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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  • Reputations invested in Sterling are as good as money

    Two important partners last week joined the Sterling Financial Corp. recapitalization effort. When it comes to brands, it’s hard to top the U.S. Department of the Treasury.


  • Treasury accepts Sterling discount

    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 Thursday. The markdown was a …


  • Boston equity firm invests $134.7 million in Sterling

    Thomas H. Lee Partners, a Boston private equity firm, will invest $134.7 million in struggling Sterling Financial Corp. as part of the Spokane bank-holding company’s ongoing effort to raise enough …


  • Sterling announces new investor, quarterly loss

    Sterling Financial Corp. said today a Boston-based private equity firm would invest $135 million in the struggling Spokane banking company. Sterling also announced a loss of $88.8 million, or $1.71 …


  • Sterling stock rockets

    Shares of Sterling Financial Corp. climbed more than 65 percent today on trading volume 15 times normal.


  • Treasury offers hand to Sterling

    Sterling Financial Corp. on Tuesday announced tentative agreements with the U.S. Treasury and a potential investor that will determine whether the bank holding company remains an independent Spokane business and …


  • Feds offer Sterling a break to help it stay in business

    The U.S. government is giving Sterling Financial Corp. a break on the $303 million the Spokane bank-holding company owes it in an effort to help Sterling attract new investors and …


  • Worker-friendly firms lauded

    Six Spokane-area businesses and nonprofits were among 18 saluted last week by the Association for Washington Business for their outstanding commitment to employees. Companies were nominated for training, safety and …


  • Sterling begins recapitalization

    Sterling Financial Corp. will have a recapitalization plan in place, or nearly so, by the end of March, bank executives said Monday. The clock started Monday on a key step …


  • Sterling Financial reports big losses for 2009

    Writedowns on its loan portfolio resulted in large losses for Sterling Financial Corp. in the fourth quarter and all of 2009.


  • Trolls lurk near financial hardship

    Corey Deter sued Sterling Financial Corp. on Jan. 11. The suit was dismissed Jan. 21.


  • Sterling sued over bank’s 401(k) plan

    A former Sterling Financial Corp. employee has sued the Spokane financial institution alleging administrators of its 401(k) plan imprudently invested as much as 20 percent of plan assets in company …


  • Local economy didn’t escape the downturn

    The economy cast a long shadow over everything in 2009. The recession and efforts at recovery set the scene for top business news in the Inland Northwest, from the shaky …


  • Investors accuse Sterling of hiding financial troubles

    A lawsuit filed Friday accuses Sterling Financial Corp. and two officers of concealing the Spokane company’s vulnerability to the downturn in residential and real estate markets, which when disclosed a …


  • Sterling Savings to miss deadline

    Sterling Financial Corp. Chief Executive Officer Greg Seibly said it will probably be the first quarter of 2010 before subsidiary Sterling Savings Bank raises $300 million in new capital. Federal …


  • Sterling’s loss near half-billion

    Sterling Financial Corp. on Thursday reported a huge third-quarter loss of $463.7 million as it closes out the books on almost a decade of acquisitions that made the Spokane institution …


  • Sterling loss closes out the books on decade of expansion

    Sterling Financial Corp. Thursday reported a huge third-quarter loss of $463.7 million, in the process closing out the books on almost a decade of acquisitions that made the Spokane institution …


  • Bert Caldwell: Bank survival is essential for community

    Banking regulators have become the process servers for a sick Washington economy, delivering orders and memorandums commanding financial directors, chief executive officers and other executives to clean up their institutions. …


  • Sterling execs hopeful

    A day after Sterling Financial Corp.’s longtime leaders were ousted, the company’s new executives say they’re confident subsidiary Sterling Savings Bank can raise $300 million and meet other demands contained …


  • Sterlings’ new execs say situation “manageable”

    A day after Sterling Financial Corp.’s longtime leaders were ousted, the company’s new executives say they’re confident subsidiary Sterling Savings Bank can raise $300 million and meet other demands contained …


  • Sterling Savings Bank … more to the story

    Good morning, Netizens… The local news media is absolutely astir over the situation involving Sterling Financial Corporation. It all started late Wednesday when the Federal Deposit Insurance Corp and the …

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