The sudden and hushed replacement of senior executives at Sun Bancorp continued with the appointment last month of a new president and chief executive, reuniting a team of New Jersey bankers in the process.

The Vineland, N.J., company announced Feb. 22 that veteran Corestates and First Union executive Thomas A. Bracken had been named president and chief executive, but did not mention what had become of his predecessor, Philip W. Koebig 3d. The news release said only that Mr. Bracken "replaces" Mr. Koebig.

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