SBT - Sterling Bancorp to divest Washington branch office to First Federal

Sterling Bancorp ([[SBT]] -5.1%) has entered into a definitive agreement to sell its Bellevue, Washington branch office to First Federal Savings & Loan Association of Port Angeles, a Washington state chartered bank.The sale is inclusive of all branch premises and equipment; transfer of deposit accounts with a total ~balance of $77.7M, and the buyer's intention to offer employment to all associated staff.The deal is expected to close in first half of 2021.Financial terms of the deal have not been disclosed.

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Sterling Bancorp to divest Washington branch office to First Federal