Suncrest CEO calls merger with Community Business Bank “transformational,” nearly doubling its assets

@TheSunGazette

VISALIA – Suncrest Bank, the only bank headquartered in Visalia, has nearly doubled in size following a merger with a Sacramento area bank. 

On May 21, Suncrest Bank closed its merger with CBBC Bancorp (CBBC), the parent company of Community Business Bank in West Sacramento, Calif., bringing Suncrest’s total assets to $900 million, nearly double the $545 million it reported at the end of the first quarter. The $62.5 million deal received regulatory approval on May 16.

“We are looking forward to completing this transformational deal and welcoming both Mr. John DiMichele and Mr. Chad Meyer to the Suncrest Bank Board of Directors,” said Mr. Ciaran McMullan, president and CEO of Suncrest Bank. “Their deep experience and knowledge of the Community Business Bank markets and customer base will help ensure a smooth transition and continued growth in the Greater Sacramento and Lodi markets.”

CBBC Bancorp’s market area includes the greater Yolo, Solano, Sacramento, San Joaquin, and contiguous counties. It focuses on and provides highly personalized commercial banking services to businesses, professionals, and nonprofit organizations. Community Business Bank continues to be recognized by multiple ranking groups as one of the top performing community banks in America. The Bank has received the highest ratings of recognition from Bauer Financial, Bankrate, Weiss Rating, DDF, CB Top 10 and The Findely Reports. For more information on CBBC visit the bank’s web site at www.CommunityBizBank.com

“We are excited to bring our two strong banks together and both Chad and I look forward to joining the Suncrest Board and continuing to play an important role in the ongoing development of our combined organizations,” said John A. DiMichele, chief executive officer of CBBC.

Suncrest announced the merger with the CBBC last November. CBBC is headquartered in West Sacramento, Calif., with $325 million in assets and two branches located in West Sacramento and Lodi, Calif. and a Loan Production Office in Roseville, Calif. Suncrest operates five branches in Porterville, Visalia, Kingsburg, Fresno and Yuba City. 

Suncrest Bank, member FDIC, is locally owned and operated and offers a full range of commercial, small business and agribusiness loans, cash management services and personal deposit products throughout the Central Valley of California. It is regularly rated Five Stars by Bauer Financial as one of the nation’s strongest financial institutions, and in 2017 was named to the 2017 OTCQX Best 50, a ranking of top performing companies traded on the OTCQX Best Market. It is a Preferred Lender with the Small Business Administration and its stock can be purchased on the open market, trading on the OTCQX under the ticker symbol SBKK. For all other information, visit www.suncrestbank.com

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