Over 170 New Employees Hired Since November 2008

Golf Savings Bank, a leading mortgage lender in the Pacific Northwest, recently announced that it is continuing to expand its lending platform. The bank has added more than 170 new employees since November 2008 and expects to hire additional staff for both sales and administrative positions. Since late 2008, Golf Savings Bank has opened six new offices throughout the Pacific Northwest. Golf Savings Bank has increased and broadened its lending initiatives following the allocation of capital from its parent company, Sterling Financial Corporation, a participant in the U.S. Department of the Treasury's Capital Purchase Program.

"We continue to experience a record number of mortgage closings thanks primarily to the recent economic stimulus and incentive programs, which allow homebuyers to refinance or purchase homes at favorable rates and on favorable terms," said Donn Costa, executive vice president of Golf Savings Bank. "In this difficult economic environment, we are investing our resources into our business to enable us to expand in and support the communities that we serve. Our mortgage-lending capability is helping us attract highly talented mortgage originators, underwriters and processing staff."

Golf Savings Bank is a participant in a number of programs that help homebuyers, including many first-time and low- to moderate-income buyers, invest in the home of their dreams. Additionally, Golf Savings Bank also works closely with borrowers to refinance mortgage loans into mortgage products with affordable payments.