Sterling Bank Announces Quarterly Cash Dividend
July 28 2006 - 1:27PM
PR Newswire (US)
MOUNT LAUREL, N.J., July 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 August 25, 2006,
to shareholders of record as of August 11, 2006. This represents
the eleventh 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 $342
million as of June 30, 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). 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). Sterling Bank cautions that the foregoing list of
important factors is not exclusive. Sterling Bank, and its
directors and executive officers, may be deemed to be
"participants" in Sterling Bank's solicitation of proxies in
connection with the proposed holding company reorganization and
merger. Information regarding the names of directors and executive
officers and their respective interests in the Bank by security
holdings or otherwise is set forth in the Bank's proxy statement
relating to the 2006 annual meeting of shareholders, which may be
obtained free of charge at the Bank's website at
http://www.sterlingnj.com/ or by calling R. Scott Horner,
Secretary, at 856-273-5900. Sterling Banks, Inc. will amend its
Registration Statement on Form S-4, originally filed with the
Securities and Exchange Commission (SEC), on April 28, 2006 (File
No. 333-133649) which will contain the proxy materials of
Farnsworth Bancorp, Inc. and Sterling Bank and certain other
information regarding the Bank. The Bank will also file its proxy
materials with the Federal Reserve Board. These proxy materials
will set forth complete details of the holding company
reorganization and merger. Investors will be able to obtain a copy
of the Bank's proxy materials free of charge at the SEC's Web site
at http://www.sec.gov/. The materials may also be available free of
charge at the Bank's website address listed above or by calling Mr.
Horner at the number listed above. Investors are urged to carefully
read the proxy materials when filed with the SEC because they will
contain important information. Investors should read the proxy
materials before making a decision regarding the merger. The
foregoing communication does not constitute an offer to sell any
securities and is not a solicitation of an offer to buy any
securities. Such an offer will only be made by means of a
prospectus. 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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