Daily News: May 14, 2013

Sterling Acquires Seattle Operations of Boston Private Bank

Sterling Financial announced that its principal operating subsidiary completed the acquisition of the Seattle-area operations of Boston Private Bank & Trust effective May 10, 2013. The transaction included the acquisition of approximately $276 million in performing loans and $172 million in deposits.

“This acquisition is well-aligned with our strategic focus on the Seattle market,” said Greg Seibly, president and chief executive officer of Sterling. “We welcome the new employees who are joining Sterling and look forward to providing our award-winning level of service to our new customers.”