Capital Offerings Profile
Company NameSterling Financial Corporation
Offering TypePrivate Placement - Preferred Stock
Description15.000% Series B convertible participating voting preferred stock, no par value
Currency of IssueUSD
 
Announcement Date4/27/2010
Completion Date8/26/2010
 
144a?No
Mandatory Redemption?No
Convertible?Yes
Exchange for Existing Issue?No

Use of Proceeds
The net proceeds of this offering will be used for general corporate purposes, which is expected to include the pay down of in liabilities and may include the funding of potential acquisitions.

Pricing
Offer Price ($)92.00
Gross Amount Offered ($000)314,484
Amount Including Overallotment ($000)314,484
Shares Offered3,418,300
Total Shares Offered3,418,300

UnderwritersShares UnderwrittenAmount Underwritten($000)
Placement Agent(s)
  B. Riley FBR, Inc.--
  Barclays Capital Inc.--
  Sandler O'Neill & Partners, L.P.--

Professionals
Issuer's CounselDavis Polk & Wardwell, LLP

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