Exhibit 14

SUN BANCORP, INC.

CODE OF ETHICS AND CONDUCT

The term Sun Bancorp, Inc., or the “Company”, as used in this Code of Ethics and Conduct policy refers to Sun National Bank and each of its direct and remote subsidiaries and affiliates, either alone or as a group. It is the policy of Sun Bancorp that certain rules and guidelines regarding employee behavior are necessary for efficient business operations and for the benefit of all employees. Conduct that interferes with operations, discredits the Company, or is offensive to customers or coworkers will not be tolerated. All Sun Bancorp directors, officers and employees will be held accountable for adherence to this Code of Ethics and Conduct. Violations of this Code of Ethics and Conduct should be reported immediately to Human Resources.

Sun Bancorp is committed to conducting business according to the highest ethical standards. One of our basic values is integrity. Sun Bancorp has developed this Code of Ethics and Conduct policy to help its employees understand its commitment and to achieve this goal. Accordingly, the goals of this policy are among other things (i) to deter wrong doing and to promote honest and ethical conduct by all employees of Sun Bancorp, including, but not limited to, our principal executive officer, principal financial and accounting officers, controller and all other persons performing similar functions; (ii) to promote full, fair accurate and timely disclosure in documents and reports Sun Bancorp files with the Securities and Exchange Commission and in other public communications; and (iii) to promote compliance with all applicable governmental laws, rules and regulations.

Non-Discrimination

Sun Bancorp values diversity among its employees. Each day, our employees are not only expected to avoid discrimination in their relationships with each other and with customers and suppliers, but to encourage others to behave in a proper manner. Employment opportunities, assignments and promotions will be offered on the basis of merit regardless of race, color, religion, sex, age, marital status, military status, sexual orientation or national origin and with sensitivity to the needs and concerns of minorities and the handicapped. In addition, Sun Bancorp, Inc. strives to assure freedom from harassment for all its employees.

Genetic Information Non-Discrimination Act of 2008 (“GINA”)

Effective January 10, 2011, GINA prohibits employers and other entities covered by GINA Title II from requesting or requiring genetic information of employees or their family members. No representative of Sun National Bank shall make such inquiry of any employee and/or candidate for employment. If such information is made known, it will not be used in any manner as to be discriminatory. If at any time information protected under this law is requested from you, you can and should decline to respond.

“Genetic information,” as defined by GINA, includes an individual’s family medical history, the results of an individual’s or family member’s genetic tests, the fact that an individual or an individual’s family member sought or received genetic services, and genetic information of a fetus carried by an individual or an individual’s family member or an embryo lawfully held by an individual or family member receiving assistive reproductive services.

Anti-Discrimination/Harassment

The Bank is committed to maintaining a safe, harassment-free and discrimination-free work environment in which employees at all levels of the company are able to devote their full attention and best efforts to their jobs. Harassment, discrimination, or other inappropriate conduct, whether intentional or unintentional, has no place in our culture at Sun National Bank. Accordingly, the Company does not authorize and will not tolerate any form of harassment, discrimination, or other inappropriate conduct by any employee, whether supervisory or non-supervisory. This policy applies to conduct occurring in, but not limited to the Company’s primary locations and any work-related setting outside of the office including business trips, business meetings, and/or business-related social events.

All employees will be required to complete Respectful Workplace training at the time of hire and again annually during their employment.

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Exhibit 14

SUN BANCORP, INC.

CODE OF ETHICS AND CONDUCT

Anti-Retaliation / Whistleblower

Sun Bancorp bans retaliation against employees who file or assist in proceedings related to alleged violations of Company policy and/or state/federal regulations; and/or refuse to participate in unlawful or unethical activity.

If you know of an unlawful or unethical situation, you should immediately inform your Manager/Supervisor. You can also contact Human Resources or advance to the level higher than your Manager/Supervisor if you feel the issue(s) at hand involves sensitivity related to your Manager/Supervisor. A third option available to all employees is through an outside vendor called Ethics Point. Employees can call the confidential hotline at 1-866-311-5103 where they can speak to an EthicsPoint representative who will process the report for them. Employees can also log onto the confidential website at www.Ethicspoint.com. Your report of unlawful or unethical conduct will be promptly reviewed. Sun Bancorp will NOT tolerate threats or acts of retaliation against you for making this information available, for refusing to participate in unlawful or unethical activity, or reporting this to a supervisor/manager or government agency.

