Suncrest Bank Reports Third Quarter Earnings. Year over year organic asset growth of 9.4%.

SACRAMENTO, Calif. and VISALIA, Calif., Oct. 28, 2019 /PRNewswire/ -- Suncrest Bank SBKK today reported unaudited financial results for the third quarter of 2019.

"This quarter our total assets increased to $997 million representing a year over year organic increase of $86 million or 9.4%," said Mr. Ciaran McMullan, President and CEO of Suncrest Bank. "We continue to deliver this growth profitably and efficiently with year-to-date return on average tangible assets of 1.32% and an efficiency ratio of 53.67%."

McMullan added, "The award of an MLS franchise to Sacramento is an exciting and substantial economic opportunity for the bank and for a region that contributes over 40% of our asset base."

Third Quarter 2019 Highlights

Net income of $3.07 million
Diluted EPS of $0.24 compared to $0.22 for the linked quarter
Return on average tangible assets of 1.33%
Efficiency ratio of 52.60%
New loan originations¹ of $36.9 million
Total loans increased by $8.2 million or 1.3% over the linked quarter
Total deposits increased by $49.9 million or 6.3% over the linked quarter
Total assets increased to $997.4 million, year over year organic growth of 9.4%
Return on average tangible equity of 11.93%
Total risk-based capital ratio increased to 14.32% and Tier 1 leverage ratio decreased to 10.90%
Significant economic announcement: MLS franchise awarded to Sacramento

Income Statement

Net income increased by $246,000 or 8.7% over the linked quarter. This increase was mainly driven by a decrease of $350,000 in our provision for loan losses and a reduction in noninterest expense of $117,000 resulting in diluted earnings per share (EPS) of $0.24, with $0.01 attributable to expected discount accretion on acquired loans. Net income declined by $437,000 over the same quarter last year primarily due to significantly lower non-recurring income and increased provision for loan losses and noninterest expense.

			Non-recurring Income
Period	Net Income	NIM	Interest recoveries²	Income from accretion³	Non-recurring costs	Core Net Interest Income⁴	Core Net Income⁴	Core NIM⁴	Core Diluted EPS⁴
Q3 2019	$ 3,065,315	4.31%	$ 578	$ 197,226	$ -	$ 9,406,133	$ 2,923,315	4.22%	$ 0.23
Q2 2019	$ 2,818,869	4.60%	$ 9,338	$ 642,538	$ -	$ 9,126,198	$ 2,358,869	4.29%	$ 0.19
Q3 2018	$ 3,502,724	4.78%	$ 255,169	$ 166,167	$ -	$ 9,264,533	$ 3,207,724	4.57%	$ 0.26

Core net income, which conservatively excludes recoveries and discount accretion on acquired loans, declined over the same quarter last year by $284,000 or 8.9%. This was driven primarily by an increase in salaries and employee benefit costs, which are discussed below.

Core net interest income increased over the linked quarter and same quarter last year by $280,000 or 3.1% and $142,000 or 1.5% respectively. These increases are primarily explained by an increase in average earning assets partially offset by a decrease in core net interest margin (NIM).

Core NIM was 4.22% for the quarter, a decrease of 7 basis points (bps) from the linked quarter due primarily to an increase in overall cost of funds of 5 bps to 61 bps, and a decline in the fed funds rate of interest during the quarter. This was partially offset by an increase in core loan yield during the quarter of 8 bps to 5.57%. Core NIM declined over the same quarter last year by 35 bps due to an overall increase in cost of funds of 24 bps and loans being a lower percentage of earning assets in the current quarter as compared to the same quarter last year.

Noninterest income for the quarter did not include any income on gain on sale of loans and was steady over the linked quarter and same quarter last year.

Total noninterest expense declined over the linked quarter by $117,000 or 2.2%. This was primarily driven by a decrease in Other Expense of approximately $90,000 related to an FDIC small bank assessment credit received in the current quarter. Noninterest expense increased over the third quarter of 2018 by $317,000 or 6.4% explained primarily by increases in salaries and employee benefit cost. Salaries and employee benefits increased due to annual cost of living adjustments, increased healthcare cost and the hiring of senior market facing business development personnel since Q3 2018.

Balance Sheet

Total assets at September 30, 2019 were $997.4 million representing an increase of $53.7 million or 5.7% over the linked quarter, and a year over year increase of $85.9 million or 9.4%. The increase over both the linked quarter and year over year, was primarily the result of an increase in deposits of $49.9 million and $66.8 million respectively.

