Sterling Financial Corporation - Company Capsule

Document Sample
Sterling Financial Corporation - Company Capsule Powered By Docstoc
					Sterling Financial Corporation

_________________________________________________________________________________




Sterling Financial Corporation - Company
Capsule
Reference Code: FS0488CC
Published Date: April 2011




___________________________________________________________________________________________

Sterling Financial Corporation - Company Capsule                                    Page 1
Sterling Financial Corporation

__________________________________________________________________________________________


Sterling Financial Corporation - Company Overview

Sterling Financial Corporation (Sterling Financial) is one of the largest commercial bank in Washington State and one of
the largest regional community banks in the Western US. The company provides personalized, quality financial services
and banking products to its customers. Sterling Savings Bank serves more than 25,000 small and medium-sized
businesses and nearly 200,000 retail accounts throughout the Pacific Northwest in a network of branches that span from
northern California to the Canadian border and from the Pacific coast to central Montana. The company operates in 178
deposit-taking branches in Washington, Oregon, Idaho, Montana and California. The principal operating subsidiaries of
the company are Sterling Savings Bank and Golf Savings Bank. Sterling Financial is headquartered in Lancaster,
Pennsylvania, the US.


Financial Performance

The company reported interest income of US$599.35 million during the year 2009. The company's revenue declined at a
compounded rate of 11.60% during the period 2007-2009 with a year on year decline of 16.18% over fiscal year 2008.
During the fiscal year 2009, its operating margin was -135.33% as against the operating margin of -57.53% in the fiscal
year 2008. During the fiscal year 2009, the company’s net margin was -139.83% as against the net margin of-46.92% in
the fiscal year 2008.




Sterling Financial Corporation - Key Facts

Sterling Financial Corporation, Key Facts

                                  111 North Wall Street, Spokane,

Corporate Address:                Washington (WA), 99201, United Ticker Symbol, Stock          STSA (NASDAQ)
                                                                    Exchange
                                  States


Telephone                          + 1 509 4583711                  No. of Employees           2,507



Fax                                + 1 509 3586162                  Financial Year End         December


                                  www.sterlingfinancialcorporation-
URL                               spokane.com
                                                                    Revenue (in USD Million)   599.35



Industry                          Financial Services



Locations                         United States

Source: Annual Report, Company Website, Primary and Secondary Research




___________________________________________________________________________________________

Sterling Financial Corporation - Company Capsule                                                               Page 2
Sterling Financial Corporation

__________________________________________________________________________________________


Sterling Financial Corporation - Major Products and Services

Sterling Financial Corporation operates as the bank holding company for Sterling Savings Bank. Key services offered by
the company include the following:

Sterling Financial Corporation, Major Products and Services
Services:

Personal savings:

Checking accounts

Savings accounts

Personal loans

Trusts

Investment management

Business services:

Business checking

Business savings

Loans

Commercial real estate

Cash management

Merchant credit card

Brokerage

Leasing Settlements

Mortgages Investment:

Investment solutions

Insurance solutions

Personal retirement

Business retirement

Commercial mortgage:

Permanent lending

Construction lending
Source: Annual Report, Company Website, Primary and Secondary Research




___________________________________________________________________________________________

Sterling Financial Corporation - Company Capsule                                                                Page 3
Sterling Financial Corporation

__________________________________________________________________________________________


Sterling Financial Corporation - Key Competitors

The following companies are the major competitors of Sterling Financial Corporation:

Hudson City Bancorp, Inc.

Northwest Bancorp, Inc.

Sovereign Bancorp, Inc.

Tamalpais Bancorp

Washington Mutual, Inc.

