Info

Sterling Banks, Inc. is a bank holding company. The Company is the successor to Sterling Bank (the Bank), pursuant to the plan of reorganization by and between the Company and the Bank that was completed on March 16, 2007, whereby the Bank became a wholly owned subsidiary of the Company. The Bank is a commercial bank, which provides individuals, businesses and institutions with commercial and retail banking services, principally in loans and deposits. Its primary deposit products are checking, savings and term certificate accounts, and its loan products are consumer, residential mortgage and commercial loans. In addition, on March 16, 2007, the Bank, the Company and Farnsworth Bancorp, Inc. (Farnsworth) completed the merger (the Merger), in which Farnsworth merged with and into the Company, with the Company as the surviving corporation. Subsequent to the Merger, Peoples Savings Bank, a subsidiary of Farnsworth, was merged with and into the Bank, with the Bank as the surviving Bank.(Source: 10-K)