Suncrest Bank takes over former Citibank branch in Kingsburg

The former Citibank branch in Kingsburg — one of seven branches closed by the banking giant in the central San Joaquin Valley earlier this year — is now home to Visalia-based Suncrest Bank.

The office at 1580 Draper St. is Suncrest’s third branch after its offices in Visalia and Porterville, and is the bank’s first branch in Fresno County. The Suncrest opening in Kingsburg was announced Monday. Suncrest president/CEO Ciaran McMullan described Kingsburg as “an ideal fit with Suncrest’s growth strategy,” citing the city’s growth in both population and median income. According to U.S. Census Bureau estimates, Kingsburg has a population of about 11,700 and a median family income of about $62,000 per year, compared to a countywide median income of just under $51,000 a year in Fresno County and $45,500 in neighboring Tulare County.

As of June 2014, before it closed, the Citibank branch in Kingsburg had about $33.8 million in deposits, the Federal Deposit Insurance Corporation reported. Suncrest reported more than $97.8 million in deposits at its Visalia branch and $44.8 million at its Porterville branch, the FDIC reported.

This story was originally published June 22, 2015 at 12:42 PM with the headline "Suncrest Bank takes over former Citibank branch in Kingsburg."