Visalia, Calif.-based Suncrest Bank closed its planned acquisition of West Sacramento, Calif.-based CBBC Bancorp, following the receipt of all necessary regulatory approvals.
According to CBBC Bancorp unit Community Business Bank's website, Community Business Bank is now a division of Suncrest Bank.
Additionally, Suncrest Bank said it completed a private placement of $25.0 million of the bank's common stock. MJC Partners LLC served as the sole placement agent for the offering.
