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Exhibit 11





STERLING BANCORP AND SUBSIDIARIES
Statement Re: Computation of Per Share Earnings

|                                                                                  |             |                             |           |                    |         |                   |           |           |         |      |            |           |         |   |            |           |         | 
|--------------------------------------------------------------------------------- | ----------- | --------------------------- | --------- | ------------------ | ------- | ----------------- | --------- | --------- | ------- | ---- | ---------- | --------- | ------- | - | ---------- | --------- | ------- | 
|                                                                                  |             |                             |           | Three Months Ended |         | Nine Months Ended
|                                                                                  |             |                             |           | September 30,      |         | September 30,    
|                                                                                  |             |                             |           |                    |         |                  
|                                                                                  |             |                             |           | 2001               |         | 2000              |           | 2001      |         | 2000
|                                                                                  |             |                             |           |                    |         |                   |           |           |         |     
|Net
income                                                                        |             | $                           | 4,992,721 |                    |         | $                 | 4,186,095 |           |         | $    | 14,234,233 |           |         | $ | 12,063,312 |          
|                                                                                 
|                                                                                 
|                                                                                 
|                                                                                 
|Less: preferred dividends                                                         |             |                             | 24,370    |                    |         |                   | 20,540    |           |         |      | 73,614     |           |         |   | 62,067     |          
|                                                                                  |             |                             |           |                    |         |                   |           |           |         |      |            |           |         |   |            |          
|Net income available for common
shareholders and adjusted for
diluted computation |             | $                           | 4,968,351 |                    |         | $                 | 4,165,555 |           |         | $    | 14,160,619 |           |         | $ | 12,001,245 |          
|                                                                                  |             |                             |           |                    |         |                   |           |           |         |      |            |           |         |   |            |          
|                                                                                  |             |                             |           |                    |         |                   |           |           |         |      |            |           |         |   |            |          
|                                                                                 
|                                                                                 
|                                                                                 
|                                                                                 
|Weighted average common
shares outstanding                                        |             |                             | 9,314,674 |                    |         |                   | 9,091,680 |           |         |      | 9,193,978  |           |         |   | 9,133,057  |          
|                                                                                 
|                                                                                 
|                                                                                 
|                                                                                 
|Add dilutive effect of:                                                           |             |                             |           |                    |         |                   |           |           |         |      |            |           |         |   |            |          
|                                                                                 
|                                                                                 
|                                                                                 
|                                                                                 
|                                                                                  |             | Stock options               |           |                    | 407,931 |                   |           |           | 70,985  |      |            |           | 301,791 |   |            |           |        | 
|                                                                                 
|                                                                                 
|                                                                                 
|                                                                                 
|                                                                                  |             | Convertible preferred stock |           |                    | 235,333 |                   |           |           | 238,961 |      |            |           | 236,577 |   |            |           | 240,524 | 
|                                                                                 
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|                                                                                 
|Adjusted for assumed diluted                                                      |             |                             |           |                    |         |                   |           |           |         |      |            |           |         |   |            |          
|                                                                                  |             |                             |           |                    |         |                   |           |           |         |      |            |           |         |   |            |          
|                                                                                  | computation |                             |           | 9,957,938          |         |                   |           | 9,401,626 |         |      |            | 9,732,346 |         |   |            | 9,373,581 |        
|                                                                                  |             |                             |           |                    |         |                   |           |           |         |      |            |           |         |   |            |          
|Basic
earnings per share                                                          |             | $                           | 0.53      |                    |         | $                 | 0.46      |           |         | $    | 1.54       |           |         | $ | 1.32       |          
|                                                                                  |             |                             |           |                    |         |                   |           |           |         |      |            |           |         |   |            |          
|Diluted earnings per share                                                        |             | $                           | 0.50      |                    |         | $                 | 0.45      |           |         | $    | 1.46       |           |         | $ | 1.28       |          
|                                                                                  |             |                             |           |                    |         |                   |           |           |         |      |            |           |         |   |            |          

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