NJ.com published the following article on 7/8/2014. To read the full article, click here.
Mercer County branches, naming rights of Sun National Bank Center not to be impacted by bank restructuring
James McEvoy | July 8, 2014The local impacts of restructuring announced by Sun Bancorp Inc. last week are expected to be minimal in Mercer County.Bank spokesman Mike Dinneen said four local branches, located in Hamilton, Pennington, Trenton and West Windsor, will not be closed or sold as part of the bank’s restructuring.
However, it remains unclear whether the 242 announced layoffs will be felt locally, as Dinneen said the bank is not disclosing location-by-location job cuts.
Dinneen said layoffs are expected to take place between now and the first quarter of 2015, and that at least some of those who will be laid off will have the opportunity to apply for positions with Sturdy Savings Bank, which is buying seven Sun branches in Atlantic and Cape May counties. The other reductions are coming from job eliminations and branch consolidations.
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