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Park Sterling Corporation Announces Initiation Of Quarterly Cash Dividend On Common Shares

Stocks in this article: PSTB

CHARLOTTE, N.C., July 26, 2013 (GLOBE NEWSWIRE) -- Park Sterling Corporation (Nasdaq:PSTB), the holding company for Park Sterling Bank, today announced that its Board of Directors has approved the initiation of a quarterly cash dividend to its common shareholders and has declared an initial quarterly dividend of $0.02 per common share, payable on August 20, 2013 to all shareholders of record as of the close of business on August 6, 2013. This is the first cash dividend paid to common shareholders in the company's history. Future dividends will be subject to Board approval.

About Park Sterling Corporation

Park Sterling Corporation, the holding company for Park Sterling Bank, is headquartered in Charlotte, North Carolina. Park Sterling, a regional community-focused financial services company with approximately $2 billion in assets, is the largest community bank in the Charlotte area and has 43 banking offices stretching across the Carolinas and into North Georgia. The bank serves professionals, individuals, and small and mid-sized businesses by offering a full array of financial services, including deposit, mortgage brokerage, cash management, consumer and business finance, and wealth management. Park Sterling prides itself on being large enough to help customers achieve their financial aspirations, yet small enough to care if they do. Park Sterling is focused on building a banking franchise that is noted for sound risk management, strong community-focus and exceptional customer service. For more information, visit www.parksterlingbank.com . Park Sterling Corporation shares are traded on NASDAQ under the symbol PSTB.

Forward-Looking Statements

This press release contains statements about future dividends that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations and are subject to a number of factors that could cause actual events to differ materially from those anticipated, including without limitation future results of operations and financial condition, approval of the declaration of any quarterly dividend by Park Sterling's Board of Directors and the precautionary statements included in Park Sterling's filings with the SEC, including without limitation the "Risk Factors" section of its Form 10-K. Park Sterling undertakes no obligation to update publicly any forward-looking statements.

CONTACT: David Gaines
         Chief Financial Officer
         (704) 716-2134
         david.gaines@parksterlingbank.com

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