Is this bank still scheduled to close in the 4th qtr. of 2013???
Yes. In the 4th quarter PBNY is buying STL and the bank will retain the name Sterling.
The combined book value at present is $18.80.
Correction, The press release says its a merger.
Also, PBNY and STL along with ten similar banks are priced at an average 1.3 times book value.