Total deposits at September 30, 2019 were $843.3 million, an increase of $49.9 million or 6.3% driven primarily by a significant increase of $29.2 million or 10.5% in noninterest-bearing accounts. This increase reflects normal seasonal inflows in our agricultural client base.

Total deposits have increased year over year by $66.8 million or 8.6% with the growth being in non-maturity deposits⁵ reflecting the banks focus on growing relationship-based deposit balances, especially through our suite of cash management services. Over the same period, we have allowed certificate of deposit (CD) balances, which are less relationship-based and more price sensitive, to decline by $36.3 million or 30.8%. This strategy has been effective in helping us manage the rate of increase in our cost of funds.

Total loans at September 30, 2019 were $657.2 million, an increase of $8.2 million or 1.3% over the linked quarter. The largest increases were in the Construction and Non-owner occupied commercial real estate (CRE) categories which increased by $6.4 million or 17.9%, and $6.1 million or 3.6%, respectively.

The largest year over year increases have been in Farmland and Non-owner occupied CRE which have increased by $14.7 million or 11.8%, and $28.5 million or 19.2%, respectively.

The Commercial and Industrial (C&I) portfolio declined by $5.4 million or 9.0% during the quarter and has declined year over year by $17.5 million or 24.5%. As mentioned in previous earnings reports, this decline has been largely driven by the bank's desire to strengthen the underlying credit structures in its C&I portfolio. As a result, we chose not to renew of number of large operating lines while a number of others chose to pay off early.

All other major loan categories have remained fairly steady year over year.

Overall Loan Growth

In the five quarters since we completed the acquisition of Community Business Bank we have seen linked quarter loan growth in every quarter with the exception Q1 2019 when we experienced significantly higher levels of payoffs. In addition, we have seen consistent increases in the total value of new originations⁶ since the fourth quarter of 2018.

Total Loans	Q3 2019	Q2 2019	Q1 2019	Q4 2018	Q3 2018
Linked Quarter Growth	1.3%	2.1%	-2.2%	1.5%	1.5%
New Originations (millions)⁽⁶⁾	$36.9	$30.6	$28.4	$22.6	$41.8

Asset Quality

Non-performing assets were $7.4 million or 0.74% of total assets at September 30, 2019 compared to $7.6 million or 0.81% at June 30, 2019. Non-performing assets declined by $184,000 due to scheduled payments received.

During the quarter, the allowance for loan loss was increased by $500,000. This was due to growth in our loan portfolio and the renewal of acquired loans, and their subsequent transition to the non-acquired loan pool which requires a reserve allocation. The allowance as a percentage of total loans, excluding acquired loans that have been marked to fair value, was 1.36% at Sept 30, 2019 compared to 1.32% at June 30, 2019.

Classified non-accrual loans declined slightly over the linked quarter due to scheduled payments received with classified accrual loans increasing due to advances on harvest lines.

	Q3 2019	Q2 2019	Q3 2018
Total Classified Loans (a)	$10,840,514	$10,506,826	$9,248,946
Classified - Accrual Loans	$3,734,612	$3,217,246	$8,878,844
Classified - Non-Accrual Loans	$7,105,902	$7,289,580	$370,102
Total Classified / Total Loans	1.65%	1.62%	1.44%


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

Capital

Suncrest Bank remained well capitalized at September 30, 2019. All of the bank's capital ratios are above minimum regulatory standards for "well capitalized" institutions.

At September 30, 2019 tangible book value per common share was $8.31 with common shares issued of 12,434,800 as of the same date. This compares to a tangible book value per common share of $7.99 at June 30, 2019.

MLS franchise awarded to Sacramento

On October 21, 2019, Major League Soccer (MLS) awarded its 29^th franchise to Sacramento representing a significant economic opportunity for both the area and the bank. The Sacramento region represents approximately 35% of banks deposit base and 45% of our commercial loan portfolio. The announcement kick-starts the construction of a new state-of-the art stadium in downtown and the development of the surrounding area, less than three miles from our main Sacramento branch. A report undertaken by the Capitol Public Finance Group estimates a total economic impact of approximately $1.6 billion including; over 2,500 jobs created during stadium construction, an additional 130 to 220 jobs during ongoing operations, $320 million of gross economic activity during the construction phase, and $39 million of annual economic activity in the City of Sacramento alone, together with entertainment for an anticipated 500,000 annual visitors. In addition, in October 2016, the Sacramento City Council approved planning entitlements for the area including; 6,000 to 10,000 dwelling units, 500,000 square feet (sf) of retail, 2.8 to 3.8 million sf of office use, 1.3 million sf of medical campus, 1,100 hotel rooms and 500,000 sf for historic and cultural uses. MLS will be Sacramento's second major league franchise.

