Sun Bancorp (SNBC) Tops Q4 EPS by 2c

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Go back to Sun Bancorp (SNBC) Tops Q4 EPS by 2c

Sun Bancorp, Inc. Announces Fourth Quarter 2015 Net Income of $1.5 Million; Full Year 2015 Net Income of $10.2 Million

February 1, 2016 8:45 AM EST

MOUNT LAUREL, N.J., Feb. 1, 2016 /PRNewswire/ --

Fourth Quarter Highlights:

Net income of $1.5 million, or $0.08 per diluted share, for the quarter ended December 31, 2015. Quarterly operating expenses of $16.6 million are the lowest in more than 10 years. Annualized commercial loan growth of 12% in the fourth quarter. Completed comprehensive restructuring plan in 2015 and recently announced the termination of the formal written agreement with the Office of the Comptroller of the Currency. Non-performing loans fell to $3.1 million, or 0.2% of total loans, at December 31, 2015 from $11.0 million, or 0.73% of total loans, at... More