The former chief executive of Crossland Savings Bank - who was asked to stay on after the FDIC took over the failed thrift in 1992, only to be fired by his new FDIC-appointed boss - has dropped a suit against the bank and the agency after receiving payments totaling $689,000.

A lawyer for Frank A. Dellomo, who worked for New York-based Crossland for 42 years and is now 62 years old, said the suit alleged age discrimination and a variety of other complaints stemming from the firing.

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