Guide to Responsible Conduct

We recognize that employees traditionally govern their activities under the same high standard of conduct and decency at work as they do in their personal lives. Experience has shown that when employees conduct themselves in a businesslike manner and use common sense, they work more efficiently and enjoy their work more.

Common sense and good business practices require that we communicate to you your individual responsibilities for maintaining discipline and proper standards of conduct. The general guide to responsible conduct is that you are to carry out your duties and responsibilities at all times in an efficient and professional manner.

We know that our employees are responsible individuals who are required to conduct themselves properly. It is the philosophy of Sun Bancorp to allow employees to govern their behavior out of respect for themselves and their co-workers and that this will bring on an increased feeling of job satisfaction and self-worth.

There may be some instances when employees choose not to accept the responsibility for proper conduct. If this happens, the incident will be discussed with the employee for the purpose of correcting the behavior. We believe that most situations can be resolved when discussed with the employee in a constructive manner.

Employees are expected at all times to conduct themselves in a positive manner in order to promote the best interests of the Company. For your guidance, we have listed acts that may result in corrective action, up to and including termination.

This list is not intended to be all-inclusive, but should give employees a good idea of what constitutes inappropriate conduct. Some examples of inappropriate employee conduct include:

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Exhibit 14

SUN BANCORP, INC.

CODE OF ETHICS AND CONDUCT

Conflicts of Interest

It is the policy of the Company to prohibit its employees from engaging in any activity, practice, or conduct which conflicts, or appears to conflict, with the interests of the Company. Because it is impossible to describe all of the situations that may cause or give the appearance of a conflict of interest, these rules are not intended to be exhaustive.

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Exhibit 14

SUN BANCORP, INC.

CODE OF ETHICS AND CONDUCT

Outside Employment

No employee, excluding the office of the Chairman and Vice Chairman, shall engage in any outside employment without first obtaining the approval of their Manager and Division Head. Additionally, to ensure there is no potential risk or conflict of interest, related to such arrangements, the EVP Chief Risk Officer will provide a final review and approval. For purposes of this policy acting as an independent contractor or consultant and/or other self-employment arrangement is considered outside employment.

Each request for approval of outside employment will be evaluated based upon the employee’s role and responsibility in the organization and the specific nature and potential conflict of interest of the external employment arrangement. The following are examples of circumstances whereby outside employment is prohibited.

Employees must inform their management of any change to the outside employment environment that might create a conflict of interest or otherwise disrupt the ability to meet their performance commitment and obligation to Sun. Manager’s will assess each situation, with Human Resources support, and make a determination on the continuation of the outside employment arrangement.

Any employee who does not disclose or otherwise misrepresents an outside employment relationship is subject to corrective action up to and including termination.

Social Media

At Sun, we recognize that social media and other forms of online conversation represent an increasingly popular way for people to communicate. However, because social media is a very public and highly visible media, it is important for our employees to understand and follow basic guidelines when using social media, in order to ensure that the Company’s, employees’ and third parties’ interest are properly protected.

For purposes of this policy, “social media” includes:

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Exhibit 14

SUN BANCORP, INC.

CODE OF ETHICS AND CONDUCT

In conjunction with established code of conduct, computer and internet use policies, inappropriate use of Social Media Sites, both in and out of the workplace is prohibited. Sun employees should adhere to the following guidelines when engaged in the use of social media:

These guidelines are intended to provide employees with best practices for freely and fully participating in the social media space, while ensuring that the Company’s confidential information and other interests are protected.

Sun will take the necessary steps to enforce this policy, including monitoring social media. It is the Company’s expectation that this policy will be carefully adhered to by all employees. Should we be made aware, either directly or indirectly, of an employee’s disregard for these guidelines, it will be seen as a violation of this policy as well as the Code of Ethics and will be subject to disciplinary action up to and including termination.

These guidelines and policies are not intended to, and will not be enforced, to discourage, prohibit or interfere with any employee’s federal or state labor law rights, including rights under the National Labor Relations Act, or any whistleblower protections under federal or state law.

