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-Sterling National Bank to acquire certain loans and leases from Santander Bank

Oct 09, 2019 - Global Banking News
Mergers and Acquisitions

Global Banking News - 09 October 2019

Sterling Bancorp (NYSE: STL) has said that its principal subsidiary, Sterling National Bank, has signed a definitive agreement to acquire a portfolio of middle market commercial equipment finance loans and leases from Santander Bank, N. A.

The balance of loans and leases outstanding to be acquired was USD843.0m as of September 30, 2019. The portfolio has a weighted average tax-equivalent yield of nearly 4.3 percent and consists mainly of f...