BNET Industries

Market Cap:$30.8M
Last Fiscal Year Sales:$863.6M
  • Public
  • US
Dow Jones Description

State-Chartered Savings & Loan Holding Company

Chairman & CEO
Harold B. Gilkey
Number of Employees 2,481
Contact Information

111 N Wall St

Spokane, Washington 99201-0609

www.sterlingsav...

(509) 458-3711

NAICS Code Commercial Banking: 522110

Recent Events

  • Archive Latest whammy for state's banks: commercial loans

    10/23/09 - New Investment - View Story

  • Archive Sterling Savings ordered to clean house, raise $300 million

    10/23/09 - Mgmt. Change Entering - CEO - View Story

  • Deal requires Sterling Financial to raise $300M

    10/15/09 - Board Member - Leaving - View Story

  • Latest whammy for state's banks: commercial loans

    10/16/09 - New Investment - View Story

  • Sterling Financial must raise money

    10/15/09 - Board Member - Leaving - View Story

  • Sterling Savings ordered to clean house, raise $300 million

    10/15/09 - Mgmt. Change Entering - CEO - View Story

  • Sterling Financial names chairman

    10/15/09 - Board Member - Entering - View Story

  • Bank Watch: Two Repeat Bank Watch Institutions Fail

    8/26/09 - Bond / Stock Rating - View Story

  • Sterling Financial Corporation of Spokane, Washington, Announces Deferral of Interest Payments on Trust Preferred Securities...

    8/19/09 - Stock Split / Dividend - View Story

News & Analysis

sterling financial corp. - All News and Analysis

Decision Makers

Name (plus bio) Position
William W. Zuppe President & COO
Daniel G. Byrne Executive Vice President & Assistant Secretary
Jeffery Schlenker Senior Vice President, Harbor Financial Services
Bridget Piper Vice President, Corp Development
Carolyn Gay Vice President & Controller
Cindy Parker Vice President, Info Sys
David P. Bobbitt Vice President, Banking
Debby Ogan Vice President, HR
Jim Kirschbaum Vice President
John M. Harlow Vice President
John Mielock Vice President, Facilities Purchasing
Liz Stebbins Vice President, Marketing
Norman L. Judd Vice President & Assistant Treasurer
Stanton C. Parrish Vice President
William R. Basom Vice President & Treasurer
Stephen L. Page Executive Vice President, Portfolio Manager, Sterling
Alan D Hubka
Gary Mattozzi
Jeff Coats
Larry Conley
Lee Graeve
Leonard A Crosby
Ned M. Barnes Secretary
Ted Sprott

Board of Directors

Name (plus bio) Position
Harold B. Gilkey Chairman & CEO
Donald J. Lukes Board of Directors
Donald N. Bauhofer Board of Directors
Heidi B. Stanley Vice Chairman
James P. Fugate Board of Directors
Robert D. Larrabee Board of Directors
Rodney W. Barnett Board of Directors
William L. Eisenhart Board of Directors

Mr. Gilkey has served as Chairman of the Board and Chief Executive Officer (“CEO”) of Sterling since its inception in 1992, as President of Sterling since February 2008, and served as Chairman of the Board and CEO of Sterling’s wholly owned subsidiary, Sterling Savings Bank (“Sterling Savings”) from its inception in 1981 until October 2003, and continues to serve as a Director of Sterling Savings. Mr. Gilkey co-founded Sterling Savings in 1981. Additionally, he is Chairman of the Board and CEO of Golf Savings Bank, a subsidiary of Sterling, and a Director of INTERVEST-Mortgage Investment Company (“INTERVEST”), a wholly owned subsidiary of Sterling Savings. Mr. Gilkey brought to Sterling Savings over 20 years of commercial and mortgage banking experience. He served as President of Bancshares Mortgage Company of Spokane, Washington, and Senior Vice President of Old National Bank of Spokane, Washington. Prior to that, Mr. Gilkey was employed by Bank of America for 12 years. Mr. Gilkey serves on the Federal Home Loan Bank of Seattle Board of Directors. Mr. Gilkey is a past Director of the Washington Savings League and Chairman of the Savings Association Insurance Fund Industry Advisory Committee, an advisory committee of the Federal Deposit Insurance Corporation. Mr. Gilkey received a Bachelor’s degree in Business Administration from the University of Montana in 1962 and a Master of Business Administration degree from the University of Southern California in 1970. His term will expire in 2011.

