Sun Bancorp Inc. in Vineland, N.J., warned Friday that it expects to report a third-quarter provision for loan losses of $16.2 million, a 133% increase from the second quarter.

The $3.5 billion-asset Sun also said it would charge off $14.5 million of loans, write down $800,000 on the value of a commercial warehouse it holds as real estate owned, and take an impairment charge of about $1.9 million on a pooled trust-preferred security.

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