Sterling Financial Corporation of Lancaster, Pa., Announces Quarterly Dividend for Third Quarter 2006
23 August 2006 - 7:20AM
PR Newswire (US)
LANCASTER, Pa., Aug. 22 /PRNewswire-FirstCall/ -- The board of
directors of Sterling Financial Corporation (NASDAQ:SLFI) declared
a $0.15 per share cash dividend for the third quarter of 2006. This
$0.15 per share quarterly dividend represents a 7.1 percent
increase in the quarterly dividend over the dividend of $0.14 in
both the second quarter of 2006 and the third quarter of 2005. In
addition, it represents a dividend yield of 2.78 percent, based on
Sterling's closing market price of $21.62 on Aug. 21, 2006. The
third quarter dividend is payable on Oct. 2, 2006, to shareholders
of record on Sept. 15, 2006. Sterling Financial Corporation has an
18-year record of consecutively increasing shareholder dividends.
With assets of approximately $3.1 billion and investment assets
under administration of $2.5 billion, Sterling Financial
Corporation (NASDAQ:SLFI) is a diversified financial services
company based in Lancaster, Pa. Sterling Banking Services Group
affiliates offer a full range of banking services in south-central
Pennsylvania, northern Maryland and northern Delaware; the group
also offers correspondent banking services in the mid-Atlantic
region to other companies within the financial services industry.
Sterling Financial Services Group affiliates provide specialty
commercial financing; fleet and equipment leasing; investment,
trust and brokerage services; insurance services; and human
resources consulting services. Visit http://www.sterlingfi.com/ for
more information. Banking Services Group -- Banks: Pennsylvania:
Bank of Lancaster County, N.A.; Bank of Lebanon County;
PennSterling Bank; and Pennsylvania State Bank. Pennsylvania and
Maryland: Bank of Hanover and Trust Company. Maryland: First
National Bank of North East. Delaware: Delaware Sterling Bank &
Trust Company. Correspondent banking services: Correspondent
Services Group (provider of Sterling services to other financial
institutions). Financial Services Group -- Specialty commercial
financing: Equipment Finance LLC (commercial financing company for
the forestry, land clearing and construction industries). Fleet and
equipment leasing: Town & Country Leasing, LLC (nationwide
fleet and equipment leasing company). Trust, investment and
brokerage services: Sterling Financial Trust Company (trust and
investment services), Church Capital Management, LLC (registered
investment advisor) and Bainbridge Securities Inc. (securities
broker/dealer). Insurance services: Lancaster Insurance Group, LLC
(independent insurance agency for personal, property and business
insurance); StoudtAdvisors (employee benefits consulting and
brokerage firm); and Sterling Financial Settlement Services, LLC
(title insurance agency). Human resources consulting: Professional
Services Group (human resources consulting services provider for
small to medium size businesses). This news release may contain
forward-looking statements as defined by the Private Securities
Litigation Reform Act of 1995. Actual results and trends could
differ materially from those set forth in such statements due to
various factors. Such factors include costs and efforts required to
integrate aspects of the operations of the companies being more
difficult than expected, anticipated merger-related synergies not
being achieved timely or not being achieved at all, the possibility
that increased demand or prices for Sterling's financial services
and products may not occur, changing economic and competitive
conditions, volatility in interest rates, technological
developments, costs associated with complying with laws, rules and
regulations, and other risks and uncertainties, including those
detailed in Sterling's filings with the Securities and Exchange
Commission. DATASOURCE: Sterling Financial Corporation CONTACT:
Financial, Tito Lima, Chief Financial Officer, +1-717-581-6030, ,
or Media, Joe Patterson, Vice President, Director of Corporate
Communications, +1-717-735-5651, +1-717-940-2759 mobile, , both of
Sterling Financial Corporation Web site: http://www.sterlingfi.com/
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