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STERLING ANNOUNCES PUBLIC OFFERING

 STERLING ANNOUNCES PUBLIC OFFERING
 SPOKANE, Wash., Nov. 22 /PRNewswire/ -- Sterling Savings Association


today announced the public offering of 2,500,000 shares of common stock at $8.25 per share. The shares will trade on the National Association of Securities Dealers Automated Quotation System National Market System, NASDAQ-NMS, under the symbol "STSA."
 All of the shares are being sold by the company. Dain Bosworth Incorporated, Sutro & Co. Incorporated, and Wedbush Morgan Securities are managing underwriters of the offering. The company also has granted the underwriters an option to purchase up to 375,000 additional shares to cover over-allotments, if any.
 The primary purpose of this offering is to increase Sterling's regulatory capital levels. The net proceeds from this offering will be used to support the growth of Sterling's business, including the origination of loans. A registration statement with respect to the common stock was filed with the Office of Thrift Supervision and became effective on Nov. 20, 1991.
 Sterling Savings Association is a state-chartered, federally insured stock savings institution which opened in April 1983. The association, based in Spokane, has 27 branches throughout the state and total assets of approximately $591 million.
 This announcement is neither an offer to sell nor a solicitation of an offer to buy the common stock. The offering is made only by means of the offering circular which may be obtained from any underwriter or dealer authorized to offer the common stock.
 -0- 11/22/91
 /CONTACT: Heidi B. Stanley of Sterling, 509-458-2711/
 (STSA) CO: Sterling Savings Association ST: Washington IN: FIN SU: OFR


GK -- NY054 -- 6425 11/22/91 13:38 EST
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Publication:PR Newswire
Date:Nov 22, 1991
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