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Sterling Financial Corp. appears ready to get out from under the thumb of federal regulators now that it's finished raising $730 million from investors.
The Spokane-based holding company, parent of Sterling Savings Bank, has raised more money than regulators wanted under a consent order and has boosted its capital ratio above the minimum threshold to be well-capitalized, bank spokeswoman Cara Coon said.
Banking industry officials see it as an encouraging sign for other Idaho banks that have struggled to raise capital under regulators' demands.
"It's a very encouraging indicator that (Sterling) hit the mark," said...