Suncrest Bank Reports Second Quarter Earnings. Return on Average Tangible Equity of 14%. Annualized non-PPP loan growth of 20%.

SACRAMENTO, Calif. and VISALIA, Calif., July 30, 2021 /PRNewswire/ -- Suncrest Bank (OTCQX: SBKK) today reported unaudited financial results for the second quarter of 2021.

"We have continued to see exceptionally strong organic balance sheet growth through the second quarter, with non-PPP loans increasing by 5% over the linked quarter and total deposits increasing by almost 4%," said Ciaran McMullan, President and CEO of Suncrest Bank. "This impressive performance is a reflection of the high quality of our relationship management teams and the outstanding support they receive from the entire organization." 

"On July 27^th we announced our intention to merge with Citizens Business Bank, one of the country's top performing banks, and we look forward to completing the merger later this year or early next year," McMullan added.

Second Quarter 2021 Highlights

• Announced agreement to merge with CVB Financial Corp. on July 27, 2021
• Net income of $4.5 million, an increase of $1.8 million over Q2 2020
• Diluted EPS of $0.36, an increase of 63.6% over Q2 2020
• Total loan growth (excluding PPP) of $35.2 million or 4.88% (19.5% annualized)
• New originations¹ (excluding PPP) of $71.0 million
• Total deposits (excluding brokered) increased $40.5 million or 3.66% (14.62% annualized)
• Return on average tangible assets of 1.37%
• Return on average tangible equity of 14.10%
• Efficiency ratio of 50.83%
• Tier 1 leverage ratio of 9.45%

1	Includes unfunded commitments

Income Statement

Net income for the quarter was $4.5 million compared to $4.0 million for the linked quarter and $2.69 million for the same quarter last year. The increase over the linked quarter is primarily due to an increase in fees and interest on loans and securities. The increase over the second quarter of 2020 is mostly driven by an increase in net interest income and the reduction in provision for loan losses, partially offset by an increase in noninterest expense.

Interest income increased to $12.5 million versus $11.5 million for the linked quarter and increased from $10.6 million compared to the second quarter of 2020. The increase over the linked quarter is primarily a result of an increase in the loan yield from 4.62% in the linked quarter to 4.80% for the quarter ended June 30, 2021. Interest expense declined to $490,000 as compared to $518,000 over the linked quarter due to a decline in our cost of funds to 17 basis points (bps) from 19 bps last quarter.  In addition, the decrease in interest expense was $261,000 over the same quarter last year due to a decline in our cost of funds by 12 basis points.

Included in interest income are fees earned on Paycheck Protection Program ("PPP") Loans of approximately $764,000 in the second quarter versus $704,000 in the linked quarter and $399,000 in the second quarter of 2020.  

Net interest Margin (NIM) improved to 3.82% compared to 3.68% for the linked quarter. NIM improved over the same quarter last year primarily due to the decrease in the cost of funds by 12 basis points. Yield on loans improved to 4.80% in Q2 from 4.62% for the linked quarter. Excluding PPP loans, our NIM would have been 3.87% in Q2 compared to 3.81% for the linked quarter and loan yield would have been 5.07% in Q2 compared to 4.99% for the linked quarter.

Total noninterest expense increased over the linked quarter by 6.3% or $377,000, and increased over the same quarter last year by approximately $1.0 million. The increase over the linked quarter was a result of an increase in salaries and employee benefits expense by $169,000 or 5.0% and an increase in other noninterest expense of $201,000 or 9.9%.  The increase over the same quarter last year is predominantly a result of the recruitment of new employees in primarily customer facing roles. However, despite this level of recruitment we continue to maintain our key expense ratios at consistently low levels with efficiency ratio being 50.83% in Q2 while our burden ratio and noninterest expense to average assets were 1.75% and 1.89% respectively.

Balance Sheet

Total assets at June 30, 2021 increased to $1.37 billion as compared to $1.34 billion for the linked quarter.  The increase was $33.8 million or 2.5% as a result of an increase in total investment securities of $31.3 million and were funded by an increase in deposits.  Total assets increased $85.5 million or 6.6% over the same quarter last year as a result of an increase in loans of $64.2 million.  Investment Securities increased $123.4 million over the same quarter last year and were funded by an increase in deposits. 

