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  • 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 …


  • 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 …


  • Q and A: Sterling’s next steps

    Q. What do regulators want Sterling Financial to do? A. The biggest requirement calls for the bank holding company to raise $300 million within 60 days.


  • 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 …


  • 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 …


  • 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 …


  • Sterling reports earnings rise

    Sterling Financial Corp. on Tuesday reported second-quarter earnings off substantially from 2007 but an improvement on first-quarter numbers. In a report issued after markets closed, the Spokane-based bank said it …


  • Justice Department to appeal Sterling ruling

    Attorneys from the U.S. Department of Justice have notified the U.S. Court of Federal Appeals they will appeal a Feb. 19 decision that awarded Sterling Financial Corp. barely $1 million …


  • Business in brief: Sterling posts lower earnings

    Sterling Financial Corp. Monday released earnings that reflected a downbeat forecast announced less than two weeks ago. The parent of Sterling Savings earned just $2.9 million for the first quarter, …


  • Sterling’s earnings hit by home-loan woes

    Sterling Financial Corp. announced Thursday that its first-quarter earnings will fall far short of earlier projections largely because it set aside $35 million to $40 million to cover potential loan …


  • Sterling wins suit against feds

    Sterling Financial Corp. this week was awarded barely more than $1 million in damages from the federal government, a small fraction of the amount sought by the Spokane bank and …


  • Sterling gives final numbers

    Sterling Financial Corp. Monday reported that a $13 million provision for loan losses dragged results for the year and fourth-quarter 2007 below the levels for 2006 on a per-share basis. …


  • Bert Caldwell: Sterling loses a little bit of its merger luster

    Sterling Financial Corp. lost one to the regulators last week. After rolling up more than 20 other financial institutions in a 22-year-long growth spurt, officials at the Spokane bank announced …


  • Sterling Financial deal falls through

    Sterling Financial Corp.’s plans to buy North Valley Bancorp of Redding, Calif., have fallen through, the Spokane-based company announced in a news release Monday. Sterling received notice that North Valley …


  • Sterling job

    William Zuppe, retiring co-founder and chief executive officer of Sterling Savings Bank, has a hint of daredevil in him. Earlier this month, he treated a childhood friend to a ride …


  • Sterling picks Heidi Stanley as new CEO

    Heidi Stanley has been appointed president and chief executive officer of Sterling Savings Bank. Her appointment will follow the Dec. 31 retirement of William Zuppe, who founded the Spokane bank …

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