Sterling Financial, the Washington-based bank holding company of Sterling Savings Bank and Golf Savings Bank, have announced the appointment of Sterling Financial director William Eisenhart as non-executive chairman of its board of directors. It has also announced the promotion of Gregory Seibly to acting president and CEO of Sterling Financial and the promotion of Ezra Eckhardt to acting chief operating officer of Sterling Financial.
Reportedly, Mr. Seibly was also named acting CEO of Sterling Savings Bank and acting CEO of Golf Savings Bank. Mr. Eckhardt was also promoted to acting president of Sterling Savings Bank. In addition, Donn Costa was promoted from executive vice president to acting president of Golf Savings Bank. Mr. Seibly, Mr. Eckhardt and Mr. Costa have assumed the full responsibilities of their roles, effective immediately. They will serve as acting executives until their appointments receive final approval from Sterling’s regulators.
Mr. Eisenhart has served as an independent member of Sterling’s board and chair of its audit committee. Mr. Seibly joined Sterling Savings Bank in 2007 and has served as its president. Mr. Eckhardt joined Sterling Savings Bank in 2004 and has served as its executive vice president and chief operating officer.
Mr. Eisenhart has also announced the departure of Harold Gilkey, who co-founder of Sterling, from his roles as chairman of the board, president and CEO of Sterling Financial, as a director of Sterling Savings Bank, and as CEO and a director of Golf Savings Bank. Mr. Eisenhart has further announced the departure of Heidi Stanley, from her positions as chairman of the board and CEO of Sterling Savings Bank and from the board of Sterling Savings Bank.
Mr. Eisenhart said: “The board is committed to taking the actions necessary to respond to the challenges that face Sterling and many other banks in the Pacific Northwest. As a crucial next step, the board is bringing in a new generation of management to lead the efforts to strengthen Sterling’s capital and liquidity positions, work through our problem loans and put into place processes to improve credit quality going forward.”
