Sterling Bank Declares Quarterly Cash Dividend
July 27 2005 - 2:27PM
PR Newswire (US)
Sterling Bank Declares Quarterly Cash Dividend MOUNT LAUREL, N.J.,
July 27 /PRNewswire-FirstCall/ -- Sterling Bank (NASDAQ:STNJ),
today announced that its Board of Directors has declared the Bank's
regular quarterly cash dividend on its common stock of $0.03 per
common share. The cash dividend is payable on August 26, 2005, to
shareholders of record as of August 17, 2005. Sterling Bank is a
community bank headquartered in Burlington County, New Jersey, with
assets of $336 million as of June 30, 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 which is planned for opening in the fourth
quarter of 2005 in Voorhees Township, New Jersey. 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 to the applicable regulatory limits
per depositor by the Federal Deposit Insurance Corporation.
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". For additional information about Sterling
Bank visit our website at http://www.sterlingnj.com/. This news
release may contain certain forward-looking statements, such as
statements of the Bank's plans, objectives, expectations, estimates
and intentions. Forward-looking statements may be identified by the
use of words such as "expects," "subject," "believe," "will,"
"intends," "will be" or "would." These statements are subject to
change based on various important factors (some of which are beyond
the Bank's control) and actual results may differ materially.
Accordingly, readers should not place undue reliance on any
forward-looking statements (which reflect management's analysis
only as of the date of which they are given). These factors include
general economic conditions, trends in interest rates, the ability
of our borrowers to repay their loans, the ability of the Bank to
effectively manage its growth, and results of regulatory
examinations, among other factors. Sterling Bank cautions that the
foregoing list of important factors is not exclusive. Readers
should carefully review the risk factors described 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. DATASOURCE: Sterling Bank CONTACT:
Robert H. King, President, +1-856-273-5900, , or R. Scott Horner,
Executive Vice President, +1-856-273-5900, , both of Sterling Bank
Web site: http://www.sterlingnj.com/
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