Sterling National Bank (NY) is headquartered in Montebello and is the 8th largest bank in the state of New York. It is also the 63rd largest bank in the nation. It was established in 1895 and as of December of 2018, it had grown to 1,907 employees at 115 locations. Sterling National Bank (NY) has an A health rating.
In the 5 years I've had a checking account with Provident Bank, I have to say the experience was pretty okay. Customer service was always helpful, polite & accomodating in addressing errors (even my OWN...). Fees are realy no worse than other banks I was with but at least the level of calm & professionalism of individual tellers & phone reps is so refreshing that I regret moving out of their service range. They've closed several branches in the Orange county region, which is a bit of an inconvenience, but we might be able to blame the economy for a lot of that. Nonetheless, a pretty painless relationship when compared to BNY, Welles Fargone & BoA...
Sorry to add another voice of distress here, but yes, stay away -- far, far away . . .
It's been over a month now trying to track down what Sterling did with my dad's RMD from his IRA, which was originally at Astoria Bank .
Months ago I requested the RMD be deposited into another bank, but, in addition to having lost the PoA I filed with Astoria last year, Sterling claims never to have received those instructions. "When did I send it?" "To where?" are all they can pointlessly respond, attempting to shift the blame.
Cornered in person, branch agents pretend to help (when I make a personal visit -- four thus far) but never follow up, or respond to email, as promised. Too busy, I guess (ripping others off?). Out of site, out of mind. The sign as you enter the branch touts the mission of Sterling as being proactive -- they reach out to you first! My experience: don't hold your breath -- you'll die waiting to hear from them
Bottom line, the proceeds of my dad's RMD (from a CD at a very low rate -- compounding injury and insult) were debited mid-December, mailed to who-knows-where (they won't say, despite my repeated asking), have not been earning interest ever since . . . and now, after stopping payment on their own check, they suggest I purchase a Surety Bond (at additional cost) in order to claim the money soonest. Or wait another 90 days for a replacement check to be issued and mailed out.
The story changes somewhat each time I visit the branch. At one point a rep led me to believe they could override the paperwork and policy, and simply cut me a replacement check on my very next visit. One I could then cash, and deposit as I please. Never happened.
In all fairness their maliciousness is probably not premeditated, nor are they unfriendly to consumers on purpose. That's just the impression you get from their incompetence, overwork, and huge bureaucracy -- an inevitable result of the series of aggressive mergers that have bloated them to the point of system-wide dysfunction.
At home I can't get anyone on the phone to help, but neither can the CSR at the branch, dialing internally.
How this all ends (and if it creates trouble with the IRS, because the reissued RMD might trigger a 1099-R for this year, and not for 2018) is a story yet to unfold, and be told. But there's currently no light at the end of this dark tunnel.
Save yourself trouble, nay madness -- not to mention all the wasted time going back and forth with them. If you can, avoid Sterling at all costs!
The worst customer service I have ever experienced. Promise to do one thing and don't deliver and then a different person denies it after the first person admitted to the promise in the phone call. Have been with the bank over 20 years and will be leaving them today.
This has turned out to be the worst bank.
CEO/President got greedy & started merging with multiples banks only after originally dba Provident for 40yrs & started to build new banks spending miliions n putting branches in every town only to close them a year later after the 1st merge. Personally after being a customer for 35 yrs I didn't see where it was a positive move so it must only be to his financial advantage.
Their computer program is horrific which extends down to us the client making internet n mobile banking extremely difficult virtually impossible
The platform people LIE & don't tell the truth in opening accounts so be very cautious !!!
Then branch management doesn't want to correct things as it might over exert themselves
Leaving this bank after joining them in 1980 in their 2nd branch ever in new city next to the rag shop .... BYE Provident now dba Sterling National Bank
thnx for putting yourself before us !!!!
"Sterling is giving back to the Hudson Valley" Oh boy… what a joke!
After reading the Soprano's National Bank article, They ruined that small business owner in that article.
I'm going to do business with Hudson Valley Federal Credit Union.
Beware Provident Bank of Montebello NY and their Trans Fiirst credit card processor. Being a loyal customer of Provident Bank for 25 years, I made the mistake of trusting Providents agent to get the best deal possible on my credit card processing, only to find out that I unknowingly signed up my business and personally for a 48 month terminal lease ,thats noncancellable , after she assured me it was only for 12 months. Surprisingly Provident Bank has not returned any phone calls or e-mails OF FRAUD COMPLAINTS. If you signed up with this deal in the Rockalnd County NY area, please check your paper work and lets talk.
I called customer service and went in to my local branch to try to get an understanding as to why over $100 had been taken out of my account and the response was absurd! No one was trying to help nor understand; after several attempts I just closed my account and will continue to spread the word for other NOT to bank with this inconsiderate group of people.
|FDIC Certificate #||30337|
|Return on Assets - YTD||1.5%|
|Return on Equity - YTD||10.44%|
|Annual Interest Income||$1.21B|
|Assets and Liabilities|
|Assets||Q4 2018vs Q4 2017||$31.33B$30.34B|
|Loans||Q4 2018vs Q4 2017||$20.69B$19.94B|
|Deposits||Q4 2018vs Q4 2017||$21.34B$20.76B|
|Equity Capital||Q4 2018vs Q4 2017||$4.51B$4.37B|
|Loan Loss Allowance||Q4 2018vs Q4 2017||$95.7MM$77.9MM|
|Unbacked Noncurrent Loans||Q4 2018vs Q4 2017||$170.9MM$187.2MM|
|Real Estate Owned||Q4 2018vs Q4 2017||$19.4MM$27.1MM|
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