Sun Bancorp (SNBC) Tops Q2 EPS by 8c

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Go back to Sun Bancorp (SNBC) Tops Q2 EPS by 8c

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

July 26, 2016 9:02 AM EDT

MOUNT LAUREL, N.J., July 26, 2016 /PRNewswire/ --

Second Quarter Highlights:

Sixth consecutive quarter of profitability with net income of $3.0 million, or $0.16 per diluted share, for the quarter ended June 30, 2016, and net income of $3.8 million, or $0.20 per diluted share, for the six months ended June 30, 2016. Declared a quarterly cash dividend of $0.01 per share; first cash dividend in the history of Sun Bancorp, Inc. Recorded negative provision for loan losses of $1.7 million in second quarter due to sustained strength in asset quality. Net interest margin increased... More