"We are proud to have Tony Coscia ascend to the Chairmanship of the Company and Bank," said Thomas M. O'Brien, President and Chief Executive Officer. "Tony is well-respected and experienced in matters of corporate governance, finance and economic development. All of our stakeholders are well served by this appointment and we are fortunate that Tony has agreed to undertake this new responsibility."
"I am pleased and honored to assume the Board Chairman's role at the Company and the Bank," stated Mr. Coscia. "We have a very strong and committed Board and Management, and I accept my selection as Chairman with deep gratitude. The story at Sun Bancorp is exciting and holds much promise. I will enjoy working with the Company's leadership and shareholders in this new capacity."
About Sun Bancorp, Inc.
Sun Bancorp, Inc. (NASDAQ: SNBC) is a $2.19 billion asset bank holding company headquartered in Mount Laurel, New Jersey. Its primary subsidiary is Sun National Bank, a community bank serving customers throughout New Jersey and the metro New York region. Sun National Bank is an Equal Housing Lender and its deposits are insured up to the legal maximum by the Federal Deposit Insurance Corporation (FDIC). For more information about Sun National Bank and Sun Bancorp, Inc., visit www.sunnationalbank.com.
Cautionary Note Regarding Forward-Looking Statements
Except for historical information contained herein, the statements made in this press release constitute "forward-looking" statements, as defined in the Private Securities Litigation Reform Act of 1995, which may be identified by the use of such words as "allow," "anticipate," "believe," "continues," "could," "estimate," "expect," "intend," "may," "opportunity," "outlook," "plan," "potential," "predict," "project," "promise," "reflects," "should," "typically," "usually," "view," "will," "would," and similar terms and phrases, including references to assumptions. These forward-looking statements may include, but are not limited to, statements about the Company's plans, objectives, expectations, intentions and other statements contained herein that are not historical facts. Actual results may differ materially from the results discussed in the forward-looking statements because such statements involve certain risks and uncertainties. Additional information on these risks can be found in the Company's filings with the Securities and Exchange Commission. No undue reliance should be placed on any forward-looking statements. The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any such forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.
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SOURCE Sun Bancorp, Inc.