Sterling Bank Declares Stock Dividend
June 21 2004 - 11:16AM
PR Newswire (US)
Sterling Bank Declares Stock Dividend MOUNT LAUREL, N.J., June 21
/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 July 31, 2004 to shareholders of record
as of the close of business on June 30, 2004. In announcing the
stock dividend, Robert H. King, President and CEO stated, "This
action by the Board of Directors is consistent with past practices,
and further validates our organization wide commitment to enhancing
shareholder value, and providing our shareholders with a consistent
and solid return on their investment." Sterling Bank is a community
bank headquartered in Burlington County, New Jersey, with assets of
$277 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 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; either expressed or implied, which are
provided to assist the reader in understanding anticipated future
financial performance. These statements involve certain risks,
uncertainties, estimates and assumptions made by management, which
are subject to factors beyond the company's control and could
impede its ability to achieve these goals. These factors include
general economic conditions, trends in interest rates, the ability
of our borrowers to repay their loans, and results of regulatory
examination, among other factors. 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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