Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - STERLING BANCSHARES INC | d8k.htm |
| EX-1.1 - UNDERWRITING AGREEMENT - STERLING BANCSHARES INC | dex11.htm |
Exhibit 99.1
NEWS RELEASE
| For More Information Contact: | For Release - March 2, 2010 | |
| J. Downey Bridgwater, Chairman, President | ||
| & Chief Executive Officer (713) 507-2670 | ||
| Zach L. Wasson, Executive Vice President & | ||
| Chief Financial Officer (713) 507-1297 | ||
| Chris Reid, Vice President | ||
| Investor Relations (713) 507-2873 |
Sterling Bancshares Closes Common Stock Offering
HOUSTON, TX, March 2, 2010 – Sterling Bancshares, Inc. (NASDAQ: SBIB) announced today that it has completed the previously announced registered offering of 20 million shares of common stock, which includes 2.6 million shares issued pursuant to the underwriter’s over-allotment option. On February 25, 2010, the common stock underwriter, Morgan Stanley & Co. Incorporated, exercised in full their option to purchase the additional 2.6 million shares. The offering resulted in net proceeds of approximately $86.8 million, after deducting underwriting fees and estimated offering expenses. Morgan Stanley & Co. Incorporated served as sole book-running manager for the equity offering. Sandler O’Neill + Partners, L.P. acted as co-manager for the equity offering.
About Sterling Bancshares
Sterling Bancshares, Inc. is a Houston-based bank holding company with total assets of $4.9 billion, which operates 58 banking centers in the greater metropolitan areas of Houston, San Antonio, Dallas and Fort Worth, Texas. The Company’s common stock is traded through the NASDAQ Global Select Market under the symbol “SBIB”.
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