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Letter portraitLegal landscapeQuarterYTD

Sterling Bank and Trust, F.S.B.

Southfield, MI · Cert 32232

FDIC · 27 branches

Q1 2025

$2.3BAssets
$740.9MLoans
$2.0BDeposits
$292.4MEquity
Deposit mix
98%Interest-bearing $1.9B2%Noninterest $0.0BQ2 2023Q1 2025

Market Position · San Francisco-Oakland-Fremont, CA · 2024 SOD (annual) · 0.3% share · #18 of 69 inst. · $1.5B of $440.9B

0.4% San Francisco
0.1% Los Angeles
0.7% San Mateo
0.1% Alameda

Executive Summary

  • Earnings: ROA of -6.29%, down 644 bps year over year; NIM at 2.72%.
  • Asset quality: problem loans at 1.35% of loans (+63 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 12.09%, down 149 bps from a year ago.
  • Funding: loans stand at 37.37% of deposits as of Q1 2025.

Return on Assets (quarter, annualized)

-6.29%-644 bps YoY

Net Interest Margin (quarter, annualized)

2.72%+25 bps YoY

Efficiency Ratio (quarter, annualized)

n/a

Tier 1 Leverage Ratio

12.09%-149 bps YoY

NIM

4.78%Q1 ’235.50%Q1 ’245.69%Q1 ’25-22%+10%

Non-interest income vs. expense

3.02%Q1 ’232.30%Q1 ’243.59%Q1 ’25-24%+387%

Discrete quarter, annualized.

MetricQ2 2023Q3 2023Q4 2023Q1 2024Q2 2024Q3 2024Q4 2024Q1 2025YoY ΔTrend
Earnings
Return on Assets0.89%0.21%0.57%0.15%0.43%0.19%0.53%-6.29%-644 bps
Return on Equity6.31%1.71%4.47%1.12%3.24%1.43%4.01%-48.27%-4,939 bps
Net Interest Margin2.87%2.61%2.46%2.47%2.39%2.24%2.18%2.72%+25 bps
Efficiency Ratio75.65%98.95%99.06%91.67%89.15%100.19%97.61%n/an/a
Non-Interest Burden2.09%2.57%2.43%2.25%2.12%2.24%2.13%10.99%+873 bps
Growth
Asset Growth (YoY)1.11%0.12%-1.14%0.16%-6.16%-0.80%0.36%-4.79%-494 bps
Loan Growth (YoY)-16.93%-16.13%-19.03%-18.03%-14.89%-13.61%-14.32%-43.17%-2,514 bps
Deposit Growth (YoY)6.04%4.20%2.23%4.01%-5.77%0.67%2.56%-1.82%-582 bps
Asset Quality
Nonperforming Loans / Loans0.14%0.44%0.67%0.72%0.97%1.08%1.26%1.35%+63 bps
Net Charge-Offs / Loans-0.11%0.00%-0.02%0.00%-0.14%0.00%0.00%0.00%0 bps
Allowance / Loans2.43%2.42%2.18%2.24%2.18%2.04%1.80%2.83%+59 bps
Allowance Coverage of NPLs17.3x5.5x3.3x3.1x2.3x1.9x1.4x2.1x-1.0x
Capital
Tier 1 Leverage Ratio12.91%12.93%13.38%13.58%13.81%13.72%13.76%12.09%-149 bps
Total Risk-Based Capital12.91%12.93%13.38%13.58%13.81%13.72%13.76%12.09%-149 bps
Equity / Assets12.03%12.42%12.98%13.03%13.39%13.27%13.34%12.72%-31 bps
Liquidity & Funding
Loans / Deposits69.02%68.71%66.68%64.56%62.34%58.96%55.71%37.37%-2,719 bps
Liquid Assets / Assets25.72%22.87%23.93%26.77%25.26%28.77%35.54%53.27%+2,649 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a