SOURCE: Sterling National Bank

Sterling National Bank

November 09, 2015 08:15 ET

Sterling National Bank Expands Specialty Finance Team

Ernest Pelli Brings Extensive Asset-Based Lending Expertise

YONKERS, NY--(Marketwired - November 09, 2015) - Sterling National Bank, the principal subsidiary of Sterling Bancorp (NYSE: STL), announced today that Ernest Pelli has joined its Asset-Based Lending division as Managing Director. Mr. Pelli will serve middle market commercial companies across the country, with particular emphasis on manufacturing, wholesale operations, distribution, and service industries.

The addition of Mr. Pelli reflects the continued growth of Sterling's broad range of specialty finance offerings, which include asset-based lending, factoring and trade finance, healthcare finance, payroll finance, equipment finance, and public sector finance.

"We are very excited to add Ernest's skills and experience to our growing team," said Thomas X. Geisel, Sterling's President of Specialty Finance. "He has a proven track record of creating financing solutions to help companies grow and thrive."

Mr. Pelli brings to Sterling more than two decades of asset-based lending experience. He previously served as Senior Vice President of Global Commercial Banking at Bank of America Merrill Lynch, where he sourced, structured and closed asset-based lending facilities for middle market and large-cap clients across a variety of industries.

"As we continue to build on our financing solutions to meet the needs of middle market businesses, we are very pleased to welcome Ernest to Sterling," said Dan Chapa, Senior Managing Director of Sterling's Asset-Based Lending and Healthcare Finance divisions. "The addition of talented team members such as Ernest reflects Sterling's commitment to providing the highest quality of personalized service to our clients."

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

  • CONTACT:
    Suzanne M. Copeland
    Chief Marketing Officer
    845.369.8341

    400 Rella Boulevard
    Montebello, NY 10901
    845-369-8040 PHONE
    snb.com