Sterling Financial Corporation Completes Acquisition of Commerce National Bank

  Sterling Financial Corporation Completes Acquisition of Commerce National
  Bank

 Transaction expands Sterling’s presence in the Orange County Market and also
                  adds equipment lease financing operations

Business Wire

SPOKANE, Wash. -- October 2, 2013

Sterling Financial Corporation (NASDAQ:STSA) (the “Company”) today announced
the completion of its acquisition of Commerce National Bank (“CNB”) for total
cash consideration of $42.9 million. Immediately following completion of the
acquisition, CNB was merged with and into the Company’s principal operating
subsidiary, Sterling Savings Bank.

David DePillo, the Company’s vice chairman and chief lending officer,
commented, “Commerce National Bank provides us with a solid foundation for
expanding our business banking delivery capabilities in the Orange County
market.” DePillo added, “This foundation includes the portfolio of high
quality commercial customers and the highly experienced bankers who serve
them, along with a commercial equipment leasing platform.”

About Sterling Financial Corporation

Sterling Financial Corporation (NASDAQ:STSA) of Spokane, Washington, 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 outside of California and as Argent Bank and Commerce National
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 June 30, 2013, Sterling
Financial Corporation had assets of $9.94 billion and operated depository
branches in Washington, Oregon, Idaho and California. Visit Sterling Financial
Corporation’s website at www.sterlingfinancialcorporation.com.

Forward-Looking Statements

Certain statements in this press release, including, without limitation,
statements as to the beliefs, expectations or opinions of the Company’s
management with respect to the CNB acquisition, and all other statements in
this press release, other than historical facts, are“forward-looking
statements” and are intended to be covered by the safe harbor provided by the
Private Securities Litigation Reform Act of 1995. When used in this release,
the words “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,”
“estimates” and similar expressions are generally intended to identify
forward-looking statements. Actual results may differ materially from the
results discussed in these forward-looking statements because such statements
are inherently subject to significant assumptions, risks and uncertainties,
many of which are difficult to predict and are generally beyond the Company's
control. These risks anduncertaintiesinclude, but are not limited to, the
ability of the Companyto realize the expected benefits and synergies of the
CNB acquisition. Other factors that could cause actual conditions, events or
results to differ significantly from those described in the forward-looking
statements may be found under the headings “Risk Factors” and “Management’s
Discussion and Analysis of Financial Condition and Results of Operations” in
the Company's Annual Report on Form 10-K, as updated periodically in the
Company's periodic filings with the Securities and Exchange Commission, which
are available online at www.sec.gov. The Company disclaims any intent or
obligation to publicly update or revise any forward-looking statements,
regardless of whether new information becomes available, future developments
occur or otherwise.

Contact:

Sterling Financial Corporation
Media:
Cara L. Coon, 509-626-5348
cara.coon@bankwithsterling.com
or
Investors:
Patrick Rusnak, 509-227-0961
patrick.rusnak@bankwithsterling.com
 
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