Sterling Financial Corporation Announces Cash Dividend

  Sterling Financial Corporation Announces Cash Dividend

Business Wire

SPOKANE, Wash. -- March 19, 2014

Sterling Financial Corporation (NASDAQ:STSA) (“Sterling”) today announced that
its Board of Directors approved a quarterly cash dividend of $0.20 per common
share. The dividend is payable on April 15, 2014, to shareholders of record as
of April 1, 2014.

The timing for the payment of this dividend is being accelerated in accordance
with the Agreement and Plan of Merger (“Merger Agreement”) between Sterling
and Umpqua Holdings Corporation (“Umpqua”) in order to ensure that Sterling
shareholders receive the same number of dividends as Umpqua shareholders for
each quarter between execution of the Merger Agreement and completion of the
merger, which is currently expected to occur during the second quarter of
2014, subject to regulatory approval and the satisfaction of customary closing
conditions.

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 in California, offering
banking products and services, mortgage lending, and trust and investment
products to individuals, small businesses, corporations and other commercial
organizations. As of December 31, 2013, Sterling Financial Corporation had
assets of $10.32 billion and operated depository branches in Washington,
Oregon, Idaho and California. Visit Sterling Financial Corporation’s website
at www.sterlingfinancialcorporation.com.

Cautionary Statement Regarding Forward-Looking Statements

This document contains certain “forward-looking statements” within the meaning
of the safe harbor provisions of the United States Private Securities
Litigation Reform Act of 1995. Forward-looking statements may be identified by
the use of words such as “anticipate,” “may,” “can,” “believe,” “expect,”
“project,” “intend,” “likely,” “plan,” “seek,” “should,” “would,” “estimate”
and similar expressions and any other statements that predict or indicate
future events or trends or that are not statements of historical facts. These
forward-looking statements are subject to numerous risks and uncertainties.
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 Sterling’s and Umpqua’s control. These
risks and uncertainties include, but are not limited to, the following: risk
that a regulatory approval that may be required for the proposed merger is not
obtained or is obtained subject to conditions that are not anticipated, the
timing to consummate the proposed merger and the risk that a condition to
closing of the proposed merger may not be satisfied. Sterling and Umpqua
undertake no obligation (and expressly disclaim any such obligation) to
publicly update or revise any forward-looking statement, whether as a result
of new information, future events or otherwise. For additional information
concerning factors that could cause actual conditions, events or results to
materially differ from those described in the forward-looking statements,
please refer to the factors set forth under the headings “Risk Factors” and
“Management’s Discussion and Analysis of Financial Condition and Results of
Operations” in Umpqua’s and Sterling’s most recent Form 10-K and 10-Q reports
and to Sterling’s and Umpqua’s most recent Form 8-K reports, which are
available online at www.sec.gov. No assurances can be given that any of the
events anticipated by the forward-looking statements will transpire or occur,
or if any of them do so, what impact they will have on the results of
operations or financial condition of Umpqua or Sterling.

Contact:

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