M&A Deal Summary

Citizens Business Bank Acquires Suncrest Bank

On July 27, 2021, Citizens Business Bank acquired financial services company Suncrest Bank for 204M USD

Acquisition Highlights
  • This is Citizens Business Bank’s 9th transaction in the Financial Services sector.
  • This is Citizens Business Bank’s largest (disclosed) transaction.
  • This is Citizens Business Bank’s 9th transaction in the United States.
  • This is Citizens Business Bank’s 8th transaction in California.

M&A Deal Summary
Date 2021-07-27
Target Suncrest Bank
Sector Financial Services
Buyer(s) Citizens Business Bank
Deal Type Merger
Deal Value 204M USD
Advisor(s) MJC Partners LLC (Financial)
Sheppard Mullin Richter & Hampton LLP (Legal)

Target

Suncrest Bank

Visalia, California, United States
website
Suncrest Bank offers a full range of commercial, small business, and agribusiness loans, cash management services, and personal deposit products throughout the Central Valley of California and the Greater Sacramento Region. Suncrest Bank was formed in 2008 and is based in Visalia, California.

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Buyer(S) 1

Buyer

Citizens Business Bank

Ontario, California, United States

website

Category Company
Founded 1974
Sector Financial Services
Employees1,072
Revenue 556M USD (2022)
DESCRIPTION

Citizens Business Bank holding company for citizens business bank provides financial services. Citizens Business Bank was incorporated in 1974 and is based in Ontario, California.

DEAL STATS #
Overall 9 of 9
Sector (Financial Services) 9 of 9
Type (Merger) 3 of 3
State (California) 8 of 8
Country (United States) 9 of 9
Year (2021) 1 of 1
Size (of disclosed) 1 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-22 Valley Commerce Bancorp.

Visalia, California, United States

Valley Commerce Bancorp. serve as the holding company and sole shareholder of Valley Business Bank. Valley Business Bank is a California state-chartered commercial bank that commenced operations in 1996. The Bank offers a full range of commercial banking services and maintains its headquarters and two branch offices in Tulare County and one branch in Fresno County. The bank is a member of the FDIC, an SBA Preferred Lender, and a CDARS depository institution. Valley Business Bank provides exceptional service to local businesses, through the participation of successful business persons with a strong understanding of the local market.

Buy $57M
Mergr

Product

Company

Legal