MOUNT LAUREL, N.J., Oct. 8, 2014 /PRNewswire/ -- Sun Bancorp, Inc. (NASDAQ: SNBC) (the "Company") and its primary subsidiary, Sun National Bank (the "Bank"), announced the addition of two seasoned Commercial Real Estate (CRE) lending veterans to its commercial banking leadership team.
Paul H. Ciancimino, with more than 40 years of commercial lending experience, will serve as a Senior Vice President, responsible for all CRE lending in New Jersey and Pennsylvania and will be based in the Bank's Edison office. Most recently, Ciancimino served as CRE Team Leader at Valley National Bank, leading a group of New Jersey-based lending officers and administrative staff. He previously led commercial lending teams at State Bank of Long Island, New York Commercial Bank, Atlantic Bank of New York. Ciancimino also served as a Senior Vice President and Asset Manager for Value Property Trust in New Jersey. He is a graduate of Franklin & Marshall College in Lancaster, Pennsylvania.
Carlo Alibrandi, with more than 25 years of commercial lending experience, will serve as a Senior Vice President responsible for all CRE lending in New York, and will be based in the Bank's Manhattan office. Most recently, Alibrandi served as Team Leader at Valley National Bank, responsible for a team of New York City and Long Island CRE lenders. Alibrandi previously held commercial lending leadership roles at State Bank of Long Island, New York Commercial Bank, Atlantic Bank of New York and Chemical Bank. Alibrandi holds both an undergraduate degree and an MBA from St. John's University in New York.
Jessica Veliz will be joining the CRE team as Portfolio Manager, supporting the New Jersey and Pennsylvania lending groups. During her three years at Valley National Bank, Veliz held progressively greater responsibilities within commercial real estate lending, including multi-tenant, mixed use, and residential development credit relationships, most recently serving as Assistant Vice President and commercial mortgage loan officer at that institution prior to joining Sun.
"We have expressed our goal of developing a highly-focused, high-performing commercial banking platform," said President & CEO Thomas M. O'Brien. "As such, we are pleased to welcome these industry veterans to our Commercial Banking leadership team. Paul and Carlo will work closely with the Bank's current commercial real estate clients, and will also develop new business opportunities throughout New Jersey, New York and Pennsylvania."
About Sun Bancorp
Sun Bancorp, Inc. (NASDAQ: SNBC) is a $2.9 billion asset bank holding company headquartered in Mount Laurel, New Jersey. Its primary subsidiary is Sun National Bank, a full service commercial bank serving customers throughout New Jersey. 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 within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may include, but are not limited to, statements about the Company's plans, focus, operating performance, objectives, expectations and intentions. 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.
SOURCE Sun Bancorp, Inc.
