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.