Executive Changes: Sterling Bancorp Announces Two SVP Appointments

Sterling National Bank, a subsidiary of Sterling Bancorp (NYSE: STL), announced today that Mr. Joseph Costanza and Ms. Patricia Hrotko have been named Senior Vice Presidents of the Asset-Based Lending Division and Marketing Group, respectively. The appointments come as Sterling prepares to increase each area’s activities to take advantage of what the company sees as favorable market conditions.

Mr. Costanza will be responsible for managing the bank’s asset-based lending business, one of Sterling’s core strengths and an area of growth and stability in the marketplace. Ms. Hrotko will lead Sterling’s marketing efforts to continue to enhance its core brand as a leading community bank and full-service small business lender.

“Joseph and Patricia are joining Sterling as we expand our lending and marketing capabilities and take greater advantage of opportunities in the small and mid-sized business markets,” said John Millman, president of Sterling Bancorp. “Our asset-backed lending business has been thriving as the credit crunch has continued to affect more borrowers. Joseph will help us capitalize on the many new opportunities we see and anticipate will continue for the near-term. Patricia will work with all of our businesses to increase our profile among constituents in core markets and regions through a wide range of new marketing initiatives.”

Mr. Costanza will be responsible for managing and increasing the bank’s share in asset-based lending, one of Sterling’s core competencies. He joined Sterling from LaSalle Business Credit, where he was the Northeast/Mid-Atlantic Regional Manager for 10 years. Under his leadership, Mr. Costanza increased assets in his region from $235 million to over $600 million with a shift in portfolio composition from generally purchased participations to lead transactions.

Ms. Hrotko’s hire represents an important component to Sterling’s overall expansion of its marketing and advertising functions. As part of its commitment to enhance brand recognition, Sterling has also retained investor relations expert Ed Nebb to handle its IR functions and Dukas Public Relations (DPR) as its PR agency of record. Ms. Hrotko will be responsible for coordinating Sterling’s advertising campaigns, online presence and direct marketing efforts. She will also work directly with DPR to develop media strategies and thought leadership campaigns for Sterling’s executive team.

Prior to joining Sterling, Ms. Hrotko was the Vice President, Director of Marketing for First Morris Bank & Trust in Morristown, NJ.