SUN BANCORP, INC. (NASDAQ:EWBC) Files An 8-K Other Events
Item 8.01 Other Events
On November 22, 2016, Sun Bancorp, Inc. (the Company) announced
the election of Anthony R. Coscia, an independent director of the
Company and its wholly-owned subsidiary, Sun National Bank (the
Bank), to the role of non-executive Chairman of the Board of
Directors of each of the Company and the Bank, effective December
31, 2016. Mr. Coscia will replace Sidney R. Brown as Chairman of
the Company and the Bank. As previously announced by the Company
on October 28, 2016, Mr. Brown will step down from his position
as Chairman of the Company and the Bank, effective December 31,
2016, but will continue to serve as a member of the Board of the
Company and the Bank. Mr. Coscia will earn the current annual
Chairmans retainer of $125,000 and no additional retainer or per
meeting fees for Board service. A copy of the press release
issued by the Company on November 22, 2016 announcing the
election of Mr. Coscia as Chairman of the Company and the Bank is
filed herewith as Exhibit 99.1 and is incorporated herein by
reference.
Item 9.01 Financial Statements and
Exhibits.
(d)Exhibits
Exhibit 99.1 Press Release issued by the Company on November 22,
2016
About SUN BANCORP, INC. (NASDAQ:EWBC)
East West Bancorp, Inc. (East West) is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank operates through three segments: Retail Banking, Commercial Banking and Other. The Retail Banking segment focuses primarily on retail operations through the Bank’s branch network. The Commercial Banking segment primarily generates commercial and industrial loans (C&I) and commercial real estate (CRE) loans through the domestic commercial lending offices located in California, New York, Texas, Washington, Massachusetts, Nevada and Georgia, and through the foreign commercial lending offices located in China and Hong Kong. Furthermore, the Commercial Banking segment also offers international finance and trade services and products. The remaining centralized functions, including the treasury operations of the Company are included in the Other segment. SUN BANCORP, INC. (NASDAQ:EWBC) Recent Trading Information
SUN BANCORP, INC. (NASDAQ:EWBC) closed its last trading session up +0.73 at 47.27 with 1,055,436 shares trading hands.