Total deposits (excluding brokered deposits) at June 30, 2021 were $1.147 billion, an increase of $40.5 million or 3.66% over the linked quarter. Total deposits (excluding brokered deposits) increased year over year by $97.9 million or 9.34%.

During the quarter ended March 31, 2021 the bank acquired $60.0 million in low cost brokered deposits to partially fund PPP loans and pay down advances from the Federal Home Loan Bank. Brokered deposits at June 30, 2021 were $45.0 million. 

Total loans at June 30, 2021 were $868.8 million, an increase of $5.5 million over the linked quarter. Total loans (excluding PPP loans) increased by $35.2 million or 4.88% over the linked quarter. Total PPP loans were $111.3 million at June 30, 2021 compared to $141.0 million at March 31, 2021.

PPP Loan Forgiveness and PPP Round Two

To date, over 95% of our PPP Round One customers have started the forgiveness process and $69 million has been forgiven. We completed PPP Round Two with 244 loans totaling $48.6 million. 

We have continued to track new business generated as a result of the approximately 190 new customers acquired through both PPP Round One and Round Two. To date, approximately 43% of these customers have established additional non-PPP related business with the bank, including approximately $30 million in new deposits (exclusive of PPP funds) and approximately $24.0 million in new loan commitments together with an additional $15.7 million in the pipeline. 

Asset Quality 

Non-performing assets decreased to $4.8 million or 0.35% of total assets at June 30, 2021 compared to 0.37% at March 31, 2021.

Based on our standard analysis of portfolio trends and considerations for improving economic conditions of our primary industries, we determined a provision for loan losses was not required for the quarter. As a result, our allowance as a percentage of total loans (excluding both PPP and acquired loans) declined to 1.36% at June 30, 2021 compared to 1.49% at March 31, 2021. 

At the end of the second quarter, three loans in the amount of $2.7 million remain in our loan payment deferral program.  Two of these loans, in the amount of $2.5 million, resumed payments in July 2021, with the remaining loan of approximately $200,000 scheduled to start payments by the end of the third quarter.

Per the table below, both classified accrual and classified nonaccrual loans declined through the quarter. As a result, total classified loans as a percentage of total loans declined to 1.44%, or 1.65% excluding PPP loans.

	Q2 2021	Q1 2021	Q4 2020	Q3 2020
Total Classified Loans (a)	$12,533,580	$12,928,681	$12,928,632	$14,370,053
Classified - Accrual Loans	$7,864,816	$8,166,865	$9,176,720	$10,111,838
Classified - Non-Accrual Loans	$4,668,764	$4,761,816	$3,751,912	$4,258,215
Total Classified / Total Loans	1.44%	1.50%	1.58%	1.78%
Total Classified / Total Loans (excluding PPP)	1.65%	1.79%	1.84%	2.12%

(a)	Includes classified accrual loans and non-accrual loans

Capital

Suncrest Bank remained well capitalized at June 30, 2021. All of the bank's capital ratios are above minimum regulatory standards for "well capitalized" institutions.

At June 30, 2021 tangible book value per common share was $10.72 with common shares issued of 12,249,500 as of the same date.

About Suncrest Bank
Suncrest Bank, member FDIC, 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. It is regularly rated Five Stars by Bauer Financial as one of the nation's strongest financial institutions, and in 2017 and 2018 was named to the 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.

 

