STNJ Sterling Bank (MM)

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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