Sterling Bank Announces Expansion of Its Retail Network Into Voorhees Township, New Jersey
March 09 2005 - 4:04PM
PR Newswire (US)
Sterling Bank Announces Expansion of Its Retail Network Into
Voorhees Township, New Jersey MOUNT LAUREL, N.J., March 9
/PRNewswire-FirstCall/ -- Sterling Bank (NASDAQ:STNJ), today
announced that it gained local community approval from Voorhees
Township, Camden County, New Jersey, where it plans to build and
operate a retail branch. The facility will be constructed adjacent
to the Town Center mixed use development known as Main Street. The
full-service Community Banking Center will be conveniently located
at the intersection of Kresson Road and Centennial Boulevard. It is
anticipated that the newly constructed facility will be completed
and occupied by late Summer 2005. The development plan is subject
to the attainment of authorization of both the New Jersey
Department of Banking and Insurance, and the Federal Reserve Bank
of Philadelphia. Robert H. King, President and CEO, noted that,
"This will be our seventh retail facility, and operations will be
patterned after our customer- and community-focused style that
couples premier client-centered products and services which are
delivered with enhanced levels of responsiveness and service. We
are quite pleased to have the opportunity to expand into Voorhees
Township." Sterling Bank is a community bank headquartered in
Southern 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, , both of Sterling Bank
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