Sterling National Bank Establishes a Dedicated Healthcare Finance Team and Appoints a New Head of Asset-Based Lending

NEW YORK, NY--(Marketwired - October 05, 2015) - Sterling National Bank, the principal subsidiary of Sterling Bancorp (NYSE: STL), announced today that it has established a commercial banking team dedicated to providing senior-secured financing to middle market healthcare companies on a national scale. The new team, formed with the hiring of Dan Chapa as Senior Managing Director, Steven Goldsmith as Managing Director, and Carl Schmitt as Senior Portfolio Manager, brings extensive experience in healthcare and a keen understanding of serving the needs of healthcare clients in a banking environment.

The team will target healthcare companies with financing needs to fund working capital, growth initiatives, acquisitions and recapitalizations. Mr. Chapa will also apply his expertise in secured lending to lead Sterling's asset-based lending group.

"We're thrilled to welcome a team of senior-level banking professionals who are all highly experienced in servicing the financing needs of the healthcare industry," said Thomas Geisel, Sterling's President of Specialty Finance. "Sterling already has a strong portfolio of healthcare clients, and the addition of this team expands our expertise and brings our industry presence to a national level. Moreover, Dan's diverse background in both healthcare finance and asset-based lending makes him the ideal choice to lead both groups."

Dan Chapa has more than 30 years of financing experience, with a strong focus on middle-market healthcare and asset-based lending. Prior to joining Sterling, he was at Healthcare Finance Group, LLC from 2006-2015, most recently serving as CEO. The company originated financings in excess of $2 billion under his leadership. Previously, Mr. Chapa was an executive of Bank of America Business Credit, rising to the position of President. Earlier in his career, he held positions at NationsBank and the Federal Deposit Insurance Corporation.

Steven Goldsmith was previously with Healthcare Finance Group since 2006, where he was responsible for originating new business opportunities directly with healthcare companies and through private equity sponsors in the Mid-Atlantic, Midwest, and Northeast regions. His career in healthcare finance has included positions with CIT Healthcare and DVI Business Credit.

Carl Schmitt has been an executive of Healthcare Finance Group since 2010, most recently serving as Head of Business Development and Underwriting. Previously, he held credit analyst and underwriting positions with such firms as GE Capital, CIT Group and HSBC Bank.

"I am pleased, as are my colleagues, to be joining the Sterling team, which has a long-standing reputation in the marketplace for structuring and executing creative financing solutions across all industries," said Chapa. "We look forward to expanding Sterling's presence in the healthcare and asset-based lending markets."

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 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.