Sterling Bank Declares Cash Dividend
April 29 2004 - 4:34PM
PR Newswire (US)
Sterling Bank Declares Cash Dividend MOUNT LAUREL, N.J., April 29
/PRNewswire-FirstCall/ -- Sterling Bank today announced that its
Board of Directors has declared a cash dividend of $0.02 per common
share. This dividend is payable on May 26, 2004, to shareholders of
record as of May 12, 2004. In announcing the cash dividend, Robert
H. King, President and CEO, stated, "This is the second quarterly
cash dividend declared by the Board of Directors during 2004, and
reflects our continuing growth and strength." Sterling Bank is a
community bank headquartered in Burlington County, New Jersey, with
assets of $278 million as of March 31, 2004. 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. 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. Information in this
release or in other communications by Sterling Bank relating to the
Bank's financial performance or prospects that are forward- looking
statements, such as statements of the Bank's plans, objectives,
expectations, estimates and intentions, involve risks and
uncertainties and are subject to change based on various important
factors. The following factors, among others, could cause the
Bank's actual financial performance to differ materially from such
statements: the strength of the United States economy in general
and the strength of the local economies in which the Bank conducts
operations; the effects of, and changes in, trade, monetary and
fiscal policies and laws, including interest rate policies of the
Board of Governors of the Federal Reserve System; inflation;
interest rate, market and monetary fluctuations; the timely
development of and acceptance of new products and services of the
Bank and the perceived overall value of these products and services
by users, including the features, pricing and quality compared to
competitors' products and services; the impact of changes in
financial services' laws and regulations; technological changes;
the effect of any acquisitions; changes in consumer spending and
saving habits; and the ability of the Bank to effectively manage
its growth. Additional information about factors that potentially
could affect the Bank's financial results is included in other
documents the Bank files from time to time with the Federal
Reserve, including its Annual Report on Form 10-KSB for the year
ended December 31, 2003, future quarterly reports on Form 10-QSB,
and any 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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