Federal Home Loan Bank of Seattle has named Sterling Bank the recipient of its 2013 Community Spirit Award. The annual award recognizes a financial institution member of the home loan bank cooperative for its use of community investment programs in meeting affordable housing and economic development needs in the communities it serves.
“In addition to meeting all of our 2013 award criteria, Sterling Bank distinguished itself based on its use of the Seattle Bank’s community investment programs in addressing a broad range of affordable housing needs in its market area,” said Seattle Bank president and CEO Michael L. Wilson.
Sterling Bank has helped to provide nearly $49.5 million of grants and reduced-rate loans to support 2,240 affordable homes in its communities. A two-time Community Spirit Award recipient, it was also recognized with the award in 2003.