Suncrest Bank
Statements of Financial Condition
(Unaudited)
		June 30,		March 31,		June 30,
		2021		2021		2020
ASSETS
Cash and Due from Banks		$               15,578,565		$               24,078,595		$               13,228,364
Federal Funds Sold		41,425,000		36,984,000		142,930,000
TOTAL CASH AND CASH EQUIVALENTS		57,003,565		61,062,595		156,158,364
Investment Securities Available for Sale (AFS)		379,724,228		348,379,719		256,315,062
Loans:
Total Loans		868,818,328		863,343,343		804,668,120
Allowance for Loan Losses		(8,502,239)		(8,503,654)		(7,261,565)
NET LOANS		860,316,089		854,839,689		797,406,555
Federal Home Loan Bank and Other Bank Stock, at Cost		5,366,684		4,907,984		5,862,141
Premises and Equipment		5,990,719		6,071,861		6,465,203
Other Real Estate Owned		-		129,644		129,644
Bank Owned Life Insurance		8,835,996		8,779,315		8,607,800
Goodwill		38,989,566		38,989,566		38,989,566
Core Deposit Intangible		2,232,796		2,378,513		2,844,243
Accrued Interest and Other Assets		13,524,738		12,676,878		13,738,199
		$           1,371,984,381		$           1,338,215,764		$           1,286,516,777
LIABILITIES AND SHAREHOLDERS' EQUITY
Deposits:
Noninterest-bearing Demand		$             528,012,539		$             490,584,958		$             462,020,939
Savings, NOW and Money Market Accounts		552,252,423		545,695,354		510,478,265
Time Deposits - Retail		66,582,888		70,117,424		76,411,399
Time Deposits - Wholesale		45,000,000		60,000,000		-
TOTAL DEPOSITS		1,191,847,850		1,166,397,736		1,048,910,603
Accrued Interest and Other Liabilities		7,621,556		7,762,743		7,503,426
Other Borrowings		-		-		68,559,008
TOTAL LIABILITIES		1,199,469,406		1,174,160,479		1,124,973,037
Shareholders' Equity:
Common Stock - No par value		118,199,166		118,164,166		119,676,119
Additional Paid-in Capital		3,741,305		3,584,198		3,201,835
Retained Earnings		42,624,814		38,137,566		29,635,334
Accumulated Other Comprehensive Income - Net
Unrealized Gain on Securities AFS		7,949,690		4,169,355		9,030,452
TOTAL SHAREHOLDERS' EQUITY		172,514,975		164,055,285		161,543,740
		$           1,371,984,381		$           1,338,215,764		$           1,286,516,777

 

Suncrest Bank
Statements of Income (Unaudited)
For the Three Months Ended
		June 30,		March 31,		June 30,
		2021		2021		2020
INTEREST INCOME
Interest and Fees on Loans		$       10,334,296		$         9,467,855		$         9,043,344
Interest on Investment Securities		2,184,839		2,045,420		1,533,208
Interest on Federal Funds Sold and Other		13,995		15,020		31,418
TOTAL INTEREST INCOME		12,533,130		11,528,295		10,607,970
INTEREST EXPENSE
Interest on Savings Deposits, NOW and Money Market Accounts		397,994		398,520		492,277
Interest on Time Deposits - Retail		80,198		103,959		221,256
Interest on Time Deposits - Wholesale		11,342		9,947		-
Interest on Other Borrowings		-		5,302		36,923
TOTAL INTEREST EXPENSE		489,534		517,728		750,456
NET INTEREST INCOME		12,043,596		11,010,567		9,857,514
Provision for Loan Losses		-		-		1,200,000
NET INTEREST INCOME AFTER
PROVISION FOR LOAN LOSSES		12,043,596		11,010,567		8,657,514
NONINTEREST INCOME
Service Charges, Fees, and Other Income		438,819		462,797		320,080
Gain on Sale of Loans		28,273		-		-
		467,092		462,797		320,080
NONINTEREST EXPENSE
Salaries and Employee Benefits		3,536,175		3,366,927		2,910,755
Occupancy Expenses		591,437		584,405		570,479
Other Expenses		2,231,227		2,030,726		1,867,817
		6,358,839		5,982,058		5,349,051
INCOME BEFORE INCOME TAXES		6,151,849		5,491,306		3,628,543
Income Taxes		1,664,600		1,486,700		939,700
NET INCOME		$          4,487,249		$          4,004,606		$          2,688,843

 

