TITLE

Wash.'s Sterling Says Deal Furthers Its Transformation

AUTHOR(S)
Jackson, Ben
PUB. DATE
February 2006
SOURCE
American Banker;2/14/2006, Vol. 171 Issue 30, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article looks at Sterling Financial Corp.'s deal for Seattle-area thrift Lynnwood Financial Group Inc. Lynnwood is the holding company for Golf Savings Bank, the fifth largest mortgage originator in Washington State. Harold B. Gilkey, Sterling's chairman and chief executive, said that buying Lynnwood could actually accelerate his company's shift away from its mortgage lending roots. Golf Savings would handle most of the merged outfit's one-to-four-family mortgage loan production, freeing up Sterling up to focus primarily on commercial lending, Mr. Gilkey said.
ACCESSION #
19792638

 

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