Organization Position Status
Sterling Financial Corporation Chairman & CEO Current

Mr. Zuppe has served as a Director of Sterling since its inception and served as Chairman and as a member of the Board of Sterling Savings from October 2003 until January 2009. Mr. Zuppe served as President and Chief Operating Officer of Sterling since its inception until December 2007 and served as Director, President and Chief Operating Officer of Sterling Savings from 1981 until October 2003, when he was promoted to lead Sterling Savings as Chairman of the Board and Chief Executive Officer. Mr. Zuppe co-founded Sterling Savings in 1981. Mr. Zuppe also served on the Board of Directors of Golf Savings Bank from July 2006 until December 2007. Mr. Zuppe brought to Sterling Savings 18 years of mortgage lending experience as Vice President of Bancshares Mortgage Company and Manager of Loan Administration of Sherwood & Roberts, Inc. of Walla Walla, Washington, a mortgage banking company. Mr. Zuppe is past Chairman of the Board for America’s Community Bankers, a national trade association. He is past Chairman of the Washington Savings League Board of Directors and past member of the Federal Reserve Board — Thrift Institutions Advisory Council. His term will expire in 2010.

Organization Position Status
Sterling Financial Corporation President & COO Current
Sterling Financial Corporation Board of Directors Current
Sterling Savings Bank Chairman & CEO Former

Mr. Byrne serves as Executive Vice President-Finance, Chief Financial Officer and Assistant Secretary of Sterling and Assistant Secretary of Sterling Savings and Golf Savings Bank. He has served in these capacities with Sterling and Sterling Savings, which he joined in 1983. Mr. Byrne is also the Assistant Secretary and Treasurer of INTERVEST. Before joining Sterling, Mr. Byrne was employed by the accounting firm of Coopers & Lybrand in Spokane, Washington. He is a past Lieutenant Governor of Kiwanis International. Mr. Byrne is a past member of the Board of Trustees of Gonzaga Preparatory School, including its Executive Committee and its Finance Committee. He is President of the Board of Directors of Spokane Community Mental Health and past Chairman of the Parish Council of St. Thomas More Church. He is also a board member and Audit Committee Chairman for Ambassadors Group, Inc., a publicly traded corporation. He serves as a member of the American Institute of Certified Public Accountants, the Washington Society of Certified Public Accountants, the Financial Manager’s Society and is a past member of the American Community Bankers Association’s Accounting Committee. Mr. Byrne is a certified public accountant, and received a Bachelor’s degree in Accounting from Gonzaga University in 1977.

Organization Position Status
Sterling Financial Corporation Executive Vice President & Assistant Secretary Current
Sterling Financial Corporation Executive Vice President & Assistant Secretary Current
Sterling Savings Bank Senior Vice President Former

Organization Position Status
Sterling Financial Corporation Senior Vice President, Harbor Financial Services Current

Organization Position Status
Sterling Financial Corporation Vice President, Corp Development Current

Organization Position Status
Sterling Financial Corporation Vice President & Controller Current

Organization Position Status
Sterling Financial Corporation Vice President, Info Sys Current

Organization Position Status
Sterling Financial Corporation Vice President, Banking Current
Sterling Savings Bank Executive Vice President, Branch Admin Former

Organization Position Status
Sterling Financial Corporation Vice President, HR Current

Organization Position Status
Action Mortgage Company President Current
Sterling Financial Corporation Vice President Current

Organization Position Status
Sterling Financial Corporation Vice President Current
Intervest-Mortgage Investment Company President Former

Organization Position Status
Sterling Financial Corporation Vice President, Facilities Purchasing Current

Organization Position Status
Sterling Financial Corporation Vice President, Marketing Current

Organization Position Status
Sterling Financial Corporation Vice President & Assistant Treasurer Current

Organization Position Status
Sterling Financial Corporation Vice President Current

Organization Position Status
Sterling Financial Corporation Vice President & Treasurer Current
Sterling Financial Corporation Vice President & Treasurer Current

Organization Position Status
Sterling Savings Bank Executive Vice President & Chief Credit Officer Current
Sterling Financial Corporation Executive Vice President, Portfolio Manager, Sterling Current
Sterling Savings Bank Executive Vice President, Portfolio Manager Former

Alan Hubka has specialized in commercial real estate finance since 1973 and in the Pacific Northwest since 1979, focusing on the origination of construction and permanent loans. Prior to joining INTERVEST, he was Vice President for Wells Fargo Commercial Mortgage Finance Group and was formerly Vice President with Key Bank Commercial Real Estate Group. He served as an Income Property Loan Officer with First Interstate Bank Real Estate Group and with Ralph C. Sutro Mortgage Company/Sutro Mortgage Investment Trust (REIT) in Los Angeles, California. Alan is a graduate of Linfield College. His postgraduate studies included a Professional Designation from UCLA, MAI appraisal and mortgage banking coursework with an emphasis on commercial lending.

