Sun Bancorp, Inc. operates as the bank holding company for Sun National Bank that provides a range of commercial and retail banking products and services in the United States. The company accepts various deposit products, including checking accounts, savings accounts, money market deposits, certificates of deposit, and individual retirement accounts, as well as business checking accounts. Its lending services include term loans and lines of credit, mortgage loans, construction loans, and equipment leasing for businesses; and residential mortgage and construction loans, second mortgage loans, home equity loans, and installment loans for consumers. The company also offers cash management services, such as electronic banking, sweep accounts, lockbox services, Internet banking, remote deposit, and controlled disbursement services; and mutual funds, securities brokerage, annuities, and investment advisory services through a third-party arrangement. As of December 31, 2008, it operated in 70 locations, including 62 community banking centers in New Jersey; and 5 commercial lending centers, including 1 located in Wilmington, Delaware. The company was founded in 1985 and is headquartered in Vineland, New Jersey.
In January the company began participating in the Treasury Department’s Capital Purchase Program. On January 9, 2009, Sun Bancorp received $89.3 million in exchange for preferred stock and warrants. On April 2009, the company re-purchased the stock from Treasury for $89.3 million.
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Federal Equity Investment
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Total Revenue
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$224.0 million (2007) |
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Net Income (Loss)
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$19.4 million (2007) |
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Number of Employees
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667
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Corporate Headquarters
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Vineland, NJ
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Business Sector
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Banking
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Officers and Directors
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Corporate Website
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Executive Compensation
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No federal contracts located.
No lobbying reports located.
Sun Bancorp political contributions.
April 10, 2009 Sun Bancorp Repays $89.3M To Tsy Capital Purchase Program
March 12, 2009 Sun Bancorp to return TARP funds, CEO says program ‘politicized’
Last updated August 3, 2009
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