancorp (SBT) has entered into an Asset Purchase Agreement to sell substantially all of its assets.The closing of the transaction is expected before year-end. Mr. Peter Sinatra, CEO of Quantum has resigned from the company's Board of Directors and the Bank’s Board of Directors, effective immediately, as well as his resignation from all other positions with Quantum, the company, the bank, and each of their subsidiaries and affiliates, will be effective upon the closing of the transaction.Press release

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Sterling Bancorp sells Quantum