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| April 19, 2007 |
The Scene: Sun American Bank officially opens in Delray
Cathy DeMatto, a business and management consultant in Delray Beach, and Sally Areson, a Realtor with Mega Real Real Estate. By Palm Beach Business.com Staff DELRAY BEACH — Rapidly expanding Sun American Bank officially opened its first Delray Beach office Wednesday evening with a ribbon-cutting ceremony. Sun American is expected to open a second office in the city later this year. The Boca Raton-based bank, formerly named Pan American, now has 14 branches stretching from Coral Gables to Tequesta. It plans to expand its territory even further north by opening an office in Stuart. It also plans to open a West Boca branch at Glades Road and State Road 441 within the next month. In January, Sun American completed a deal for the two-office Beach Bank in Miami Beach, and more recently bought the single-office Independent Community Bank in Tequesta for $41 million in cash and stock. It also moved its shares from the American Stock Exchange to the Nasdaq Global Market. Sun American shares closed unchanged Wednesday at $4.96.  Anne and Leo Sherman, both of Delray Beach.  Ken J. Osterberger, Carole Jett and Pat Marken, all with Sun American Bank.  Jesus Remon of Customers Rule Insurance Agency in Miami; Marianne L. Winfield of Brickell Bay Realty Group; Stephen L. Perrone, vice chairman and director, Sun American Bank. |
Sun American Bank CEO Michael Golden cuts the ribbon, officially opening the bank's Delray Beach office. Pictured, from the left: Ron Golden, Delray Deputy Vice Mayor Brenda Montague; Vice Chairman Stephen L. Perrone; branch manager Nancy Deatley; Chief Financial Officer Robert Nichols; Michael Golden; and Executive Vice President William Ross.