Condensed Financial Information of Parent Company (Tables)

12 Months Ended

Dec. 31, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Statements of Financial Condition

The condensed financial statements of Sun Bancorp, Inc. are as follows:

CONDENSED STATEMENTS OF FINANCIAL CONDITION

December 31,	2014		2013
Assets:
Cash and due from banks	$	29,775	$	17,437
Investments in subsidiaries:
Bank subsidiaries		303,795		316,714
Non-bank subsidiaries		2,786		2,786
Accrued interest receivable and other assets		3,681		3,311
Total assets	$	340,037	$	340,249
Liabilities and Shareholders’ Equity:
Liabilities
Junior subordinated debentures	$	92,786	$	92,786
Other liabilities		1,928		2,126
Total liabilities		94,714		94,912
Shareholders’ equity		245,323		245,337
Total liabilities and shareholders’ equity	$	340,037	$	340,249

Condensed Statements of Operations

CONDENSED STATEMENTS OF OPERATIONS

Years Ended December 31,	2014			2013			2012
Interest expense	$	(2,150	)	$	(2,188	)	$	(2,594	)
Management fee		4,130			4,573			3,438
Other expenses		(4,037	)		(4,311	)		(3,791	)
Loss before equity in undistributed loss of subsidiaries and income tax benefit		(2,057	)		(1,926	)		(2,947	)
Equity in undistributed loss of subsidiaries		(28,480	)		(8,681	)		(48,560	)
Income tax benefit		729			664			1,016
Net loss available to common shareholders	$	(29,808	)	$	(9,943	)	$	(50,491	)

Condensed Statements of Cash Flows

CONDENSED STATEMENTS OF CASH FLOWS

Years Ended December 31,	2014			2013			2012
Operating activities:
Net loss	$	(29,808	)	$	(9,943	)	$	(50,491	)
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Undistributed loss of subsidiaries		28,480			8,681			48,560
Stock-based compensation		226			167			(75	)
Change in assets and liabilities which provided (used) cash:
Accrued interest receivable and other assets		(730	)		(621	)		(1,024	)
Accounts payable and other liabilities		(487	)		(389	)		(234	)
Net cash used in operating activities		(2,319	)		(2,105	)		(3,264	)
Investing activities:
Payments for investments in and advances to subsidiaries		(7,500	)		—			(28,000	)
Net cash used in investing activities		(7,500	)		—			(28,000	)
Financing activities:
Proceeds from issuance of common stock		22,157			1,580			1,612
Net cash provided by financing activities		22,157			1,580			1,612
Net increase (decrease) in cash		12,338			(525	)		(29,652	)
Cash, beginning of year		17,437			17,962			47,614
Cash, end of year	$	29,775		$	17,437		$	17,962