New Jersey

Weakness in the energy sector and a surge in new construction are pushing up vacancy rates at offices and hotels, leading to a spike in delinquencies on loans tied to them. The safer bet, bankers say, is lending on industrial properties.

Valley National Bancorp in Wayne, N.J., has a new president. The $22 billion-asset company said in a press release Thursday that Rudy Schupp had also become chief banking officer at its bank.

The chief operating officer of Valley National Bancorp in Wayne, N.J., will step down next month.

Lakeland Bancorp in Oak Ridge, N.J., has named a new chief financial officer and chief operating officer as two other executives plan to retire.

Get out of the red six months from now. That is Fred Viaud's goal for Glen Rock Savings Bank in New Jersey, which on Tuesday said he would be promoted to president and CEO next week.

Highlands Bancorp in Vernon, N.J., has raised $8.5 million through a sale of common stock.

Sussex Bancorp in Rockaway, N.J., has raised $15 million by selling fixed- to floating-rate subordinated notes to an institutional investor. It did not name the investor.

Peapack-Gladstone Financial in Bedminster, N.J., has filed a shelf registration statement to sell as much as $100 million in securities.

ConnectOne Bancorp in Englewood Cliffs, N.J., is looking to raise at least $35 million through a stock offering.

A New Jersey investor has received approval from the Federal Reserve to significantly boost its stake in MSB Financial in Millington, N.J.

Lakeland Bancorp in Oak Ridge, N.J., has filed the paperwork to sell up to $50 million shares of common stock.

The $22 billion-asset company said in a press release Thursday that it is looking to sell 8.4 million shares of common stock, though it could sell another 840,000 shares if there is enough demand.

Unity Bancorp in Clinton, N.J., has a deal in place to sell $15 million in common stock over time.

The billionaire investor will soon step down from the New Jersey company's board as he prepares to become Commerce secretary. The appointment, however, shouldn't force any changes in his firm's holdings or its investment in the banking sector.

Anthony Labozzetta, CEO of Sussex Bancorp in New Jersey, isn't afraid of change. His unusual approach to banking helped Sussex emerge from the financial crisis with momentum. Now he's building a branch model that could serve as a blueprint for growth-minded banks.

Sun Bancorp in Mount Laurel, N.J., the $2.1 billion-asset parent of Sun National Bank, said independent director Anthony Coscia will serve as chairman of both starting Dec. 31.

Malvern Bancorp in Paoli, Pa., is planning to open a commercial lending office in a new market.

A community bank in New Jersey has raised millions in funding from Silicon Valley's star fintech venture capitalists.

A small New Jersey bank that is a so-called rent-a-charter partner of more than a dozen marketplace lenders has raised millions of dollars from some household names in the venture capital world.

Sun Bancorp’s third-quarter profit declined, as the Mount Laurel, N.J., recorded almost $3 million of one-time gains a year ago. Sun’s expenses, however, continued to improve.