SNBC - Sun Bancorp, Inc.

Sun Bancorp, Inc. (SNBC) is a bank holding company based in Mount Laurel, New Jersey. The company operates through its wholly-owned subsidiary, Sun National Bank, which provides a range of banking and financial services to customers in New Jersey, Pennsylvania, and New York.

As of the close of trading on February 18, 2023, Sun Bancorp's stock was trading at $19.55 per share. The company has a market capitalization of approximately $516 million.

Sun National Bank offers a variety of deposit products, including checking accounts, savings accounts, money market accounts, and certificates of deposit. The bank also provides lending services, such as commercial loans, real estate loans, and consumer loans. In addition, Sun National Bank offers wealth management and investment services through its subsidiary, Cypress Capital Group.

In terms of financial performance, Sun Bancorp reported net income of $24.6 million for the full year 2021, up from $19.8 million in the previous year. The company's net interest margin, a key measure of profitability for banks, was 3.18% in 2021, up from 3.14% in 2020.

Sun Bancorp has a strong capital position, with a total risk-based capital ratio of 17.10% as of December 31, 2021, which is well above the regulatory minimums. The company has a history of paying dividends to shareholders, and currently pays a quarterly dividend of $0.10 per share.

Overall, Sun Bancorp is a well-capitalized bank holding company that provides a range of banking and financial services to customers in the Northeastern United States. While the company has shown solid financial performance in recent years, investors should carefully consider the risks and potential rewards before investing in Sun Bancorp's stock.