Provident New York Bancorp, Sterling Merger Gets All Regulatory Approvals

(RTTNews) - Provident New York Bancorp (PBNY) and Sterling Bancorp (STL) jointly announced that they have now received all required regulatory approvals necessary to consummate the planned merger, including the approval of the Board of the Federal Reserve System, the Office of the Comptroller of the Currency and the New York State Department of Financial Services. Subject to the satisfaction of the remaining conditions in the merger agreement, the companies expect the merger to be completed after the close of business on October 31, 2013.

The merged holding company will take the name Sterling Bancorp and Provident Bank will be converted to a national bank charter under the Sterling National Bank name.