NEW YORK - Sterling Bancorp reported $1.26 million in net income for the first quarter, a 38% increase from the prior-year period. This marks the 10th consecutive quarter-to-quarter increase in net income for the company.

The improvement is due to higher margins and noninterest revenues, coupled with increased earning assets, which rose by 11%, or $59 million, from 1994. For the first quarter, the net interest margin reached 5.35%, compared with 4.62% a year earlier.

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