EXHIBIT 11
STERLING BANCORP AND SUBSIDIARIES
STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
THREE MONTHS ENDED SIX MONTHS ENDED
JUNE 30, JUNE 30,
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2002 2001 2002 2001
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NET INCOME $ 5,230,609 $ 4,705,227 $10,496,910 $ 9,241,512
LESS: PREFERRED DIVIDENDS 28,178 24,461 56,554 49,244
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NET INCOME AVAILABLE FOR COMMON
SHAREHOLDERS AND ADJUSTED FOR
DILUTED COMPUTATION $ 5,202,431 $ 4,680,766 $10,440,356 $ 9,192,268
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WEIGHTED AVERAGE COMMON
SHARES OUTSTANDING 10,038,682 10,103,651 10,070,931 10,068,938
ADD DILUTIVE EFFECT OF:
STOCK OPTIONS 473,517 381,045 457,419 252,176
CONVERTIBLE PREFERRED STOCK 233,429 236,646 233,887 237,174
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ADJUSTED FOR ASSUMED DILUTED
COMPUTATION 10,745,628 10,721,342 10,762,237 10,558,288
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BASIC EARNINGS PER SHARE $ 0.52 $ 0.46 $ 1.04 $ 0.91
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DILUTED EARNINGS PER SHARE $ 0.48 $ 0.44 $ 0.97 $ 0.87
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