Saving - Loan May Locate Office Here

Lewis & Clark Savings & Loan Association of Clarkston is proposing to establish a branch office in Pomeroy and other savings & loans are also considering offices here.

The state savings and loans supervisor last week announced Lewis & Clark has applications for an office in Pomeroy. An address listed, that being in the same area as the Pomeroy Grain Growers office, but Pearl Gwinn, L & C director from Garfield County said that some four sites are under consideration. These were not named.

Gwinn said some $1,000,000 of Garfield County money is invested in Lewis & Clark Savings and Loan and that there are 20 stockholders from Pomeroy.

He says the matter is still under consideration, and that final plans have not been made.

Besides Lewis & Clark, First Federal Savings & Loan Association of Walla Walla and Equitable Savings and Loan of Spokane are purportedly also looking into the Pomeroy market.

Lewis & Clark merger with Sterling takes place

Harold B. Gilkey, Chairman of the Board of Sterling Savings Association, announced last week that Sterling's acquisition through merger of Lewis & Clark Savings and Loan Association of Clarkston, has been accomplished.

The last hurdle was cleared with federal approval of the merger received June 27. This paves the way for combined operations under the Sterling name in Spokane, Clarkston, Pomeroy and Colfax. A Sterling branch will be opened soon in Walla Walla.

Gilkey said that while the statistics are impressive for Sterling, a new savings institution that opened its doors April 4 of this year--assets having increased 20 times and the number of depositors up 160-fold, and total deposits up 120 times--"what really matters is how we implement plans to convert this dramatic growth into meaningful service to the people of this region".

Gilkey noted that his management team, which now includes the Lewis & Clark managers, has from the beginning of negotiations in February viewed the merger in terms of what it will mean to both customers and shareholders of the combined institution. "Lewis & Clark has enjoyed substantial growth since its inception in 1967, largely due to the commitment of management and staff to serving their communities." Gilkey stressed that this philosophy is a perfect match with Sterling's and will contribute to the continuing success of the combined company.

"We believe the merger provides the financial strength, geographical convenience, and diversified management skills that our customers, both individuals and businesses, will find profitable," Gilkey said.

The five Sterling locations in eastern Washington create a geographic pattern shared by many regional businesses, said Gilkey. "For example, a retailer with establishments in two or more communities we serve will find it desirable to bank with Sterling. It is clear to me,"Gilkey said, "that, had this merger not occurred, Sterling would have sought to establish operations in precisely these four other cities. We all have a great deal in common, from sharing the same state government to sharing the same heritage, cultural and economic, of this inland region."

Kip McQuary, Chairman of the Board of Lewis & Clark, and Dr. Robert Meyers and Robert Larrabee, directors of Lewis & Clark, have been asked to serve as directors of Sterling Savings Association. Chuck McMains, President of Lewis & Clark, will manage the company's activities in Lewiston and Clarkston.

Gilkey emphasized that the merger strengthens and enhances the type of service Lewis & Clark Savings and Loan Association has provided over the years. He stressed that, unlike many mergers between financial institutions these days, the combining of Lewis & Clark and Sterling is the combining of two viable companies that recognized mutual benefits in being able to better serve the Inland Empire under the Sterling banner, particularly beneficial in taking advantage of the continuing deregulation of the financial industry.

Muriel new Sterling vp

Muriel Bott, manager of Sterling Savings Bank's Pomeroy branch, has been promoted to vice president of the Spokane-based organization.

Muriel was a customer service representative when Lewis & Clark Savings merged with Sterling in 1983. She was named Pomeroy branch manager in 1986 and promoted to assistant vice president in 1993.

She was awarded the bank's Community Service Award for her contributions to civic, cultural and charitable activities in the community, and she was recipient in 1996 of the Leadership Award for high level of performance, leadership and community service.

Muriel is active in the Chamber of Commerce, Service Club, county tourism committee, Community Development Action Team, the board of Garfield County Health Foundation, and Garfield County Historical Association.