STNJ Sterling Bank (MM)

Sterling Bank Declares Stock Dividend MOUNT LAUREL, N.J., June 21 /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 July 31, 2004 to shareholders of record as of the close of business on June 30, 2004. In announcing the stock dividend, Robert H. King, President and CEO stated, "This action by the Board of Directors is consistent with past practices, and further validates our organization wide commitment to enhancing shareholder value, and providing our shareholders with a consistent and solid return on their investment." Sterling Bank is a community bank headquartered in Burlington County, New Jersey, with assets of $277 million as of March 31, 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 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 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; either expressed or implied, which are provided to assist the reader in understanding anticipated future financial performance. These statements involve certain risks, uncertainties, estimates and assumptions made by management, which are subject to factors beyond the company's control and could impede its ability to achieve these goals. These factors include general economic conditions, trends in interest rates, the ability of our borrowers to repay their loans, and results of regulatory examination, among other factors. 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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