Sterling Financial Corporation · Spokane, WA United States ·(NASDAQ (GS): STSA)
Company Description
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This link will open in a new window Sterling Financial has a reputation to uphold. The firm (unrelated to the Pennsylvania company of the same name) is the holding company for Sterling Savings Bank, which provides standard retail banking services through about 180 branches in California, Idaho, Montana, Oregon, and Washington. Construction loans make up about 30% of the company's loan portfolio, while commercial operating loans make up another 30%. The bank also writes other commercial and consumer loans. Its wealth management division markets stocks, bonds, mutual funds, annuities, and other investments to bank customers. To read the full description, subscribe now.
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Key Sterling Financial Corporation Financials
| Company Type | Public - NASDAQ (GS): STSA Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $431.7 |
| 2008 Employees | 2,481 |
Sterling Financial Corporation Executives
28 executives listed for Sterling Financial Corporation's Spokane, WA location.
| Title | Name & Bio | Contact |
| Chairman | William Eisenhart | Network |
| Acting President and CEO, Sterling Financial and Acting CEO, Sterling Savings Bank | J. Gregory Seibly | Network |
| Acting COO, Sterling Financial and Acting President, Sterling Savings Bank | Ezra Eckhardt | Network |
Competition
Competitive Landscape for Sterling Financial Corporation
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top Sterling Financial Corporation Competitors
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