Sun Bancorp, Inc. Announces Departure Of President And CEO

          Sun Bancorp, Inc. Announces Departure Of President And CEO

PR Newswire

VINELAND, N.J., Nov. 25, 2013

VINELAND, N.J., Nov. 25, 2013 /PRNewswire/ -- Sun Bancorp, Inc. (NASDAQ: SNBC)
(the "Company") announced today that Thomas X. Geisel, President and Chief
Executive Officer of the Company and its wholly owned subsidiary, Sun National
Bank (the "Bank"), will terminate employment effective December 2, 2013. Mr.
Geisel will also resign as a member of the Board of Directors of the Company
and the Bank on that date.

The Company has retained the international firm of Spencer Stuart to assist in
the selection of a new President and Chief Executive Officer. During the
pendency of that search and subject to regulatory approval, Sidney R. Brown,
Chairman of the Board of the Company, will serve as Interim President and
Chief Executive Officer.

"Tom has been a valuable member of the team over the last few years, helping
us address the regulatory and other challenges facing the Bank," said Brown.
"While much progress has been achieved", Brown stated, "work still remains and
the Board believes it is an appropriate time to seek new leadership to
complete those tasks and begin to lay the foundation for a new era of
operational stability, growth and profitability for our shareholders."

Wilbur L. Ross, a leading member of the Company's Board of Directors also
commented, "Having new leadership will allow us to focus and execute on the
core objectives of regulatory excellence, growth and sustained shareholder
returns. I want to thank Tom for his hard work and dedication and wish him
well in his future endeavors."

Sun Bancorp, Inc. (NASDAQ: SNBC) is a $3.24 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 50-plus locations in New
Jersey. Sun National Bank has been named one of Forbes Magazine's "Most
Trustworthy Companies" for five years running. 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
The foregoing material contains forward-looking statements as defined in the
Private Securities Litigation Reform Act of 1995, concerning the financial
condition, results of operations and business of the Company. Forward-looking
statements are statements that include projections, predictions, expectations
or beliefs about events or results or otherwise are not statements of
historical facts. We caution that such statements are subject to a number of
uncertainties. 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.

SOURCE Sun Bancorp, Inc.

Website: http://www.sunnationalbank.com
Contact: Mike Dinneen, Director of Marketing, (856) 552-5013,
mdinneen@sunnb.com
 
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