VISALIA, Calif., Aug. 7, 2017 /PRNewswire/ -- Suncrest Bank (OTCQX: SBKK) today announced that John Alcorn has joined the Company to lead its Agribusiness Division in Fresno, Calif.
"John brings over 35 years' experience in both agribusiness banking and hands-on farm management. His appointment reflects our continuing commitment to the Central Valley's agricultural sector", said Ciaran McMullan, President and CEO of Suncrest Bank. "Accurately underwriting agricultural credit in California requires both technical industry knowledge as well as experience of multiple cycles in commodity prices and land values, across a wide variety of crop types." McMullan added. "John's deep knowledge of these cycles makes him a highly qualified addition to our Agribusiness team."
Fresno Market President Jennette Williams said, "We are delighted to have someone with John's know-how join our Fresno team". Williams continued, "Fresno County is regularly ranked one the highest ag-producing counties in the US, and is a great market for Suncrest to grow its farm lending portfolio."
Prior to joining Suncrest Bank, John led the Field Inspection Department for the Western United States, for Rabobank. He held various roles in that Division between 2005 and 2017. Prior to joining Rabobank, he was a Loan Officer with Anderson Clayton Corporation, and prior to that he held various farm management roles including Almond Crop Manager for Harris Farms and Ranch Manager for Clark Brothers.
John holds a BS Degree in Ag Business from California State, Fresno, together with an AS Degree in Agronomy from West Hills College. He has also completed a number of short courses in Pistachio and Almond Farm Management at U.C. Davis.
At June 30th 2017 Suncrest Bank has $485 million in total assets, $337 million in total loans and $425 million in total deposits.
About Suncrest Bank
Suncrest Bank, member FDIC, is locally owned and operated and offers a full range of commercial, small business and agribusiness loans, cash management services and personal deposit products throughout the Central Valley of California. It is regularly rated Five Stars by Bauer Financial as one of the nation's strongest financial institutions, and in 2017 was named to the 2017 OTCQX® Best 50, a ranking of top performing companies traded on the OTCQX Best Market. It is a Preferred Lender with the Small Business Administration and its stock can be purchased on the open market, trading on the OTCQX under the ticker symbol SBKK. For all other information, visit www.suncrestbank.com.
Forward Looking Statements
Except for the historical information in this news release, the matters described herein contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are subject to risks and uncertainties that could cause actual results to differ materially. Such risks and uncertainties include: the credit risks of lending activities, including changes in the level and trend of loan delinquencies and charge-offs, results of examinations by our banking regulators, our ability to maintain adequate levels of capital and liquidity, our ability to manage loan delinquency rates, our ability to price deposits to retain existing customers and achieve low-cost deposit growth, manage expenses and lower the efficiency ratio, expand or maintain the net interest margin, mitigate interest rate risk for changes in the interest rate environment, competitive pressures in the banking industry, access to available sources of credit to manage liquidity, the local and national economic environment, and other risks and uncertainties. Accordingly, undue reliance should not be placed on forward-looking statements. These forward-looking statements speak only as of the date of this release. Suncrest Bank undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. Investors are encouraged to read the Suncrest Bank annual reports which are available on our website.
SOURCE Suncrest Bank