Employment of Relatives

We have no general prohibition against hiring relatives. However, restrictions have been established to mitigate any potential problems of safety, security, supervision, conflict of interest and morale. While we accept and consider applications for employment from relatives, close family members (examples include parents, grandparents, children, spouses, brothers and sisters or in-laws) generally will not be hired, transferred, or promoted into positions where they directly or indirectly supervise or are supervised by another close family member. Relatives may not be assigned to the same department or cost center where a potential conflict of interest may occur. Where related employees possess lending authority, or other approval authority, in concert with one another, the company will take appropriate action to mitigate risk and to eliminate any real or perceived conflict of interest that may be caused. Such action may include removal of lending or approval authorities, change in job duties, reassignment to another position, or if necessary separation of employment. If an employee marries another employee or otherwise become related, these employees generally will not continue to be employed within the same department or cost center. Any exception must be approved by the department’s Executive Committee member.

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Exhibit 14

SUN BANCORP, INC.

CODE OF ETHICS AND CONDUCT

Confidential Nature of Company Affairs

The internal business affairs of the organization, particularly confidential information and trade secrets, represent Company property that each employee has a continuing obligation to protect.

Information designated as confidential may not be discussed with anyone outside of the organization and may be discussed within the organization only on a “need to know” basis. In addition, Directors and employees have a responsibility to avoid unnecessary disclosure of non-confidential internal information about the Company, its employees, its customers, and its suppliers. However, this Director/employee responsibility to safeguard internal Company affairs is not intended to impede normal business communications and relationships.

Sun Bancorp strictly prohibits deriving financial benefit from confidential information that could be obtained only by reason of employment or as a Director, whether such information relates to the bank, its customers, or anyone with whom it has business relations. Confidential information includes all non-public information that might be of use to competitors, or harmful to Sun Bancorp, Inc. or its customers if disclosed.

Proprietary Information and Trade Secrets

Employees have access to a broad range of confidential and proprietary information and are obligated to use this information only to the extent necessary for the performance of their duties. Such information may not be disclosed in any form to any person not representing the Company. Any disclosure and/or use of confidential or proprietary information unrelated to the performance of an employee’s job, even if only from memory, during employment and after termination, will be a violation of this policy.

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Exhibit 14

SUN BANCORP, INC.

CODE OF ETHICS AND CONDUCT

Non-Solicitation of Employees

For a period of twelve (12) months following termination of employment, an individual will not, directly or indirectly, solicit or entice for employment or hire, any Company employee without the written consent of Sun National Bank.

Gifts and Entertainment

Under the Bank Bribery Act, you could be guilty of a serious federal crime if you solicit, receive or agree to receive anything of value (including services), for yourself or anyone related to you from any person in connection with any transaction or business of Sun Bancorp.

The Bank Bribery Act provides for significant fines and imprisonment.

The person giving anything of value (including services) is subject to the same penalties.

The following Department of Justice guidelines are adopted by Sun Bancorp, Inc.:

A “reasonable” standard of conduct is one that permits a Director, Officer or employee to receive the normal amenities that facilitate the discussion of business. This might include a business meal or modest entertainment, but would exclude the receipt of benefits that serve no demonstrable business purpose, such as a weekend hunting or fishing expedition or the receipt of scarce or expensive tickets to athletic or theatrical events.

Conduct that falls within reasonable standards of behavior and which is calculated to do nothing more than facilitate the discussion of bank business or to foster good business relations within a community presents no corrupting threat to the employee’s fiduciary duty and is inappropriate for prosecution. Similarly, receipt of insignificant gifts of modest or nominal value would not entail a breach of a Director’s, Officer’s, or employee’s fiduciary duty or entail dishonesty.

The U.S. Department of Justice, in setting forth guidelines for the U.S. Attorneys concerning violations of the Bank Bribery Act, stated that the law will be enforced in light of reasonable conduct.

No Director, Officer, or employee shall solicit anything of value (including services) either for the Director or for any other person or organization, from any person or organization, for or in connection with any transaction or business of Sun Bancorp.

No Director, Officer or employee shall accept or agree to accept, either for the Director or for any other person or organization any cash payment or anything substantially equivalent to cash (including, without limitation, any deposit or bond) in connection with a transaction or business of Sun Bancorp.

No Director, Officer or employee shall accept anything of value (including services) from any customer or supplier that does not meet the standard of “reasonableness” as set forth in the above outlined paragraph.

