SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES
13d-1(b) AND (c) AND AMENDMENTS THERETO FILED PURSUANT TO
13d-2(b)
(Amendment No. __________)
SUN BANCORP, INC.
-----------------
(Name of Issuer)
Common Stock $1.00 Par Value Per Share
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(Title of Class of Securities)
86663B 10 2
-------------------------
(CUSIP Number)
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<S> <C> <C> <C> <C> <C>
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13G
CUSIP No. 8666B 10 2 Page 1 of ____ Pages
- ------------------------------- ------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Bernard A. Brown
- -----------------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
N/A
- -----------------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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5 SOLE VOTING POWER
NUMBER OF
100,777 Shares
SHARES ------------------------------------------------------------------------------------------------------------
6 SHARED VOTING POWER
BENEFICIALLY
958,141 Shares
OWNED BY
------------------------------------------------------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
405,158 Shares
REPORTING
------------------------------------------------------------------------------------------------------------
PERSON WITH
8 SHARED DISPOSITIVE POWER
958,141 Shares
- -----------------------------------------------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,363,299 Shares
- -----------------------------------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES |_|
N/A
- -----------------------------------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
31.6%
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12 TYPE OF REPORTING PERSON
IN
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CUSIP No. 8666B 10 2 13 G Page 1 of ____ Pages
- ----------------------------------------------------- --------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Shirley G. Brown
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
N/A (b) |_|
- -----------------------------------------------------------------------------------------------------------------------------------
SEC USE ONLY
- -----------------------------------------------------------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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5 SOLE VOTING POWER
NUMBER OF --
SHARES ------------------------------------------------------------------------------------------------------------
6 SHARED VOTING POWER
BENEFICIALLY
958,141 Shares
OWNED BY ------------------------------------------------------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
EACH
--
REPORTING
------------------------------------------------------------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE POWER
958,141 Shares
- -----------------------------------------------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
958,141 Shares
- -----------------------------------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES |_|
N/A
- -----------------------------------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
23.9%
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12 TYPE OF REPORTING PERSON
IN
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CUSIP No. 8666B 10 2 13 G Page 1 of ____ Pages
- --------------------------------------------- ------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Vineland Construction Company
- -----------------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
N/A
- -----------------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -----------------------------------------------------------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 486,228 Shares
SHARES ------------------------------------------------------------------------------------------------------------
6 SHARED VOTING POWER
BENEFICIALLY --
OWNED BY
------------------------------------------------------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
486,228 Shares
REPORTING ------------------------------------------------------------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE POWER
--
- -----------------------------------------------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
486,228 Shares
- -----------------------------------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES |_|
N/A
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
12.1%
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12 TYPE OF REPORTING PERSON
CO
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Item 1(a). Name of Issuer:
Sun Bancorp, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
- ------------------------------------------------------------
226 Landis Avenue, Vineland, New Jersey 08360
Item 2(a). Name of Person Filing:
- ----------------------------------
Bernard A. Brown, Shirley G. Brown and Vineland Construction Company.
Bernard and Shirley Brown are husband and wife, and each own 50 percent of
Vineland Construction Company.
Item 2(b). Address of Principal Business Office or, if None,
- ------------------------------------------------------------
Residence:
----------
71 West Park Avenue, Vineland, New Jersey 08360
Item 2(c). Citizenship:
- ------------------------
Mr. and Mrs. Brown are citizens of the United States and Vineland
Construction Company is a New Jersey corporation.
Item 2(d). Title of Class of Securities:
- -----------------------------------------
Common Stock, $1.00 par value per share.
Item 2(e). CUSIP Number:
- -------------------------
86663B 10 2
Item 3.
- -------
Not Applicable.
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Item 4. Ownership:
- -------------------
The following information relates to the reporting persons' ownership as of
December 31, 1997.
