Sun National Bank in Mount Laurel, N.J., has promoted Anthony D'Imperio to chief credit officer and senior vice president, according to a filing with the Securities and Exchange Commission this week.
He had held the jobs on an interim basis since October, and was given the permanent titles on Tuesday, the $2.4 billion-asset bank said in the filing.
D'Imperio, 65, had been Sun's director of special assets from July 2012 until last fall. Previously, he was a vice president and division manager for special assets at Wilmington Trust. He has been an adjunct finance instructor at St. Joseph's University in Philadelphia for more than 20 years.
He gets a $250,000 salary, will receive 3,000 shares of restricted stock that will vest in two years and will be eligible for incentives that could be worth as much as 25% of his salary, the filing said.
The bank is a subsidiary of Sun Bancorp, which recently completed a major restructuring that it says will return it to profitability this year. It last made an annual profit in 2008; it lost roughly $350 million in subsequent years, including nearly $30 million last year. It reported a profit of $2.8 million in the first quarter, following six consecutive losing quarters.
Its restructuring has included layoffs, an exit from residential mortgage lending and branch reductions.