North Bay Business Journal

SANTA ROSA — The U.S. Department of the Treasury today announced the sale of more than 5.7 million common shares in Sonoma Bank’s parent company, part of a continued effort to unload stock that it purchased to infuse capital into banks hit hard during the recession.

SANTA ROSA — Exchange Bank could be moving closer to reinstating its shareholder dividends, which fund the Doyle college scholarship, after the U.S. Department of the Treasury today announced it has completed the auction of stock in the bank purchased through the Troubled Asset Relief Program in 2008.

WASHINGTON — Foreign bank account holders with no financial interest have been given a year extension in filing the required paperwork with the Treasury and Internal Revenue System.

A recently completed benchmark survey that tracks insurance costs for Bay Area companies found that wineries in the North Bay spend significantly less on employee benefits while contributing more to employee premiums than other companies in other industries.

Because of a bill vetoed last week by Gov. Arnold Schwarzenegger, California homeowners who sell short will have to pay taxes on forgiven mortgage debt.

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.

NORTH BAY – From around the North Bay, wealth advisers, businesses strategists and investment experts weighed in on economic opportunities and dangers in the current environment.