$SBT
Sterling Bancorp Inc

2023 Q2 Form 10-Q Financial Statement

#000110465923058257 Filed on May 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $31.56M $29.42M
YoY Change 37.88% 18.08%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $341.0K $352.0K
YoY Change -13.89% -9.97%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $15.38M $11.75M
YoY Change 349.59% 222.19%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $3.656M -$557.0K
YoY Change 223.54% -107.38%
Income Tax $1.117M -$54.00K
% Of Pretax Income 30.55%
Net Earnings $2.539M -$503.0K
YoY Change -215.57% -109.56%
Net Earnings / Revenue 8.04% -1.71%
Basic Earnings Per Share $0.05 -$0.01
Diluted Earnings Per Share $0.05 -$0.01
COMMON SHARES
Basic Shares Outstanding 50.79M 50.83M
Diluted Shares Outstanding 50.78M 50.44M

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $655.4M $419.2M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $18.88M $20.06M
YoY Change 175.63% 180.73%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $18.54M $20.07M
YoY Change -15.84% -3.83%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $2.532B $2.412B
YoY Change 1.13% -14.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $57.61M $58.96M
YoY Change 17.73% 12.9%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $57.61M $58.96M
YoY Change 17.73% 12.9%
LONG-TERM LIABILITIES
Long-Term Debt $65.23M $65.25M
YoY Change -0.11% -0.11%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $65.23M $65.25M
YoY Change -0.11% -0.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $57.61M $58.96M
Total Long-Term Liabilities $65.23M $65.25M
Total Liabilities $2.214B $2.096B
YoY Change 2.11% -15.06%
SHAREHOLDERS EQUITY
Retained Earnings $236.6M $234.0M
YoY Change -5.86% -7.67%
Common Stock $99.42M $98.20M
YoY Change 1.86% 1.93%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $317.7M $315.5M
YoY Change
Total Liabilities & Shareholders Equity $2.532B $2.412B
YoY Change 1.13% -14.15%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $2.539M -$503.0K
YoY Change -215.57% -109.56%
Depreciation, Depletion And Amortization $341.0K $352.0K
YoY Change -13.89% -9.97%
Cash From Operating Activities $3.993M -$3.473M
YoY Change -10.25% -389.9%
INVESTING ACTIVITIES
Capital Expenditures $64.00K $190.0K
YoY Change -164.0% 66.67%
Acquisitions
YoY Change
Other Investing Activities $112.7M $75.37M
YoY Change 25.1% -44.43%
Cash From Investing Activities $112.7M $75.18M
YoY Change 25.17% -44.52%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 119.5M -32.29M
YoY Change -140.37% -47.62%
NET CHANGE
Cash From Operating Activities 3.993M -3.473M
Cash From Investing Activities 112.7M 75.18M
Cash From Financing Activities 119.5M -32.29M
Net Change In Cash 236.2M 39.42M
YoY Change -217.16% -47.49%
FREE CASH FLOW
Cash From Operating Activities $3.993M -$3.473M
Capital Expenditures $64.00K $190.0K
Free Cash Flow $3.929M -$3.663M
YoY Change -13.63% -437.92%

Facts In Submission

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CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
5260000
CY2022Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
84000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
146000
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-7543000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
341406000
CY2022Q1 us-gaap Proceeds From Sale Of Federal Home Loan Bank Stock
ProceedsFromSaleOfFederalHomeLoanBankStock
2662000
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
190000
CY2023Q1 sbt Payments For Origination Of Loans Held For Sale Net Of Repayments
PaymentsForOriginationOfLoansHeldForSaleNetOfRepayments
-70008000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
312627000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-503000
CY2023Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
75000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
173000
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
2786000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
315510000
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-503000
CY2022Q1 us-gaap Profit Loss
ProfitLoss
5260000
CY2023Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
674000
CY2022Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
-4289000
CY2023Q1 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-2394000
CY2022Q1 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-3494000
CY2023Q1 us-gaap Debt And Equity Securities Gain Loss
DebtAndEquitySecuritiesGainLoss
-2000
CY2023Q1 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
