SOURCE: Stewardship Financial Corporation

June 21, 2006 14:23 ET

Stewardship Financial Corporation Declares Cash Dividend

MIDLAND PARK, NJ -- (MARKET WIRE) -- June 21, 2006 -- The Stewardship Financial Corporation (OTCBB: SSFN), parent company of Atlantic Stewardship Bank, Board of Directors has declared an $0.08 per share cash dividend to shareholders of record date July 14, 2006, payable August 1, 2006. This represents a 20.0 percent increase over the third quarter cash dividend paid in 2005, as adjusted for the 5 percent stock dividend paid in November 2005.

In announcing the cash dividend, Chairman Arie Leegwater and President and Chief Executive Officer Paul Van Ostenbridge stated, "The cash dividend is our third quarterly cash dividend to be paid in 2006, 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 and Wayne (3 offices), New Jersey. The eleventh branch is planned to open in Wyckoff, New Jersey during the first quarter of 2007. 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 for information regarding our products and services.

Contact Information

  • Contact:
    Tonni von Schaumburg
    630 Godwin Avenue
    Midland Park, NJ 07432
    201-444-7100