Donn C. Costa Named Acting President of Golf Savings Bank

SPOKANE, Wash.--(Business Wire)--
Sterling Financial Corporation (NASDAQ:STSA) announced today that Donn C. Costa
has been named acting president of Golf Savings Bank, subject to regulatory
approval. Golf Savings Bank is a wholly-owned subsidiary of Sterling Financial
Corporation and is headquartered in Mountlake Terrace, Wash. Golf Savings Bank
is a leading originator of home loans in the Pacific Northwest. Mr. Costa has
been with Golf Savings Bank since 1994 and has served as executive vice
president of Golf Savings Bank since 2006 when it was acquired by Sterling.
Prior to the acquisition by Sterling, Mr. Costa served as the president of
Lynnwood Financial Corporation, the former holding company of Golf Savings Bank.

Mr. Costa will work closely with Sterling`s acting Chief Executive Officer, J.
Gregory "Greg" Seibly, who was appointed as acting chief executive officer of
Golf Savings Bank in connection with his recent promotion to serve as Sterling`s
acting chief executive officer.

"As a leading originator of home loans in the Pacific Northwest, Golf Savings
Bank has had strong performance over the last 12 months under Donn`s
leadership," said Mr. Seibly. "Golf Savings Bank and Sterling Savings Bank,
Sterling Financial Corporation`s other banking subsidiary, will continue to find
ways to work together for great banking solutions based on our commitment to our
communities, customers and employees."

Golf Savings Bank has grown under Mr. Costa`s leadership. It currently employs
more than 600 people in 32 mortgage offices and retail banks across the Pacific
Northwest.

About Sterling Financial Corporation

Sterling Financial Corporation of Spokane, Washington, is the bank holding
company for Sterling Savings Bank, a commercial bank, and Golf Savings Bank, a
savings bank focused on single-family mortgage originations. Both banks are
state chartered and federally insured. Sterling offers banking products and
services, mortgage lending, construction financing and investment products to
individuals, small businesses, commercial organizations and corporations. As of
September 30, 2009, Sterling Financial Corporation had assets of $11.87 billion
and operated more than 175 depository branches throughout Washington, Oregon,
Idaho, Montana and California. Visit Sterling's website at
www.sterlingfinancialcorporation-spokane.com.

About Golf Savings Bank

Golf Savings Bank's primary focus is the origination of high-quality residential
home loans within a network of over 30 loan offices located throughout the
Pacific Northwest. Golf Savings Bank offers affordable loan programs and
products to homebuyers, including many first-time and low- to moderate-income
buyers. Headquartered north of Seattle, Golf Savings Bank is a federally
insured, Washington-state chartered savings bank. It is a wholly owned
subsidiary of Sterling Financial Corporation (NASDAQ: STSA). Please visit at
www.golfsavingsbank.com for more information.

Forward-Looking Statements

This release contains forward-looking statements, which are not historical facts
and pertain to Sterling's future operating results. These forward-looking
statements are within the meaning of the Private Securities Litigation Reform
Act of 1995. These forward-looking statements may include, but are not limited
to, statements about Sterling's plans, objectives, expectations and intentions
and other statements contained in this release that are not historical facts.
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. These forward-looking
statements are inherently subject to significant business, economic and
competitive uncertainties and contingencies, many of which are beyond Sterling's
control. In addition, these forward-looking statements are subject to
assumptions with respect to future business strategies and decisions that are
subject to change. Actual results may differ materially from the results
discussed in these forward-looking statements because of numerous possible risks
and uncertainties. These include but are not limited to: the possibility of
continued adverse economic developments that may, among other things, increase
default and delinquency risks in Sterling's loan portfolios; shifts in interest
rates that may result in lower interest rate margins; shifts in the demand for
Sterling's loan and other products; lower-than-expected revenue or cost savings
in connection with acquisitions; changes in accounting policies; changes in the
monetary and fiscal policies of the federal government; and changes in laws,
regulations and the competitive environment.

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Sterling Financial Corporation
Cara Coon, 509-626-5348
VP/Communications Manager

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