About Suncrest Bank

Suncrest Bank, member FDIC, is locally owned and operated and offers a full range of commercial, small business and agribusiness loans, cash management services and personal deposit products throughout the Central Valley of California. 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.

1	Includes unfunded commitments
2	Represents interest recoveries on non-accrual loans
3	Represents accretion of acquired loan fair value marks
4	Excludes non-recurring income, income from accretion of fair value marks and non-recurring costs, non-GAAP financial measure
5	Includes Noninterest-bearing Demand, Savings, NOW and Money Market Accounts
6	Includes unfunded commitments

Suncrest Bank
Statements of Financial Condition (Unaudited)

	September 30,	June 30,	September 30,
	2019	2019	2018
ASSETS
Cash and Due from Banks	$ 35,955,286	$ 29,654,947	$ 45,939,304
Federal Funds Sold	49,599,000	33,204,000	25,447,000
TOTAL CASH AND CASH EQUIVALENTS	85,554,286	62,858,947	71,386,304

Investment Securities Available for Sale (AFS)	186,336,686	163,188,023	127,135,695
Loans:
Total Loans	657,223,581	648,985,053	640,515,026
Allowance for Loan Losses	(5,988,203)	(5,473,135)	(4,021,747)
NET LOANS	651,235,378	643,511,918	636,493,279

Federal Home Loan Bank and Other Bank Stock, at Cost	5,472,491	5,472,491	5,453,891
Premises and Equipment	10,409,258	9,883,776	6,123,388
Other Real Estate Owned	313,720	313,720	313,720
Bank Owned Life Insurance	8,438,162	8,385,617	8,231,954
Goodwill	38,989,566	38,989,566	38,989,566
Core Deposit Intangible	3,378,466	3,563,022	4,191,333
Accrued Interest and Other Assets	7,284,576	7,525,226	13,192,284
	$ 997,412,589	$ 943,692,306	$ 911,511,414

LIABILITIES AND SHAREHOLDERS' EQUITY
Deposits:
Noninterest-bearing Demand	$ 57,182,913	$ 48,287,484	$ 303,565,381
Noninterest-bearing Demand reclassified
as noninterest-bearing MMA	248,986,589	228,668,062	-
Savings, NOW and Money Market Accounts	455,549,521	431,065,423	355,074,099
Time Deposits	81,606,567	85,400,880	117,903,291
TOTAL DEPOSITS	843,325,590	793,421,849	776,542,771
Accrued Interest and Other Liabilities	8,361,487	8,332,164	4,755,688
TOTAL LIABILITIES	851,687,077	801,754,013	781,298,459

Shareholders' Equity:
Common Stock - No par value	119,743,464	119,743,464	121,716,187
Additional Paid-in Capital	2,843,756	2,711,909	2,355,357
Retained Earnings	21,025,310	17,959,995	8,663,208
Accumulated Other Comprehensive Income (Loss) - Net
Unrealized Gain (Loss) on Securities AFS	2,112,982	1,522,925	(2,521,797)
TOTAL SHAREHOLDERS' EQUITY	145,725,512	141,938,293	130,212,955
	$ 997,412,589	$ 943,692,306	$ 911,511,414

Suncrest Bank
Statements of Income (Unaudited)
For the Three Months Ended

	September 30,	June 30,	September 30,
	2019	2019	2018
INTEREST INCOME
Interest and Fees on Loans	$ 9,289,213	$ 9,426,583	$ 9,376,674
Interest on Investment Securities	1,185,810	1,114,847	782,859
Interest on Federal Funds Sold and Other	377,710	339,046	238,646
TOTAL INTEREST INCOME	10,852,733	10,880,476	10,398,179

INTEREST EXPENSE
Interest on Savings Deposits, NOW and Money Market Accounts	1,007,223	859,741	449,095
Interest on Time Deposits	241,573	242,661	261,992
Interest on Other Borrowings	-	-	1,223
TOTAL INTEREST EXPENSE	1,248,796	1,102,402	712,310

NET INTEREST INCOME	9,603,937	9,778,074	9,685,869

Provision for Loan Losses	500,000	850,000	350,000
NET INTEREST INCOME AFTER
PROVISION FOR LOAN LOSSES	9,103,937	8,928,074	9,335,869

