Exhibit 11
STERLING BANCORP AND SUBSIDIARIES
Statement Re: Computation of Per Share Earnings
<Table>
Three Months Ended
March 31,
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2002 2001
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Net income $ 5,266,301 $ 4,536,285
Less: preferred dividends 28,376 24,783
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Net income available for common shareholders
and adjusted for diluted computation $ 5,237,925 $ 4,511,502
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Weighted average common shares outstanding 10,104,482 $10,028,109
Add dilutive effect of:
Stock options 457,576 346,830
Convertible preferred stock 234,415 237,878
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Adjusted for assumed diluted computation 10,796,473 10,612,817
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Basic earnings per share $0.52 $0.45
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Diluted earnings per share $0.49 $0.43
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</Table>
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