Sun Bancorp (SNBC) says investor Wilbur Ross and the company's founding Brown family will buy...

|By:, SA News Editor

Sun Bancorp (SNBC) says investor Wilbur Ross and the company's founding Brown family will buy $100M of common and preferred stock, equal to a 24.9% stake. The deal was done at $4 a share; Sun's common shares closed yesterday at $3.59. SNBC +30.2% premarket. (PR)