Suncrest Bank in Visalia reported a profit of $110,000 for the fourth quarter of 2016, bringing its full-year net income to more than $1.7 million.
The company issued its earnings report on Tuesday. It’s the first financial report since Suncrest completed its acquisition of Fresno’s Security First Bank in December. The fourth-quarter and full-year income figures reflect the effects of about $725,000 in one-time expenses related to the Security First deal. Even with those expenses, however, Suncrest’s full-year earnings grew from about $909,000 in 2015.
The acquisition boosted Suncrest’s total assets to about $448 million, compared to about $297 million at the end of 2015.