Stewardship Financial Corporation Declares Cash and Stock Dividends
MIDLAND PARK, NJ--(Marketwire - September 19, 2007) - The Board of Directors of Stewardship
Financial Corporation (NASDAQ: SSFN), parent company of Atlantic
Stewardship Bank, has declared a $0.09 per share cash dividend to
shareholders of record October 15, 2007, payable November 1, 2007. This
represents an 18.1 percent increase over the fourth quarter cash dividend
paid in 2006, as adjusted for the 5 percent stock dividend paid in November
2006.
The Board also declared a 5 percent stock dividend to shareholders of
record October 15, 2007, payable November 15, 2007.
In announcing the two dividends, Chairman William C. Hanse and President
and Chief Executive Officer Paul Van Ostenbridge stated, "The cash dividend
is our fourth quarterly cash dividend to be paid in 2007. Cash dividends
have been paid annually since 1990. The stock dividend represents the
tenth annual stock dividend paid by Stewardship Financial Corporation since
1998, and is a result of continued strong earnings."
Stewardship Financial Corporation's subsidiary, Atlantic Stewardship Bank,
has banking offices in Midland Park, Hawthorne (2 offices), Ridgewood,
Montville, Pequannock, Waldwick, Wayne (3 offices) and Wyckoff, New Jersey.
The bank recently opened its twelfth branch in Westwood with a grand
opening scheduled for September 29, 2007. The bank is working toward
opening its thirteenth branch in North Haledon, New Jersey during the first
quarter of 2008. Atlantic Stewardship Bank, opened in 1985, is a community
bank serving individuals and businesses, and is well known for tithing 10
percent of its pre-tax profits to Christian and local charitable
organizations. Please visit our website at www.asbnow.com or call
201-444-7100 for information regarding our products and services.
Contact Information: Contact:
Mary Beth Steiginga
630 Godwin Avenue
Midland Park, NJ 07432
201-444-7100