Sterling Bank (NASDAQ:STNJ)
Historical Stock Chart
From Jul 2019 to Jul 2024
Sterling Bank Announces Expansion of Its Retail Network Into
Voorhees Township, New Jersey
MOUNT LAUREL, N.J., March 9 /PRNewswire-FirstCall/ -- Sterling Bank
(NASDAQ:STNJ), today announced that it gained local community approval from
Voorhees Township, Camden County, New Jersey, where it plans to build and
operate a retail branch. The facility will be constructed adjacent to the Town
Center mixed use development known as Main Street. The full-service Community
Banking Center will be conveniently located at the intersection of Kresson Road
and Centennial Boulevard. It is anticipated that the newly constructed facility
will be completed and occupied by late Summer 2005. The development plan is
subject to the attainment of authorization of both the New Jersey Department of
Banking and Insurance, and the Federal Reserve Bank of Philadelphia.
Robert H. King, President and CEO, noted that, "This will be our seventh retail
facility, and operations will be patterned after our customer- and
community-focused style that couples premier client-centered products and
services which are delivered with enhanced levels of responsiveness and
service. We are quite pleased to have the opportunity to expand into Voorhees
Township."
Sterling Bank is a community bank headquartered in Southern New Jersey, with
assets of $294 million as of December 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, 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, 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/