July 27 / Sterling reports $58.2 million quarterly loss
Sterling Financial Corp., of Spokane, which owns Sterling Savings Bank and Golf Savings Bank, reported a second-quarter net loss of $58.2 million, or $1.12 a share, compared with a net loss of $33.9 million, or 65 cents a share, in the year-earlier quarter. The company said its latest results reflected a provision for credit losses of $70.8 million, which it set aside to cover potential loan losses, compared with a $79.7 million provision in the second quarter of 2009. President and CEO Greg Seibly said Sterling's core banking business continued to improve.

July 21 / Davis named interim airports director
The Spokane Airport Board recommended that retired Providence Health Care CEO Ryland P. "Skip" Davis be appointed as interim director of Spokane Airports, and the Spokane County Commission and Spokane City Council approved his appointment. Davis is a pilot with 1,500 hours of flight time and owns an airplane based at Felts Field. Neal Sealock resigned as director effective July 21 after nearly five years on the job.

July 21 / Providence to buy cardiac groups
Providence Health Care, Spokane Cardiology, and Heart Clinics Northwest announced that Providence would buy the two heart doctors groups and employ their physicians and staffs. The parties said they will seek to advance cardiac and vascular care through a new entity named the Providence Spokane Heart Institute. Providence owns Providence Sacred Heart Medical Center & Children's Hospital and Providence Holy Family Hospital.

July 21 / Ambassadors Group's income dips
Ambassadors Group Inc., the Spokane-based provider of international educational travel programs, reported second-quarter net income of $15.2 million, or 78 cents a diluted share, down from $19.2 million, or 99 cents a share, in the year-earlier quarter. As of July 19, the estimated revenue from delegates that have completed travel or plan to travel this year was $160.2 million, driven by 26,825 enrolled participants, which compares with $192.7 million enrolled revenue from 34,671 participants in the year-earlier period.

July 20 / County funds stadium-improvement design
Spokane County commissioners appropriated $10,000 for initial design for $2.8 million worth of improvements at the Avista Stadium baseball park. Improvements are to start in September 2011 and will include constructing a new concession building, expanding the stadium office, and upgrading the clubhouse, restrooms, and an asphalt walkway. The work is required under a contract the commissioners approved earlier this year with Brett Sports & Entertainment Inc., which owns the Spokane Indians minor league baseball club.

July 15 / Employment here falls
Some 206,100 people held nonagricultural wage and salary jobs in the Spokane area in June, down by 5,600 from the June 2009 level, preliminary state figures said. Preliminary results from another state survey put the unemployment rate at 8.5 percent during June, down from 8.9 percent in the year-earlier month.

July 12 / June home sales edge up
The Spokane Association of Realtors said 506 homes were sold here in June through the Multiple Listing Service, up slightly from 501 sales in June 2009. The median sales price here in June was $171,300, down from $177,500 in the year-earlier month. The association said 2,319 homes were sold in the first six months of this year, up sharply from 1,863 sales in the first half of 2009.

July 8 / Bank of Whitman reaches accord with Fed
Colfax-based Bank of Whitman reached an agreement with the Federal Reserve Bank of San Francisco to strengthen the employee-owned bank's board oversight in an effort to improve its credit risk and funds management, lending and credit administration, loan-loss allowances, capital, and earnings. The agreement required the bank to set up a lending compliance committee with a majority of outside directors and to eliminate from its books within 10 days all assets classified as losses. The accord also required the bank to submit within 90 days a plan to improve its earnings and overall condition.