Oct 9 (Reuters) - Sun Bancorp Inc (New Jersey):
* To add to loan loss provision, incur other charges in third quarter
* Says expects to record a third quarter provision for loan losses of
approximately $16.2 million
* Says increasing allowance for loan losses to approximately 1.70% of
outstanding loans at September 30
* Says Q3 results are expected to include a write-down of $800,000 on the value
of a commercial warehouse
* Says expects to recognize an impairment charge during the quarter of
approximately $1.9 million
* Says net charge-offs of $14.5 million are expected to be recorded during the
third quarter of 2009
* Says Q3 non-performing assets are expected to be approximately $94 million
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
(For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* To add to loan loss provision, incur other charges in third quarter
* Says expects to record a third quarter provision for loan losses of
approximately $16.2 million
* Says increasing allowance for loan losses to approximately 1.70% of
outstanding loans at September 30
* Says Q3 results are expected to include a write-down of $800,000 on the value
of a commercial warehouse
* Says expects to recognize an impairment charge during the quarter of
approximately $1.9 million
* Says net charge-offs of $14.5 million are expected to be recorded during the
third quarter of 2009
* Says Q3 non-performing assets are expected to be approximately $94 million
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
(For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