71000
CY2022Q1 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-236000
CY2023Q1 sbt Investment Securities Available For Sale Amortization And Accretion Net
InvestmentSecuritiesAvailableForSaleAmortizationAndAccretionNet
491000
CY2022Q1 sbt Investment Securities Available For Sale Amortization And Accretion Net
InvestmentSecuritiesAvailableForSaleAmortizationAndAccretionNet
-86000
CY2023Q1 sbt Depreciation And Amortization Of Leasehold Improvements And Equipment
DepreciationAndAmortizationOfLeaseholdImprovementsAndEquipment
352000
CY2022Q1 sbt Depreciation And Amortization Of Leasehold Improvements And Equipment
DepreciationAndAmortizationOfLeaseholdImprovementsAndEquipment
391000
CY2023Q1 sbt Payments For Origination Net Of Proceeds From Principal Payments Of Mortgage Loans Held For Sale
PaymentsForOriginationNetOfProceedsFromPrincipalPaymentsOfMortgageLoansHeldForSale
2667000
CY2022Q1 sbt Payments For Origination Net Of Proceeds From Principal Payments Of Mortgage Loans Held For Sale
PaymentsForOriginationNetOfProceedsFromPrincipalPaymentsOfMortgageLoansHeldForSale
698000
CY2023Q1 us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
2979000
CY2022Q1 us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
1518000
CY2023Q1 sbt Gain Loss On Sale Of Loans Originated For Investment Loans Held For Sale
GainLossOnSaleOfLoansOriginatedForInvestmentLoansHeldForSale
-25000
CY2022Q1 sbt Gain Loss On Sale Of Loans Originated For Investment Loans Held For Sale
GainLossOnSaleOfLoansOriginatedForInvestmentLoansHeldForSale
197000
CY2023Q1 sbt Recovery Of Mortgage Repurchase Liability
RecoveryOfMortgageRepurchaseLiability
120000
CY2022Q1 sbt Recovery Of Mortgage Repurchase Liability
RecoveryOfMortgageRepurchaseLiability
-213000
CY2023Q1 sbt Increase Decrease In Cash Surrender Value Of Bank Owned Life Insurance
IncreaseDecreaseInCashSurrenderValueOfBankOwnedLifeInsurance
52000
CY2022Q1 sbt Increase Decrease In Cash Surrender Value Of Bank Owned Life Insurance
IncreaseDecreaseInCashSurrenderValueOfBankOwnedLifeInsurance
130000
CY2023Q1 sbt Valuation Allowance Adjustments And Amortization Of Mortgage Servicing Rights
ValuationAllowanceAdjustmentsAndAmortizationOfMortgageServicingRights
91000
CY2022Q1 sbt Valuation Allowance Adjustments And Amortization Of Mortgage Servicing Rights
ValuationAllowanceAdjustmentsAndAmortizationOfMortgageServicingRights
-157000
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
173000
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
146000
CY2023Q1 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
55000
CY2022Q1 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-17000
CY2023Q1 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-212000
CY2022Q1 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-1041000
CY2023Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2340000
CY2022Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1586000
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-4426000
CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-3687000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3473000
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1198000
CY2023Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
5358000
CY2022Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
12352000
CY2023Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
2977000
CY2023Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
2979000
CY2022Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
73632000
CY2022Q1 sbt Payments For Origination Of Loans Held For Sale Net Of Repayments
PaymentsForOriginationOfLoansHeldForSaleNetOfRepayments
-142123000
CY2023Q1 sbt Principal Payments Received On Commercial Real Estate Loans Held For Sale
PrincipalPaymentsReceivedOnCommercialRealEstateLoansHeldForSale
10000
CY2022Q1 sbt Principal Payments Received On Commercial Real Estate Loans Held For Sale
PrincipalPaymentsReceivedOnCommercialRealEstateLoansHeldForSale
2515000
CY2022Q1 us-gaap Proceeds From Sale Of Wholly Owned Real Estate And Real Estate Acquired In Settlement Of Loans
ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans
49610000
CY2022 sbt Accrued Interest On Available For Sale Debt Securities
AccruedInterestOnAvailableForSaleDebtSecurities
808000
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
114000
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
75184000
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
135516000
CY2023Q1 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
