|                                                                                 
|---------------------------------------------------------------------------------
|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                                  | $                                | 3,841,057       |                                 | $
|(Loss)/Income from discontinued
       operations, net of tax                         |                                  | (774,315        | )                               |  
|                                                                                      |                                  |                 |                                 |  
|Net income available for
       common shareholders                                   | $                                | 3,066,742       |                                 | $
|                                                                                      |                                  |                 |                                 |  
|                                                                                     
|Weighted average common
       shares outstanding                                     |                                  | 17,910,268      |                                 |  
|Add dilutive effect of:                                                               |                                  |                 |                                 |  
|Stock options                                                                         |                                  | 311,287         |                                 |  
|                                                                                      |                                  |                 |                                 |  
|Adjusted for assumed diluted computation                                              |                                  | 18,221,555      |                                 |  
|                                                                                      |                                  |                 |                                 |  
|                                                                                     
|Income from continuing operations,
  net of tax, per average common share:            |                                  |                 |                                 |  
|Basic                                                                                 | $                                | 0.21            |                                 | $
|                                                                                      |                                  |                 |                                 |  
|Diluted                                                                               | $                                | 0.21            |                                 | $
|                                                                                      |                                  |                 |                                 |  
|                                                                                     
|(Loss)/Income from discontinued
  operations, net of tax, per
  average common share: |                                  |                 |                                 |  
|Basic                                                                                 |                                  | ($         0.04 | )                               |  
|                                                                                      |                                  |                 |                                 |  
|Diluted                                                                               |                                  | ($         0.04 | )                               |  
|                                                                                      |                                  |                 |                                 |  
|                                                                                     
|Net income/(loss) per average
  common share:                                         |                                  |                 |                                 |  
|Basic                                                                                 | $                                | 0.17            |                                 |  
|                                                                                      |                                  |                 |                                 |  
|Diluted                                                                               | $                                | 0.17            |                                 |  
|                                                                                      |                                  |                 |                                 |  

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

|42
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