Sterling Financial Corporation of Lancaster, Pa., Announces Quarterly Dividend for Fourth Quarter 2006
November 21 2006 - 2:00PM
PR Newswire (US)
LANCASTER, Pa., Nov. 21 /PRNewswire-FirstCall/ -- The board of
directors of Sterling Financial Corporation (NASDAQ:SLFI) declared
a $0.15 per share cash dividend for the fourth quarter of 2006.
This $0.15 per share quarterly dividend is the same as the
preceding quarter and represents a 7.1 percent increase in the
quarterly dividend over the dividend of $0.14 declared in the
fourth quarter of 2005. In addition, it represents a dividend yield
of 2.53%, based on Sterling's closing market price of $23.70 on
Nov. 20, 2006. The fourth quarter dividend is payable on Jan. 2,
2007, to shareholders of record on Dec. 15, 2006. Sterling
Financial Corporation has an 18-year record of consecutively
increasing shareholder dividends. With assets of $3.1 billion and
investment assets under administration of $2.8 billion, Sterling
Financial Corporation (NASDAQ:SLFI) is a diversified financial
services company based in Lancaster, Pa. Sterling Banking Services
Group affiliates offer a full range of banking services in
south-central Pennsylvania, northern Maryland and northern
Delaware; the group also offers correspondent banking services in
the mid-Atlantic region to other companies within the financial
services industry. Sterling Financial Services Group affiliates
provide specialty commercial financing; fleet and equipment
leasing; investment, trust and brokerage services; insurance
services; and human resources consulting services. Visit
http://www.sterlingfi.com/ for more information. Banking Services
Group -- Banks: Pennsylvania: Bank of Lancaster County, N.A.; Bank
of Lebanon County; PennSterling Bank; and Pennsylvania State Bank.
Pennsylvania and Maryland: Bank of Hanover and Trust Company.
Maryland: Bay First Bank (formerly First National Bank of North
East and Bay Net A Community Bank). Delaware: Delaware Sterling
Bank & Trust Company. Correspondent banking services:
Correspondent Services Group (provider of Sterling services to
other financial institutions). Financial Services Group --
Specialty commercial financing: Equipment Finance LLC (commercial
financing company for the forestry, land clearing and construction
industries). Fleet and equipment leasing: Town & Country
Leasing, LLC (nationwide fleet and equipment leasing/financing
company). Trust, investment and brokerage services: Sterling
Financial Trust Company (trust and investment services), Church
Capital Management, LLC (registered investment advisor) and
Bainbridge Securities Inc. (securities broker/dealer). Insurance
services: Lancaster Insurance Group, LLC (independent insurance
agency for personal, property and business insurance);
StoudtAdvisors (employee benefits consulting and brokerage firm);
and Sterling Financial Settlement Services, LLC (title insurance
agency). Human resources consulting: Professional Services Group
(human resources consulting services provider for small to medium
size businesses). This news release may contain forward-looking
statements as defined by the Private Securities Litigation Reform
Act of 1995. Actual results and trends could differ materially from
those set forth in such statements due to various factors. Such
factors include costs and efforts required to integrate aspects of
the operations of the companies being more difficult than expected,
anticipated merger-related synergies not being achieved timely or
not being achieved at all, the possibility that increased demand or
prices for Sterling's financial services and products may not
occur, changing economic and competitive conditions, volatility in
interest rates, technological developments, costs associated with
complying with laws, rules and regulations, and other risks and
uncertainties, including those detailed in Sterling's filings with
the Securities and Exchange Commission. DATASOURCE: Sterling
Financial Corporation CONTACT: Financial: Tito Lima, Chief
Financial Officer, +1-717-581-6030 or , or Media: Joe Patterson,
Vice President, Director of Corporate Communications,
+1-717-735-5651 (office), +1-717-940-2759 (mobile) or , both of
Sterling Financial Corporation Web site: http://www.sterlingfi.com/
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