Suncrest Bank Hires Top Lending Team

VISALIA, Calif., May 13, 2015 /PRNewswire/ -- Following the recent announcement that it has raised $13.5 million in new capital, Suncrest Bank (OTCQX: SBKK) today announced that it has hired three new loan officers to focus on Agribusiness, Large Commercial Loans and the Hispanic Business Community.

Mr. Mike Flynn joins Suncrest as Manager of its Agribusiness Division focused on developing the bank's farming and agriculture portfolio throughout the San Joaquin Valley. Mike comes with a wealth of Ag Industry experience having previously held positions with Bank of the West's Agribusiness Group, Tomen Agro (now Arvesta Agricultural Chemicals) and Wells Fargo.

Mr. Scott Quatacker has been appointed as Commercial Banking Manager for the Porterville Market where he joins a highly successful team. Scott was born and raised in Porterville, knows the local business community very well and will be focused on building the bank's commercial portfolio across all sectors. He previously held positions with Central Valley Community Bank and Bank of the Sierra.

Mr. Cesar Gutierrez joins Suncrest as Commercial Banking Manager covering the Visalia and Fresno Markets in particular but with a remit to grow the commercial lending portfolio throughout the South Valley. Cesar will also focus on developing the bank's profile and networks within the Hispanic Business Community. He previously held positions at Bank of the Sierra and Banco Popular.

"The addition of these highly talented and experienced new Managers reflects Suncrest's commitment to continued growth in our local markets, and our increased lending capacity," said Mr. Ciaran McMullan, President and Chief Executive Officer. "Following our highly successful recent capital raise we are now able to offer loans up to $8 million to qualified borrowers, thereby significantly expanding the business we can confidently go after," said McMullan.

During 2014 Suncrest Bank grew its total assets by over 49% and its loan portfolio by 33%, and is rapidly becoming one of central California's banking success stories, being in the top 1.5% of fastest growing banks in the country in 2014.

About Suncrest Bank
Suncrest Bank, member FDIC, is locally owned and operated and offers a full range of business, agribusiness and personal deposit products and loans in the California's Central Valley. It has branches in Visalia and Porterville. It is regularly rated Five Stars by Bauer Financial and is dedicated to providing a high level of personal service, and to supporting the communities which it serves. It is also a Preferred Lender with the Small Business Administration. Suncrest Bank stock trades on the OTCQX under the ticker symbol SBKK. For further 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

Related Links

http://www.suncrestbank.com