Sterling Financial Corp. has extended the expiration date for its effort to buy back $238 million in trust-preferred securities.
The deadline was today. April 12 is the new date.
The Spokane-based parent of Sterling Savings Bank and Golf Savings Bank is offering 20 cents on the dollar for the securities. Investor response will be critical to the company’s $650 million recapitalization plan, which is being closely monitored by federal and state regulators.
The Spokesman-Review business team follows economic development in Spokane and the Inland Northwest.
Tom Sowa Tom Sowa covers technology, retail and economic development and writes the Office Hours blog.
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Scott Maben Scott Maben is a Deputy City Editor who covers North Idaho news and higher education.
Addy Hatch is the city editor, and formerly was business editor.
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