Sterling Savings Bank Expands its Footprint in the Northwest

Written by: Mike Valles

The Sterling Savings Bank of Washington State has just recently expanded. It just completed the purchase of the local operations of the Boston Private Bank & Trust Company (Boston Private), which will enable it to offer their services to an even larger number of people in the Puget Sound region of the state.

Sterling Operates in Multiple States

Sterling Savings, which is part of the Sterling Financial Corporation, already has been operating in other parts of the country. In the state of California, for instance, it operates under the names of the “Sonoma Bank” or the “Borrego Springs Bank,” and does not use the name “Sterling” there at all. It also operates in Oregon and Idaho.

The bank that was bought out, Boston Private, has branches in the Boston MA area, in New England, in southern California, and in the San Francisco Bay area. In a press release at Fool.com, the purchase was completed by Sterling Savings on May 10, 2013, and it added $276 million in performing loans and another $172 million in deposits. The total value of Sterling previously was around $9.26 billion.

Contributing to Community Is Common at Sterling

The leaders at the Sterling Savings Bank enjoy helping their community to grow. At about the same time as the acquisition of local Boston Private holdings, the Puget Sound Business Journal’s annual “Corporate Citizenship Awards” named Sterling as one of the most corporate philanthropist banks in the state, having given more than $651,000 to charities and non-profits, according to a press release at SNL.com. They also pay their employees for 12 hours annually to work in a non-profit organization as a volunteer. It is their desire, says their leaders, to want to see individuals reach their dreams.

Services of the Sterling Savings Bank

The Sterling Savings Bank offers the typical services that you would expect to find at a bank. Both individuals and businesses can expect to receive help and services designed to meet their needs.

  • Services for Individuals

From basic checking and savings accounts, to credit cards and loans, individuals will find everything they need for financial services here. Sterling also offers an Asset Management program for those who desire to have help managing their money and other assets. They offer just about any kind of investment or savings tool you need, including IRA’s, 401ks, mutual funds, stocks, bonds, annuities, insurance, and more. Programs are adjusted to meet the needs of individuals in terms of goals and level of risk desired.

  • Services for Businesses

Businesses in the area can also find the services they need to get started, build, invest, and expand. Sterling Savings Bank offers a wide range of business services, including payroll, taxpayer, employee, credit card, leasing and international services. They can also help with standard checking and savings programs, loans, SBA loans, real estate financing, and Treasury Management services (which includes liquidity and risk management), all to help businesses operate more smoothly. The Bank also offers services to handle large amounts of cash, including a 24-hour armored car automated ordering system.

Sterling Savings Bank may be just what you or your business need for growth and success. Be sure to look at their competitive services while shopping around.


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