Sterling Financial Corporation Announces David S. DePillo Appointed as Vice Chairman

  Sterling Financial Corporation Announces David S. DePillo Appointed as Vice
  Chairman

Business Wire

SPOKANE, Wash. -- July 26, 2012

Sterling Financial Corporation (NASDAQ: STSA) today announced that David S.
DePillo has been appointed to the newly created executive position of vice
chairman of Sterling Financial Corporation and its wholly owned subsidiary,
Sterling Bank.

Greg Seibly, president and CEO of Sterling Financial Corporation, said, “Dave
DePillo has been an integral part of the Sterling team since 2010. This
appointment provides further recognition of the significant contributions that
Dave has made as we have repositioned Sterling. Dave’s role and leadership
will continue to be critical as we work to become one of America’s great
community banks.”

DePillo has more than 25 years of banking, financial management and investment
experience. He joined Sterling in October 2010 as chief credit officer and
transitioned to chief lending officer in March 2012.

Previously, DePillo served as the vice chairman of the board of Fremont
General Corporation (FGC), a financial services holding company, and of
Fremont Investment & Loan, its wholly owned bank subsidiary. From November
2007 to September 2009, he was the president of both companies. From 1999
through 2006, DePillo served as the vice chairman, president and chief
operating officer of Commercial Capital Bancorp Inc. (CCBI) and CCBI's
subsidiary companies. From 1991 to 1998, DePillo served as the first vice
president and director of multifamily banking for Home Savings of America, and
as the president and chief operating officer of its real estate development
subsidiaries and for its thrift holding company, H.F. Ahmanson & Co.

About Sterling Financial Corporation

Sterling Financial Corporation (NASDAQ:STSA) of Spokane, Wash., is the bank
holding company for Sterling Savings Bank, a Washington state chartered and
federally insured commercial bank. Sterling Savings Bank does business as
Sterling Bank, First Independent Bank and Sonoma Bank (in California).
Sterling offers banking products and services, mortgage lending, and trust and
investment products to individuals, small businesses, corporations and other
commercial organizations. As of March 31, 2012, Sterling had assets of $9.5
billion and operated 189 depository branches in Washington, Oregon, Idaho,
Montana and California. Visit Sterling’s website at www.bankwithsterling.com.

Contact:

Sterling Financial Corporation
Media contact:
Cara L. Coon, 509-626-5348
cara.coon@bankwithsterling.com
or
Investor contact:
509-227-0961
 
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