published on February 1, 2017 - 6:38 AM
Written by The Business Journal Staff

Visalia’s Suncrest Bank announced fourth quarter 2016 earnings of $110,000, down from $265,000 in the same quarter of 2015.


The drop is due to expenses associated with the December 2016 acquisition of Fresno’s Security First Bank.

“We are pleased to have completed our second acquisition in a year, following our acquisition of Sutter Community Bank in December 2015,” said Ciaran McMullan, president and CEO of Suncrest Bank. “We are also pleased to report significantly improved earnings and return on average assets through 2016, reflecting our commitment to not only grow the balance sheet but to steadily improve our profitability at the same time.”

The bank’s total assets on Dec. 31, 2016 were $448 million, compared to $297 million at the same period of 2015.


e-Newsletter Signup

Our weekly poll

Do you agree with Gov. Newsom's decision to tighten lockdown restrictions?

Loading ... Loading ...

Central Valley Biz Blogs

Popup
shares

3/5

Article views

remaining

Sign up icon

To continue website access to

TheBusinessJournal.com

please create a FREE account OR login here.

1/5

Article views

remaining

SKIP THE POP-UPS
For only $59 for one 1-year you will receive the Print edition along with EVERYTHING The Business Journal has to offer digitally, PLUS you will have unlimited 24- hour a day access to view articles at

TheBusinessJournal.com

Use Promo Code

*New Subscribers Only

Digital and Print

XX Days Remaining

until you can view 5 more free articles

Sign up icon

Want access? Subscribe now & save $20 OFF.

Use Promo Code

WEBSUB20

* NEW SUBSCRIBERS ONLY