Sterling Bank Declares Cash Dividend
October 28 2004 - 4:38PM
PR Newswire (US)
Sterling Bank Declares Cash Dividend MOUNT LAUREL, N.J., Oct. 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 November 24,
2004, to shareholders of record as of November 10, 2004. Robert H.
King, President and CEO, commented, "Sterling Bank's progressive
development has produced enhanced performance in the form of record
growth and record earnings, and the authorization by the Board of
Directors of this fourth quarterly cash dividend during 2004
further reflects our strong progress." Sterling Bank is a community
bank headquartered in Burlington County, New Jersey, with assets of
$289 million as of September 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, 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. These factors include, among others,
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. 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/
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