Sterling Bank Announces 50% Increase in Quarterly Cash Dividend
January 27 2005 - 4:12PM
PR Newswire (US)
Sterling Bank Announces 50% Increase in Quarterly Cash Dividend
MOUNT LAUREL, N.J., Jan. 27 /PRNewswire-FirstCall/ -- Sterling Bank
(NASDAQ:STNJ) today announced that its Board of Directors has
authorized a regular quarterly cash dividend payment of $0.03 per
common share. This cash dividend will be paid on February 23, 2005,
to shareholders of record as of February 11, 2005. This represents
an increase of 50% in the level of the regular quarterly cash
dividends paid by Sterling Bank, of $.02 per share. In making this
announcement today for the Board of Directors, Robert H. King,
President and Chief Executive Officer said, "This increase in the
quarterly cash dividend reflects the positive earnings progression
being achieved by Sterling Bank." Sterling Bank is a community bank
headquartered in Burlington County, New Jersey, with assets of $294
million as of December 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, 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, 2003, 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, Web site:
http://www.sterlingnj.com/
Copyright
Sterling Bank (NASDAQ:STNJ)
Historical Stock Chart
From Jun 2024 to Jul 2024
Sterling Bank (NASDAQ:STNJ)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Sterling Bank (MM) (NASDAQ): 0 recent articles
More Sterling Bank (MM) News Articles