STNJ Sterling Bank (MM)

Sterling Bank Declares Cash Dividend MOUNT LAUREL, N.J., Oct. 28 /PRNewswire-FirstCall/ -- Sterling Bank (NASDAQ:STNJ), today announced that its Board of Directors has declared a cash dividend of $0.02 per common share. This dividend is payable on November 24, 2004, to shareholders of record as of November 10, 2004. Robert H. King, President and CEO, commented, "Sterling Bank's progressive development has produced enhanced performance in the form of record growth and record earnings, and the authorization by the Board of Directors of this fourth quarterly cash dividend during 2004 further reflects our strong progress." Sterling Bank is a community bank headquartered in Burlington County, New Jersey, with assets of $289 million as of September 30, 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 by the Federal Deposit Insurance Corporation up to the applicable regulatory limits per depositor. 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. These factors include, among others, 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. 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/

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