Sterling Bank Declares Stock Dividend
July 01 2005 - 11:59AM
PR Newswire (US)
Sterling Bank Declares Stock Dividend MOUNT LAUREL, N.J., July 1
/PRNewswire-FirstCall/ -- Sterling Bank (NASDAQ:STNJ) today
announced that its Board of Directors has declared a 5% stock
dividend on the outstanding common shares of the Bank. This stock
Dividend will be issued on August 12, 2005, to shareholders of
record as of the close of business on July 29, 2005. Sterling Bank
is a community bank headquartered in Burlington County, New Jersey,
with assets of $310 million as of March 31, 2005. Sterling Bank's
main office is located in Mount Laurel, New Jersey and its five
other Community Banking Centers are located in Burlington and
Camden Counties in New Jersey. Additionally, Sterling Bank has
announced a seventh retail branch to be located in Voorhees
Township, Camden County, New Jersey, which is planned for opening
in the third quarter 2005, subject to receipt of appropriate
regulatory approvals. Sterling Bank began operations in December
1990 with the purpose of serving consumers and small to
medium-sized businesses in its market area. The Bank's deposits are
insured by the Federal Deposit Insurance Corporation up to the
applicable regulatory limits per depositor. Sterling Bank is a
member of the Federal Reserve System. The common stock of Sterling
Bank is traded on the NASDAQ Small Cap Market under the symbol
"STNJ." This news release may contain forward-looking statements.
We caution that such statements may be subject to a number of
uncertainties and actual results could differ materially and,
therefore, readers should not place undue reliance on any
forward-looking statements. Readers should carefully review the
risk factors described in the Bank's Offering Circular dated May 4,
2005, for the Bank's public offering of Common Stock and in other
documents the Bank files from time to time with the Federal
Reserve, including the Bank's Annual Report on Form 10-KSB for the
year ended December 31, 2004, Quarterly Reports on Form 10-QSB and
Current Reports on Form 8-K. Sterling Bank assumes no obligation to
update any forward-looking information contained in this release or
elsewhere, except as required under applicable law. DATASOURCE:
Sterling Bank CONTACT: Robert H. King, President, +1-856-273-5900
or , or R. Scott Horner, Executive Vice President, +1-856-273-5900
or , both of Sterling Bank Web site: http://www.sterlingnj.com/
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