Palermo Joins Summit Bank

PRINCETON, N.J. — Summit Bank in Connecticut, a subsidiary of Summit Bancorp, has named Robert J. Palermo vice president and relationship manager – Commercial Real Estate, based in New Canaan. A Newtown resident, Mr Palermo is responsible for originating commercial real estate transactions for investors and developers throughout Connecticut.

“Bob Palermo brings a wealth of experience in mortgage loan production and portfolio, asset, and property management to Summit,” said Heidi Dewyngaert, senior vice president, Commercial Real Estate. “As Summit continues to grow its commercial real estate business in Connecticut, Bob’s background and knowledge of the market will be invaluable.”

Before joining Summit, Mr Palermo was a vice president at People’s Bank in its Commercial Real Estate Finance Department. He holds a BS in business administration from Bryant College, Smithfield, R.I. Mr Palermo lives in Newtown, with his wife and three children.

With 24 branches in Fairfield, Litchfield, and New Haven counties, Summit Bank in Connecticut is a subsidiary of Summit Bancorp, a financial services organization headquartered in Princeton, N.J., with $39 billion in assets.

Through its 500 branches, 600 ATMs, and electronic commerce offerings such as online banking, Summit provides financial services to an extensive retail, corporate, and private banking customer base in New Jersey, eastern Pennsylvania, and Connecticut. For additional information about Summit, visit its Web site at www.summitbank.com.