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                                                                      EXHIBIT 12

STERLING BANCORP AND SUBSIDIARIES
STATEMENT RE COMPUTATION OF RATIOS [1]



                                                   Years Ended December 31,
                                               --------------------------------
                                               2002          2001          2000
                                               ----          ----          ----
                                                                  
EARNINGS TO FIXED CHARGES (1)
Including interest on deposits                 2.58x         2.15x         1.81x

Excluding interest on deposits                 6.08x         4.62x         3.28x


(1) For purposes of computing the ratios of earnings to fixed charges, earnings
represent net income plus applicable income taxes and fixed charges. Fixed
charges, excluding interest on deposits, include interest expense (other than on
deposits) and the proportion deemed representative of the interest factor of
rent expense, net of income from subleases. Fixed charges, including interest on
deposits, include all interest expense and the proportion deemed representative
of the interest factor of rent expense, net of income from subleases. Pretax
earnings required for preferred stock dividends were computed using tax rates
for the applicable year.