Horizon Financial Corp

U.S. Bancorp Community Development Corporation




___________________________________________________________________________________________

Sterling Financial Corporation - Company Capsule                                       Page 4
Sterling Financial Corporation

__________________________________________________________________________________________


Sterling Financial Corporation - Key Employees


Sterling Financial Corporation, Key Employees


           Name                            Job Title                      Board Level     Since   Age

                           Assistant Secretary, Chief Financial
Daniel G. Byrne            Officer, Executive Vice President -      Senior Management     1983    56
                           finance

David A. Coulter           Director                                 Non Executive Board   2010    63


                           Senior Executive Vice President - Golf
Donn C. Costa                                                       Senior Management             47
                           Savings Bank


Ellen R.M. Boyer           Director                                 Non Executive Board   2007    50

                           Chief Operating Officer - Sterling
Ezra A. Eckhardt           Savings Bank, President - Sterling       Executive Board       2009    40
                           Savings Bank
                           Chief Operating Officer - Sterling
Ezra A. Eckhardt           Savings Bank, President - Sterling       Senior Management     2009    40
                           Savings Bank
                           Director - Sterling Savings and Golf
J. Gregory Seibly          Savings Bank, President - Sterling       Executive Board       2009    47
                           Savings Bank, Chief Executive Officer
                           Director - Sterling Savings and Golf
J. Gregory Seibly          Savings Bank, President - Sterling       Senior Management     2009    47
                           Savings Bank, Chief Executive Officer

Leslie S. Biller           Chairman                                 Non Executive Board   2010


Michael F. Reuling         Director                                 Non Executive Board   2006    64


Robert C. Donegan          Director                                 Non Executive Board   2010    56


Robert H. Hartheimer       Director                                 Non Executive Board   2010    53


Scott L. Jaeckel           Director                                 Non Executive Board   2010    40


William L. Eisenhart       Director                                 Non Executive Board   2010    58

Source: Annual Report, Company Website, Primary and Secondary Research




___________________________________________________________________________________________

Sterling Financial Corporation - Company Capsule                                                       Page 5
Sterling Financial Corporation

__________________________________________________________________________________________


Sterling Financial Corporation - Locations and Subsidiaries

Head Office

Sterling Financial Corporation
111 North Wall Street
Spokane
Washington (WA)
Zip: 99201
United States
Tel: + 1 509 4583711
Fax: + 1 509 3586162



Other Locations & Subsidiaries

Sterling Financial Corporation, Subsidiaries

Golf Savings Bank                                           
				
DOCUMENT INFO
Description: ICD Research's ‘Sterling Financial Corporation - Company Capsule’ is a crucial resource for industry executives and anyone looking to access key information about “Sterling Financial Corporation ICD Research's ‘Sterling Financial Corporation - Company Capsule’ reports utilize a wide range of primary and secondary sources, which are analyzed and presented in a consistent and easily accessible format. ICD Research strictly follows a standardized research methodology to ensure high levels of data quality and these characteristics guarantee a unique report.
BUY THIS DOCUMENT NOW PRICE: $75 100% MONEY BACK GUARANTEED
PARTNER ICD Research
With emphasis on Insight, Consultancy and Delivery, iCD Research is a full-service, online market research agency. iCD Research is able to take advantage of all of the efficiencies and benefits that the Internet brings to offer proven research methodologies with fast turnaround and accurate results. iCD Research specialises in qualitative research for large finance, media, retail and entertainment clients. Market leaders in online focus groups, iCD Research has unleashed the full scale of the Internet to run focus groups across the globe for its major institutional clients. Utilising its sister organisation, The iD Factor, iCD Research also delivers strong quantitative research, ranging from ongoing consumer confidence studies through to consumer surveys throughout Europe and Asia. With its roots firmly in research, iCD Research doesn’t limit itself to only utilising online methods as the philosophy at the company is to match the methodology to the respondent. Yet the scale and speed of online research give iCD Research a cutting edge that has lead to tremendous, triple-figure percentage growth over the past two years. iCD Research is headquartered in London, with operational offices in the US and Australia to ensure that it is offering an unparalleled 24 hour service to its clients.