SBT - Sterling Bancorp slides after Q4 bottom-line miss

Sterling Bancorp's ([[SBT]] -0.9%) Q3 GAAP EPS of -$0.23 misses consensus by $0.24. Results highlights: Revenue of $25.74M (-20.4% Y/Y) beats by $0.54M.Net interest margin of 2.51%. Provision for loan losses $27.6M, increasing the allowance for loan losses to 2.89% of total loans held for investment ($2.507B); full year provision for loan losses of $54.9M.Total deposits of $3.099B.Total loan originations of $51.6M.At the year end, nonperforming assets stood at $114.3M or 2.92% of total assets, an increase from $98.3M, or 2.50% of total assets from the prior quarter.Q4 non-interest expense of $14.9M.Bank capital ratios continue to be in excess of minimum ratios required with a leverage ratio of 9.20%, a total risk-based capital ratio of 21.56% and a common equity tier one ratio of 20.27%.Leverage ratio at 8.08%.GAAP EPS of -$0.23 misses by $0.24."The company increased the allowance for loan losses to a level that reflects management’s analysis of the increased credit weakness in the legacy loan book. The

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Sterling Bancorp slides after Q4 bottom-line miss