Sterling Financial 4Q 2013 earnings
Spokane-based commercial bank
| Stock Symbol: STSA |
| Reporting period: 4Q 2013 |
| Earnings:
Profit of $22 million 35 cents per share
Versus 4Q 2012: Profit of $20.9 million 33 cents per share |
| Deposits: $7.04 billion. During 2013 deposits increased 10 percent. |
| Assets: $10.3 billion. Nonperforming assets were 1.2 percent of total assets. |
| Analysis: For fiscal 2013, Sterling recorded net income of $93.6 million, or $1.48 per common share, compared to $385.7 million, or $6.14 per common share, for 2012. The 2012 annual net income included a one-time income tax benefit of $292 million associated with the release of a deferred tax asset valuation allowance. |