NONINTEREST INCOME
Service Charges, Fees, and Other Income	456,593	434,439	446,104
Gain on Sale of Loans	-	-	-
	456,593	434,439	446,104

NONINTEREST EXPENSE
Salaries and Employee Benefits	2,796,181	2,820,144	2,619,448
Occupancy Expenses	577,580	551,401	539,438
Other Expenses	1,918,154	2,037,399	1,815,963
	5,291,915	5,408,944	4,974,849
INCOME BEFORE INCOME TAXES	4,268,615	3,953,569	4,807,124
Income Taxes	1,203,300	1,134,700	1,304,400
NET INCOME	$ 3,065,315	$ 2,818,869	$ 3,502,724

Suncrest Bank
Statements of Income (Unaudited)
For the Nine Months Ended

	September 30,	September 30,
	2019	2018
INTEREST INCOME
Interest and Fees on Loans	$ 27,656,607	$ 21,003,013
Interest on Investment Securities	3,290,148	1,986,265
Interest on Federal Funds Sold and Other	1,074,530	646,713
TOTAL INTEREST INCOME	32,021,285	23,635,991

INTEREST EXPENSE
Interest on Savings Deposits, NOW and Money Market Accounts	2,556,708	836,952
Interest on Time Deposits	725,313	596,844
Interest on Other Borrowings	-	27,325
TOTAL INTEREST EXPENSE	3,282,021	1,461,121

NET INTEREST INCOME	28,739,264	22,174,870

Provision for Loan Losses	1,600,000	920,000
NET INTEREST INCOME AFTER
PROVISION FOR LOAN LOSSES	27,139,264	21,254,870

NONINTEREST INCOME
Service Charges, Fees, and Other Income	1,310,745	1,118,107
Gain on Sale of Loans	-	332,288
	1,310,745	1,450,395

NONINTEREST EXPENSE
Salaries and Employee Benefits	8,610,865	6,751,313
Occupancy Expenses	1,675,077	1,312,759
Other Expenses	5,842,697	5,766,970
	16,128,639	13,831,042
INCOME BEFORE INCOME TAXES	12,321,370	8,874,223
Income Taxes	3,448,800	2,506,500
NET INCOME	$ 8,872,570	$ 6,367,723

Suncrest Bank
Selected Financial Data & Ratios (Unaudited)
	September 30,	June 30,	September 30,
	2019	2019	2018
For the three months ended:
Return on Average Assets(ROAA)	1.27%	1.21%	1.58%
ROAA excluding non-recurring items ^{(1) (2)}	1.21%	1.01%	1.44%
Return on Average Tangible Assets ⁽²⁾	1.33%	1.27%	1.66%
Return on Average Equity(ROAE)	8.51%	8.07%	10.85%
ROAE excluding non-recurring items ^{(1) (2)}	8.11%	6.76%	9.94%
Return on Average Tangible Equity ⁽²⁾	11.93%	11.51%	16.13%
Noninterest Expense (NIE) To Average Assets	2.19%	2.32%	2.24%
NIE to Average Assets excluding non-recurring items ^{(1) (2)}	2.19%	2.32%	2.24%
Efficiency Ratio	52.60%	52.96%	49.10%
Efficiency Ratio excluding non-recurring items ^{(1) (2)}	53.66%	56.58%	51.23%
Net Interest Margin	4.31%	4.60%	4.78%
Core Net Interest Margin ^{(1) (2)}	4.22%	4.29%	4.57%
Cost of Funds	0.61%	0.56%	0.37%
Basic Earnings Per Share (EPS)	$ 0.25	$ 0.23	$ 0.28
Diluted EPS	$ 0.24	$ 0.22	$ 0.28
Diluted EPS excluding non-recurring items ^{(1) (2)}	$ 0.23	$ 0.19	$ 0.26

	September 30,	September 30,
	2019	2018
For the nine months ended:
ROAA	1.26%	1.20%
ROAA excluding non-recurring items ^{(1) (2)}	1.17%	1.35%
Return on Average Tangible Assets ⁽²⁾	1.32%	1.24%
ROAE	8.47%	9.00%
ROAE excluding non-recurring items ^{(1) (2)}	7.87%	10.11%
Return on Average Tangible Equity ⁽²⁾	12.04%	11.98%
NIE To Average Assets	2.30%	2.61%
NIE to Average Assets excluding non-recurring items ^{(1) (2)}	2.30%	2.31%
Efficiency Ratio	53.67%	58.54%
Efficiency Ratio excluding non-recurring items ^{(1) (2)}	55.32%	53.10%
Net Interest Margin	4.49%	4.58%
Core Net Interest Margin ^{(1) (2)}	4.35%	4.47%
Cost of Funds	0.56%	0.32%
Basic EPS	$ 0.71	$ 0.66
Diluted EPS	$ 0.71	$ 0.65
Diluted EPS excluding non-recurring items ^{(1) (2)}	$ 0.66	$ 0.73

