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Regulators approve Suncrest Bank/CBBC Bancorp deal

Visalia, Calif.-based Suncrest Bank's pending acquisition of West Sacramento, Calif.-based CBBC Bancorp has received all necessary regulatory approvals.

The two companies expect to complete the merger on May 21.

The deal, which is valued at approximately $62.5 million, would create a community bank with about $900 million in assets in central California.

Upon completion, Suncrest Bank President and CEO Ciaran McMullan said CBBC Bancorp Vice Chairman and CEO John DiMichele and President Chad Meyer will join Suncrest Bank's board.