North Bay Business Journal

Treasury says Sonoma Bank owner must raise $650 million

SPOKANE, WASH. — Sterling Financial Corp., owner of Sonoma Bank in Santa Rosa, today said it is in active negotiations with several private equity investors, its major creditors and its regulators about various strategic alternatives designed to put Sterling on a sound financial footing and to allow it to recapitalize and grow its business.

Banking: Of FDIC orders impacting 219 banks, most meet agreements

In a year when Federal Deposit Insurance Corp. intervention in banks has skyrocketed, odds are favorable that two North Bay institutions receiving cease and desist orders can be successful in meeting FDIC requirements.

Sterling Savings, owner of Sonoma Bank, under FDIC order

UPDATED 2:45 P.M. SPOKANE, Wash. — Sterling Financial Corp., owner of Sonoma Bank in Santa Rosa, today announced that its subsidiary, Sterling Savings Bank, has entered into agreements with the Federal Deposit Insurance Corp. requiring it to strengthen its financial position.

Banking column: Officials say banks likely to take losses on $19.2 million in Carinalli loans

Banks will likely end up taking losses on a large portion or all of the $19.2 million in unsecured and under-secured loans made to long-time Sonoma County real estate investor Clem Carinalli.

Nine of the 14 financial institutions named in the recent U.S. Bankruptcy Court filings have unsecured loans and three are headquartered locally.

BANKING: Banking veterans in SBA, lending make moves

Also: Ex-Prudential executive joining Redwood Trust Inc.

SBA lending fails to see upturn

NORTH BAY – Even with aggressive new rules for Small Business Administration loans intended to increase lending, the program hasn’t delivered the punch it intended.

Women in Business 2009 awards dinner photo gallery

This is a gallery of pictures from the Women in Business 2009 awards dinner, honoring eight women from Sonoma, Marin and Napa counties who have distinguished themselves as leaders, innovators and visionaries in their fields.

Business Journal Editorial: Leaders, innovators, visionaries

(This editorial was adapted from opening remarks by Business Journal editor and associate publisher Brad Bollinger at Thursday’s ninth annual Women in Business Awards Gala.)

People: Week of June 22

People items submitted by North Bay businesses for publication in the Business Journal for June 22nd