Exhibit 11

STERLING BANCORP AND SUBSIDIARIES
Statement Re: Computation of Per Share Earnings(dollars in thousands, except per share data)

Earnings per common share is computed using
the two-class method. Basic earnings per common share is computed by dividing
net earnings allocated to common stock by the weighted-average number of common
shares outstanding during the applicable period, excluding participating
securities. Participating securities include non-vested stock awards such as
awards of restricted shares of common stock. Non-vested stock awards are
considered participating securities because holders of these securities receive
non-forfeitable dividends at the same rate as holders of the Companys common
stock. Diluted earnings per common share is computed using the weighted-average
number of shares determined for the basic earnings per common share computation
plus the dilutive effect of stock compensation using the treasury stock method.

The following table presents a reconciliation
of the number of shares used in the calculation of basic and diluted earnings
per common share.

|                                                                   |  |                                   |            |                                  |   |            |  |      |            |   |   |            |  
|------------------------------------------------------------------ |  | --------------------------------- | ---------- | -------------------------------- | - | ---------- |  | ---- | ---------- | - | - | ---------- | -
|                                                                   |  | Three Months Ended
 September 30, |            | Nine Months Ended
 September 30, |  
|                                                                   |  |                                   |            |                                  |  
|                                                                   |  | 2010                              |            | 2009                             |   | 2010       |  | 2009 |           
|                                                                   |  |                                   |            |                                  |   |            |  |      |           
|                                                                   |  |                                   |            |                                  |   |            |  |      |            |   |   |            |  
|Distributed earnings allocated to common
 stock                    |  | $                                 | 2,406      |                                  | $ | 1,628      |  | $    | 6,444      |   | $ | 8,503      |  
|                                                                   |  |                                   |            |                                  |   |            |  |      |            |   |   |            |  
|Undistributed earnings allocated to common
 stock                  |  |                                   | (5,724     | )                                |   | 124        |  |      | (5,510     | ) |   | (3,843     | )
|                                                                   |  |                                   |            |                                  |   |            |  |      |            |   |   |            |  
|Net earnings allocated to common
 stock                            |  | $                                 | (3,318     | )                                | $ | 1,752      |  | $    | 934        |   | $ | 4,660      |  
|                                                                   |  |                                   |            |                                  |   |            |  |      |            |   |   |            |  
|                                                                   |  |                                   |            |                                  |   |            |  |      |            |   |   |            |  
|Weighted average common shares outstanding                         |  |                                   | 26,840,763 |                                  |   | 18,106,491 |  |      | 23,787,733 |   |   | 18,104,057 |  
|Add dilutive effect of: Stock options                              |  |                                   |           |                                  |   | 13,921     |  |      | 3,427      |   |   | 88,528     |  
|                                                                   |  |                                   |            |                                  |   |            |  |      |            |   |   |            |  
|Adjusted for assumed diluted computation                           |  |                                   | 26,840,763 |                                  |   | 18,120,412 |  |      | 23,791,160 |   |   | 18,192,585 |  
|                                                                   |  |                                   |            |                                  |   |            |  |      |            |   |   |            |  
|                                                                   |  |                                   |            |                                  |   |            |  |      |            |   |   |            |  
|Net earnings allocated to common
 stock, per average common share: |  |                                   |            |                                  |   |            |  |      |            |   |   |            |  
|Basic                                                              |  | $                                 | (0.12      | )                                | $ | 0.10       |  | $    | 0.04       |   | $ | 0.26       |  
|                                                                   |  |                                   |            |                                  |   |            |  |      |            |   |   |            |  
|Diluted                                                            |  | $                                 | (0.12      | )                                | $ | 0.10       |  | $    | 0.04       |   | $ | 0.26       |  
|                                                                   |  |                                   |            |                                  |   |            |  |      |            |   |   |            |  

57

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