Suncrest Bank
Statements of Income (Unaudited)
For the Six Months Ended
		June 30,		June 30,
		2021		2020
INTEREST INCOME
Interest and Fees on Loans		$            19,802,150		$       18,354,911
Interest on Investment Securities		4,230,259		2,818,901
Interest on Federal Funds Sold and Other		29,016		293,797
TOTAL INTEREST INCOME		24,061,425		21,467,609
INTEREST EXPENSE
Interest on Savings Deposits, NOW and Money Market Accounts		796,515		1,400,025
Interest on Time Deposits - Retail		184,156		458,787
Interest on Time Deposits - Wholesale		21,289		-
Interest on Other Borrowings		5,302		36,923
TOTAL INTEREST EXPENSE		1,007,262		1,895,735
NET INTEREST INCOME		23,054,163		19,571,874
Provision for Loan Losses		-		2,300,000
NET INTEREST INCOME AFTER
PROVISION FOR LOAN LOSSES		23,054,163		17,271,874
NONINTEREST INCOME
Service Charges, Fees, and Other Income		901,616		770,270
Gain on Sale of Loans		28,273		-
		929,889		770,270
NONINTEREST EXPENSE
Salaries and Employee Benefits		6,903,102		5,951,922
Occupancy Expenses		1,175,841		1,158,466
Other Expenses		4,261,954		3,799,411
		12,340,897		10,909,799
INCOME BEFORE INCOME TAXES		11,643,155		7,132,345
Income Taxes		3,151,300		1,558,600
NET INCOME		$               8,491,855		$          5,573,745

 

Suncrest Bank
Selected Financial Data & Ratios (Unaudited)
		June 30,		March 31,		June 30,
		2021		2021		2020
For the three months ended:
Return on Average Assets(ROAA)		1.33%		1.24%		0.90%
Return on Average Tangible Assets (1)		1.37%		1.28%		0.93%
Return on Average Equity(ROAE)		10.65%		9.52%		6.83%
Return on Average Tangible Equity (1)		14.10%		12.62%		9.31%
Noninterest Expense (NIE) To Average Assets		1.89%		1.85%		1.79%
Efficiency Ratio		50.83%		52.14%		52.56%
Burden Ratio		1.75%		1.71%		1.68%
Net Interest Margin		3.82%		3.68%		3.56%
Cost of Funds		0.17%		0.19%		0.29%
Basic Earnings Per Share (EPS)		$               0.37		$                 0.33		$               0.22
Diluted EPS		$               0.36		$                 0.32		$               0.22
		June 30,		June 30,
		2021		2020
For the six months ended:
Return on Average Assets(ROAA)		1.29%		1.01%
Return on Average Tangible Assets (1)		1.33%		1.05%
Return on Average Equity(ROAE)		10.08%		7.20%
Return on Average Tangible Equity (1)		13.35%		9.87%
Noninterest Expense (NIE) To Average Assets		1.73%		1.97%
Efficiency Ratio		51.45%		53.63%
Burden Ratio		1.73%		1.83%
Net Interest Margin		3.75%		3.83%
Cost of Funds		0.18%		0.40%
Basic Earnings Per Share (EPS)		$               0.69		$                 0.45
Diluted EPS		$               0.68		$                 0.45
(1)  These non-GAAP measures have inherent limitations, are not required to be uniformly applied and are not audited.  They should not be
considered in isolation or as a substitute for analyses of results reported under GAAP.  These non-GAAP measures may not be
comparable to similarly titled measures reported by other companies.

 

