Sterling Bank Declares Cash Dividend
July 28 2004 - 6:43PM
PR Newswire (US)
Sterling Bank Declares Cash Dividend MOUNT LAUREL, N.J., July 28
/PRNewswire-FirstCall/ -- Sterling Bank (NASDAQ:STNJ), today
announced that its Board of Directors has declared a cash dividend
of $0.02 per common share. This dividend is payable on August 26,
2004, to shareholders of record as of August 12, 2004. Robert H.
King, President and CEO commented concerning this action by the
Board of Directors, "The introduction, during 2004, of quarterly
cash dividends is a significant step forward in the progressive
development of Sterling Bank. This is the third quarterly cash
dividend declared this year, and validates the continuing positive
progress of the organization." Sterling Bank is a community bank
headquartered in Burlington County, New Jersey, with assets of $283
million as of June 30, 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. 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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