Visalia’s Suncrest Bank finalizes merger with Yuba bank

Suncrest Bank in Visalia and Yuba City-based Sutter Community Bank finalized a merger Tuesday valued at about $8.4 million in Suncrest stock.

The merger was announced in June, and in the intervening months the deal was approved by both banks’ boards of directors and banking regulators. As part of the merger, two former Sutter Community board members are joining Suncrest’s board. Other Sutter board members are now part of an advisory board for the Yuba and Sutter county market as part of the enlarged Suncrest organization.

As of the third quarter of the year, Suncrest Bank had about $218 million in assets, compared with about $68.3 million for Sutter Community. Sutter stock formerly traded on the OTC Pink bulletin board.

Suncrest Bank stock is traded on the OTCQX over-the-counter board under the stock symbol SBKK. The company’s shares closed Tuesday at $7 per share, unchanged since the beginning of this month.

This story was originally published December 15, 2015 at 1:25 PM with the headline "Visalia’s Suncrest Bank finalizes merger with Yuba bank."