August 11,2015-
Visalia-based Suncrest Bank has been busy lately opening a branch in Kingsburg, buying Sutter Community Bank and also raising $13.4 million in new capital. Now the fast growing bank will relocate its main branch and corporate office from Center Street to a prominent location at 501 Main Street around the end of the year says CEO Ciaran McMullan. The bank first opened in Visalia in 2013.
“We had an opportunity with the closing of CitiBank in Visalia to locate our home branch in a permanent location with more space” says McMullan adding they will be purchasing as well as doing a major remodel of the building vacated by Citibank earlier this year as well as a location in Kingsburg.
Citibank closed 9 branches Valley wide in the past 6 months.
Suncrest Bank leases their current location at 400 West Center.
With the merger announced last month Suncrest Bank headquartered in Visalia, had approximately $200 million in total assets as of March 31,2015 and operated three branches in Tulare and Fresno counties. Sutter Community Bank is headquartered in Yuba City, CA, with approximately $67 million in total assets operating one branch in Sutter County.