-32215000
CY2022Q1 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
-61563000
CY2023Q1 sbt Payments For Surrender Of Vested Shares Due To Employee Tax Liability
PaymentsForSurrenderOfVestedSharesDueToEmployeeTaxLiability
75000
CY2022Q1 sbt Payments For Surrender Of Vested Shares Due To Employee Tax Liability
PaymentsForSurrenderOfVestedSharesDueToEmployeeTaxLiability
84000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-32290000
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-61647000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
39421000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
75067000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
379798000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
411676000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
419219000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
486743000
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
11424000
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
3768000
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
25000
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
82000
CY2023Q1 us-gaap Transfer Of Portfolio Loans And Leases To Held For Sale1
TransferOfPortfolioLoansAndLeasesToHeldForSale1
34581000
CY2023Q1 us-gaap Transfer Of Loans Held For Sale To Portfolio Loans1
TransferOfLoansHeldForSaleToPortfolioLoans1
3906000
CY2023Q1 sbt Number Of Branches
NumberOfBranches
28
CY2023Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2022Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
45464000
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Use of Estimates</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Due to the inherent uncertainty involved in making estimates, actual results reported in the future periods may be based upon amounts that could differ from those estimates.</p>
CY2023Q1 sbt Accrued Interest On Available For Sale Debt Securities
AccruedInterestOnAvailableForSaleDebtSecurities
712000
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Concentration of Credit Risk</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The loan portfolio consists primarily of residential real estate loans, which are collateralized by real estate. At March 31, 2023 and December 31, 2022, residential real estate loans accounted for 83% and 84%, respectively, of total gross loans. In addition, most of these residential loans and other commercial loans have been made to individuals and businesses in the state of California, which are dependent on the area economy for their livelihoods and servicing of their loan obligation. At March 31, 2023 and December 31, 2022, approximately 81% of gross loans were originated with respect to properties or businesses located in the state of California. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">In December 2019, the Company terminated a loan product consisting of one-, three-, five- or seven-year adjustable-rate mortgages that required a down payment of at least 35% (also referred to herein as “Advantage Loan Program loans”) which continues to be the largest portion of gross residential loans. An internal review of the Advantage Loan Program indicated that certain employees engaged in misconduct in connection with the origination of a significant number of such loans, including with respect to verification of income, the amount of income reported for borrowers, reliance on third parties and related documentation. Refer to Note 15—Commitments and Contingencies.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Advantage Loan Program loans (including residential real estate loans held for sale of $36,234 and $6,181 at March 31, 2023 and December 31, 2022, of which $26,074 and $1,942 were on nonaccrual status as of those respective dates) totaled $824,033 and $880,373, or 62% and 63% of gross residential loans, at March 31, 2023 and December 31, 2022, respectively.</p>
CY2023Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
365622000
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
27000
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
23115000
CY2023Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
342534000
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
370489000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
21000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
26952000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
343558000
CY2022Q1 sbt Servicing Fee Income Expense Net Of Amortization Of Servicing Rights And Changes In Valuation Allowance
