Sterling Bank Announces Payment of Quarterly Cash Dividend
October 27 2005 - 3:30PM
PR Newswire (US)
MOUNT LAUREL, N.J., Oct. 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 November 23, 2005,
to shareholders of record as of November 10, 2005. This represents
the eighth consecutive quarterly cash dividend authorized and paid
by Sterling Bank. Sterling Bank is a community bank headquartered
in Burlington County, New Jersey, with assets of $343 million as of
September 30, 2005. 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.
Additionally, Sterling Bank has announced a seventh retail branch
which is planned for opening during the 4th quarter of 2005 in
Voorhees Township, 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 Capital 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, 2004, 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/
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