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8-K - FORM 8-K - STERLING BANCSHARES INC | d8k.htm |
Exhibit 99.1
NEWS RELEASE
For More Information Contact: |
For Release - June 25, 2010 | |
Chris Reid, Vice President Director of Investor Relations (713)507-2873
Media: Graham Painter, Executive Vice President Director of Corporate Communications (713) 507-2770 |
STERLING BANCSHARES, INC. ELECTS JOE KOSHKIN
TO ITS BOARD OF DIRECTORS
HOUSTON, TX, June 25, 2010Sterling Bancshares, Inc. (Nasdaq: SBIB) (the Company) announced today that Joe Koshkin has been elected to its board of directors.
Mr. Koshkin is a former partner of PricewaterhouseCoopers, LLP, and predecessor firm Coopers & Lybrand, L.L.P. (PwC). From 1980 to 2006 he served in various roles for PwC including partner in charge of the Southwest and Midwest Regions service industry practice and as partner in charge of the engineering and construction industry practice for North America. Additionally, he served as a national Securities and Exchange Commission (SEC) consulting partner, a national accounting and auditing consulting partner, and as a national Sarbanes Oxley consultant. He was responsible for risk management issues and other practice matters for PwCs Southwest and Midwest Regions of the United States.
Currently, he is active in consulting with senior management of both public and private companies on matters related to accounting, finance, the SEC, enterprise risk management, information technology, and general business issues.
We are extremely pleased to add someone of Joes experience and sophistication to our Board of Directors, said J. Downey Bridgwater, Sterling Bancshares Chairman, President and Chief Executive Officer. He brings tremendous knowledge and expertise in all matters related to auditing, accounting, financial reporting, and risk management.
Additionally, Mr. Koshkin was appointed as a member of the Audit Committee of the Company. He was also appointed to the board of directors of Sterling Bank, a Texas-chartered banking association wholly owned by Sterling Bancshares, Inc., and will serve on its Asset/Liability Management Committee.
Currently, Mr. Koshkin is the audit committee chairman for the Coastal Conservation Association (CCA), as well as a member of CCAs Texas and National board of directors and budget committees. In addition, he is a member of Lamar Universitys Accounting Department Advisory Board and the Business School Advisory Board. He is a graduate of Lamar University in Beaumont, Texas and is a Certified Public Accountant. He is an active member of the American Institute of CPAs and the Texas Society of CPAs.
Sterling Bancshares, Inc., is a Houston-based bank holding company with total assets of $5.0 billion that operates 58 banking centers in the greater metropolitan areas of Houston, Dallas, Fort Worth, and San Antonio. The Companys common stock is traded through the NASDAQ Global Select Market under the symbol SBIB. For more information on Sterling Bancshares please visit the Companys web site at http://www.banksterling.com.
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