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Sun Bancorp Inc (SNBC.O)

SNBC.O on Nasdaq

22.80USD
18 Aug 2017
Change (% chg)

$-0.04 (-0.18%)
Prev Close
$22.84
Open
$22.45
Day's High
$23.10
Day's Low
$22.45
Volume
30,449
Avg. Vol
37,800
52-wk High
$26.80
52-wk Low
$21.93

Latest Key Developments (Source: Significant Developments)

Sun Bancorp Q2 earnings per share $0.08
Wednesday, 26 Jul 2017 08:45am EDT 

July 26 (Reuters) - Sun Bancorp Inc ::Sun Bancorp, Inc announces second quarter net income of $1.5 million, or $0.08 per diluted share; board of directors declares quarterly dividend of $0.01.Q2 earnings per share $0.08.Sun Bancorp Inc - net interest income was $14.9 million for three months ended June 30, 2017, compared to $14.8 million for three months ended march 31, 2017.  Full Article

Oceanfirst Financial says termination fee for merger with Sun Bancorp set at $17.05 mln
Monday, 3 Jul 2017 04:39pm EDT 

July 3 (Reuters) - Oceanfirst Financial Corp :Says termination fee for merger with sun bancorp set at $17.05 millio‍​n.  Full Article

OceanFirst Financial reports agreement to acquire Sun Bancorp
Friday, 30 Jun 2017 06:00am EDT 

June 30 (Reuters) - Oceanfirst Financial Corp ::OceanFirst Financial Corp. announces agreement to acquire Sun Bancorp, Inc..Says ‍transaction is valued at approximately $25.27 per sun common share​.Says ‍transaction is valued at approximately $487 million in aggregate.​.OceanFirst Financial Corp says under terms of merger agreement, deal unanimously approved by boards of directors of both companies.OceanFirst Financial Corp - expects to incur one-time pre-tax merger and integration costs of approximately $46 million.OceanFirst Financial - consideration a sun shareholder will receive is equivalent to 0.7884 shares of oceanfirst common stock and $3.78 in cash per share of sun common stock.OceanFirst Financial Corp - ‍transaction is expected to be accretive to earnings per share by approximately 3.6 pct in 2019​.OceanFirst Financial Corp - OceanFirst expects to achieve cost savings of approximately 53 pct of Sun's noninterest expense base.OceanFirst Financial - aggregate consideration to be paid in exchange for sun common stock consists of about 15.1 million shares of co, $72.5 million in cash​.OceanFirst Financial Corp - Piper Jaffray & Co. is serving as financial advisor to OceanFirst.Says ‍Sun shareholders will have right to elect to receive stock or cash consideration for their shares​.Says ‍agreement has been unanimously approved by boards of directors of both companies​.Says ‍sun National Bank will also merge with and into OceanFirst Bank​.  Full Article

Sun Bancorp Q1 earnings per share $0.07
Thursday, 27 Apr 2017 08:45am EDT 

April 27 (Reuters) - Sun Bancorp Inc :Sun Bancorp Inc announces first quarter net income of $1.4 million, or $0.07 per diluted share; board of directors declares quarterly dividend of $0.01.Q1 earnings per share $0.07.Sun Bancorp Inc - net interest income was $14.8 million for quarter ended March 31, 2017, compared to $14.5 million for quarter ended March 31, 2016.  Full Article

Sun Bancorp says James Lockhart III elected as a director of co
Friday, 31 Mar 2017 01:09pm EDT 

Sun Bancorp Inc : On March 28, co announced that Board of Directors of co elected James Lockhart III as a director of co . Co also announced that Board of Directors of co elected James Lockhart III as a director to Board of co's unit - SEC filing .Size of both co and co's unit's Boards of Directors will be increased by one to eleven members.  Full Article

Sun Bancorp Inc announces resignation of Wilbur L. Ross, Jr. from company and bank boards
Thursday, 2 Mar 2017 08:45am EST 

Sun Bancorp Inc : Sun Bancorp Inc announces resignation of Wilbur L. Ross, Jr. from company and bank boards . Says director Wilbur L. Ross, Jr., has submitted his resignation from boards of company and bank, effective February 28, 2017 . Sun Bancorp Inc says as a result of Wilbur L. Ross, Jr resignation, size of boards will be decreased by one to ten members .Sun Bancorp Inc says WLR SBI Acquisition Co LLC informed co that it anticipates exercising right to nominate replacement director in immediate future.  Full Article

Sun Bancorp Q4 EPS $0.12 excluding items
Tuesday, 31 Jan 2017 07:45am EST 

Sun Bancorp Inc : Q4 earnings per share $0.12 excluding items . Q4 earnings per share $2.94 . Sun bancorp inc says during q4, average commercial loans grew by 8% annualized while average deposits grew by 4% annualized . Sun Bancorp Inc - net interest income was $14.8 million for quarter ended december 31, 2016, compared to $14.7 million for quarter ended september 30, 2016 . Sun Bancorp Inc- there was no provision for loan losses during quarters ended december 31, 2016 and september 30, 2016 . Sun Bancorp - as a result of reversal, company will begin recording federal and state tax expense on its earnings beginning in q1 of 2017 . Sun Bancorp Inc says at december 31, 2016, bank's tier 1 common equity risk-based capital ratio was 18.9 percent .Sun Bancorp - any change in federal corporate tax rate could significantly impact amount of deferred tax asset company may recognize.  Full Article

Sun Bancorp reports Q2 earnings per share $0.16
Tuesday, 26 Jul 2016 09:00am EDT 

Sun Bancorp, Inc. : Announces second quarter earnings: net income of $3.0 million, or $0.16 per diluted share; declares quarterly common cash dividend of $0.01-first in company's history . Q2 earnings per share $0.16 . Net interest income was $14.9 million for quarter ended June 30, 2016, compared to $14.5 million for quarter ended March 31, 2016 ."In second half of 2016, we expect to experience additional savings from expiring leases, anticipated reductions in insurance premiums".  Full Article

BRIEF-Sun Bancorp Q2 earnings per share $0.08

* Sun Bancorp, Inc announces second quarter net income of $1.5 million, or $0.08 per diluted share; board of directors declares quarterly dividend of $0.01