Mountlake Terrace, Wash. — March 13, 2009 — Golf Savings Bank, a leading originator of residential home loans, today announced a lending incentive plan that provides borrowers a lending credit of 3% of the sales price of a home up to a maximum of $20,000. This credit can be applied against closing costs or can be used for seller concessions.

"As a result of our participation in the U.S Treasury's Capital Purchase Program through our parent company Sterling Financial Corporation, Golf is increasing lending incentives to help stimulate demand for and facilitate financing of single family homes in the Pacific Northwest," said Donn Costa, executive vice president of Golf Savings Bank. "So far, this program has been received successfully by both buyers and builders because it applies to all new construction property in any locations financed by Golf. In the first three weeks of the program, Golf approved $30 million in loan originations associated with $800,000 in lender credits to our borrowers."

This special financing is currently available on new construction properties where the property is financed by Golf Savings Bank and is expected to apply to home sales that close by the end of April 2009. Any other seller contributions will be in addition to this incentive program. For complete details on this lending incentive program, please contact a mortgage banking representative at Golf Savings Bank.

About Golf Savings Bank
Golf Savings Bank's primary focus is the origination of high-quality residential home loans within a network of over 30 loan offices located throughout the Pacific Northwest. Golf Savings Bank offers affordable loan programs and products to homebuyers, including many first-time and low- to moderate-income buyers. Headquartered north of Seattle, Golf Savings Bank is a federally insured, Washington-state chartered savings bank. It is a wholly owned subsidiary of Sterling Financial Corporation (NASDAQ: STSA). Please visit at www.golfsavingsbank.com for more information.

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