Sterling Bancorp completes $180M IPO

Manatt provided advice to Sandler O'Neill + Partners, L.P., an investment bank, as underwriter's counsel in the $180 million IPO of Sterling Bancorp, a Michigan-based thrift holding company with its operations primarily centered in San Francisco and Los Angeles. Sterling Bancorp has a large and growing portfolio of adjustable-rate residential mortgage loans. It intends to contribute substantially all the net proceeds of the offering to the bank as needed. The net proceeds will be used to support the bank's current growth, its future growth initiatives or selective acquisition activity. More information about Sterling Bancorp's IPO may be obtained from the company announcement.

Client

Sandler O'Neill + Partners, L.P.

Service Type

Capital Market Finance

Industry

Financial & Insurance Services, Investment Banking

Office

San Francisco