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

|                                                                                                 | Three Months
      Ended
      September 30, |            | Nine Months
      Ended
      September 30, |  
|------------------------------------------------------------------------------------------------ | -------------------------------------------- | ---------- | ------------------------------------------- | -
|
|
|
|Income from
      continuing operations,
        net of tax                                      | $                                            | 5,002,989  |                                             | $
|(Loss) income
      from discontinued
        operations, net of tax:                            |                                              | (9,420,480 | )                                           |  
|                                                                                                 |                                              |            |                                             |  
|Net (loss)
      income available for
        common shareholders                                | $                                            | (4,417,491 | )                                           | $
|                                                                                                 |                                              |            |                                             |  
|                                                                                                 |                                              |            |                                             |  
|Weighted
      average common
        shares outstanding                                         |                                              | 18,712,072 |                                             |  
|Add dilutive
      effect of:                                                                    |                                              |            |                                             |  
|Stock
      options                                                                              |                                              | 518,751    |                                             |  
|                                                                                                 |                                              |            |                                             |  
|                                                                                                 |                                              |            |                                             |  
|Adjusted
      for assumed diluted
        computation                                           |                                              | 19,230,823 |                                             |  
|                                                                                                 |                                              |            |                                             |  
|                                                                                                 |                                              |            |                                             |  
|Income from
      continuing operations,
        net of tax, per average   common share:         |                                              |            |                                             |  
|Basic                                                                                            | $                                            | 0.27       |                                             | $
|                                                                                                 |                                              |            |                                             |  
|Diluted                                                                                          | $                                            | 0.27       |                                             | $
|                                                                                                 |                                              |            |                                             |  
|                                                                                                 |                                              |            |                                             |  
|(Loss) income
      from discontinued
        operations, net of tax, per average  common share: |                                              |            |                                             |  
|Basic                                                                                            |                                              | ($ 0.50    | )                                           | $
|                                                                                                 |                                              |            |                                             |  
|Diluted                                                                                          |                                              | ($ 0.50    | )(1)                                        | $
|                                                                                                 |                                              |            |                                             |  
|                                                                                                 |                                              |            |                                             |  
|Net (loss)
      income, per average  common share                                               |                                              |            |                                             |  
|Basic                                                                                            |                                              | ($ 0.23    | )                                           | $
|                                                                                                 |                                              |            |                                             |  
|Diluted                                                                                          |                                              | ($ 0.23    | )(1)                                        | $
|                                                                                                 |                                              |            |                                             |  

|(1) |  | Due
to a loss for the period, zero incremental shares are included because the effect would
be antidilutive.
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|58
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