(1) Non-recurring items include merger expenses, discount accretion on acquired loans and recovery of
interest on non-accrual loans.
(2) 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)

	September 30,	June 30,	September 30,
	2019	2019	2018
At Period End:
Loans to Deposits	77.93%	81.80%	82.48%
Average Loans to Average Deposits (QTD)	79.64%	81.53%	84.32%
Non-Performing Assets to Assets	0.74%	0.81%	0.08%
Outstanding Shares	12,434,800	12,433,300	12,412,300
Tangible Book Value Per Share (BVPS) ⁽²⁾	$ 8.31	$ 7.99	$ 6.84
Tangible BVPS excluding Unrealized Gain (Loss) on Securities ⁽²⁾	$ 8.14	$ 7.87	$ 7.04
Book Value Per Share	$ 11.72	$ 11.42	$ 10.49


Regulatory Capital Ratios
Tier 1 Leverage (to average assets)	10.90%	10.91%	10.29%
Common Equity Tier 1 Capital (to risk weighted assets)	13.50%	13.29%	11.99%
Tier 1 Capital (to risk weighted assets)	13.50%	13.29%	11.99%
Total Capital (to risk weighted assets)	14.32%	14.05%	12.55%



	September 30,	June 30,	September 30,
	2019	2019	2018
Loan Composition
Commercial and Industrial:	$ 54,001,348	$ 59,366,842	$ 71,502,960
Loans to Finance Agricultural Production and Other Loans to Farmers:	39,207,688	38,622,774	41,647,206
Loans Secured by Real Estate:
Secured by Farmland	139,167,050	135,339,361	124,493,140
Construction, Land Development and Other Land	42,376,121	35,943,146	39,036,669
1-4 Family Residential Properties	47,642,776	51,759,914	55,643,334
Multifamily Residential Properties	43,850,002	42,719,058	45,148,329
Owner Occupied Nonresidential Properties	91,316,105	94,035,588	90,151,385
Non-Owner Occupied Nonresidential Properties	177,481,492	171,361,023	148,948,159
Total Loans Secured by Real Estate	541,833,546	531,158,090	503,421,016

Municipal Leases:	21,889,871	19,596,422	23,662,086
Other Loans:	291,128	240,925	281,758

Total Loans	$ 657,223,581	$ 648,985,053	$ 640,515,026

(2) 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
	September 30, 2019			June 30, 2019
	Average		Average	Average		Average
	Balance	Interest	Yield/Rate	Balance	Interest	Yield/Rate

Interest Earning Assets:
Deposits in Other Financial Institutions	$ 66,235,223	$ 377,710	2.26%	$ 53,826,806	$ 339,046	2.53%
Investment Securities	170,128,601	1,185,810	2.79%	158,173,939	1,114,847	2.82%
Loans	647,802,385	9,289,213	5.69%	640,506,723	9,426,583	5.90%
Total Interest Earning Assets	884,166,209	10,852,733	4.87%	852,507,468	10,880,476	5.12%
Noninterest Earning Assets	81,814,739			81,120,229
Total Assets	$ 965,980,948			$ 933,627,697

Interest Bearing Liabilities
Interest Bearing Transaction Accounts	$ 125,805,706	277,724	0.88%	$ 103,039,731	170,050	0.66%
Savings and Money Market Accounts	311,362,668	729,499	0.93%	307,778,084	689,691	0.90%
Time Deposits	83,727,219	241,573	1.14%	91,964,284	242,661	1.06%
Total Interest Bearing Deposits	520,895,593	1,248,796	0.95%	502,782,099	1,102,402	0.88%
Other Borrowings	-	-	-	-	-	-
Total Interest Bearing Liabilities	520,895,593	1,248,796	0.95%	502,782,099	1,102,402	0.88%
Noninterest Bearing Transaction Accounts ⁽³⁾	292,501,786			282,794,851
Total Funding Sources	813,397,379			785,576,950
Noninterest Bearing Liabilities	8,459,265			8,410,437
Shareholders' Equity	144,124,304			139,640,310
Total Liabilities and Shareholder's Equity	$ 965,980,948			$ 933,627,697
Net Interest Income		$ 9,603,937			$ 9,778,074
Net Interest Margin			4.31%			4.60%

