09:38 AM EDT, 03/14/2025 (MT Newswires) -- Sterling Bancorp ( SBT ) said Friday it has received approval from the Comptroller of the Currency to sell all of the issued and outstanding shares of its Sterling Bank and Trust unit to EverBank Financial.

Sterling said it will receive a fixed purchase price of $261 million in cash in the sale and that it intends to complete the transaction following the expiration of all applicable waiting periods.

The deal was first announced in September.