Last $18.89 USD
Change Today +0.05 / 0.27%
Volume 24.0K
SNBC On Other Exchanges
Symbol
Exchange
NASDAQ GS
As of 8:10 PM 09/22/14 All times are local (Market data is delayed by at least 15 minutes).

sun bancorp inc-nj (SNBC) Snapshot

Open
$18.65
Previous Close
$18.84
Day High
$19.13
Day Low
$18.65
52 Week High
07/7/14 - $22.00
52 Week Low
11/12/13 - $15.35
Market Cap
329.5M
Average Volume 10 Days
19.5K
EPS TTM
$-2.23
Shares Outstanding
17.4M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for SUN BANCORP INC-NJ (SNBC)

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sun bancorp inc-nj (SNBC) Details

Sun Bancorp, Inc. operates as the holding company for Sun National Bank that provides various commercial and consumer banking services in New Jersey. The company offers various deposit instruments consisting of checking accounts, savings accounts, money market accounts, certificates of deposits, and individual retirement accounts, as well as business checking accounts. Its loan portfolio includes commercial and industrial loans, such as short-term and long-term business loans, lines of credit, mortgage loans on commercial real estate, and construction loans to developers and builders; residential mortgage loans, residential construction loans, home equity term loans, home equity lines of credit, and installment loans; consumer loans; and small business loans. The company also provides cash management services comprising electronic banking, sweep accounts, lockbox services, merchant services, online banking services, and remote deposit and controlled disbursement services; investment services, including insurance, annuities, mutual funds, securities brokerage, real estate investment trusts, and investment advisory services; and equipment leasing services. As of April 21, 2014, it operated a network of approximately 50 locations in New Jersey. Sun Bancorp, Inc. was founded in 1985 and is headquartered in Mount Laurel, New Jersey.

631 Employees
Last Reported Date: 03/14/14
Founded in 1985

sun bancorp inc-nj (SNBC) Top Compensated Officers

Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $490.0K
Chief Risk Officer and Executive Vice Preside...
Total Annual Compensation: $400.0K
Chief Administrative Officer of Sun National ...
Total Annual Compensation: $290.0K
Executive Vice President of Sun National Bank...
Total Annual Compensation: $237.9K
Compensation as of Fiscal Year 2013.

sun bancorp inc-nj (SNBC) Key Developments

Sun Bancorp Inc Appoints Patricia Schaubeck as Executive Vice President and General Counsel

Sun Bancorp Inc. has appointed Patricia Schaubeck as executive vice president and general counsel. In her role, Schaubeck will advise the bank's management and the board of directors on legal, strategic, regulatory and governance issues. Schaubeck most recently served as executive vice president and general counsel and corporate secretary of Suffolk Bancorp Inc.

Sun Bancorp Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Announces Net Charge-Offs for the Second Quarter of 2014

Sun Bancorp Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company announced total interest income of $23,777,000 compared to $25,711,000 for the same period a year ago. Net interest income was $20,612,000 compared to $21,776,000 for the same period a year ago. Loss before income taxes was $23,891,000 compared to income before income taxes of $678,000 for the same period a year ago. Net loss available to common shareholders was $24,248,000 or $0.28 per basic and diluted share compared to net income available to common shareholders of $678,000 or $0.01 per basic and diluted share for the same period a year ago. Negative return on average assets was 3.25% compared to positive return on average assets of 0.08% for the same period a year ago. Negative return on average equity was 38.17% compared to positive return on average equity of 1.03% for the same period a year ago. Negative return on average tangible equity was 45.00% compared to positive return on average tangible equity of 1.22% for the same period a year ago. Book value per share was $2.61 compared to $3.03 for the same period a year ago. Tangible book value per share was $2.17 compared to $2.56 for the same period a year ago. For the six months, the company announced total interest income of $48,417,000 compared to $52,794,000 for the same period a year ago. Net interest income was $42,004,000 compared to $44,854,000 for the same period a year ago. Loss before income taxes was $25,438,000 compared to income before taxes of $3,131,000 for the same period a year ago. Net loss available to common shareholders was $26,154,000 or $0.30 per basic and diluted share compared to net income available to common shareholders of $3,131,000 or $0.04 per basic and diluted share for the same period a year ago. Negative return on average assets was 1.75% compared to positive return on average assets of 0.19% for the same period a year ago. Negative return on average equity was 20.71% compared to positive return on average equity of 2.38% for the same period a year ago. Negative return on average tangible equity was 24.46% compared to positive return on average tangible equity of 2.81% for the same period a year ago. The company's net charge-offs were $20.2 million in the second quarter of 2014, as compared to net charge-offs in the linked quarter of $1.8 million and net recoveries of $2.8 million in the second quarter of 2013. Second quarter gross charge-offs related to loan sale activity totaled $19.0 million.

Sun Bancorp Announces Management Changes

Sun Bancorp in Mount Laurel, N.J., has agreed to hire four new executives, promoted another executive, and hired a technology consulting firm. The company agreed to hire Nicos Katsoulis as chief lending officer and Anthony Morris as chief banking officer. Both appointments are subject to approval from company's regulator, the office of the Comptroller of the Currency. Katsoulis, a former director of State Bancorp in Jericho, N.Y., has been working as a consultant to the company. Morris is joining the company from CIT Group and will work as a consultant to company starting Aug. 4, 2014, until his appointment is approved by regulators. Also the company will hire Flaviano Sabater as chief auditor and Paul DeStefano as director of security. Additionally, the company will promote Margaret Sepp to director of bank operations from internal auditor.

 

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