(a) Amount beneficially owned:
Mr. Brown
---------
1,363,299 shares *
Mrs. Brown
----------
958,141 shares **
Vineland Construction Company
486,228 shares
(b) Percent of Class:
Mr. Brown
---------
31.6%
Mrs. Brown
----------
23.9%
Vineland Construction Company
12.1%
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(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote
Mr. Brown
---------
100,777 shares
Mrs. Brown
----------
--
Vineland Construction Company
486,228 shares
(ii) Shared power to vote or to direct the vote
Mr. Brown
---------
958,141 shares *
Mrs. Brown
----------
958,141 shares **
Vineland Construction Company
-----------------------------
--
(iii) Sole power to dispose or to direct the disposition of
Mr. Brown
---------
405,158 shares***
Mrs. Brown
----------
--
Vineland Construction Company
-----------------------------
486,228 shares
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(iv) Shared power to dispose or to direct the disposition
of
Mr. Brown
---------
958,141 shares *
Mrs. Brown
----------
958,141 shares **
Vineland Construction Company
-----------------------------
--
- -----------------
* Includes shares held by Shirley G. Brown and Vineland Construction Company
** Includes shares held by Vineland Construction Company
*** Includes 304,381 shares underlying options which are exercisable within 60
days of December 31, 1997.
Item 5. Ownership of Five Percent or Less of a Class:
- ------------------------------------------------------
Not Applicable.
Item 6. Ownership of More Than Five Percent on Behalf of Another Person:
- -------------------------------------------------------------------------
Not Applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
- --------------------------------------------------------------------------------
Security Being Reported on by the Parent Holding Company:
---------------------------------------------------------
Not Applicable.
Item 8. Identification and Classification of Members of the Group:
- -------------------------------------------------------------------
Not Applicable.
Item 9. Notice of Dissolution of Group:
- ----------------------------------------
Not Applicable.
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Item 10. Certification:
- ------------------------
Not Applicable.
Exhibits
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99.1 Joint Filing Agreement
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete, and
correct.
Date: 2/13/98 /s/Bernard A. Brown
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Bernard A. Brown
EXHIBIT 99.1
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AGREEMENT, dated as of this 13th day of February 1998, by and between
each of the persons named on the signature pages hereto, in consideration of the
mutual covenants and agreements set forth herein.
WHEREAS, each of the parties hereto beneficially owns shares (the
"Shares") of common stock of Sun Bancorp, Inc. a New Jersey corporation (the
"Company"); and
WHEREAS, the parties hereto may be deemed to jointly own a certain
amount of the Shares;
NOW, THEREFORE, the parties hereto hereby agree as follows:
1. The parties hereto shall prepare a statement containing the
information required by Schedule 13G with respect to their respective interests
in the Shares (the "Schedule 13G") and any necessary amendments thereto, and for
the completeness and accuracy of the information concerning him, her or it
contained therein, but shall not be responsible for the completeness and
accuracy of the information concerning any other party contained therein, except
to the extent that he, she or it knows or has reason to believe that such
information is inaccurate.
2. Mr. Bernard A. Brown shall be designated as the person authorized to
receive notices and communications with respect to the Schedule 13G and any
amendments thereto.
3. Each of the undersigned hereby constitutes and appoints Bernard A.
Brown his, her or its true and lawful attorney-in-fact and agent, with full
power of substitution and resubstitution, for him or it and in his, her or its
name, place and stead, in any and all capacities, to sign Schedule 13G and any
and all amendments thereto, and other documents in connection therewith, to be
filed with the Securities and Exchange Commission, granting unto said
attorney-in-fact and agent all power and authority to do and perform each and
every act requisite and necessary to be done, as fully to all intents and
purposes as he, she or it might or could do in person, hereby ratifying and
confirming all that said attorney-in-fact and agent, or his substitute or
substitutes, may lawfully do or cause to be done by virtue hereof.
4. This Agreement may be executed in counterparts, each of which taken
together shall constitute one and the same instrument.
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IN WITNESS WHEREOF, the undersigned have executed this
Agreement as of the date first above written.
By: /s/Bernard A. Brown
-------------------------------
Bernard A. Brown
By: /s/Shirley G. Brown
-------------------------------
Shirley G. Brown
VINELAND CONSTRUCTION COMPANY
By: /s/Bernard A. Brown
By: /s/Shirley G. Brown
