Sun Bancorp Buys N.J. Mortgage Firm

Sun Bancorp in Vineland, N.J. said Tuesday that it has acquired Eastern Financial Inc. of Northfield, N.J., for undisclosed terms.

Eastern is a full-service mortgage company operating in Atlantic and Cape May counties and parts of Ocean and Cumberland counties in southern New Jersey. It is to become a part of Sun Mortgage Co., a unit of Sun National Bank.

Sun Bancorp's president and chief executive officer, Philip W. Koebig 3d, said casinos have fueled strong growth in the area's real estate market.

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