Sun Bancorp Inc. in Vineland, N.J., which has said it planned to trim expenses to improve profitability, said Friday that it is selling three of its branches to three separate buyers.
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The $3.3 billion-asset company did not identify the buyers or say which branches it is selling, because the deals have not been finalized. However, the $391 million-asset 1st Constitution Bancorp in Cranbury, N.J., said in a news release Friday that it had agreed to buy a Sun branch in Hightstown, N.J., and that the deal would close next quarter.
