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 
 June 30, |            | Six Months Ended 
 June 30, |  
|                                                                        |  |                               |            |                             |  
|                                                                        |  | 2010                          |            | 2009                        |   | 2010       |   | 2009 |           
|                                                                        |  |                               |            |                             |   |            |   |      |           
|Distributed
 earnings allocated to common stock                         |  | $                             | 2,407      |                             | $ | 3,438      |   | $    | 4,037      |  | $ | 6,875      |  
|                                                                        |  |                               |            |                             |   |            |   |      |            |  |   |            |  
|Undistributed
 earnings allocated to common stock                       |  |                               | (77        | )                           |   | (3,300     | ) |      | 220        |  |   | (3,967     | )
|                                                                        |  |                               |            |                             |   |            |   |      |            |  |   |            |  
|Net
 income available to common shareholders                            |  | $                             | 2,330      |                             | $ | 138        |   | $    | 4,257      |  | $ | 2,908      |  
|                                                                        |  |                               |            |                             |   |            |   |      |            |  |   |            |  
|                                                                        |  |                               |            |                             |   |            |   |      |            |  |   |            |  
|Weighted
 average common shares outstanding                             |  |                               | 25,752,172 |                             |   | 18,106,491 |   |      | 22,479,292 |  |   | 18,103,014 |  
|Add
 dilutive effect of:                                                |  |                               |            |                             |   |            |   |      |            |  |   |            |  
|Stock
 options                                                          |  |                               | 0          |                             |   | 44,230     |   |      | 4,885      |  |   | 119,927    |  
|                                                                        |  |                               |            |                             |   |            |   |      |            |  |   |            |  
|Adjusted
 for assumed diluted computation                               |  |                               | 25,752,172 |                             |   | 18,150,721 |   |      | 22,484,177 |  |   | 18,222,941 |  
|                                                                        |  |                               |            |                             |   |            |   |      |            |  |   |            |  
|                                                                        |  |                               |            |                             |   |            |   |      |            |  |   |            |  
|Net
 income available to common shareholders, per average common share: |  |                               |            |                             |   |            |   |      |            |  |   |            |  
|Basic                                                                   |  | $                             | 0.09       |                             | $ | 0.01       |   | $    | 0.19       |  | $ | 0.16       |  
|                                                                        |  |                               |            |                             |   |            |   |      |            |  |   |            |  
|Diluted                                                                 |  | $                             | 0.09       |                             | $ | 0.01       |   | $    | 0.19       |  | $ | 0.16       |  
|                                                                        |  |                               |            |                             |   |            |   |      |            |  |   |            |  

60

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