Apr 25, 201201:46 PMBlog

Sterling Financial earnings slip from previous quarter

Apr 25, 2012 - 01:46 PM

Sterling Financial Corp. reported net income of $13.3 million, or 21 cents per diluted common share, for the quarter ended March 31. That compares to $14.8 million, or 24 cents per diluted common share, for the linked quarter, and $5.4 million, or 9 cents per diluted common share, for the first quarter of 2011.

Net income for Spokane-based Sterling for the first quarter of 2012 included acquisition-related expenses of $6.1 million, severance charges of $2.6 million and charges related to branch consolidations of $1.3 million.

            

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