MONTEBELLO, NY--(Marketwired - July 20, 2016) - Sterling National Bank, the principal subsidiary of Sterling Bancorp (NYSE: STL), announced today that Robert W. Koar, has joined as Senior Managing Director. He will lead a team of relationship managers dedicated to providing commercial banking services to middle market companies in New Jersey.
The addition of Mr. Koar reflects the continued growth of Sterling's broad team-based approach to providing highly personalized services to its clients across multiple disciplines, including commercial banking services, real estate, and private banking as well as Sterling's increasing presence in New Jersey. He brings to Sterling diverse financial services experience, substantial expertise in relationship banking, and a proven track record of success across the greater New York market. He will be based in Paramus.
Koar brings extensive commercial lending experience and has held leadership positions at Citibank and Wachovia Bank. He has also worked in various aspects of financial services at Wachovia Securities and First Fidelity Bank.
"We are really excited to have Bob join Sterling," said Vincent DeLucia, President New York Regional Market. "New Jersey is a vibrant market and is particularly rich in small and mid-sized businesses. Bob's deep understanding of client needs in the commercial lending arena is a strong fit with our existing team and with our strategy of providing custom-tailored, client-centric financial solutions to the greater New York region. The diversity of Bob's financial services background is an excellent complement to our team-based approach in which each client is provided solutions across multiple disciplines through a single point of contact."
Koar's Board affiliations include the NJIT Board of Overseers, Georgian Court, the Tri-County Scholarship Fund, and the Commerce and Industry Association of New Jersey. He is also the Commodore of the Bay Head Yacht Club. In 2013, he was honored by both the Greater Jamaica Development Corp of New York and the New Jersey Development Corporation.
About Sterling National Bank
Sterling National Bank, the principal subsidiary of Sterling Bancorp, specializes in the delivery of service and solutions to business owners, their families, and consumers in communities within the greater New York City area through teams of dedicated and experienced relationship managers. Sterling National Bank offers a complete line of commercial, business, and consumer banking products and services. For more information, visit www.snb.com.
This release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements may concern Sterling's current expectations about its future results, plans, operations and prospects and are subject to numerous assumptions, risks and uncertainties, including inflation; the effects of, and changes in, trade; changes in asset quality and credit risk; introduction, withdrawal, success and timing of business initiatives; capital management activities; customer disintermediation; and the success of Sterling at managing these risks. Other factors that could cause Sterling's actual results to differ from those indicated in forward-looking statements are included in the "Risk Factors" section of Sterling's securities filings with the Securities and Exchange Commission. The forward-looking statements included herein are only made as of the date hereof, and Sterling specifically disclaims any obligation to update these statements in the future.