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.
Sterling Bancorp, through its principal subsidiary, Sterling National Bank, agreed to acquire the asset-based and equipment finance lending businesses of Woodforest National Bank.
Sterling Bancorp named Christina M. Favilla chief operating officer. Favilla was previously with GE Capital Americas, where she served as COO.
Sterling Bancorp has acquired NewStar Business Credit for $112 million. Michael Haddad, former NSBC president, will manage Sterling’s asset-based lending business.
Sterling Bancorp has completed its previously announced merger with Hudson Valley Holding, forming an institution with $11.2 billion in assets.
Sterling Bancorp and Hudson Valley Holding jointly announced they have received the approval of the OCC to consummate the merger of Hudson Valley with and into Sterling.
Sterling Bancorp and Hudson Valley Holding entered into a definitive merger agreement resulting in a regional bank with $10.5 billion in assets.