Suncrest Bank
Selected Financial Data & Ratios Continued (Unaudited)
		June 30,		March 31,		June 30,
		2021		2021		2020
At Period End:
Loans to Deposits		72.90%		74.02%		76.71%
Average Loans to Average Deposits (QTD)		73.64%		75.33%		76.80%
Non-Performing Assets to Assets		0.35%		0.37%		0.34%
Outstanding Shares		12,249,500		12,244,500		12,443,800
Tangible Book Value Per Share (1)		$                   10.72		$                   10.02		$                     9.62
Tangible Book Value Per Share excluding Unrealized Gain on Securities (1)		$                   10.07		$                     9.68		$                     8.90
Book Value Per Share		$                   14.08		$                   13.40		$                   12.98
Regulatory Capital Ratios
Tier 1 Leverage (to average assets)		9.45%		9.52%		9.93%
Common Equity Tier 1 Capital (to risk weighted assets)		13.86%		13.49%		12.68%
Tier 1 Capital (to risk weighted assets)		13.86%		13.49%		12.68%
Total Capital (to risk weighted assets)		14.84%		14.47%		13.52%
		June 30,		March 31,		June 30,
		2021		2021		2020
Loan Composition
Commercial and Industrial:		$          39,134,449		$          39,296,132		$          48,655,792
Paycheck Protection Program:		111,280,895		141,027,050		128,358,805
Loans to Finance Agricultural Production and Other Loans to Farmers:		40,194,038		36,232,968		36,941,792
Loans Secured by Real Estate:
Secured by Farmland		130,397,870		130,049,625		139,799,353
Construction, Land Development and Other Land		21,182,675		17,563,918		28,680,776
1-4 Family Residential Properties		53,532,531		49,352,950		41,713,258
Multifamily Residential Properties		49,661,004		45,613,795		45,975,886
Owner Occupied Nonresidential Properties		110,743,084		100,153,512		93,341,233
Non-Owner Occupied Nonresidential Properties		293,982,408		284,934,220		222,079,538
Total Loans Secured by Real Estate		659,499,572		627,668,020		571,590,044
Municipal Leases:		18,584,601		18,992,033		18,961,522
Other Loans:		124,773		127,140		160,165
Total Loans		$        868,818,328		$        863,343,343		$        804,668,120
(1)  These non-GAAP measures have inherent limitations, are not required to be uniformly applied and are not audited.  They
should not be considered in isolation or as a substitute for analyses of results reported under GAAP.  These non-GAAP
measures may not be comparable to similarly titled measures reported by other companies.

 

Suncrest Bank
Average Balance Sheet and Yields (Unaudited)
For the Three Months Ended
		June 30, 2021						March 31, 2021
		Average				Average		Average				Average
		Balance		Interest		Yield/Rate		Balance		Interest		Yield/Rate
Interest Earning Assets:
Deposits in Other Financial Institutions		$      35,405,889		$      13,995		0.16%		$      41,700,915		$        15,020		0.15%
Investment Securities		367,244,025		2,184,839		2.38%		341,085,867		2,045,420		2.40%
Loans		862,921,793		10,334,296		4.80%		831,170,385		9,467,855		4.62%
Total Interest Earning Assets		1,265,571,707		12,533,130		3.97%		1,213,957,167		11,528,295		3.85%
Noninterest Earning Assets		82,474,013						77,681,839
Total Assets		$ 1,348,045,720						$ 1,291,639,006
Interest Bearing Liabilities
Interest Bearing Transaction Accounts		$    158,481,231		171,063		0.43%		$    151,769,243		157,853		0.42%
Savings and Money Market Accounts		400,437,784		226,931		0.23%		374,486,058		240,667		0.26%
Time Deposits - Retail		69,314,072		80,198		0.46%		72,120,869		103,959		0.58%
Time Deposits - Wholesale		49,120,942		11,342		0.09%		42,666,763		9,947		0.09%
Total Interest Bearing Deposits		677,354,029		489,534		0.29%		641,042,933		512,426		0.32%
Other Borrowings and FLHB Advances		-		-		0.00%		11,674,122		5,302		0.18%
Total Interest Bearing Liabilities		677,354,029		489,534		0.29%		652,717,055		517,728		0.32%
Noninterest Bearing Transaction Accounts		494,517,122						462,363,367
Total Funding Sources		1,171,871,151						1,115,080,422
Noninterest Bearing Liabilities		7,664,587						8,248,395
Shareholders' Equity		168,509,982						168,310,189
Total Liabilities and Shareholder's Equity		$ 1,348,045,720						$ 1,291,639,006
Net Interest Income				$12,043,596						$ 11,010,567
Net Interest Margin						3.82%						3.68%

 

