Sun Bancorp (SNBC) Tops Q3 EPS by 12c

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Go back to Sun Bancorp (SNBC) Tops Q3 EPS by 12c

Sun Bancorp, Inc. Announces Third Quarter 2015 Earnings: Reports Net Income of $3.2 Million

October 26, 2015 8:45 AM EDT

MOUNT LAUREL, N.J., Oct. 26, 2015 /PRNewswire/ --

Third Quarter Highlights:

Net income of $3.2 million, or $0.17 per diluted share, for the quarter ended September 30, 2015, and $8.8 million, or $0.47 per diluted share, for the first nine months of 2015. Completion of comprehensive restructuring during the quarter with the sale of one branch and the consolidation of nine others. Since the Company's restructuring announcement in 2014, the Bank has reduced its branch count by 20 locations, or 39%. Capital ratios remain strong with total risk-based capital ratio of 21.8% and tangible equity to assets of 9.7% as of September... More