Sutter Community Bnk (SUTB) 8.3500 $SUTB
Suncrest Bank completes merger of Sutter Community Bank
M2 - Thu Dec 17, 5:43AM CST
Suncrest Bank (OTCQX: SBKK) said the merger of Sutter Community Bank (OTC Pink: SUTB) with and into Suncrest Bank has been completed, effective December 11, 2015. The acquisition, which was first announced on June 25, 2015, was concluded following receipt of shareholder approval for the transaction from the shareholders of Sutter Community Bank and all required regulatory approvals. As of September 30, 2015, Sutter Community Bank had USD68.3 million in assets and Suncrest Bank had USD218.0 million in assets. As of September 30, 2015, on a pro forma combined basis with Sutter Community Bank, Suncrest Bank had approximately USD286.3 million in assets. In the transaction, Suncrest Bank is issuing an aggregate of approximately 1,144,414 shares of Suncrest Bank common stock to Sutter Community Bank shareholders. Based on the closing price of Suncrest Bank's common stock on December 11, 2015 of USD7.35 per share, the aggregate consideration payable to Sutter Community Bank common shareholders is approximately USD8.4 million. Two former members of the Sutter Community Bank board of directors, Daniel C. Jacuzzi and Matthew Pomeroy will join the Suncrest Bank board of directors. In addition, all the former directors of Sutter Community Bank have formed a local market advisory board and will continue to be actively involved with the new 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. with the Small Business Administration.
Suncrest Bank Announces the Completion of the Merger of Sutter Community Bank into Suncrest Bank
PR Newswire - Mon Dec 14, 8:00AM CST
Suncrest Bank (OTCQX: SBKK) today announced that the merger of Sutter Community Bank (OTC Pink: SUTB) with and into Suncrest Bank was completed on December 11, 2015.
Suncrest Bank To Acquire Sutter Community Bank
PR Newswire - Mon Jul 27, 7:55AM CDT
Suncrest Bank (OTCQX:SBKK) and Sutter Community Bank (OTCPink:SUTB) today announced that they have entered into a definitive agreement whereby Sutter Community Bank will merge with Suncrest Bank in an all-stock deal, valued at approximately $9.4 million. The transaction combines two of the leading agribusiness focused community banks located in California's North and South Central Valley, with approximately $300 million in combined assets.
Suncrest Bank completes merger of Sutter Community Bank
M2 - Thu Dec 17, 5:43AM CST
Suncrest Bank (OTCQX: SBKK) said the merger of Sutter Community Bank (OTC Pink: SUTB) with and into Suncrest Bank has been completed, effective December 11, 2015. The acquisition, which was first announced on June 25, 2015, was concluded following receipt of shareholder approval for the transaction from the shareholders of Sutter Community Bank and all required regulatory approvals. As of September 30, 2015, Sutter Community Bank had USD68.3 million in assets and Suncrest Bank had USD218.0 million in assets. As of September 30, 2015, on a pro forma combined basis with Sutter Community Bank, Suncrest Bank had approximately USD286.3 million in assets. In the transaction, Suncrest Bank is issuing an aggregate of approximately 1,144,414 shares of Suncrest Bank common stock to Sutter Community Bank shareholders. Based on the closing price of Suncrest Bank's common stock on December 11, 2015 of USD7.35 per share, the aggregate consideration payable to Sutter Community Bank common shareholders is approximately USD8.4 million. Two former members of the Sutter Community Bank board of directors, Daniel C. Jacuzzi and Matthew Pomeroy will join the Suncrest Bank board of directors. In addition, all the former directors of Sutter Community Bank have formed a local market advisory board and will continue to be actively involved with the new 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. with the Small Business Administration.
Suncrest Bank Announces the Completion of the Merger of Sutter Community Bank into Suncrest Bank
PR Newswire - Mon Dec 14, 8:00AM CST
Suncrest Bank (OTCQX: SBKK) today announced that the merger of Sutter Community Bank (OTC Pink: SUTB) with and into Suncrest Bank was completed on December 11, 2015.
Suncrest Bank To Acquire Sutter Community Bank
PR Newswire - Mon Jul 27, 7:55AM CDT
Suncrest Bank (OTCQX:SBKK) and Sutter Community Bank (OTCPink:SUTB) today announced that they have entered into a definitive agreement whereby Sutter Community Bank will merge with Suncrest Bank in an all-stock deal, valued at approximately $9.4 million. The transaction combines two of the leading agribusiness focused community banks located in California's North and South Central Valley, with approximately $300 million in combined assets.
