Daily News: October 18, 2019

Sterling Bancorp Promotes Lopp to Chairman/CEO


Sterling Bancorp Chairman and CEO Gary Judd will retire after more than 11 years with the company. The bank’s board has appointed Tom Lopp, the current president, chief operating officer and chief financial officer, to succeed Judd.

Steve Huber, in addition to his current role as chief financial officer, will be promoted to chief financial officer and treasurer of Sterling. The transitions will be effective on November 30, 2019.

“On behalf of Sterling and our board of directors, I want to thank Gary for his vision and leadership, which took the company from $678 million in assets and ten branches, primarily in the San Francisco Bay Area in 2008, to over $3 billion in assets and 30 branches in four major markets across four states today. We wish Gary the best in his retirement and value his continued friendship and support for years to come,” said The Board of Directors Compensation Committee Chairman, Lyle Wolberg.

“We also want to welcome Tom in his new roles with the company. The board has had this leadership succession plan in place for a number of years and is confident that Tom is the right choice to lead the company into its next period of growth. His deep industry experience and many years of leadership at Sterling will enable us to continue to deliver exceptional customer service and industry-leading financial returns for our shareholders.”

Commenting on Steve Huber’s promotion, Lopp continued, “Steve Huber is an outstanding CFO for our Bank and the obvious choice to assume the additional roles of CFO and Treasurer for Sterling. We appreciate his contributions since joining Sterling 24 years ago and we look forward to many more to come.”

Lopp was elected president in December 2016 and has served as chief operating officer since September 2009 and as chief financial officer and treasurer since 2002. Previously, he served as the director of the Consumer Loan Division from 2000 to 2002 and the Divisional Controller from 1997 to 2000. Prior to joining Sterling 1997, he served as a senior financial analyst at First of America Bank, credit card product manager at NBD Bank, and credit card portfolio analyst for Security Bancorp, later acquired by First of America Bank.

Huber has served as the chief financial officer of Sterling Bank & Trust, since 2017 and has been with the company since 1995. Before joining Sterling, he served in Special Loan Analyst and Mortgage Accounting positions at Source One Mortgage Services Corporation and Independence One Mortgage/Michigan National Bank (later acquired by Norwest Mortgage), respectively.

Sterling Bancorp is a unitary thrift holding company. Its wholly owned subsidiary, Sterling Bank and Trust, has primary branch operations in San Francisco and Los Angeles, New York City and Bellevue, WA. Sterling offers a broad range of loan products to the residential and commercial markets, as well as retail and business banking services.