ServicingFeeIncomeExpenseNetOfAmortizationOfServicingRightsAndChangesInValuationAllowance
443000
CY2023Q1 sbt Debt Securities Single Issuer Carrying Value Over Ten Percent Stock Holders Equity
DebtSecuritiesSingleIssuerCarryingValueOverTenPercentStockHoldersEquity
0
CY2022Q4 sbt Debt Securities Single Issuer Carrying Value Over Ten Percent Stock Holders Equity
DebtSecuritiesSingleIssuerCarryingValueOverTenPercentStockHoldersEquity
0
CY2023Q1 sbt Threshold Percentage Of Shareholders Equity For Securities Held Of Single Issuer
ThresholdPercentageOfShareholdersEquityForSecuritiesHeldOfSingleIssuer
0.10
CY2022 sbt Threshold Percentage Of Shareholders Equity For Securities Held Of Single Issuer
ThresholdPercentageOfShareholdersEquityForSecuritiesHeldOfSingleIssuer
0.10
CY2023Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
2977000
CY2023Q1 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
1000
CY2023Q1 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
3000
CY2023Q1 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
-2000
CY2023Q1 sbt Debt Securities Available For Sale Realized Gain Loss Income Tax Expense Benefit
DebtSecuritiesAvailableForSaleRealizedGainLossIncomeTaxExpenseBenefit
1000
CY2023Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
365622000
CY2023Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
342534000
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
100315000
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
2465000
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
214889000
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
20650000
CY2023Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
315204000
CY2023Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
23115000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
175695000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
6147000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
140408000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
20805000
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
316103000
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
26952000
CY2023Q1 us-gaap Equity Securities Fv Ni Current And Noncurrent
EquitySecuritiesFvNiCurrentAndNoncurrent
4712000
CY2022Q4 us-gaap Equity Securities Fv Ni Current And Noncurrent
EquitySecuritiesFvNiCurrentAndNoncurrent
4642000
CY2023Q1 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
4466000
CY2022Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
4396000
CY2023Q1 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
71000
CY2022Q1 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
-236000
CY2023Q1 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
71000
CY2022Q1 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-236000
CY2023Q1 us-gaap Loans Held For Sale Fair Value Disclosure
LoansHeldForSaleFairValueDisclosure
37979000
CY2022Q4 us-gaap Loans Held For Sale Fair Value Disclosure
LoansHeldForSaleFairValueDisclosure
7725000
CY2023Q1 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
1552046000
CY2022Q4 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
1658849000
CY2023Q1 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
38565000
CY2022Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
45464000
CY2023Q1 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
1513481000
CY2022Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
1613385000
CY2023Q1 sbt Accrued Interest Receivable From Gross Loans
AccruedInterestReceivableFromGrossLoans
6397000
CY2022Q4 sbt Accrued Interest Receivable From Gross Loans
AccruedInterestReceivableFromGrossLoans
6894000
CY2022Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
45464000
CY2023Q1 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
784000
CY2023Q1 us-gaap Allowance For Loan And Lease Losses Writeoffs Net
AllowanceForLoanAndLeaseLossesWriteoffsNet
6478000
CY2023Q1 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
66000
CY2023Q1 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
38565000
CY2021Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
56548000
CY2022Q1 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
-4289000
CY2022Q1 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
196000
CY2022Q1 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
52455000
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
11000
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
45453000
CY2022Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
45464000
CY2022Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
