-
Sun Bancorp in Mount Laurel, N.J., reported a second-quarter loss due to one-time charges related to its ongoing restructuring efforts.
July 31 -
Zions Bancorp. in Salt Lake City is planning to raise $525 million in fresh capital to satisfy regulators' concerns about its ability to withstand a severe economic downturn.
July 28 -
Colony Financial in Santa Monica, Calif., plans to raise up to $382 million by selling common stock.
July 22
Sun Bancorp in Mount Laurel, N.J., plans to raise approximately
The $2.9 billion-asset bank has agreed to sell approximately 1.1 million shares of common stock to institutional and private equity investors.
The bank intends to use the proceeds to cover expenses from a
"While the approximate one-time cost of this restructuring was $20 million, the company and its main subsidiary Sun National Bank have remain well capitalized," said Thomas O'Brien, the bank's chief executive, in a news release Thursday.
"The combination of the capital raise and the previously announced balance sheet reductions will allow the company to execute its new business plan from an even stronger capital position," O'Brien added.
Sun Bancorp has undergone several leadership changes in the past year. O'Brien joined the bank in April, replacing former CEO Thomas Geisel, who
In July, Sun Bancorp reported a
