Exhibit 12

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

   Years Ended December 31,

                                      2003        2002         2001
                                     ------      ------       ------

Earnings to fixed charges (1)
Including interest on deposits        2.97x       2.46x        2.15x

Excluding interest on deposits        5.38x       5.26x        4.62x

(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.