2637000
CY2022Q4 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
1656212000
CY2022Q4 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
1658849000
CY2022Q4 us-gaap Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithNoRelatedAllowanceUnpaidPrincipalBalance
2819000
CY2022Q4 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
2592000
CY2022Q4 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
2898000
CY2022Q4 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
2637000
CY2022Q4 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
11000
CY2022Q1 us-gaap Impaired Financing Receivable With No Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceAverageRecordedInvestment
8573000
CY2022Q1 us-gaap Impaired Financing Receivable With No Related Allowance Interest Income Accrual Method
ImpairedFinancingReceivableWithNoRelatedAllowanceInterestIncomeAccrualMethod
41000
CY2022Q1 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
42000
CY2022Q1 us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
26000
CY2022Q1 us-gaap Impaired Financing Receivable With No Related Allowance Interest Income Cash Basis Method
ImpairedFinancingReceivableWithNoRelatedAllowanceInterestIncomeCashBasisMethod
26000
CY2022Q1 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
8858000
CY2023Q1 us-gaap Servicing Asset At Amortized Value Fair Value
ServicingAssetAtAmortizedValueFairValue
2039000
CY2023Q1 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
34000
CY2022Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
33690000
CY2022Q4 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
35000
CY2023Q1 sbt Loans Receivable Held For Sale Net Not Part Of Disposal Group Investment Non Accrual
LoansReceivableHeldForSaleNetNotPartOfDisposalGroupInvestmentNonAccrual
0
CY2023Q1 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
1552046000
CY2022Q4 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
1658849000
CY2022Q4 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
1658849000
CY2023Q1 sbt Balance Of Mortgage Loans Serviced
BalanceOfMortgageLoansServiced
184862000
CY2022Q4 sbt Balance Of Mortgage Loans Serviced
BalanceOfMortgageLoansServiced
191260000
CY2023Q1 sbt Custodial Escrow Funds
CustodialEscrowFunds
842000
CY2022Q4 sbt Custodial Escrow Funds
CustodialEscrowFunds
380000
CY2022Q4 us-gaap Servicing Asset At Amortized Value
ServicingAssetAtAmortizedValue
1840000
CY2021Q4 us-gaap Servicing Asset At Amortized Value
ServicingAssetAtAmortizedValue
3332000
CY2022Q1 us-gaap Servicing Asset At Amortized Value Additions
ServicingAssetAtAmortizedValueAdditions
9000
CY2023Q1 us-gaap Servicing Asset At Amortized Value Amortization1
ServicingAssetAtAmortizedValueAmortization1
74000
CY2022Q1 us-gaap Servicing Asset At Amortized Value Amortization1
ServicingAssetAtAmortizedValueAmortization1
253000
CY2023Q1 us-gaap Servicing Asset At Amortized Value
ServicingAssetAtAmortizedValue
1766000
CY2022Q1 us-gaap Servicing Asset At Amortized Value
ServicingAssetAtAmortizedValue
3088000
CY2022Q4 us-gaap Valuation Allowance For Impairment Of Recognized Servicing Assets Balance
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsBalance
46000
CY2021Q4 us-gaap Valuation Allowance For Impairment Of Recognized Servicing Assets Balance
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsBalance
610000
CY2023Q1 us-gaap Valuation Allowance For Impairment Of Recognized Servicing Assets Provisions Recoveries
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsProvisionsRecoveries
17000
CY2022Q1 us-gaap Valuation Allowance For Impairment Of Recognized Servicing Assets Provisions Recoveries
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsProvisionsRecoveries
-410000
CY2023Q1 us-gaap Valuation Allowance For Impairment Of Recognized Servicing Assets Balance
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsBalance
63000
CY2022Q1 us-gaap Valuation Allowance For Impairment Of Recognized Servicing Assets Balance
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsBalance
200000
CY2023Q1 sbt Servicing Asset At Amortized Value Net Of Valuation Allowance
ServicingAssetAtAmortizedValueNetOfValuationAllowance
1703000
CY2022Q1 sbt Servicing Asset At Amortized Value Net Of Valuation Allowance
ServicingAssetAtAmortizedValueNetOfValuationAllowance
2888000
CY2023Q1 sbt Servicing Fee Income Expense Net Of Amortization Of Servicing Rights And Changes In Valuation Allowance
ServicingFeeIncomeExpenseNetOfAmortizationOfServicingRightsAndChangesInValuationAllowance
59000
