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STERLING NATIONAL BANK ELECTS ALBERT SARNOFF A DIRECTOR

 STERLING NATIONAL BANK ELECTS ALBERT SARNOFF A DIRECTOR
 NEW YORK, Sept. 24 /PRNewswire/ -- Louis J. Cappelli, chairman of Sterling National Bank & Trust Company of New York, a subsidiary of Sterling Bancorp (NYSE: STL), today announced the election of Albert Sarnoff as a new member of its board of directors.
 Mr. Sarnoff was formerly senior vice president and treasurer of Warner Communications, Inc., and maintains a continuing affiliation with its successor, Time Warner Inc. His experience also includes service as a director of Garden State National Bank.
 Mr. Cappelli said that he was pleased to have such a distinguished director with an extensive financial background join the board. Mr. Sarnoff's election brings the number of directors to eleven members.
 Mr. Sarnoff is a native New Yorker and a graduate of Yale University. He is married to the former Nancy Hanak and has three children.
 Selected Data/Ratios -- June 30, 1992
 Sterling National Bank has a Fortress Balance Sheet and is among the safest, soundest and strongest banks in the country. It achieved a composite rating of "A" (based on an evaluation of asset quality, capital, earnings and liquidity) by Sheshunoff Information Services Inc., a leading bank analyst, in its report dated June 30, 1992).
 -- Primary Capital (Shareholders' Equity and Loan Loss Reserve): $65.8 million.
 -- Total Risk Based Capital Ratio: 27.02 percent more than three times current regulatory minimum requirement of 7.25 percent.
 -- Tier 1 Capital: 25.52 percent of total risk-weighted assets: current regulatory minimum is 3.63 percent.
 -- Shareholders' Equity to Total Assets: 13.70 percent
 -- Return on Average Assets: 1.05 percent.
 -- Liquid Assets (cash, deposits with banks, U.S. Treasuries and Federal Funds sold); 32.20 percent of total deposits.
 -- Non-performing loans are 1.00 percent of total assets.
 -- No loans to developing countries (LDCs).
 -- No highly leveraged transactions (HLTs).
 -- No brokered deposits.
 -0- 9/24/92
 /CONTACT: Louis J. Cappelli, chairman or John C. Millman, president of Sterling National Bank, 212-826-8000/
 (STL) CO: Sterling National Bank & Trust Company of New York ST: New York IN: FIN SU: PER


SH-KW -- NY071 -- 3307 09/24/92 17:03 EDT
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Date:Sep 24, 1992
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