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Capital Offerings Profile

Company NameSterling Financial Corporation
Issuer NameSterling Capital Statutory Trust V
Offering TypePrivate Placement - Subsidiary Trust Preferred Stock
DescriptionFloating rate trust preferred securities, due 06/15/33
Currency of IssueUSD
Announcement Date5/16/2003
Completion Date5/14/2003
Mandatory Redemption?Yes
Exchange for Existing Issue?No

Use of Proceeds
The net proceeds of this offering will be used to redeem $40 million of 9.5% trust preferred securities of Sterling Capital Trust I.

Gross Amount Offered ($000)20,000
Amount Including Overallotment ($000)20,000

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