Sterling Bancorp (Sterling Bancorp) Effective Interest Rate on Debt % : 116.55% (As of Mar. 2024)

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What is Sterling Bancorp Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. Sterling Bancorp's annualized positive value of Interest Expense for the quarter that ended in Mar. 2024 was $73.39 Mil. Sterling Bancorp's average total debt for the quarter that ended in Mar. 2024 was $62.97 Mil. Therefore, Sterling Bancorp's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 was 116.55%.

Sterling Bancorp Effective Interest Rate on Debt % Historical Data

The historical data trend for Sterling Bancorp's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Sterling Bancorp Effective Interest Rate on Debt % Chart

Sterling Bancorp Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Effective Interest Rate on Debt %

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16.18

12.70

7.94

11.55

63.81

Sterling Bancorp Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Effective Interest Rate on Debt %	Get a 7-Day Free Trial															35.92	47.36	70.08	113.29	116.55

Competitive Comparison of Sterling Bancorp's Effective Interest Rate on Debt %

For the Banks - Regional subindustry, Sterling Bancorp's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Sterling Bancorp's Effective Interest Rate on Debt % Distribution in the Banks Industry

For the Banks industry and Financial Services sector, Sterling Bancorp's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Sterling Bancorp's Effective Interest Rate on Debt % falls into.

Sterling Bancorp Effective Interest Rate on Debt % Calculation

Sterling Bancorp's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Dec. 2022 )	+	Total Debt (A: Dec. 2023 ))	/ count )
=	-1 * -61.83	/	( (131.261	+	62.537)	/ 2 )
=	-1 * -61.83	/	96.899
=	63.81 %

where

	Total Debt (A: Dec. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	131.261	+	0
=	131.261

	Total Debt (A: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	62.537	+	0
=	62.537

Sterling Bancorp's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Dec. 2023 )	+	Total Debt (Q: Mar. 2024 ))	/ count )
=	-1 * -73.392	/	( (62.537	+	63.407)	/ 2 )
=	-1 * -73.392	/	62.972
=	116.55 %

where

	Total Debt (Q: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	62.537	+	0
=	62.537

	Total Debt (Q: Mar. 2024 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	63.407	+	0
=	63.407

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Mar. 2024) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

Sterling Bancorp (NAS:SBT) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.

Sterling Bancorp Effective Interest Rate on Debt % Related Terms

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Sterling Bancorp (Sterling Bancorp) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Sterling Bancorp Inc (NAS:SBT) » Definitions » Effective Interest Rate on Debt %

Comparable Companies

Traded in Other Exchanges

N/A

Address

One Towne Square, Suite 1900, Southfield, MI, USA, 48076

Website

https://www.sterlingbank.com

Sterling Bancorp Inc is a unitary savings and loan holding company. Its primary business is the operation of its wholly-owned subsidiary, Sterling Bank, through which it offers a range of loan products to the residential and commercial markets, as well as retail banking services. The products and services offered by the bank include saving and current accounts, demand and term deposits, payment cards, trade finance, fund transfer, treasury and cash management. It provides services such as construction loans, residential real estate, commercial real estate, commercial lines of credit and other consumer loans.

Executives

Elizabeth M. Keogh	officer: Chief Legal Officer	STERLING BANCORP, INC., ONE TOWNE SQUARE, SUITE 1900, SOUTHFIELD MI 48076
Eboh Duke Okorie	director	100 VAN REYPEN STREET, JERSEY CITY NJ 07306
Michael Donahue	director	C/O STERLING BANCORP, INC., ONE TOWNE SQUARE, SUITE 1900, SOUTHFIELD MI 48076
Erwin A. Rubenstein	10 percent owner	C/O STERLING BANCORP, INC., ONE TOWNE SQUARE, SUITE 1900, SOUTHFIELD MI 48076
Karen Knott	officer: EVP and CFO	ONE TOWNE SQUARE, SUITE 1900, SOUTHFIELD MI 48076
Thomas M Obrien	officer: CHIEF EXECUTIVE OFFICER	C/O STATE BANK OF LONG ISLAND, 2 JERICHO PLAZA, JERICHO NY 11753
John Thomas Macfarlane	10 percent owner	151 S. OLD WOODWARD AVE., STE. 200, BIRMINGHAM MI 48009
Christine Meredith	officer: CHIEF RISK OFFICER	ONE TOWNE SQUARE, SUITE 1900, SOUTHFIELD MI 48076
Kimmel Colleen	officer: GEN COUNSEL & CORP SECRETARY	ONE TOWNE SQUARE, SUITE 1900, SOUTHFIELD MI 48076
Steve Huber	officer: CHIEF FINANCIAL OFFICER	ONE TOWNE SQUARE, SUITE 1900, SOUTHFIELD MI 48076
Tracey A Dedrick	director	C/O HUDSON CITY BANCORP, INC., PARAMUS NJ 07652
Peggy Daitch	director	ONE TOWNE SQUARE, SUITE 1900, SOUTHFIELD MI 48076
Denny Kim	director	C/O WL ROSS GROUP, L.P., 1166 AVENUE OF THE AMERICAS, NEW YORK NY 10036
Steven E. Gallotta	director	ONE TOWNE SQUARE, SUITE 1900, SOUTHFIELD MI 48076
Harry S. Stern	10 percent owner	220 MONTGOMERY STREET, 15TH FLOOR, SAN FRANCISCO CA 94104