Sun National Bank Announces Proposed Enhancements to Executive Management Team
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"As we embark on the execution of our restructuring plan, we have bolstered our executive management ranks in order to efficiently deliver on multiple strategic initiatives," stated
The Bank is announcing today that it has agreed to hire
The Bank is also announcing that it has agreed to hire
The Bank has also engaged the services of
"These new leaders will be joining their colleagues on the Bank's management team in its unified commitment to bring the financial performance and regulatory excellence that is at the heart of our strategic plan," stated
The Bank has also announced that
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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, including statements about embarking on the execution of our restructuring plan, bolstering our executive management ranks in order to efficiently deliver on our multiple strategic initiatives, growing and building a best-in-class Bank, achieving the financial performance and regulatory excellence that is at the heart of our strategic plan and meeting our goals. We caution that such statements are subject to a number of uncertainties. Actual results and trends could differ materially from those set forth in such statements and there can be no assurances that we will execute on our restructuring plan as anticipated, efficiently deliver on the multiple proposed strategic initiatives or grow and build a best-in-class Bank, achieve the financial performance and regulatory excellence that is at the heart of our strategic plan or meet our goals. Factors that could cause actual results to differ from those expressed or implied by such forward-looking statements include, but are not limited to: (i) competition among providers of financial services; (ii) changes in laws and regulations, including without limitation changes in capital requirements under the federal prompt corrective action regulations; (iii) changes in business strategy or an inability to execute strategy due to the occurrence of unanticipated events; (iv) the failure to complete any or all of the transactions contemplated in the Company's comprehensive strategic restructuring plan on the terms currently contemplated; (v) local, regional and national economic conditions and events and the impact they may have on the Company, the Bank and its customers; (vi) the ability to attract deposits and other sources of liquidity; (vii) changes in the financial performance and/or condition of Bank's borrowers; (viii) changes in the level of non-performing and classified assets and charge-offs; (ix) changes in estimates of future loan loss reserve requirements based upon the periodic review thereof under relevant regulatory and accounting requirements; (x) inflation, interest rate, securities market and monetary fluctuations; (xi) changes in consumer spending, borrowing and saving habits; (xii) the ability to increase market share and control expenses; (xiii) volatility in the credit and equity markets and its effect on the general economy; and (xiv) the effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the
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