MOUNT LAUREL, N.J., Sept. 1, 2015 /PRNewswire/ -- Sun Bancorp, Inc. (NASDAQ: SNBC) (the Company"), the holding company for Sun National Bank (the "Bank"), announced today that its Sun Financial Services division has changed its name to Prosperis Financial Solutions, LLC. This division, which offers financial planning and related non-bank investment and insurance products, is repositioning its brand as it continues to expand both its product offering and marketplace. The Prosperis Financial Solutions, LLC ("Prosperis") legal and brand name change is the first step in a comprehensive Bank rebranding initiative that will continue throughout 2015.
"The Prosperis team has a long track record of serving the Bank's clients," said Thomas M. O'Brien, President & CEO. "We see broader opportunities for our investment and insurance services team to expand its product offering, build a stronger focus on commercial banking clients, and increase market development efforts in Central and Northern New Jersey as well as the New York metro region. As such, we are repositioning this group with its own identity while operating within the Bank's legal and brand family. Other than a name change, this team will continue to function as a subsidiary of the Bank and will continue to provide outstanding service to families and businesses with enhanced market awareness."
Prosperis is a unique name for the Bank's non-bank investment and insurance services division, derived from the Latin word for prosperity. Prosperis offers planning and advisory services related to retirement, college savings, business benefits and succession, as well as insurance services to businesses and families across New Jersey, New York and Pennsylvania.
"Throughout the remainder of 2015, we are enhancing our organization's brand experience and presence to reflect the overall turnaround of the Company and Bank," said O'Brien. "The launch of Prosperis is the first in a series of initiatives that will begin to articulate the new Sun National Bank story to the marketplace. With a strong platform and an elevated brand in place, we are poised to grow by strengthening our relationships with long-term customers as well as attracting new relationships, demonstrating that it truly is a new day at Sun."
About Prosperis Financial Solutions, LLC
Prosperis Financial Solutions, LLC, formerly known as Sun Financial Services, LLC, is a wholly-owned subsidiary of Sun National Bank. INVEST Financial Corporation (INVEST), member FINRA, SIPC, a registered broker dealer and registered investment advisor, is not affiliated with Prosperis Financial Solutions, LLC, or Sun National Bank. Securities, advisory services and insurance products are offered through INVEST, and affiliated agencies are not insured by the FDIC or any other government agency; are not deposits or other obligations; are not guaranteed by any bank; and are subject to investment risks, including possible loss of the principal invested. Learn more about Prosperis Financial Solutions, LLC at www.prosperisfinancial.com.
About Sun Bancorp, Inc.
Sun Bancorp, Inc. (NASDAQ: SNBC) is a $2.38 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. 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, 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.
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SOURCE Sun Bancorp, Inc.
