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
the calculation of net earnings allocated to common stock and a reconciliation
of the number of shares used in the calculation of basic and diluted earnings
per common share:

|                                                                   |  |                               |            |      |   |            | 
|------------------------------------------------------------------ |  | ----------------------------- | ---------- | ---- | - | ---------- | 
|                                                                   |  | Three Months Ended
 March 31, |           
|                                                                   |  |                               |           
|                                                                   |  | 2011                          |            | 2010 |  
|                                                                   |  |                               |            |      |  
|                                                                  
|Distributed
 earnings allocated to common stock                    |  | $                             | 2,768      |      | $ | 1,630      | 
|                                                                   |  |                               |            |      |   |            | 
|Undistributed
 earnings allocated to common stock                  |  |                               | 522        |      |   | 297        | 
|                                                                   |  |                               |            |      |   |            | 
|Net earnings
 allocated to common stock                            |  | $                             | 3,290      |      | $ | 1,927      | 
|                                                                   |  |                               |            |      |   |            | 
|                                                                   |  |                               |            |      |   |            | 
|Weighted
 average common shares outstanding                        |  |                               | 27,351,584 |      |   | 19,208,189 | 
|Add dilutive
 effect of:                                           |  |                               |            |      |   |            | 
|Stock options                                                      |  |                               |           |      |   | 4,579      | 
|                                                                   |  |                               |            |      |   |            | 
|Adjusted for
 assumed diluted computation                          |  |                               | 27,351,584 |      |   | 19,212,768 | 
|                                                                   |  |                               |            |      |   |            | 
|                                                                   |  |                               |            |      |   |            | 
|Net earnings
 allocated to common stock, per average common share: |  |                               |            |      |   |            | 
|Basic                                                              |  | $                             | 0.12       |      | $ | 0.10       | 
|                                                                   |  |                               |            |      |   |            | 
|Diluted                                                            |  | $                             | 0.12       |      | $ | 0.10       | 
|                                                                   |  |                               |            |      |   |            | 

62

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