Parent Company Only Financial Information

12 Months Ended

Dec. 31, 2012

Parent Only [Abstract]

Parent Company Only Financial Information

Parent Company Only Financial Information:

The following parent company-only financial information should be read in conjunction with the other notes to consolidated financial statements. The accounting policies for the parent company-only financial statements are the same as those used in the presentation of the consolidated financial statements other than the parent company-only financial statements account for the parent company's investments in its subsidiaries under the equity method.

Parent Only Balance Sheets	December 31,		December 31,
	2012		2011
Assets:	(in thousands)
Cash and cash equivalents	$	24,443	$	44,602
Investments in subsidiaries:
Sterling Bank	1,417,025		1,089,820
Other subsidiaries	8,307		8,185
Receivable from subsidiaries	0		283
Other assets	20,755		1,158
Total assets	$	1,470,530	$	1,144,048
Liabilities and Shareholders' Equity:
Accrued expenses payable	$	3,072	$	4,111
Junior subordinated debentures	245,294		245,290
Due to affiliates	4,241		16,090
Shareholders' equity	1,217,923		878,557
Total liabilities and shareholders' equity	$	1,470,530	$	1,144,048

Parent Only Statements of Operations	Years Ended December 31,
(in thousands)	2012			2011			2010
	(in thousands)
Interest income	$	268		$	300		$	253
Interest expense	6,785			6,433			6,349
Net interest expense	(6,517		)	(6,133		)	(6,096		)
Equity in net earnings of subsidiary	380,294			50,961			(206,677		)
Noninterest expenses	5,385			5,699			11,568
Income before income taxes	368,392			39,129			(224,341		)
Income tax benefit	17,329			4			59
Net income (loss)	$	385,721		$	39,133		$	(224,282	)

Parent Only Statements of Cash Flows	Years Ended December 31,
	2012			2011			2010
	(in thousands)
Cash flows from operating activities:
Net income (loss)	$	385,721		$	39,133		$	(224,282	)
Adjustments to reconcile net income to net cash used in operating activities	(412,528		)	(42,051		)	214,128
Net cash used in operating activities	(26,807		)	(2,918		)	(10,154		)
Cash flows from investing activities:
Investments in subsidiaries, net	0			0			(650,000		)
Dividends from subsidiary	52,600			0			0
Net cash provided by (used in) investing activities	52,600			0			(650,000		)
Cash flows from financing activities:
Net proceeds from stock issuances	3,791			0			683,334
Dividends paid	(49,743		)	0			0
Net cash provided by (used in) financing activities	(45,952		)	0			683,334
Net change in cash and cash equivalents	(20,159		)	(2,918		)	23,180
Cash and cash equivalents, beginning of year	44,602			47,520			24,340
Cash and cash equivalents, end of year	$	24,443		$	44,602		$	47,520