Suncrest Bank
Average Balance Sheet and Yields (Unaudited)
For the Three Months Ended
		June 30, 2021						June 30, 2020
		Average				Average		Average				Average
		Balance		Interest		Yield/Rate		Balance		Interest		Yield/Rate
Interest Earning Assets:
Deposits in Other Financial Institutions		$      35,405,889		$      13,995		0.16%		$    104,997,550		$        31,418		0.12%
Investment Securities		367,244,025		2,184,839		2.38%		248,509,748		1,533,208		2.47%
Loans		862,921,793		10,334,296		4.80%		761,220,714		9,043,344		4.78%
Total Interest Earning Assets		1,265,571,707		12,533,130		3.97%		1,114,728,012		10,607,970		3.83%
Noninterest Earning Assets		82,474,013						81,563,032
Total Assets		$ 1,348,045,720						$ 1,196,291,044
Interest Bearing Liabilities
Interest Bearing Transaction Accounts		$    158,481,231		171,063		0.43%		$    142,036,914		114,631		0.32%
Savings and Money Market Accounts		400,437,784		226,931		0.23%		361,680,471		377,646		0.42%
Time Deposits - Retail		69,314,072		80,198		0.46%		78,902,446		221,256		1.13%
Time Deposits - Wholesale		49,120,942		11,342		0.09%		-		-		0.00%
Total Interest Bearing Deposits		677,354,029		489,534		0.29%		582,619,831		713,533		0.49%
Other Borrowings and FLHB Advances		-		-		0.00%		42,628,331		36,923		0.35%
Total Interest Bearing Liabilities		677,354,029		489,534		0.29%		625,248,162		750,456		0.48%
Noninterest Bearing Transaction Accounts		494,517,122						406,374,113
Total Funding Sources		1,171,871,151						1,031,622,275
Noninterest Bearing Liabilities		7,664,587						7,260,169
Shareholders' Equity		168,509,982						157,408,600
Total Liabilities and Shareholder's Equity		$ 1,348,045,720						$ 1,196,291,044
Net Interest Income				$12,043,596						$   9,857,514
Net Interest Margin						3.82%						3.56%

 

Suncrest Bank
Average Balance Sheet and Yields (Unaudited)
For the Six Months Ended
		June 30, 2021						June 30, 2020
		Average				Average		Average				Average
		Balance		Interest		Yield/Rate		Balance		Interest		Yield/Rate
Interest Earning Assets:
Deposits in Other Financial Institutions		$      38,536,012		$      29,016		0.15%		$      91,710,912		$      293,797		0.64%
Investment Securities		354,237,207		4,230,259		2.39%		225,194,510		2,818,901		2.50%
Loans		847,133,801		19,802,150		4.71%		710,213,763		18,354,911		5.20%
Total Interest Earning Assets		1,239,907,020		24,061,425		3.91%		1,027,119,185		21,467,609		4.20%
Noninterest Earning Assets		80,091,162						81,185,778
Total Assets		$ 1,319,998,182						$ 1,108,304,963
Interest Bearing Liabilities
Interest Bearing Transaction Accounts		$    155,143,778		328,916		0.43%		$    132,877,116		148,059		0.22%
Savings and Money Market Accounts		387,533,611		467,599		0.24%		357,398,709		1,251,966		0.70%
Time Deposits - Retail		70,709,717		184,156		0.53%		79,626,743		458,787		1.16%
Time Deposits - Wholesale		45,911,682		21,289		0.09%		-		-		0.00%
Total Interest Bearing Deposits		659,298,788		1,001,960		0.31%		569,902,568		1,858,812		0.66%
Other Borrowings and FLHB Advances		5,804,812		5,302		0.18%		21,314,165		36,923		0.35%
Total Interest Bearing Liabilities		665,103,600		1,007,262		0.31%		591,216,733		1,895,735		0.64%
Noninterest Bearing Transaction Accounts		478,529,067						354,816,357
Total Funding Sources		1,143,632,667						946,033,090
Noninterest Bearing Liabilities		7,954,878						7,547,105
Shareholders' Equity		168,410,637						154,724,768
Total Liabilities and Shareholder's Equity		$ 1,319,998,182						$ 1,108,304,963
Net Interest Income				$23,054,163						$ 19,571,874
Net Interest Margin						3.75%						3.83%

 

 

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SOURCE Suncrest Bank