Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to (State or other jurisdiction of incorporation or organization) Michigan 38-3163775 (I.R.S. Employer Identification Number) Commission File Number 0 ...

Financial Data and Key Metrics Changes - The company reported a small profit in Q3 2022, with credit conditions continuing to improve, including no delinquencies or non-performing assets in the commercial portfolio for the first time [3][4] - The margin improved to 3.19% during the quarter, driven by higher interest rates and interest recoveries from loans that paid off [5] Business Line Data and Key Metrics Changes - The company sold $22 million worth of weaker commercial real estate credits, contributing to the improvement in credit quality [4] - There was a notable decline in residential non-accruals and delinquencies due to payoffs and reinstatements [4] Market Data and Key Metrics Changes - The company anticipates continued increases in liability costs as interest rates rise, impacting the entire industry [5][6] Company Strategy and Development Direction - The company has undergone a complete transformation of its IT platform, risk platform, and credit management systems, incurring expenses for legal and professional fees [11][12] - The company is focused on resolving outstanding regulatory issues, including a $6 million civil money penalty from the OCC and ongoing discussions with the DOJ [7][9] Management's Comments on Operating Environment and Future Outlook - Management expressed limited visibility into the timing of the final resolution of ongoing legal matters but remains hopeful for a resolution in the coming months [9][10] - The company is committed to addressing the interests of public shareholders and stakeholders while pushing forward to resolve remaining issues [29] Other Important Information - The company has settled a derivative shareholder action, which is now complete [8] - The remaining outstanding issue involves the Justice Department and SEC, with no clear timeline for resolution [9] Q&A Session Summary Question: Can you share thoughts on the reduction in professional fees and expectations for near-term expenses? - Management indicated that the timing of the resolution of the OCC investigation will significantly impact expenses, and they are unable to provide a specific estimate [17][20] Question: Is there potential to pay down variable rate sub-debt to alleviate funding pressures? - Management stated that it is unlikely to pay down the sub-debt in the near term due to liquidity constraints at the holding company [22][23] Question: How much remains in the mortgage repurchase liability allowance and future purchases? - Management reported that only $45 million remains outstanding in Advantage Program Loans, with minimal reserves set aside for potential repurchases [24][25]

Financial Data and Key Metrics Changes - The company reported a net loss of $2.2 million or $0.04 per share, primarily due to extraordinary items and legal costs [4][5] - Total expenses were reported at $19.5 million, with a significant portion attributed to legal and investigation-related costs [5] - The margin improved by 13 basis points, from 2.82% to 2.95%, despite a reported decline from 3.03% to 2.95% due to one-time recoveries in the previous quarter [9][10] Business Line Data and Key Metrics Changes - The company transitioned to an outsourced platform, Promontory MortgagePath, for residential home lending, which is expected to save approximately $3 million annually in fixed costs [6][8] - The margin for the quarter was impacted by various one-time items, but the overall direction for margin improvement is anticipated as deposit costs rise [10][11] Market Data and Key Metrics Changes - The company is facing a challenging economic environment with rising interest rates, which could impact future performance and liquidity [10][30] - The management expressed concerns about the balance sheet shrinking due to higher mortgage rates and the overall economic slowdown [30] Company Strategy and Development Direction - The company is focused on satisfying the requirements of ongoing investigations, which is critical for future strategic decisions [12][14] - Management is optimistic about concluding investigations by the end of the year, which will provide clarity for future operations [15][17] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the difficulties posed by ongoing investigations and the associated costs, but expressed confidence in meeting regulatory requirements [12][13] - The company is preparing for potential increases in professional fees and legal expenses as investigations continue [27][41] Other Important Information - The company surrendered approximately $25 million worth of insurance policies, which had tax implications and affected various expense lines [18][19] - The remaining mortgage repurchase liability allowance is just under $2 million, with expectations of further repurchases in the upcoming quarters [48] Q&A Session Summary Question: What is the core run rate for expenses excluding professional fees? - Management indicated a core run rate of around $15 million excluding professional fees [26] Question: What are the remaining concerns regarding asset quality? - Management noted that significant progress has been made in derisking the balance sheet, with plans for further sales of nonperforming loans once investigations are resolved [42][45] Question: What is the status of the mortgage repurchase liability allowance? - The remaining allowance is just under $2 million, with expectations of a pullback in the third or fourth quarter [48] Question: What is the outlook for professional fees once investigations conclude? - Management estimated that normalized professional fees could be around $300,000 to $750,000 per quarter in a typical situation [37][41] Question: Has the company adopted CECL, and what is the outlook? - Management confirmed that they are on track for CECL adoption in Q1 2023, with no expected shocks to the financials [56][58]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-38290 Sterling Bancorp, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpora ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-38290 Sterling Bancorp, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpor ...

Sterling Bancorp, Inc. (Southfield, MI) (NASDAQ:SBT) Q1 2022 Earnings Conference Call May 2, 2022 1:00 PM ET Company Participants Thomas O'Brien - Chairman, Chief Executive Officer and President Karen Knott - Executive Vice President and Chief Financial Officer Conference Call Participants Nick Cucharale - Piper Sandler Ben Gerlinger - Hovde Group Operator Good afternoon, everyone. Thank you for joining us today to discuss Sterling Bancorp's Financial Results for the First Quarter ended March 31, 2022. Join ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-38290 Sterling Bancorp, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or ...

Sterling Bancorp, Inc. (Southfield, MI) (NASDAQ:SBT) Q4 2021 Earnings Conference Call February 3, 2022 11:00 AM ET Company Participants Tom O'Brien - Chairman, President and CEO Karen Knott - Chief Financial Officer and Treasurer Conference Call Participants Nick Cucharale - Piper Sandler Operator Good morning everyone. Thank you for joining us today to discuss Sterling Bancorp’s Financial Results for the Fourth Quarter and Year Ended December 31, 2021. Joining us today from Sterling’s management team are T ...

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 One Towne Square, Suite 1900 Southfield, Michigan 48076 (248) 355-2400 (Address, including zip code, and telephone number, including area code, of registrant's principal executive o ...

Sterling Bancorp, Inc. (Southfield, MI) (NASDAQ:SBT) Q3 2021 Earnings Conference Call November 1, 2021 11:00 AM ET Company Participants Tom O'Brien - Chairman, CEO and President Karen Knott - Executive Vice President and CFO Conference Call Participants Ben Gerlinger - Hovde Group Nick Cucharale - Piper Sandler Ross Haberman - RLH Investments Operator Good morning everyone. Thank you for joining us today to discuss Sterling Bancorp's Financial Results for the Third Quarter September 30, 2021. Joining us tod ...