Sterling Bancorp to remain in insurance program

Sterling Bancorp, ancestor of Sterling National Bank, said Friday it will abide to participate in the Federal Drop Allowance Corp.'s affairs to accommodate 100 percent allowance advantage to noninterest-bearing accounts.

The FDIC broadcast drop allowance advantage to noninterest-bearing accounts endure month. Banks were automatically enrolled in the affairs at no amount during an anterior period. At the end of that period, banks will charge to pay added fees to the FDIC to abide in the program, which runs through Dec. 31, 2009.

Sterling Bancorp has autonomous to pay the fees and abide in the program.

The FDIC affairs is allotment of a broader affairs to advice accommodate adherence to the banking casework area amidst the advancing acclaim crisis.