LOUIS CAPPELLI Obituary

CAPPELLI--Louis J., the office boy to the Chairman & CEO of Sterling Bancorp has died at 93. Louis J. Cappelli passed on February 20, 2024. He was born in the Bronx, NY the youngest son of immigrants who arrived at Ellis Island in 1905 from Bari, Italy. He resided for 64 years in Bronxville, New York. His wife, Virginia M. Delger, preceded him after 61 years of marriage. Together they had five children: Louis, Craig (Linda Schmidt), Cheryl (Kevin O'Malley) Michael (Alicia Tufo) and Stephen (Amy) and 10 grandchildren Alex (Ali), Isabella, Sophia (fiance Michael Spera), Jack, Amanda, Gabriella, Danielle, Savannah, Skyler, Luca, and great-granddaughter Scarlett Jennifer. He was the patriarch of a loving and devoted immediate family and extended family. He served proudly in the US Army in 1951-1953 during the Korean conflict, graduated from CCNY/ Baruch college in 1958 with a BBA in Accounting and was conferred and honored to receive a Doctor of Humane Letters in 2012. He started his career in 1949 as an office boy in the mailroom at Standard Factors Corporation at $28 a week, working his way up and mentoring many along his journey to the top. Sterling Bancorp, the successor to Standard Factors, named him the Chairman and CEO in 1992 and he led the company with an indomitable spirit until 2013, concluding a 64 year run of consecutive service. He was noted for his kindness and generosity and served on many boards of charitable organizations as a director. The Louis J. & Virginia M. Cappelli charitable foundation for over a decade has made a positive impact on humanitarian causes around the globe. He was honored with numerous awards from Catholic, Jewish and a multitude of charitable organizations. He became a Knight of Malta Equestrian order of the Holy Sepulcher in 1995. He was proud to say what a great country the United States of America is, and the only nation where the son of an immigrant father, who could not read or write, could become the Chairman and Chief Executive Officer of a New York Bank traded on the New York Stock Exchange. In lieu of flowers, donations may be made to New York - Presbyterian Westchester (formerly Lawrence Hospital Center), in memory of Louis J. Cappelli. Donations may be made online at http://www.nyp.org/ westchester/giving or NYP Westchester-Development office 55 Palmer Ave., Bronxville, NY 10708 Designation: New labor and delivery Unit.

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Published by New York Times on Feb. 23, 2024.

Memories and Condolences
for LOUIS CAPPELLI

6 Entries

Fernando Ferrer

July 2, 2024

I am sad to learn of Lou Cappelli's passing. Lou was an accomplished Son of the Bronx and Baruch College Alum, which we had in common. Later, as I was completing my last term as Borough President of the Bronx, Lou invited me to join the Sterling National Bank board of directors. For the better part of twenty years, Lou was an important mentor to me in that chapter of my life as his guidance, example and flawless judgment added so much to those dimensions of my life. Rest well, my friend! You did the Bronx and all who knew and loved you proud!

Cindy Merrell

March 2, 2024

My condolences to all the family. I never met him but know he raised a wonderful, generous, fun and very intelligent daughter, Cheryl, who adored her father. He can definitely with pride add that to all his accomplishments .

Frank DeFranco

February 25, 2024

I met Mr. Cappelli in the early 1990's at a banking convention. A few years later I was fortunate to join the Sterling family. Throughout my many years at SNB, I was told that I had a unique and personal bond with him. He came off as a "tough ... old school guy" but one who never forgot his roots ... where he came from. As so many know, he came from meager beginnings, started working at Standard Factors after high school at 17 years old, served his country in the Army during the Korean conflict, and subsequently graduated from CCNY. Amazingly, he remained at Sterling for 61 years and rose from his days in the mailroom to become Chairman of the Board and CEO.

He was a man of many dimensions who knew his people well and asked nothing more of them than he would ask of himself. The personnel turnover of Sterling was quite low compared to other banks, as the managers emulated the Cappelli work ethic. He celebrated with the staff in good times and joined with them in their times of sorrow. I remember well, when he and Howard Applebaum, EVP drove to Stated Island on a cold wintery Saturday morning to attend my beloved wife, Anne's funeral mass. He was asked to sit up from but politely said he would sit in the back of the church so as to not to make "a fuss" and called me at home during my mourning period. He again called me weekly at home during my serious cardiac surgery which kept me out of the office for an extended period. He would begin his conversation by saying, "I am calling you to see how you are feeling and NOT about the business." I preferred to to discuss "the business" but he would not have it. He was so proud upon my son Michael's graduation from Yale and Columbia Law, and remarked that all Michaels were smart (he has a son named Michael).

This was the life journey of Louis J. Cappelli, as I saw, lived and witnessed it. I know he must be so happy to be again with his beloved wife, Virginia. My deepest condolences and heartfelt prayers go to the entire Cappelli family. His legacy will remain proud and strong ... a job well done, dear friend.

Howard Applebaum

February 25, 2024

Lou was my mentor at Sterling for over 24 years . His leadership and training led to my executive role within the company for so many years and of so many staffers that all helped to lead towards our successful sale of the Bank. Lou , you will be missed by many . I am so glad that you are now at peace and with your love Virginia. Watch over your family and continue to be proud of their accomplishments. Until we meet again . Howard Applebaum

Frank & Regina DeFranco

February 24, 2024

Prayers and heartfelt condolences to the Cappelli family .... they don´t make them like him anymore.

Frank & Regina DeFranco

February 24, 2024

I met and worked with Mr. Cappelli in early 2000 through 2014. I was told and it was true we had a special fondness and bond for each other. I truly believe that. He was a demanding but kind man seemingly but always remembering where he came from (his roots). I often wondered, how often do you hear of a young person starting literally in the mailroom and rising to the level of Chairman & CEO of a major national financial institution, and working there his entire life? He came to my beloved wife´s funeral mass on Staten Island one wintery February weekend. When he was asked to sit up front he preferred not to make a fuss and sit in the back. How often he called me at home when I was bedridden for an extended period because of major heart surgery. He called me just to see how I was doing. I know for a fact he did this for others. How proud he was when he heard my son graduated from Yale then Columbia Law. He smiled when he learned his name was Michael ... hike his son. He certainly was a mentor to me and to many others.and to the countless lives he touched. My prayers and heartfelt condolences to the Cappelli family and to those who loved, admired and respected him. Rest in peace, dear friend.

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