UNITED STATES
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) February 6, 2007
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 Commission (IRS Employer
of Incorporation) File No.) 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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Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
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Appointment of Certain Officers; Compensatory Arrangements of Certain
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Officers.
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On February 6, 2007, the Board of Directors of Sun Bancorp, Inc. (the
"Company") and the Board of Directors of Sun National Bank (the "Bank")
terminated Mr. Thomas A. Bracken as the President and Chief Executive Officer of
the Company and the Bank.
Mr. Sidney R. Brown, Vice Chairman, Treasurer and Secretary of the
Company has been appointed by the Company's Board of Directors to serve as
Acting President and Chief Executive Officer of the Company until a replacement
for Mr. Bracken is named. In the interim, A. Bruce Dansbury, Executive Vice
President and Chief Credit Officer of the Bank, has been appointed as an interim
chief operating officer for the Company and the Bank.
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, hereunto duly authorized.
SUN BANCORP, INC.
Date: February 7, 2007 By: /s/Dan A. Chila
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Dan A. Chila
Executive Vice President
and Chief Financial Officer