Employees of Sterling Savings Bank, a subsidiary of Sterling Financial Corporation (NASDAQ: STSA), volunteered more than 25,000 hours of their time to hundreds of different charitable organizations during 2010, reflecting the bank's commitment to improving the quality of living in the communities it serves.

More than 6,000 of those hours qualified as Community Reinvestment Act (CRA) hours. Qualifying CRA organizations focus on affordable housing, financial education and/or financial services for low- to moderate-income populations. Other qualifying activities include downtown revitalization and small-business support.

As determined by the U.S. Bureau for Labor Statistics rate, the estimated dollar value of the total volunteer hours equates to more than a $520,000 in-kind fiscal impact, in addition to the financial support Sterling provides in the areas of arts and culture, health and wellness, civic and community, education and charitable organizations.

Throughout the year, employees also have donated money through Sterling's jeans day program, in which employees contribute money to wear jeans one Friday per month. Charities that have benefited from the program include the Oregon Food Bank in Lake Oswego, Ore., Youth Homes of the Bitterroot in Hamilton, Mont., Children's Miracle Network in Spokane, Northwest Harvest in the Seattle area and several other local and regional food banks across Sterling's five-state footprint.

?We are proud of the generous efforts of our employees, who, by giving of their time, have demonstrated what Sterling is all about,? said Ezra Eckhardt, president and chief operating officer of Sterling Savings Bank. ?Our commitment to serving our communities is unwavering, and whatever the cause, Sterling employees have proven they are ready to roll up their sleeves and be a source of volunteer power for their communities.?

Sterling successfully completed one of the largest recapitalizations in the banking sector in August 2010, and is the largest commercial bank headquartered in the Pacific Northwest. It has nearly 2,600 employees and 178 branches throughout Washington, Idaho, Montana, Oregon and California.

About Sterling Financial Corporation

Sterling Financial Corporation of Spokane, Wash., is the bank holding company for Sterling Savings Bank, a commercial bank. The bank is 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 Sept. 30, 2010, Sterling Financial Corporation had assets of $10.03 billion and operated 178 depository branches throughout Washington, Oregon, Idaho, Montana and California. Visit Sterling's website at www.sterlingfinancialcorporation-spokane.com.

Sterling Savings Bank ranked ?Highest Customer Satisfaction with Retail Banking in the Northwest Region? in the J.D. Power and Associates 2010 Retail Banking Satisfaction Study.SM Sterling Savings Bank received the highest numerical score among retail banks in the Northwest region in the proprietary J.D. Power and Associates 2010 Retail Banking Satisfaction StudySM. The study was based on 47,673 total responses measuring 6 providers in the Northwest Region (OR, WA) and measures opinions of consumers with their primary banking provider. Proprietary study results are based on experiences and perceptions of consumers surveyed in January 2010. Your experiences may vary. Visit jdpower.com.

Sterling Savings Bank
Media contact:
Cara L. Coon, 509-626-5348
cara.coon@sterlingsavings.com
or
Investor contact:
Daniel G. Byrne, 509-458-3711
David Brukardt, 509-863-5423