homeWelcome, sign in or click here to subscribe.login
     


 

 

Real Estate


print  email to a friend  reprints add to mydjc  

April 1, 2010

Golf Savings Bank

Gerald R. Zachary was appointed chairman of Golf Savings Bank board of directors. The North Seattle bank's primary focus is home loan origination. Zachary has been on the board since 2000. He previously was director of banks for the state. He retired in 1998 and works as a bank consultant. Sterling Financial Corp. is the parent of Golf Savings Bank and the holding company for Sterling Savings, a commercial bank. Two weeks ago, Spokane-based Sterling Financial reached a tentative deal with the U.S. Treasury and a potential investor in its battle for survival, The Associated Press reported. Treasury would accept a steep markdown on the $303 million that it invested in Sterling as part of the 2008 Troubled Asset Relief Program. The company would raise an additional $650 million in capital from new investment. Sterling would also repurchase $238 million in trust-preferred securities for which it is offering 20 cents per $1 face value.




Email or user name:
Password:
 
Forgot password? Click here.