Written by The Business Journal Staff
Visalia-based Suncrest Bank announced it has received regulatory approval for its merger with Security First Bank in Fresno.
The transaction combines two local community banks with $457 million in combined assets.
“We are delighted to have received the requisite regulatory approvals at this time and look forward to completing our merger prior to the end of the year,” said Ciaran McMullan, president and CEO of Suncrest Bank.
The combined bank will operate a total of five branches under the Suncrest Bank name.
Announced in September, the cash and stock deal was valued at $18.1 million.