(3) Includes Noninterest Bearing Demand reclassified
as Noninterest Bearing MMA

Suncrest Bank
Average Balance Sheet and Yields (Unaudited)
For the Three Months Ended
	September 30, 2019			September 30, 2018
	Average		Average	Average		Average
	Balance	Interest	Yield/Rate	Balance	Interest	Yield/Rate

Interest Earning Assets:
Deposits in Other Financial Institutions	$ 66,235,223	$ 377,710	2.26%	$ 47,719,043	$ 238,646	1.98%
Investment Securities	170,128,601	1,185,810	2.79%	121,612,179	782,859	2.57%
Loans	647,802,385	9,289,213	5.69%	634,575,951	9,376,674	5.86%
Total Interest Earning Assets	884,166,209	10,852,733	4.87%	803,907,173	10,398,179	5.13%
Noninterest Earning Assets	81,814,739			84,836,567
Total Assets	$965,980,948			$888,743,740

Interest Bearing Liabilities
Interest Bearing Transaction Accounts	$125,805,706	277,724	0.88%	$ 76,528,434	31,182	0.16%
Savings and Money Market Accounts	311,362,668	729,499	0.93%	267,298,485	417,913	0.62%
Time Deposits	83,727,219	241,573	1.14%	120,286,031	261,992	0.86%
Total Interest Bearing Deposits	520,895,593	1,248,796	0.95%	464,112,950	711,087	0.61%
Other Borrowings	-	-	-	2,146,739	1,223	0.23%
Total Interest Bearing Liabilities	20,895,593	1,248,796	0.95%	466,259,689	712,310	0.61%
Noninterest Bearing Transaction Accounts ⁽³⁾	292,501,786			288,434,695
Total Funding Sources	813,397,379			754,694,384
Noninterest Bearing Liabilities	8,459,265			4,916,648
Shareholders' Equity	144,124,304			129,132,708
Total Liabilities and Shareholder's Equity	$965,980,948			$888,743,740
Net Interest Income		$ 9,603,937			$ 9,685,869
Net Interest Margin			4.31%			4.78%

(3) Includes Noninterest Bearing Demand reclassified
as Noninterest Bearing MMA

Suncrest Bank
Average Balance Sheet and Yields (Unaudited)
For the Nine Months Ended
	September 30, 2019			September 30, 2018
	Average		Average	Average		Average
	Balance	Interest	Yield/Rate	Balance	Interest	Yield/Rate

Interest Earning Assets:
Deposits in Other Financial Institutions	$59,321,012	$1,074,530	2.42%	$45,539,444	$646,713	1.90%
Investment Securities	157,637,114	3,290,148	2.78%	111,239,812	1,986,265	2.38%
Loans	638,373,647	27,656,607	5.79%	490,780,822	21,003,013	5.72%
Total Interest Earning Assets	855,331,773	32,021,285	5.01%	647,560,078	23,635,991	4.88%
Noninterest Earning Assets	81,006,373			59,958,985
Total Assets	$936,338,146			$707,519,063

Interest Bearing Liabilities
Interest Bearing Transaction Accounts	$108,180,748	563,784	0.70%	$ 66,430,754	73,898	0.15%
Savings and Money Market Accounts	303,680,421	1,992,924	0.88%	220,977,556	763,054	0.46%
Time Deposits	90,867,700	725,313	1.07%	94,096,387	596,844	0.85%
Total Interest Bearing Deposits	502,728,869	3,282,021	0.87%	381,504,697	1,433,796	0.50%
Other Borrowings	-	-	-	2,339,011	27,325	1.56%
Total Interest Bearing Liabilities	502,728,869	3,282,021	0.87%	383,843,708	1,461,121	0.51%
Noninterest Bearing Transaction Accounts ⁽³⁾	285,921,489			226,390,138
Total Funding Sources	788,650,358			610,233,846
Noninterest Bearing Liabilities	8,091,897			2,907,870
Shareholders' Equity	139,595,891			94,377,347
Total Liabilities and Shareholder's Equity	$936,338,146			$707,519,063
Net Interest Income		$ 28,739,264			$ 22,174,870
Net Interest Margin			4.49%			4.58%

(3) Includes Noninterest Bearing Demand reclassified
as Noninterest Bearing MMA

SOURCE Suncrest Bank

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