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Stories tagged: Sterling Financial


  • Former Sterling Financial CEO suing for discrimination

    Heidi Stanley, who for two decades helped build Sterling Financial into a Northwest banking powerhouse and rose to chief executive officer, accuses two subordinates of leveraging her struggle with breast …


  • Sterling Financial, Umpqua Holdings to merge

    Sterling Financial Corp., the highest-valued publicly traded corporation headquartered in Spokane and one of the city’s largest employers, is merging with Umpqua Holdings Corp. of Portland. Sterling branches will be …


  • It’s official: Sterling Financial being bought for $2 billion

    Umpqua Holdings Corporation and Sterling Financial Corporation announced today that they have entered into a definitive agreement pursuant to which Sterling will merge with and into Umpqua. The transaction will …


  • Area companies post solid year collectively

    The tracking index for 15 publicly traded Inland Northwest companies ended a good year with a mild dip in the fourth quarter. The Hart Capital Inland Northwest Index lost 3.2 …


  • Area companies beat S&P, Russell

    Inland Northwest companies had a strong quarter from July through September. The Hart Capital Inland Northwest Index grew 14.3 percent in the third quarter. That’s dramatically better than the S&P …


  • U.S. selling Sterling shares

    The U.S. Treasury on Wednesday priced the sale of more than 5 million shares of Sterling Financial Corp. stock, which would net about $113 million in repayment for Troubled Asset …


  • Sterling to consolidate in Crescent Court space

    Sterling Savings Bank will take over the vacant sixth floor of the downtown Spokane Crescent Court office building next month. Sterling will use the space to consolidate some of its …


  • McMorris Rodgers blasts TARP

    Rep. Cathy McMorris Rodgers launched her re-election bid this week with familiar criticism of big-government programs – including one that is widely credited with saving hundreds of good-paying jobs in …


  • Sterling Financial to cut 6 percent of workforce

    Sterling Financial Corp. is laying off 6 percent of its employees this winter.


  • 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 …


  • 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 …


  • 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.


  • 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.


  • 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 …


  • 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 …


  • 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 …


  • Sterling completes recapitalization plan

    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 Spokane-based parent of Sterling …


  • 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 …


  • 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 …


  • 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 …


  • 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 …


  • 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’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 …


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