Sun National Bank Appoints New President of Sun Home Loans, Inc.

VINELAND, N.J., March 8 /PRNewswire-FirstCall/ -- Sun National Bank today announced that Cherry Hill, New Jersey-resident Steven J. Greenberg was appointed president of Sun Home Loans, Inc., the bank's mortgage company.

(Photo:  http://www.newscom.com/cgi-bin/prnh/20100308/PH66577 )

Greenberg joins Sun from TD Bank in Cherry Hill, where he most recently served as managing director of Money Out Sales with responsibility for increasing sales and profitability of the bank's mortgage and certified consumer lending business.  In his role, Greenberg managed the mortgage, consumer and loan by phone sales forces from Maine to Florida.

"We are pleased to have Steve join Sun at a time when the mortgage market proves challenging, but a time that also offers growth opportunities," said Thomas X. Geisel, president and CEO of Sun National Bank.  "His background and experience are a good fit for Sun as we continue to look for new and innovative ways to serve our customers and grow revenue.  I look forward to him taking Sun Home Loans to the next level by leveraging our strong mortgage business fundamentals to fit the needs of today's consumers."

"Sun's continued strength has come from making smart decisions, despite market pressures to compete," said Ed Malandro, executive vice president of Consumer Banking.  "We chose not to participate in sub-prime lending, a decision that has made our mortgage business stronger than ever and positioned Sun to become an industry leader in the now re-emerging mortgage sector.  With a new leader like Steve on our team, we are excited to make the most of the current buyers' market and continue to grow Sun Home Loans as a core line of business for the bank."

Previously, Greenberg served as senior mortgage officer and regional sales manager for TD Bank and Commerce Bank, as well as a top producing loan officer for InterBoro Savings, which was bought by Hudson United Bank in 1998, both also in Cherry Hill.

He holds a bachelor of science from Fairleigh Dickinson University in Teaneck, New Jersey, and is an active member of the local community.  He currently serves on the board of directors of the Katz Jewish Community Center and Southern New Jersey Youth Basketball.  He also serves as chairman of the Tau Kappa Epsilon Fraternity Alumni Association and Sun National Bank Jr. Maccabi Youth Basketball.  Professionally, he is a member of the National Association of Mortgage Brokers and the Mortgage Bankers Association.

Sun Home Loans is a wholly owned subsidiary of Sun National Bank that launched in March 2006.  Since then, the company has grown into a core line of business for the bank.  

Sun Bancorp, Inc. (Nasdaq: SNBC) is a $3.6 billion asset bank holding company headquartered in Vineland, New Jersey.  Its primary subsidiary is Sun National Bank, serving customers through 70 locations in New Jersey.  The Bank is an Equal Housing Lender and its deposits are insured up to the legal maximum by the FDIC.  For more information about Sun National Bank and Sun Bancorp, Inc., visit www.sunnb.com .

SOURCE Sun Bancorp, Inc.