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First Capital Factoring Portfolio Acquisition

May 18, 2015

Sterling Bancorp, through its principal subsidiary Sterling National Bank, today announced that it has completed the acquisition of a factoring portfolio from FCC, LLC, a subsidiary of First Capital Holdings, Inc. The acquisition adds 25% more core annual factoring volume to Sterling's current volume of over $900 million. First Capital is a privately-held provider of working capital financing and credit facilities in the form of Asset-Based Loans and Factoring arrangements.