Sterling Banks, Inc. Reports 2007 Operating Results Feb 13, 2008
From those expansion initiatives, Sterling Bank opened a newly constructed retail facility in Voorhees Township, NJ, in November, 2005; formed Sterling Banks, Inc., a bank holding company, which acquired Farnsworth Bancorp, Inc. and its' four branch operating subsidiary, Peoples Savings Bank, in March 2007 and then subsequently discontinued operations of one of the acquired branches; and opened a newly constructed retail branch in Delran, NJ in June 2007 ... Included in noninterest expenses is... (PR Newswire)
Sterling Banks, Inc. Reports Third Quarter 2007 Earnings Nov 6, 2007
Included in these results are the cost of the significant transition of Sterling Bank, through the formation of Sterling Banks, Inc. and the subsequent acquisition of Farnsworth Bancorp, Inc. and its' primary operating subsidiary, Peoples Savings Bank ... Included in this increase is an increase in compensation expense of $787,000, or 17%, is primarily related to personnel costs for staffing increases due to the merger with Farnsworth Bancorp in March 2007; Occupancy, equipment and data... (PR Newswire)
Sterling Banks, Inc. Reports Second Quarter 2007 Earnings, Successful Post Acquisition Systems Consolidation, and Opening of 12th Branch Aug 9, 2007
These results reflect the completion on March 16, 2007 of the acquisition of Farnsworth Bancorp, Inc., and its primary operating subsidiary, Peoples Savings Bank, as previously announced ... An increase in compensation expense of $428,000, or 14%, is primarily related to personnel costs for staffing increases due to the merger with Farnsworth Bancorp in March 2007. (PR Newswire)
Sterling Bank Completes Holding Company Reorganization and Acquisition of Farnsworth Bancorp, Inc. Mar 17, 2007
MT LAUREL, N.J., March 16 /PRNewswire-FirstCall/ -- Sterling Bank (Nasdaq: ) today announced the completion of its reorganization into a holding company structure and the simultaneous completion of the acquisition of Farnsworth Bancorp, Inc. and its subsidiary, Peoples Savings Bank. Sterling Banks, Inc. is the new holding company for Sterling Bank, which will acquire all of the operations of Peoples Savings Bank. (PR Newswire)
Federal Reserve Board Approves Sterling Bank Inc.'s Acquisition of Farnsworth Bancorp, Inc. and Sterling Bank Announces Results of Farnsworth Shareholders Elections and Closing Date Mar 2, 2007
MT LAUREL, N.J., March 1 /PRNewswire-FirstCall/ -- Sterling Bank (Nasdaq: ) and Farnsworth Bancorp, Inc. (OTC Bulletin Board: FNSW) today announced that on February 28, 2007, the Board of Governors of the Federal Reserve System approved the proposed reorganization of Sterling Bank into a holding company, Sterling Banks, Inc., and the subsequent merger between Sterling Banks, Inc. and Farnsworth Bancorp, Inc. The companies expect the holding company reorganization and merger to occur on or about... (PR Newswire)
Sterling Bank Reports 2006 Earnings Feb 10, 2007
Robert H. King, President and CEO, noted, "From the backdrop of an inverted yield curve and growing credit quality concerns, the banking industry is experiencing challenges. Current commentary has documented the significant levels of competition in both basic lending and deposit gathering activities, which have caused the cost of funds to escalate at a rapid pace while restraining expansion of interest earned. Sterling Bank continues to prepare for the assimilation of Farnsworth Bancorp, Inc.... (PR Newswire)
