Sterling Bank Announces Payment of Quarterly Cash Dividend
April 28 2006 - 12:39PM
PR Newswire (US)
MOUNT LAUREL, N.J., April 28 /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 May 25, 2006, to
shareholders of record as of May 15, 2006. This represents the
tenth 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 $354 million as of
March 31, 2006. Sterling Bank's main office is located in Mount
Laurel, New Jersey, and its six 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 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, 2005, Quarterly Reports on Form 10-QSB, and
Current Reports on Form 8-K. DATASOURCE: Sterling Bank CONTACT:
Robert H. King, President, , or R. Scott Horner, Executive Vice
President, , both of Sterling Bank, +1-856-273-5900 Web site:
http://www.sterlingnj.com/
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