New Jersey

EAST HANOVER, N.J. — Symbionce Financial Solutions LLC, a credit union service organization that offers mortgage services to CUs, on Thursday was ranked number 945 on Inc.magazine's eighth annual Inc. 500|5000.

Sun Bancorp in Mount Laurel, N.J., plans to raise approximately $20 million to fund its recent restructuring.

NEW YORK. — Education Affiliates FCU's members have voted to approve the proposed merger with McGraw-Hill FCU in East Windsor, N.J.

Ocean Shore Holding in New Jersey has completed a buyback of 200,000 shares of its common stock and has authorized an additional repurchase program.

Sun Bancorp in Mount Laurel, N.J., reported a second-quarter loss due to one-time charges related to its ongoing restructuring efforts.

Valley National Bancorp in Wayne, N.J., reported that second-quarter earnings declined because of a significant drop in noninterest income.

Sun Bancorp in Mount Laurel, N.J., has agreed to hire four new executives, promoted another executive, and hired a technology consulting firm.

Investors Bancorp in Short Hills, N.J., reported a steep drop in second-quarter profits from last year, as operating expenses far outpaced returns from loans and other business lines.

Quarterly profits plunged at Hudson City Bancorp in Paramus, N.J., last quarter as it awaits regulatory approval to be sold to M&T Bank.

BLOOMFIELD, N.J. — It's great to be named one of the best places to work in New Jersey for the last four years, but what XCEL FCU likes even better is the business that satisfied employees drive.

Investors Bancorp (ISBC) in Short Hills, N.J., has broken ground on the first of four new branches it plans to open on Staten Island in New York City.

Sun Bancorp (SNBC) in Mount Laurel, N.J., has provided more details on its sweeping restructuring initiative.

Sun Bancorp (SNBC) in Mount Laurel, N.J., will eliminate nearly 40% of its work force as part of a major cost-cutting effort.

PRINCETON, N.J. — New car sales in the U.S. will finally return to pre-recession levels this year. But with that comeback — and corresponding hike in consumer and lender confidence — problems lurk on the horizon.

Frank Sorrentino will attempt to integrate the systems at Center Bancorp a mere three weeks after the company merged with ConnectOne. The key is tremendous up-front planning — and having a crisis team at the ready, he says.

Spencer Savings Bank in Elmwood Park, N.J., has agreed to buy the banking operations of New Jersey Manufacturers Insurance.

Peapack-Gladstone Financial (PGC) in Bedminster, N.J., has named Kevin Runyon as executive vice president of information technology.

Sun Bancorp (SNBC) in Mount Laurel, N.J., has hired three industry veterans to expand its commercial lending in New Jersey.

Second Curve Capital in New York cashed out of two bank holdings in the first quarter.

WASHINGTON — XCEL Federal Credit Union, Bloomfield, N.J., and Michigan State University FCU, East Lansing, Mich., took top honors as the National Association of Federal Credit Unions named the winners of its 2014 Annual Awards.