SACRAMENTO, Calif. and VISALIA, Calif.–(PRNewswire)–Suncrest Bank (OTCQX: SBKK) (“Suncrest”) and CBBC Bancorp (OTCBB: CBBC) (“CBBC”), the parent company of Community Business Bank, today announced that they have received all necessary regulatory approvals to complete their proposed merger. The anticipated closing date of the merger is May 21st 2018.
“We are looking forward to completing this transformational deal and welcoming both Mr. John DiMichele and Mr. Chad Meyer to the Suncrest Bank Board of Directors,” said Mr. Ciaran McMullan, President and CEO of Suncrest Bank. “Their deep experience and knowledge of the Community Business Bank markets and customer base will help ensure a smooth transition and continued growth in the Greater Sacramento and Lodi markets.”
“We are excited to bring our two strong banks together and both Chad and I look forward to joining the Suncrest Board and continuing to play an important role in the ongoing development of our combined organizations,” said John A. DiMichele, Chief Executive Officer of CBBC.