Sun Bancorp Inc. Reports Operating Results (10-K/A)

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Apr 30, 2010
Sun Bancorp Inc. (SNBC, Financial) filed Amended Annual Report for the period ended 2009-12-31.

Sun Bancorp Inc. has a market cap of $134.4 million; its shares were traded at around $5.75 with and P/S ratio of 0.7. SNBC is in the portfolios of Private Capital of Private Capital Management, Chuck Royce of Royce& Associates, Jim Simons of Renaissance Technologies LLC.

Highlight of Business Operations:

Thomas X. Geisel joined the Company as President and Chief Executive Officer in January 2008 and is also a director of the Company. Mr. Geisel also serves as the President and Chief Executive Officer of the Bank and is a director of the Bank. He also serves as a member of the Executive Committee of the Board. Prior to joining the Company, Mr. Geisel held a number of positions with KeyCorp (“Key”). He joined Key in July 1999 in New York City where he served as Managing Director of Investment Banking for the East and West Regions of KeyBanc Capital Markets (formerly McDonald Investments Key Business Advisory Services division). In 2002, he was promoted to President of Key s Capital Region New York District and subsequently to Regional Executive for Commercial Banking for which he relocated to Albany, New York. From 2005 through 2007, he served as President for Key s Northeast Region, which comprised eight districts across New York, New England and Florida, with assets of approximately $20 billion and revenue exceeding $550 million. Mr. Geisel s other experience includes representing the U.S. Department of Justice in various capacities domestically and as a diplomat in Latin America and the Caribbean. His banking and financial insight and expertise have been showcased on prominent business news network shows, including Bloomberg News, CNBC s “Squawk Box” and Fox Business Channel s “Cavuto” with host Neil Cavuto, as well as in national publications, including American Banker, US Banker and The Wall Street Journal. As an active member of the community, Mr. Geisel has spoken on topical business, financial and economic issues and trends. He serves on the board of directors of the New Jersey State Chamber of Commerce and the Atlantic County Community Development Corporation (CDC), and he is a member of the CEO Group. Mr. Geisel also served as the chairman of the American Heart Association s 2009 Southern New Jersey Spring Heart Walk. In addition to his elevated stature in New Jersey, Mr. Geisel s 20 plus years of well-diversified financial services experience and executive leadership and management skills make him an integral member of the Company s Board of Directors.

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