SOURCE: Sterling Natonal Bank

Sterling Natonal Bank

August 17, 2016 08:00 ET

Stephen Altneu Joins Sterling National Bank as Managing Director

Altneu Will Lead Asset-Based Lending Origination in Northeast Region

MONTEBELLO, NY--(Marketwired - August 17, 2016) - Sterling National Bank, the principal subsidiary of Sterling Bancorp (NYSE: STL), announced today that Stephen Altneu has joined the organization as Managing Director of its asset-based lending business. In his new role, Mr. Altneu will be responsible for overseeing asset-based loan origination across the Northeast U.S.

Mr. Altneu brings more 25 years of financial services experience to Sterling, with deep experience in the areas of buyouts, acquisitions, and recapitalizations. His addition to the bank's fast-growing asset-based lending business underscores Sterling's commitment to providing highly-customized services using a team-based client service model. Mr. Altneu will be based in New York City and directly report to Michael Haddad.

"Steve is a great addition to our origination efforts in the Northeast Region," said Michael Haddad, Division President Asset Based Lending for Sterling. "He adds depth to our team with a valuable combination of marketing coverage, credit skills and deal execution experience."

Prior to joining Sterling, Mr. Altneu held prominent positions at Capital One Business Credit Corp., Merrill Lynch, and Comerica. At Capital One, he was responsible for generating opportunities, structuring transactions, conducting initial credit underwriting, and overseeing closing. He was the top business originator at Capital One in 2009, 2011, 2012 and 2013, with transaction sizes ranging from $5-70 million.

Sterling Asset Based Lending provides asset-based loans to mid-sized companies operating across a wide range of industries in the middle market. Sterling offers a variety of flexible financing options through a combination of revolving lines of credit and term loans, employing funds from $5 million to $40 million.

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.

Forward-Looking Statements
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.

Contact Information

  • STERLING NATIONAL BANK:

    Suzanne M. Copeland
    Chief Marketing Officer

    845.369.8040