Sterling reports $623M quarterly loss
Spokane-based Sterling Financial Corp., the parent company of Sterling Savings Bank, reported a fourth-quarter net loss attributable to...
By Seattle Times business staff
Spokane-based Sterling Financial Corp., the parent company of Sterling Savings Bank, reported a fourth-quarter net loss attributable to common shareholders of $642.7 million, or $12.79 per share, compared to a $333.1 million loss, or $423.17 per share, in the fourth quarter of 2009.
Its year-end results were similar: A $756.1 million net loss, or $53.05 per share, compared with a net loss of $855.5 million, or $1,087.41 per share, in 2009.
The company, which raised $730 million in new capital in August by issuing vast quantities of new shares, said a fourth-quarter conversion of preferred stock resulted in a non-cash reduction of $604.6 million in income available to common shareholders.
When vice president of Sub Pop Records Megan Jasper isn't running things at the office, she's working in her garden at her West Seattle home where she and her husband Brian spend time relaxing.
I've been fortunate to have traveled the world: Europe, Asia, Africa, Australia. Exotic islands, too. Wherever I go, I'm struck by one undeniable trut...
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