Sterling Buys NC-Based Broker

Sterling National Mortgage Co. Inc., Great Neck, N.Y., has acquired the assets and business of Capital Mortgage Funding Inc., a mortgage broker based in Charlotte, N.C., for an undisclosed amount.Sterling's ultimate parent, Sterling Bancorp, said Capital Mortgage specializes in originating nonconforming residential mortgages on a referral basis and closed more than $60 million in loans over the past 12 months. "The move into the Charlotte area expands our geographic presence beyond the Northeast and mid-Atlantic markets we now serve, and enhances cross-selling opportunities of other financial products," said Louis J. Cappelli, chairman and chief executive officer of Sterling Bancorp. Sterling National Mortgage is a subsidiary of Sterling National Bank, the principal subsidiary of Sterling Bancorp. The parent company can be found online at http://www.sterlingbancorp.com.