CY2022Q4 us-gaap Servicing Asset At Amortized Value Fair Value
ServicingAssetAtAmortizedValueFairValue
2154000
CY2022 us-gaap Servicing Assets And Servicing Liabilities At Fair Value Assumptions Used To Estimate Fair Value Prepayment Speed
ServicingAssetsAndServicingLiabilitiesAtFairValueAssumptionsUsedToEstimateFairValuePrepaymentSpeed
0.102
CY2022 us-gaap Servicing Assets And Servicing Liabilities At Fair Value Assumptions Used To Estimate Fair Value Weighted Average Life1
ServicingAssetsAndServicingLiabilitiesAtFairValueAssumptionsUsedToEstimateFairValueWeightedAverageLife1
P77M
CY2022 us-gaap Servicing Assets And Servicing Liabilities At Fair Value Assumptions Used To Estimate Fair Value Expected Credit Losses
ServicingAssetsAndServicingLiabilitiesAtFairValueAssumptionsUsedToEstimateFairValueExpectedCreditLosses
0.002
CY2022Q4 us-gaap Interest Bearing Domestic Deposit Time Deposits
InterestBearingDomesticDepositTimeDeposits
861733000
CY2022Q4 us-gaap Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
243861000
CY2023Q1 sbt Federal Home Loan Bank Advances Maturities Summary Fixed Rate After One Year
FederalHomeLoanBankAdvancesMaturitiesSummaryFixedRateAfterOneYear
50000000
CY2022Q4 sbt Federal Home Loan Bank Advances Maturities Summary Fixed Rate After One Year
FederalHomeLoanBankAdvancesMaturitiesSummaryFixedRateAfterOneYear
50000000
CY2021Q4 sbt Federal Home Loan Bank Letter Of Credit
FederalHomeLoanBankLetterOfCredit
11500000
CY2023Q1 sbt Federal Home Loan Bank Letter Of Credit
FederalHomeLoanBankLetterOfCredit
2000000
CY2022Q1 sbt Borrowings Outstanding On Standby Letters Of Credit From Federal Home Loan Banks
BorrowingsOutstandingOnStandbyLettersOfCreditFromFederalHomeLoanBanks
0
CY2023Q1 sbt Borrowings Outstanding On Standby Letters Of Credit From Federal Home Loan Banks
BorrowingsOutstandingOnStandbyLettersOfCreditFromFederalHomeLoanBanks
0
CY2023Q1 sbt Federal Home Loan Bank Advances And Overdraft Line Of Credit Additional Borrowing Capacity
FederalHomeLoanBankAdvancesAndOverdraftLineOfCreditAdditionalBorrowingCapacity
398361000
CY2023Q1 sbt Minimum Tier1 Leverage Ratio For Cblr Framework
MinimumTier1LeverageRatioForCblrFramework
0.090
CY2023Q1 sbt Maximum Total Consolidated Assets For Cblr Framework
MaximumTotalConsolidatedAssetsForCblrFramework
10000000000
CY2023Q1 sbt Leverage Ratio Percentage For Generally Applicable Capital Requirements
LeverageRatioPercentageForGenerallyApplicableCapitalRequirements
0.080
CY2023Q1 sbt Minimum Percentage Of Assets To Be Maintained Under Qualified Thrift Lender Test
MinimumPercentageOfAssetsToBeMaintainedUnderQualifiedThriftLenderTest
0.65
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-503000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
5260000
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50444463
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50191288
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50444463
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50406123
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.10
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.10
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
699057
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
49545
CY2023Q1 us-gaap Off Balance Sheet Credit Loss Liability Credit Loss Expense Reversal
OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal
-110000
CY2023Q1 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
469000
CY2023Q1 sbt Outstanding Principal Balance Future Repurchase Amount
OutstandingPrincipalBalanceFutureRepurchaseAmount
20471000
CY2022Q1 sbt Recovery Of Mortgage Repurchase Liabilities
RecoveryOfMortgageRepurchaseLiabilities
929000
CY2022 sbt Recovery Of Mortgage Repurchase Liabilities
RecoveryOfMortgageRepurchaseLiabilities
809000

Files In Submission

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FilingSummary.xml Edgar Link unprocessable
sbt-20230331_cal.xml Edgar Link unprocessable
0001104659-23-058257-index-headers.html Edgar Link pending
0001104659-23-058257-index.html Edgar Link pending
0001104659-23-058257.txt Edgar Link pending
0001104659-23-058257-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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report.css Edgar Link pending
sbt-20230331.xsd Edgar Link pending
sbt-20230331x10q.htm Edgar Link pending
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sbt-20230331_def.xml Edgar Link unprocessable
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sbt-20230331x10q_htm.xml Edgar Link completed