A New Jersey lender has agreed to submit a plan to regulators for improving its operations.

Sterling Bank Inc. (STBK), of Mount Laurel, N.J., agreed with the Federal Reserve to deliver the plan within 60 days, the Fed announced Thursday.

The plan will consider actions to improve the bank's condition and maintain effective control over such operations as credit risk management.

-By Jeff Bater, Dow Jones Newswires; 202 862 9249; jeff.bater@dowjones.com