Key Developments: Sun Bancorp Inc (SNBC.O)

SNBC.O on Nasdaq

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Latest Key Developments (Source: Significant Developments)

Sun Bancorp Inc announces completion of sale of seven locations to Sturdy Savings Bank
Monday, 9 Mar 2015 08:45am EDT 

Sun Bancorp Inc:Completed sale of six offices along with related deposits and certain loans in Cape May County as well as one office in Atlantic County to Sturdy Savings Bank.Says net gain on sale, after adjusting for the book value of fixed assets and certain transaction costs, will be about $9.2 mln.  Full Article

Sun Bancorp Inc completes sale of 1,133,144 shares of common stock - Form 8-K
Friday, 22 Aug 2014 03:07pm EDT 

Sun Bancorp Inc:On Aug. 21,Company completed previously announced sale of aggregate of 1,133,144 shares of common stock, par value $5.00 per share.At purchase price of $17.65 per share, or $19,999,991.60 in the aggregate.  Full Article

Sun Bancorp Inc announces $20 mln equity raise
Thursday, 14 Aug 2014 04:05pm EDT 

Sun Bancorp Inc:Announced that it has entered into purchase agreements to raise about $20 million in new equity through a privately-negotiated sale of its common stock to several institutional and private equity investors.Says it will issue a total of 1,133,144 shares in this transaction at a price per share of $17.65, which was priced based on a 5.2 pct discount from the closing price on Aug. 11.  Full Article

Sun Bancorp Inc hire Thomas M. O'Brien as President and Chief Executive Officer
Wednesday, 2 Apr 2014 08:00am EDT 

Sun Bancorp Inc:Hires Thomas M. O'Brien as President and Chief Executive Officer of the company and the Bank, subject to prior receipt of regulatory non-objection from the Federal Reserve Board and the Office of the Comptroller of the Currency.Sidney R. Brown, Chairman of the Board, will continue to serve as Interim President and Chief Executive Officer until the time O'Brien becomes an employee.  Full Article

Sun Bancorp Inc Announces Departure Of President And CEO
Monday, 25 Nov 2013 04:45pm EST 

Sun Bancorp Inc:Says Thomas X. Geisel, President and Chief Executive Officer (CEO) of the company and its wholly owned subsidiary.Says Sun National Bank will terminate employment effective Dec 2, 2013.Says Geisel will also resign as a member of the Board of Directors of the company and the Bank on that date.  Full Article

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