Regulators weigh in on Sterling Banks' operations

Mt. Laurel, N.J.-based Sterling Banks Inc. has entered into an agreement with state and federal regulators where it must assess its senior management’s qualifications and its oversight of the bank’s loan portfolio and capital position.

Sterling, the holding company for Sterling Bank, said in a release Monday that it had entered into an agreement with the Federal Reserve Bank of Philadelphia and the New Jersey Department of Banking and Insurance based on findings in an examination of the bank that began in January.