Sterling National Bank, the principal subsidiary of Sterling Bancorp (NYSE: STL), has been ranked #36 in Forbes magazine's annual ranking of America's Best Banks, a rise from #87 in 2016's rankings, reflecting the success of the bank's growth strategy. The annual list gauges the financial condition of each of America's 100 largest banks and thrifts by assets, and is based on a combination of 10 key metrics related to growth, profitability, capital adequacy and asset quality.
"Our place in this year's rankings is a testament to the success of the growth plan we put in place five years ago," said Jack Kopnisky, President and Chief Executive Officer of Sterling. "Since 2011, we've been focused on strategically transforming ourselves into a highly diversified regional bank, and we've seen the results in growth of assets, loans, and deposits, as well as earnings increases, which have grown from $7.9 million to $145.5 million."
Read the full press release to learn more about Sterling National Bank's position in Forbes magazine's America's Best Banks list..