Sterling Bancorp 10-Q 2001 Q3 Quarterly report

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
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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