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Posted July 10, 2017
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Christina M. Favilla Joins Sterling Bancorp as Chief Operating Officer

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MONTEBELLO, N.Y., July 10, 2017 (GLOBE NEWSWIRE) -- Sterling Bancorp (NYSE:STL), of which the principal subsidiary is Sterling National Bank, today announced that it has named Christina M. Favilla Chief Operating Officer, reporting to Jack Kopnisky, President and CEO.

Favilla will be responsible for evolving the company's operating infrastructure as Sterling grows to an anticipated $30B greater NY Metro regional bank following the completion of its pending merger with Astoria Financial. Her scope of responsibilities at Sterling will include bank operations, loan operations, information technology, digital channels, product management, marketing, corporate communications, data management and governance, and facilities. She joins a leadership team that will be comprised of both Sterling and Astoria veterans, as well as newly appointed talent from other financial services organizations.

"Chris is a dynamic, sophisticated, and experienced leader who understands the critical importance of people and process against the backdrop of a rapidly-changing but highly regulated industry," said Jack Kopnisky, Sterling Bancorp President and CEO. "I am confident in her ability to drive industry-leading operational practices to further develop our already successful, high-performing company."

Kopnisky continued, "Chris's experience as COO of GE Capital Americas is highly complementary to the task of transforming Sterling from a bank with approximately $15B in total assets to an anticipated $30B combined entity that will be the sixth largest regional bank in the New York City area in terms of deposits. In addition, her proven track record of achieving enhanced productivity and P&L optimization, as well as her expertise in funding and deposit strategies, are attractive skill sets for our organization. I know I speak on behalf of the entire leadership team when I say we look forward to working with her and to the impact she will have on shaping the future performance of our company."

Favilla comes to Sterling from GE Capital Americas, where she served as Chief Operating Officer, leading a diverse team of 2,500 people across 33 locations in Canada, Mexico, and the United States. Prior to GE Capital, she served as President of Discover Bank and Bank of New Castle, a part of Discover Financial Services, where she developed the funding strategy that was an integral component of the successful launch of Discover Financial Services as an independent public company.

Favilla holds a Master's degree in Business Administration from Fordham University and a Bachelor's degree in International Studies from Marymount College.

About Sterling National Bank

Sterling Bancorp, of which the principal subsidiary is Sterling National Bank, specializes in the delivery of financial services and solutions for small to mid-size businesses and consumers within the communities we serve through a distinctive team-based delivery approach utilizing highly experienced, fully dedicated relationship managers. Sterling National Bank offers a complete line of commercial, business, and consumer banking products and services. For more information, visit www.snb.com .

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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