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Public Offering

February 11, 2015

Sterling Bancorp, the parent company of Sterling National Bank, today reported the closing of its previously announced public offering of 6.9 million shares of common stock, including 900,000 shares of common stock issued upon the exercise in full by the underwriters of their option, at a public offering price of $13.00 per share for gross proceeds of approximately $89.7 million and net proceeds, after underwriting discounts and commissions and estimated offering expenses, of approximately $84.8 million.

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