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Kass, Norcross Nominated To Sun Bancorp Board Of Directors

Stocks in this article: SNBC





VINELAND, N.J., April 11, 2012 /PRNewswire/ -- (Nasdaq: SNBC), Sun Bancorp, Inc. has nominated Steven A. Kass, CPA, and Philip A. Norcross, Esq. for election to the Company's Board of Directors.  The Company's Board of Directors intends to appoint Messrs. Kass and Norcross to the Boards of the Company and Sun National Bank, and thereafter submit them to shareholders of the Company for election as directors at the Company's Annual Meeting of Shareholders to be held on May 24, 2012. 

Thomas X. Geisel, President and CEO of Sun Bancorp, said "Steve and Phil are both well-respected business leaders, known and admired for their ability to advance the leadership position of companies and contribute to our state's economic growth.  They both bring intelligence, insight and an impressive track record of success to our organization, at a time when we are poised for strategic growth in key markets throughout the state.  On behalf of Sun's board and management committee, I welcome Steve and Phil and look forward to having them share their perspective and experience as members of our Board of Directors."

Mr. Kass and Mr. Norcross will serve on the boards of both Sun Bancorp, Inc. and Sun National Bank.  Other Company board members are Wilbur L. Ross Jr., members of the Brown family, Tony Coscia, Peter Galetto, Eli Kramer and Bill Marino.  "Sun Bancorp is honored to have the support and leadership of this esteemed group of professionals, as we serve our customers across the state," said Mr. Geisel. 

Mr. Kass is Co-Chief Executive Officer and Co-Managing Principal of Rothstein Kass, a premier professional services firm serving privately held and publicly traded companies and high-net-worth clients.  He has extensive experience as a client advisor, is a member of the firm's Executive Committee and has played an integral role in the growth and national presence of Rothstein Kass.  Committed to professional development, Mr. Kass serves on the advisory board for the Lubin School of Accounting at Syracuse University and completed a two-year term as international chairman of AGN International Ltd., a global association of independent accounting and consulting firms in 80 countries.  He is a member of the American Institute of Certified Public Accountants (AICPA), the New Jersey Society of Certified Public Accountants (NJSCPA) and the New York State Society of Certified Public Accountants (NYSSCPA). A dedicated philanthropist, he was honored with a Distinguished Achievement award by the banking and finance unit of B'nai B'rith International.  Mr. Kass commented, "I am delighted to join the board of Sun Bancorp and look forward to working with their team to strengthen and grow the Company."

Mr. Norcross is Chief Executive Officer and Managing Shareholder of Parker McCay, a regional law firm headquartered in Mount Laurel, New Jersey, with offices in Lawrenceville and Atlantic City, New Jersey.  Mr. Norcross co-chairs the firm's Public Finance and Business Departments and has particular expertise in finance and transactional law, with an emphasis on government, economic development, redevelopment and other specialized financings.  Mr. Norcross also serves as Chairman of Optimus Partners LLC, a business advisory and consulting firm, based in Trenton, New Jersey, that serves a wide array of clients in the financial services, healthcare, gaming, real estate and development, and insurance sectors.  Active in both the community and his profession, Mr. Norcross is Vice-Chairman of the Board of The Cooper Foundation, member of the Board of Trustees of Home Port Alliance of the U.S.S. New Jersey, Inc, a founding member and former vice-president of the Mount Laurel Public Education Foundation and is currently a Board member and past chairman of Burlington County United Way.  He is also a member of the National Association of Bond Lawyers, the American Bar Association and the bar associations of New Jersey, Burlington County and Camden County. "I am pleased to join Sun Bancorp's board and appreciate the opportunity to support an organization that is committed to the vitality and success of New Jersey's businesses and citizens," said Mr. Norcross.

Forward-Looking Statements

The foregoing material contains forward-looking statements concerning the financial condition, results of operations and business of the Company.  We caution that such statements are subject to a number of uncertainties and actual results could differ materially, and, therefore, readers should not place undue reliance 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 forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

About Sun Bancorp

Sun Bancorp, Inc. (Nasdaq: SNBC) is a $3.18 billion asset bank holding company headquartered in Vineland, New Jersey, with its executive offices located in Mt. Laurel, New Jersey.  Its primary subsidiary is Sun National Bank, a full service Commercial Bank serving customers through 65 locations in New Jersey.  Sun National Bank was named one of Forbes Magazine's "Most Trustworthy Companies" for consecutive five years.  The 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.sunnb.com.

 

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