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Park Sterling Corp

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2017 10-Q, filed Nov 3, 2017. Its latest SEC filing is a SC 13G/A from Feb 9, 2018.

The sections below describe the company as of the FY2016 annual report.

What Did They Do?

Provides deposit, lending and wealth-management services to businesses, property owners and consumers in its markets.

How Did They Make Money?

FY2016 revenue

Who Were Their Customers?

Its branches and offices serve people and organizations doing business or living in its target markets.

Did Revenues Turn Into Profits?

Yes. It kept 17 cents of every revenue dollar as net income in FY2016 and turned 26 cents into free cash flow.

Net income, FY2016
17% of revenue
▲ +20% vs FY2015 ($16.6M, 19%)
Free cash flow, FY2016
26% of revenue
▼ −22% vs FY2015 ($39.4M, 44%)

How Were They Changing?

Since the FY2016 annual report
Latest quarter: Q3 FY2017, the three months to Sep 30, 2017
Revenue
▲ +10%
vs $29.4M in Q3 FY2016
Net income
▲ +37%
vs $6.3M in Q3 FY2016
  • Dec 1, 2017 South State completed its merger with Park Sterling Park Sterling Bank also merged into South State Bank, and Park Sterling shares converted into South State shares.

Grew. Revenue grew 40% in 2 years, from $85.3M in FY2014 to $119.5M in FY2016, about 18% a year.

Virginia branch presence The earlier report described a Richmond loan production office in Virginia; the latest describes full-service branches there, extending the company’s local banking presence.

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