Sterling Bank Declares Stock Dividend
July 28 2006 - 1:30PM
PR Newswire (US)
MOUNT LAUREL, N.J., July 28 /PRNewswire-FirstCall/ -- Sterling Bank
(NASDAQ:STNJ) today announced that its Board of Directors has
declared a 5% stock dividend on the outstanding common shares of
the Bank. This stock dividend will be issued on September 8, 2006,
to shareholders of record as of the close of business on August 25,
2006. 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, +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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