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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  • Sterling revamps executive lineup

    Sterling Financial Corp. on Wednesday announced the appointment of a new executive team and the departures of longtime Chairman Harold Gilkey and Heidi Stanley, chairwoman of the subsidiary Sterling Savings …


  • A time to save

    More Americans are trying to save money as they contend with the recession, and Spokane residents are no different. But officials at local financial institutions, social service and counseling agencies …


  • Road still bumpy for area banks, leader says

    Five Eastern Washington banks serving Spokane have lost nearly $750 million since 2007, and bad loans will keep the pressure on the banks for the foreseeable future, the president of …


  • Interest payments on notes deferred

    Spokane-based Sterling Financial Corp. saw its stock price drop more than 20 percent Thursday after announcing it would defer paying interest on outstanding junior subordinated notes. The holding company for …


  • Sterling reports $29.5M net loss

    Sterling Financial Corp. Thursday reported a second-quarter net loss of $29.5 million as loan losses, expenses related to managing non-performing real estate and increased Federal Deposit Insurance Corp. premiums more …


  • Sterling closes food court area for remodeling of headquarters

    Sterling Financial Corp. has walled off the former food court occupying the second floor of its downtown headquarters so crews can begin remodeling the 12,500-square-foot space. The pedestrian corridor still …


  • Sterling Financial reports quarterly loss

    Sterling Financial Corp. on Thursday reported a $20.4 million loss for the first quarter as substantial credit write-offs continued to take a toll. For holders of Sterling common shares, the …


  • Heating up the home market

    Sterling Savings Bank and Banner Bank are offering mortgages at interest rates below 4 percent in a pair of programs designed to help their contractor customers move unoccupied homes – …


  • Lenders react with bit of optimism

    With pages of details yet to be digested, Spokane-area lenders and researchers reacted cautiously Wednesday to the Obama administration’s foreclosure-prevention proposal. The Treasury Department estimates as many as 9 million …


  • More banks considered at-risk

    SAN FRANCISCO – More than 1,000 banks may fail during the next three to five years as the recession intensifies and loan losses climb, an analyst at RBC Capital Markets …


  • Sterling stock rallies despite $356 million quarterly loss

    Sterling Financial Corp. stock rallied Tuesday despite earnings savaged by huge losses in the Spokane bank’s construction loan portfolio. In an after-hours release, Sterling reported a net loss for fourth-quarter …


  • Sterling suspends dividend payments

    Sterling Financial Corp. Tuesday said it will report a loss for 2008, and the Spokane-based bank has suspended payment of the dividend on its common stock “until economic conditions improve.” …


  • Teck Cominco to cut 1,400 jobs

    Teck Cominco Limited will cut its global work force by about 1,400 positions, or 13 percent, to reduce costs in the face of persistently weak commodity prices, officials said Thursday. …


  • Bailout needs to trickle all the way down

    There’s something to be said for a yearlong hiatus as business columnist: 2008? Not my fault. But certainly a missed opportunity, because the past 12 months were such a target-rich …


  • Sterling sells stock to U.S. Treasury

    The parent company of Sterling Savings Bank closed a deal that will bring the corporation $303 million from the U.S. Treasury. Sterling Financial Corp. sold to the Treasury department 303,000 …


  • Sterling could net $303 million from bailout fund

    Spokane’s Sterling Financial Corp. will receive $303 million from the U.S. Treasury if a tentative deal announced Monday closes. The investment, one of dozens approved or pending as the Treasury …


  • Sterling’s profits hurt by problem loans

    Problems with residential construction loans continue to sap earnings at Sterling Financial Corp. The Spokane-based bank Tuesday reported a third-quarter profit of $5 million, or 10 cents per share, compared …


  • Banks seek to reassure depositors

    With global financial institutions failing and trillions in investor dollars evaporating, Inland Northwest banks and credit unions are reassuring depositors their money is safe, and many are offering high-interest certificates …


  • Area banks weathering the storm

    Wall Street credit woes have not yet filtered down to Riverside Avenue in Spokane or Sherman Avenue in Coeur d’Alene, Inland Northwest financial leaders said last week. Loans for restaurants, …


  • Housing loans bite regional banks

    The demise of Sullivan Homes and resignation of AmericanWest Bancorporation’s CEO have brought to Spokane’s front door the housing and banking crises that are feeding off each other all over …


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