Sun Bank Slims Down with Branch Closures and Mergers
Sun National Bank augments consolidation and cost-cutting moves that began last summer with the sale of one branch and mergers of nine others in seven New Jersey counties, to take place before the end of 2015.
The moves follow the sale of seven branches in Cape May County to Sturdy Bank, announced in early March, and continue a reconfiguration process that began in July 2014.
Information posted at the Sun Bancorp, Inc. web site outlines plans to function with 31 branches by year's end, down from 50 at the start of 2014. The company is ceasing business in Salem and Cape May Counties altogether.
Planned relocations include:
Ocean County - Toms River branch closes and business is transferred to the Lanoka Harbor office. Sun maintains three branches and 26 ATMs.
Monmouth County - Howell branch business moves to the Freehold branch on Route 9 while the Holmdel branch merges into the Matawan site. Sun continues through six branch offices, 24 ATMs and a drive-through site.
Atlantic County - Atlantic City branch absorbs the Brigantine office and the Hammonton branch converts to Cape Bank. Sun maintains six branches and 19 ATMs.
Cumberland County - Bridgeton branch merges into the Millville office. Sun holds onto three branches and 11 ATMs.
Gloucester County - Glassboro operations merge into the Turnersville branch. Sun continues in two offices with 16 ATMs.
Mercer County - Trenton and West Windsor branches are to be absorbed into the Hamilton office. Sun will operate two offices and 16 ATMs.
Salem County - Carney's Point branch is absorbed into the Logan Township site. Sun will operate three ATMs.