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Sterling Financial

Spokane-based Sterling Savings Bank and holding company Sterling Financial Corp. were founded in 1983 by William Zuppe and Harold Gilkey.


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Stories


  • Sun., June 19, 2011, midnight

    Caldwell: West Point trained local bankers to survive

    The U.S. Military Academy at West Point graduates about 1,000 second lieutenants each year. Although trained to command men and women in combat, many leave the Army when their hitch …


  • Wed., April 20, 2011, midnight

    Sterling says profit is hopeful ‘milestone’

    The last time Sterling Financial Corp. reported a profit was in October 2008. It’s taken more than two years, but Spokane-based Sterling Savings (traded as STSA) reported a first quarter …


  • Sun., Feb. 13, 2011, midnight

    Local financial institutions weighing options

    Local bank and credit union officials said last week they have no immediate plans to eliminate free checking, but pending Federal Reserve Bank regulations may force them to reconsider. Inland …


  • Fri., Feb. 4, 2011, midnight

    Rusnak named CFO at Sterling Financial Corp.

    Patrick Rusnak has been appointed chief financial officer of Sterling Financial Corp. If regulators approve the appointment, he will succeed Dan Byrne, who has held the position since Sterling opened …


  • Fri., Jan. 21, 2011, midnight

    Employees kept focus during crisis

    Sterling Financial Corp. survived because employees did not let its capital woes break their focus on customer relationships, Chief Operating Officer Ezra Eckhardt said Thursday. Meanwhile, he said, officers worked …


  • Tue., Nov. 16, 2010, midnight

    Sterling Financial shares plunge

    The price of Sterling Financial Corp. stock fell more than 50 percent Monday, the first day of trading after the registration Friday of 4.2 billion new shares. The shares were …


  • Sun., Nov. 7, 2010, midnight

    Caldwell: Bank’s good fortune ultimately hurt it

    Cheap capital almost killed AmericanWest Bank. Documents filed with the U.S. Bankruptcy Court on Oct. 27 describe how money raised while the bank was growing snarled efforts to raise new …


  • Tue., Sept. 28, 2010, midnight

    Regulators lift order placed on Sterling Savings Bank

    State and federal regulators have lifted the cease-and-desist order placed on Sterling Savings Bank nearly one year ago. Sterling Financial Corp., the bank holding company, said Monday the move reflects …


  • Mon., Sept. 27, 2010, 4:48 p.m.

    Regulators lift cease-and-desist order on Sterling

    State and federal regulators have lifted the cease-and-desist order placed on Sterling Savings Bank nearly one year ago.


  • Sun., Sept. 5, 2010, midnight

    Bert Caldwell: Costs high, benefits higher in saving Sterling

    The successful recapitalization of Sterling Financial Corp. may well be the best economic news of 2010 for Spokane. Thanks in part to that “bailout” we all say we hate.


  • Tue., Aug. 31, 2010, midnight

    Sterling Financial paying millions to new chairman

    New Sterling Financial Corp. Chairman Les Biller was paid $1.5 million to accept the position, and will receive a total $4.5 million by Dec. 31, 2012, unless he resigns. Biller’s …


  • Sun., Aug. 29, 2010, midnight

    Sterling turns the corner after cease-and-desist order

    A new Sterling Financial Corp. management team did not know what would be expected of them in October 2009. Federal and state regulators had forced the board of directors to …


  • Sun., Aug. 29, 2010, midnight

    Bert Caldwell: Local bank knows the drill

    AmericanWest Bancorporation Chief Executive Officer Pat Rusnak took heart last week from Sterling Financial Corp.’s successful effort to raise additional capital. Like Sterling, AmericanWest was ordered by regulators to reinforce …


  • Sat., Aug. 21, 2010, midnight

    Sterling recruits capital infusion

    Sterling Financial Corp. has arranged $730 million in new investment that will bring the Spokane bank back into compliance with capital requirements 10 months after huge losses on construction and …


  • Fri., Aug. 20, 2010, 8:03 a.m.

    Sterling Financial agrees to raise $730 million

    Spokane-based Sterling Financial Corporation said today it has reached agreements to raise $730 million in new capital from institutional, private equity and other investors. Expected to close within the next …


  • Wed., July 28, 2010, midnight

    Sterling reports loss

    Sterling Financial Corp. reported a second-quarter loss Tuesday of $58.2 million, including a $70.8 million allowance for credit losses. A year ago, the Spokane bank reported a net loss of …


  • Tue., July 27, 2010, 2:46 p.m.

    Sterling Financial reports another quarter of losses

    Sterling Financial Corp. today reported a second-quarter loss of $58.2 million, including a $70.8 million allowance for credit losses. A year ago, the Spokane bank reported a net loss of …


  • Tue., May 25, 2010, midnight

    Sterling investment grows

    A Wall Street private equity firm has agreed to invest $139 million in Sterling Financial Corp. as the Spokane bank holding company continues its recapitalization effort. Warburg Pincus Private Equity …


  • Mon., May 24, 2010, 9:30 a.m.

    Equity firm to invest $139 million in Sterling

    A Wall Street private equity firm has agreed to invest $139 million in Sterling Financial Corp. as the Spokane bank holding company continues its recapitalization effort.


  • Tue., May 18, 2010, midnight

    Sterling Financial names board chair

    Sterling Financial Corp. on Monday announced the appointment of a former Wells Fargo & Co. executive as chairman of the board. The appointment of Leslie “Les” Biller must be approved …

Blogposts


  • Tue., Jan. 18, 2011, 11:46 a.m.

