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Sterling's net income rises sharply ...

Sterling Financial Corp. announced first-quarter net income of $22.9 million, or 50 cents a diluted share, up 49 percent from $15.4 million, or 44 cents a share, in the year-earlier quarter. The Spokane-based company, which has been growing rapidly through acquisitions, said its core earnings were up 18 percent. It attributed that gain largely to higher net interest income resulting from improved margins and growth in earning assets. Sterling said its total assets jumped by 45 percent, to $11.4 billion.


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