Organization Position Status
Sterling Financial Corporation Current

Organization Position Status
Graphicon Design Vice President, Regional Manager Current
Mason-McDuffie Financial Corporation Vice President, Regional Manager, Sacramento Current
Sterling Financial Corporation Current
General Electric Capital Corporation Former
San Jose State University Bachelor of Arts Degree In Political Science and Economics Former
Santa Clara University Former

Organization Position Status
Sterling Financial Corporation Current

Organization Position Status
Sterling Financial Corporation Current
National Mortgage Company, Inc. Vice President Former
Portland State University Associate in Science degree in Real Estate Technology Former

Organization Position Status
Sterling Financial Corporation Current
National Mortgage Company, Inc. Vice President Former

Organization Position Status
Sterling Financial Corporation Current
University of West Virginia MBA in Finance Former

Organization Position Status
Sterling Financial Corporation Secretary Current

Ted Sprott brings over 20 years of experience in real estate lending and appraisal to INTERVEST. He was formerly with Travelers Insurance and Bank of America in San Francisco. Prior to joining INTERVEST, Ted had his own firm in Boise specializing in income property loan production. He has extensive experience with both construction and permanent financing on all types of institutional-grade, income-producing properties. Ted is a graduate of the University of Nevada and received a master's degree in real estate from Golden Gate University, San Francisco.

Organization Position Status
Sterling Financial Corporation Current
Golden Gate University master's degree in real estate Former

Organization Position Status
Sterling Financial Corporation Board of Directors Current

Organization Position Status
Sterling Financial Corporation Board of Directors Current

Ms. Stanley has served as Chairman of Sterling Savings Bank since January 2009 and Chief Executive Officer since January 2008. Prior to that, she held various positions at Sterling Savings Bank, most recently as President. In addition to serving as Chairman, she also currently serves as a Director of Sterling’s subsidiary company – INTERVEST Mortgage Investment Company. In 2007, Ms. Stanley was named one of the “25 Most Powerful Women in Banking” by U.S. Banker magazine. She is currently on the Board of Directors of Avista Corporation, a diversified energy services company, headquartered in Spokane, Washington. Ms. Stanley is past Chair of Greater Spokane Incorporated, past Chair of the Association of Washington Business (AWB), and past Chair of the Spokane area YMCA. She currently serves on the Washington Roundtable; Eastern Washington Advisory Board of the Washington Policy Center; ABA Government Relations Council; American Bankers Council; and is Chair of the America’s Bankers Association (ABA) Capital Markets Working Group. Ms. Stanley received a Bachelor’s degree in Business Administration from Washington State University in 1979. Prior to joining Sterling in 1985, Ms. Stanley was employed by IBM in San Francisco, California and Tucson, Arizona.

Organization Position Status
Sterling Financial Corporation Vice Chairman Current
Sterling Financial Corporation Vice Chairman Current

Dr. Fugate has served as a Director of Sterling since 1989. He is the retired Superintendent of Auburn School District No. 408. Dr. Fugate is a former director of Central Evergreen Savings & Loan Association. He is on the Board of Governors of the Auburn Regional Medical Center and serves as the Chairman of the Board. Dr. Fugate received a Bachelor’s and Master’s degree from Central Washington State University. He received his Ph.D. from the University of Idaho in 1970. His term will expire in 2010.

Organization Position Status
Sterling Financial Corporation Board of Directors Current

Mr. Larrabee has served as a Director of Sterling since its inception and as a Director of Sterling Savings since 1983. Mr. Larrabee is the owner of Merchant Mortuary Group in Clarkston, Washington. He is also a former Director of Laurentian Capital Corporation, a former Director of Lewis and Clark Savings & Loan Association and a past President of the Board of Regents of the University of Washington. Mr. Larrabee received a degree in Mortuary Science from The California College of Mortuary Science in 1958. His term will expire in 2010.

Organization Position Status
Sterling Financial Corporation Board of Directors Current

Organization Position Status
Sterling Financial Corporation Board of Directors Current

Mr. Eisenhart has served as a Director of Sterling since his appointment in January 2004. He serves as an independent financial consultant to privately held and publicly traded companies on investment banking matters. Previously, Mr. Eisenhart was a Managing Director at Dain Bosworth, Inc., in Seattle, Washington, a Partner in Corporate Finance for Cable Howse & Ragen in Seattle, Washington, and Vice President of Corporate Finance at Goldman, Sachs & Company in New York City. Currently, he serves as a member of the Finance Committee of the YMCA of Greater Seattle, and is Co-Chair of Harvard College Schools and the Scholarship Committee of Western Washington. Mr. Eisenhart received a Bachelor’s degree from Harvard College and a Master of Business Administration degree from the University of Chicago. If reelected, his term will expire in 2010.

Organization Position Status
Sterling Financial Corporation Board of Directors Current
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     STSA $0.59 +0.02 (3.51% )
Average Volume 1,526,280
Shares Outstanding 52.21M
Market Cap 30.8M
Year High 9.18
Year Low 0.4901
Earnings Per Share -16.95
P/E Ratio -0.03
Dividend 0.40
Yield 67.81
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