SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) December 14, 2011
Stewardship Financial Corporation
(Exact Name of Registrant as Specified in its Charter)
| New Jersey | 1-33377 | 22-3351447 |
| (State or Other Jurisdiction of | (Commission | (IRS Employer |
| Incorporation) | File Number) | Identification No.) |
| 630 Godwin Avenue, Midland Park, NJ | 07432 | |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code (201) 444-7100
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (See General Instruction A.2. below):
| £ | Written communications pursuant to Rule 425 under the Securities Act (17CFR230.425) |
| £ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17CFR 240.14a-12) |
| £ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17CFR 240.14d-2(b)) |
| £ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17CFR 240.13e-4(c)) |
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Item 8.01. Other Events
On December 14, 2011, Stewardship Financial Corporation issued a press release announcing a $0.05 per share cash dividend to common stockholders of record on January 13, 2012, payable February 1, 2012. A copy of the press release is attached hereto as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits
(d) The following exhibit is furnished pursuant to Item 8.01.
| Exhibit No. | Description | ||
| Exhibit 99.1 | Press Release dated December 14, 2011 |
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Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: December 15, 2011 | Stewardship Financial Corporation |
| /s/ Claire M. Chadwick | |
| Claire M. Chadwick | |
| Senior Vice President and | |
| Chief Financial Officer |
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Exhibit 99.1
PRESS RELEASE
STEWARDSHIP FINANCIAL CORPORATION
DECLARES CASH DIVIDEND
Midland Park, NJ – December 14, 2011 – The Board of Directors of Stewardship Financial Corporation (NASDAQ: SSFN), parent company of Atlantic Stewardship Bank, has declared a $0.05 per share cash dividend. Common stockholders of record as of January 13, 2012 will be paid the dividend on February 1, 2012.
In announcing the dividend, Chairman William C. Hanse stated, “The Board of Directors is pleased to continue to recognize our shareholders with this cash dividend. We remain diligent in reviewing the Corporation’s dividends and continue to strive to provide value to our shareholders as well as give back to the community through the bank’s unique tithing mission.”
Paul Van Ostenbridge, President and Chief Executive Officer continued, “The board closely monitors the dividend policy in conjunction with capital levels to ensure the Corporation remains healthy and well capitalized for the future.” Van Ostenbridge also notified shareholders,”In order to more appropriately assess quarterly earnings before the declaration of a dividend, the Corporation anticipates that any future dividends will be announced the month after the quarter end. These dividends will have a record date on or about the first of the month, and will be paid on or about the fifteenth of the month following the announcement.”
Stewardship Financial Corporation’s subsidiary, the Atlantic Stewardship Bank, has 13 banking offices in Midland Park, Hawthorne (2), Montville, North Haledon, Pequannock, Ridgewood, Waldwick, Wayne (3), Westwood and Wyckoff, New Jersey. The bank is known for tithing 10% of its pre-tax profits to Christian and local charities. To date, the Bank’s total tithe donations exceed $7.3 million.
We invite you to visit our website at www.asbnow.com for additional information.
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