No Director, Officer or employee shall accept or agree to accept anything of value (including services) either for the Director or for any other person or organization if it is intended to, or would, influence the Director, Officer or employee in the conduct of the business of Sun Bancorp, Inc.

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Exhibit 14

SUN BANCORP, INC.

CODE OF ETHICS AND CONDUCT

Any Director, Officer or employee who is offered or receives something of value beyond that authorized, is required to disclose that fact to the Director of Risk Management. You are also required to disclose all potential conflicts of interest, including inadvertent ones that arise due to business or personal relationships with customers, suppliers, business associates, or competitors of the Bank. Sun Bancorp, Inc.’s general rule against accepting gifts is to prevent corruption or breach of trust. For this reason, insignificant gifts or entertainment of modest or nominal value that does not involve any improper or illegal or corrupt motives may be accepted.

Personal Finances of Employees

Company employees should meet their financial obligations in a timely manner.

Political Contributions

No Company funds or assets shall be used to make any political contributions in any country other than the United States. Sun Bancorp may make political contributions of funds or assets to the extent permitted by applicable law with prior authorization of senior management.

Unusual Payments

No false or deceptive entries shall be made in Sun Bancorp’s books or records. No Company fund or asset that is not disclosed in such books and records shall be established for any purpose.

No payment on behalf of Sun Bancorp, Inc. shall be made or approved with the intention or understanding that any part of such payment is to be used for a purpose other than that described in the documents supporting that payment.

No person who has a decision-making role on behalf of a customer of Sun Bancorp, Inc. in a contemplated loan or deposit transaction shall be paid any commission or other payment in connection with that loan or deposit.

Compliance with All Applicable Government Laws, Rules and Regulations

All employees are required to comply with all applicable government laws, rules and regulations and to report violations thereof to Human Resources.

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Exhibit 14

SUN BANCORP, INC.

CODE OF ETHICS AND CONDUCT

All employees are expected to assist the Company in providing full, fair, accurate and timely disclosure in reports and documents filed with the Securities and Exchange Commission and in other public communications made by Sun Bancorp.

Customer Service

It is the policy of the Company to be customer and service oriented and to require employees to treat customers in a courteous and respectful manner at all times.

Our customers provide the primary source of the Company’s income and each employee’s job security. To promote excellent relations with our customers, all employees must represent the Company in a positive manner and make customers feel appreciated when dealing with the organization.

Employees with customer contact are expected to know the Company’s products and services and to learn what customers want and need. These employees should educate customers about the use of the organization’s products and services and should seek new ways to serve customers.

Employees are encouraged to report recurring customer-related problems to their Manager/Supervisor and to make suggestions for changes in Company policies or procedures to solve problems.

Employees should be prepared to listen carefully to customer complaints and deal with them in a helpful, professional manner. If a controversy arises, the employee should explain Company policy respectfully and clearly. Customers who become unreasonable, abusive, or harassing should be referred to the employee’s Manager/Supervisor if the employee cannot resolve the problem.

Employees should be polite and thoughtful when using the telephone. A positive telephone contact with a customer can enhance goodwill, while a negative experience can destroy a valuable relationship.

Distribution and Administration of This Policy

The Chief Executive Officer of Sun Bancorp shall make sure that this Code of Ethics and Conduct is distributed to each Director of the CEO’s organization and each new Director upon election.

The Human Resources Department shall make sure that this Code of Ethics and Conduct is distributed electronically to each officer and employee at the time of employment.

Each employee will re-affirm their adherence to the Code of Ethics and Conduct of Sun Bancorp on an annual basis. Acknowledgement indicating that each employee has received, read, understands and agrees to be bound by the contents of the policy is required.

Employee review and affirmation is electronically filed by accessing their individual employee record through https://portal.adp.com/ entering a review confirmation date.

The Human Resources Department shall review this policy on an annual basis to assure compliance with any required changes, including government legislation affecting the interpretation and inclusions to this policy.

Employees failing to adhere to this policy may be subject to disciplinary action, up to and including termination, and may be subject to legal action.

Waivers to this policy may only be granted by the Board of Directors or one of its designated committees. Any such waivers shall be publicly disclosed.

This policy shall be publicly available.

All violations of this policy shall be immediately reported to the Human Resources Department.

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