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Sun National Bank Names General Counsel

Scuttlebutt | September 18, 2014

Sun Bancorp, a $2.9 billion asset bank holding company, and its primary subsidiary, Sun National Bank, have appointed Patricia Schaubeck as general counsel.

Schaubeck's appointment comes at a time when Sun National Bank is operating under a formal agreement entered into with the Office of the Comptroller of the Currency (OCC) in 2010, due to internal weaknesses in its credit risk and loan review processes. "With a key objective of terminating the bank's formal agreement with [OCC], Sun will benefit significantly from her strong track record of advising management, boards of directors and other stakeholders on key regulatory and strategic business matters," Thomas O'Brien, chief executive officer for Sun Bancorp, said in a statement.

In her role, Schaubeck will advise the bank's management and board of directors on legal, strategic, regulatory and governance issues. Schaubeck has an extensive background advising financial institutions on complex legal and regulatory matters.  Most recently, she served as general counsel and corporate secretary of Suffolk Bancorp, and its subsidiary Suffolk County National Bank.  Prior to her tenure at Suffolk, Schaubeck served as general counsel of State Bancorp, and its subsidiary State Bank of Long Island.  

She began her career as an examiner for the OCC.