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Sterling Bancorp to redeem all 8.375% cumulative trust preferreds
By Tali Rackner
Norfolk, Va., April 30 - Sterling Bancorp said it will redeem all of its 8.375% cumulative trust preferred securities issued by Sterling Bancorp Trust I, according to an 8-K filing with the Securities and Exchange Commission.
The securities will be redeemed at par of $10 per security plus accumulated distributions on June 2.
The Bank of New York Mellon is the trustee.
Sterling is a New York-based bank holding company.
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