    Full resume: Before Sterling, Ezra Eckhardt worked in tech, manufacturing

    To add just a bit more focus to the post below about Ezra Eckhardt speaking at the next Greater Spokane Inc. event, here’s some more bio on the featured guest. …


  • Tue., Jan. 18, 2011, 8:27 a.m.

    Eckhardt to discuss Sterling’s recapitalization

    Ezra A. Eckhardt, president and chief operating officer of Sterling Savings Bank, will visit Greater Spokane Incorporated this week to talk about how he helped lead the bank’s recapitalization project. …


  • Wed., Dec. 29, 2010, 10 a.m.

    Reward for tips on armed bank robber

    Detectives are hoping for fresh clues in an armed bank robbery Dec. 2 in Spokane Valley. A gunman demanded cash from two tellers at Sterling Savings Bank, 11205 E. Sprague …


  • Tue., Dec. 28, 2010, 3:10 p.m.

    SPD nabs Tri-Cities bank heist suspect

    Patrol officers arrested a suspected bank robber Monday night after detectives in the Tri-Cities tracked him to northwest Spokane. John T. Walker, 22, was arrested as he fled from a …


  • Fri., Dec. 3, 2010, 8:52 a.m.

    Bank robbery update

    No arrest has been made in yesterday’s bank robbery. A K9 team was unable to track the suspect and people in a home that drew police’s attention for a time …


  • Thu., Dec. 2, 2010, 2:34 p.m.

    Bank robbery near Sprague and Bowdish

    The Sterling Savings bank near Sprague and Bowdish was robbed just before 2:30 p.m. Police are flooding the area. Dispatchers say the suspect is discribed as a white male, age …


  • Mon., Aug. 30, 2010, 10:21 a.m.

    New Sterling chairman paid $1.5 million

    New Sterling Financial Corp. Chairman Les Biller was paid $1.5 million to accept the position, and will receive a total $4.5 million by Dec. 31, 2012, unless he resigns.Biller’s compensation …


  • Thu., Aug. 26, 2010, 2:02 p.m.

    Sterling completes recapitalization

    Sterling Financial Corp. has completed the $730 million recapitalization plan announced last week.The money from a mixture of institutional and individual investors will bring the parent of Sterling Savings Bank …


  • Tue., July 27, 2010, 2:18 p.m.

    Sterling narrows losses

    Sterling Financial Corp. today reported a second-quarter loss of $58.2 million, including a $70.8 million allowance for credit losses.A year ago, the Spokane bank reported a net loss of $33.9 …


  • Wed., May 26, 2010, 11:21 a.m.

    Treasury OKs Sterling investments

    The U.S. Treasury has approved agreements that will inject almost $280 million in private equity investment into Sterling Financial Corp.Warburg Pincus Private Equity X, L.P. and Thomas H. Lee Partners …


  • Mon., May 24, 2010, 9:05 a.m.

    Sterling adds investor

    A Wall Street private equity firm has agreed to invest $139 million in Sterling Financial Corp. as the Spokane bank holding company continues its recapitalization effort.Warburg Pincus Private Equity X, …


  • Mon., May 17, 2010, 9:43 a.m.

    Sterling announces new chairman

    Sterling Financial Corp. today announced the appointment of a former Wells Fargo & Co. executive as chairman of the board.The appintment of Leslie “Les” S. Biller must be approved by …


  • Thu., May 13, 2010, 5:46 p.m.

    Bank robbery suspect: Voices made me do it

    A man accused of robbing a downtown Spokane bank told police voices in his head told him to commit the crime, according to court documents prepared by detectives.It’s not the …


  • Wed., May 12, 2010, 11:28 a.m.

    Area companies recognized for community service

    The Association of Washington Business Tuesday recognized the volunteerism and community service efforts of 21 Washington companies, including five based in Eastern Washington.The Spokane-area corporate winners were: Associated Industries, for …


  • Mon., May 3, 2010, 10:55 a.m.

    Sterling recapitalization plan nears completion

    Sterling Financial Corp. today announced new investments that could fulfill the Spokane institution’s need for additional capital.Thomas H. Lee Partners, which last week committed $134 million to the recapitalization effort, …


  • Thu., April 29, 2010, 2:24 p.m.

    Treasury consents to Sterling terms

    The U.S. Treasury will accept a steep markdown of its investment in Sterling Financial Corp. as part of a recapitalization plan, the Spokane company announced today.The markdown was a condition …


  • Tue., April 27, 2010, 10:28 a.m.

    Sterling announces private investment, other steps to meet federal requirements

    A Boston private equity firm will invest $134.7 million in struggling Sterling Financial Corp. as part of the Spokane company’s ongoing efforts to raise enough money to meet requirements imposed …


  • Fri., April 23, 2010, 2:42 p.m.

    Sterling stock rockets

    Shares of Sterling Financial Corp. climbed more than 65 percent Friday on trading volume 15 times normal.The stock, which closed at 87 cents Thursday, finished the Friday trading day at …


  • Thu., April 15, 2010, 11:16 a.m.

    Sterling adopts rights plan

    Sterling Financial Corp. has implemented a shareholder rights plan to protect tax assets accumulated as it reported substantial operating and capital losses in recent quarters.The assets, $269 million, can be …


  • Wed., March 31, 2010, 4:17 p.m.

    Sterling Financial extends repurchase deadline

    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 …