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Seidman stake in Sussex Bancorp falls below 5%


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Seidman stake in Sussex Bancorp falls below 5%

Lawrence Seidman, Veteri Place Corp. and related investment vehicles' stake in Sussex Bancorp decreased to 3.81% as a result of Sussex's acquisition of Community Bank Bergen County New Jersey.

Rockaway, N.J.-based Sussex issued 1,860,000 shares to Community Bank's shareholders, increasing Sussex's outstanding shares.

The Seidman-led group beneficially owns 302,117 Sussex shares or a 3.81% stake — below the 5% reporting threshold.