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Bracewell Represents Woodforest National Bank in $495 Million Sale to Sterling National Bank

HOUSTON  Bracewell LLP represented Woodforest National Bank in connection with the sale of its asset-based and equipment finance lending businesses to Sterling National Bank, the subsidiary of Sterling Bancorp (NYSE: STL). The transaction closed on February 28, 2019.

The balance of the acquired commercial loans and leases outstanding was $495 million, with $331 million in asset-based loans and $164 million in equipment finance loans.

Additional information about the transaction can be found here.

Bracewell lawyers involved in this transaction included:


Partners: Joshua T. McNulty, William S. Anderson, Michele J. Alexander, K. Brock Bailey, Heather L. Brown, Daniel E. Hemli, Robert S. Nichols and Scott C. Sanders

Counsel: Jacqueline R. Java

Associates: Nigel Wheeler, Shannon Baldwin, Ryan Davis and Christie L. Latimer