MONTEBELLO, NY--(Marketwired - December 06, 2016) - Sterling National Bank, the principal subsidiary of Sterling Bancorp (NYSE: STL), announced today that Prakash Chonkar has joined the bank's commercial banking team as Managing Director and Vice President in the bank's corporate office in Montebello. He will report to Chris Fiorillo, Senior Manager, Commercial Banking.

Chonkar will focus on managing and developing relationships with target segments that lead to loans, deposits and other revenue generating products and services, and will help drive Sterling's commercial banking team's sales and service efforts. He will also be responsible for maintaining loan quality through the support of underwriting, portfolio administration and cash management functions, and ensuring regulatory compliance.

Chonkar brings to Sterling broad experience in client development, sales generation and team leadership. He was most recently Founder and Managing Partner at P3 Private Investment Partners. Previously, Chonkar held a number of leadership positions at Citigroup, lastly as Managing Director and Head of International Sector & Commercial Banking Products.

"We are excited that Prakash is joining our growing team," said Vinny Delucia, President of New York Regional and New Jersey Markets. "He has years of institutional experience and a proven track record in delivering high quality service and results for clients. We look forward to drawing on his client development expertise and commercial banking to benefit our clients."

Chonkar received his MBA from the University of Michigan, specializing in Finance and Business Strategy. He also received an MS in Industrial Engineering & Operations Research from North Carolina State University and holds a BE in Mechanical Engineering from Bombay University.

About Sterling National Bank
Sterling National Bank, the principal subsidiary of Sterling Bancorp, specializes in the delivery of service and solutions to business owners, their families, and consumers in communities within the greater New York City area through teams of dedicated and experienced relationship managers. Sterling National Bank offers a complete line of commercial, business, and consumer banking products and services. For more information, visit

Forward-Looking Statements
This release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements may concern Sterling's current expectations about its future results, plans, operations and prospects and are subject to numerous assumptions, risks and uncertainties, including inflation; the effects of, and changes in, trade; changes in asset quality and credit risk; introduction, withdrawal, success and timing of business initiatives; capital management activities; customer disintermediation; and the success of Sterling at managing these risks. Other factors that could cause Sterling's actual results to differ from those indicated in forward-looking statements are included in the "Risk Factors" section of Sterling's securities filings with the Securities and Exchange Commission. The forward-looking statements included herein are only made as of the date hereof, and Sterling specifically disclaims any obligation to update these statements in the future.

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Suzanne M. Copeland
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