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Local News - Local News - November 13, 2009
At work on recovery
Gilkey, Stanley to receive no severance due to TARP regulations

By Richard Ripley
Of the Journal of Business

Sterling Financial Corp.'s Greg Seibly says heightened regulatory standards on capital amount to
Sterling Financial Corp.'s Greg Seibly says heightened regulatory standards on capital amount to "a sea change."
—Photo by Hamilton Studio
Days after a tide of negative news buffeted Sterling Financial Corp., its new top executives said last week the Spokane bank-holding company has a recovery plan in place, has been working under it for a year, and is making headway.

Acting President and CEO Greg Seibly says that while the vigor with which banking regulators have taken enforcement actions against Sterling and other banks is surprising, the regulatory change is not unexpected. Those actions are consistent with a chang...


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