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|---------------------------------------------------------------------------------------
|Exhibit 11                                                                             
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|STERLING BANCORP AND SUBSIDIARIES
      Statement Re: Computation of Per Share Earnings
|                                                                                       

|                                                       |  |   | Three Months Ended
    June 30, |  |   | Six Months Ended
    June 30, | 
|------------------------------------------------------ |  | - | ------------------------------- |  | - | ----------------------------- | 
|                                                       |  |   |                                 |  |  
|                                                       |  |   | 2005                            |  |   | 2004                          | 
|                                                       |  |   |                                 |  |   |                               | 
|Net income available for common
          shareholders |  | $ | 6,056,153                       |  | $ | 6,564,601                     | 
|                                                       |  |   |                                 |  |   |                               | 
|                                                      
|Weighted average common
          shares outstanding   |  |   | 18,344,269                      |  |   | 18,364,046                    | 
|Add dilutive effect of:                                |  |   |                                 |  |   |                               | 
|Stock options                                          |  |   | 658,422                         |  |   | 818,649                       | 
|Convertible preferred stock                            |  |   |                                |  |   |                              | 
|                                                       |  |   |                                 |  |   |                               | 
|Adjusted for assumed diluted
          computation     |  |   | 19,002,691                      |  |   | 19,182,695                    | 
|                                                       |  |   |                                 |  |   |                               | 
|                                                       |  |   |                                 |  |   |                               | 
|Basic earnings per share                               |  | $ | 0.33                            |  | $ | 0.35                          | 
|                                                       |  |   |                                 |  |   |                               | 
|                                                       |  |   |                                 |  |   |                               | 
|Diluted earnings per share                             |  | $ | 0.33                            |  | $ | 0.34                          | 
|                                                       |  |   |                                 |  |   |                               | 

|40
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