SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
August 8, 2005
SUN BANCORP, INC.
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(Exact name of Registrant as specified in its Charter)
New Jersey 0-20957 52-1382541
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(State or other jurisdiction (SEC File No.) (IRS Employer
of incorporation) Identification Number)
226 Landis Avenue, Vineland, New Jersey 08360
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (856) 691-7700
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Not Applicable
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(Former name or former address, if changed since last Report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
|_| Written communications pursuant to Rule 425 under the Securities Act
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act
SUN BANCORP, INC.
INFORMATION TO BE INCLUDED IN REPORT
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Section 1 - Registrant's Business and Operations
Item 1.01. Material Definitive Agreements.
On August 8, 2005, the Registrant and its wholly-owned subsidiary, Sun
National Bank (the "Bank"), entered into a Retirement Agreement with Executive
Vice President John P. Neary. Under such agreement, Mr. Neary will retire as an
executive officer of the Registrant and the Bank as of August 1, 2005 and remain
an employee of the Registrant and the Bank through April 30, 2007 during which
period he will continue to receive bi-weekly salary payments.
A copy of the Retirement Agreement is included with this Form 8-K as an
exhibit.
Section 9 - Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits.
(c) Exhibits
Exhibit 10 -- Retirement Agreement
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this Report to be signed on its behalf by the
undersigned, thereunto duly authorized.
SUN BANCORP, INC.
Date: August 12, 2005 By: /s/Dan A. Chila
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Dan A. Chila
Executive Vice President and
Chief Financial Officer