Suncrest Bank Reports Fourth Quarter and Full Year Earnings. Record Net Income of $12 million. An increase of 21%.

SACRAMENTO, Calif. and VISALIA, Calif., Jan. 29, 2020 /PRNewswire/ -- Suncrest Bank SBKK today reported unaudited financial results for the fourth quarter and full year of 2019.

"In 2019 we reported record net income of approximately $12 million which represents a year-over-year increase of 21%," said Mr. Ciaran McMullan, President and CEO of Suncrest Bank. "This year we have focused on strengthening our credit portfolio while also continuing to organically grow the balance sheet," McMullan added. "Non-maturity deposits have grown by almost 11% while total loans have increased consistently since the first quarter growing by 5%."

Full Year 2019 Highlights

Record net income of $11.9 million, up 20.8% over the prior year
Diluted EPS of $0.95, an increase of $0.01 over the prior year
Return on average tangible assets of 1.31%
Return on average tangible equity of 12.02%
Efficiency ratio of 53.53%
New loan originations1 of $143.7 million
Total loans increased by $17.3 million or 2.7%
Total loans increased by $31.6 million or 5.0% since March 31, 2019
Total non-maturity deposits increased by $71.3 million or 10.5%
Total assets increased to $984.9 million, year over year organic growth of 6.1%

Fourth Quarter 2019 Highlights

Net income of $3.04 million
Diluted EPS of $0.24
Return on average tangible assets of 1.27%
Return on average tangible equity of 11.54%
Efficiency ratio of 53.09%
New loan originations1 of $47.8 million
Total loans increased by $10.3 million or 1.6% over the linked quarter
Total risk-based capital ratio increased to 14.77% and Tier 1 leverage ratio increased to 10.91%

Income Statement

Net income remained fairly steady over the linked quarter at $3.04 million compared to $3.07 million. When compared to the same quarter last year, net income declined by $453,000 primarily due to an increased provision for loan losses of $150,000 and an increase in noninterest expense of $309,000 or 6.1%.

Interest income also remained steady at $10.8 million versus $10.9 million for the linked quarter. However, interest income increased by approximately $300,000 or 2.8% over the fourth quarter of 2018. While interest expense was flat over the linked quarter, it increased by approximately $400,000 or 46.1% over the same quarter last year. This increase was driven primarily by an increase in our cost of funds of 15 basis points

			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
Q4 2019	$ 3,036,278	4.14%	$ -	$ 165,638	$ -	$ 9,382,075	$ 2,919,278	4.07%	$ 0.23
Q3 2019	$ 3,065,315	4.31%	$ 578	$ 197,226	$ -	$ 9,406,133	$ 2,923,315	4.22%	$ 0.23
Q4 2018	$ 3,489,533	4.67%	$ 30,194	$ 107,342	$ -	$ 9,514,237	$ 3,392,532	4.61%	$ 0.27

Core net interest income, which conservatively excludes accretion on acquired loans and interest recoveries, decreased slightly over the linked quarter and same quarter last year by $24,000 or 0.3% and $132,000 or 1.4% respectively. These decreases are primarily explained by a decrease in core net interest margin (NIM).

Core NIM declined over the same quarter last year by 54 basis points (bps) due to an overall increase in cost of funds of 15 bps and core loan yield declining from 5.75% to 5.49%. In addition, loans were a lower percentage of earning assets in the current quarter as compared to the same quarter last year. Core NIM was 4.07% for the quarter, a decrease of 15 bps from the linked quarter due primarily to a decrease in yields on earning assets due to the lower interest rate environment. However, our cost of funds improved by 1 bp during the quarter, declining to 60 bps overall.

Noninterest income for the quarter included a small gain on sale of loans of $50,000 while service charges, fees and other income was steady over the linked quarter and the same quarter last year.

Total noninterest expense increased over the linked quarter by $47,000 or 0.9%. This was primarily driven by a slight increase in other professional fees related to legal expenses. Noninterest expense increased over the fourth quarter of 2018 by $309,000 or 6.1% explained primarily by normal year-over-year increases in salaries and employee benefit costs, and other expenses, more fully discussed in our second quarter 2019 earnings release and webcast.

Balance Sheet

Total assets at December 31, 2019 were $984.9 million representing a decrease of $12.5 million or 1.3% over the linked quarter, and a year over year increase of $56.2 million or 6.1%. The increase year over year, was primarily the result of an increase in deposits of $37.5 million. The decrease in assets over the linked quarter of $12.5 million or 1.3% was a result of a decrease in deposits of $14.8 million.

Total deposits at December 31, 2019 were $828.6 million, a decrease of $14.8 million or 1.8% over the linked quarter driven primarily by normal cyclical business fluctuations of some of our largest depositors. Total deposits increased year over year by $37.5 million or 4.7% with the growth being in non-maturity deposits5 of $71.3 million or 10.5%. Over the same period, we allowed more price sensitive certificate of deposit (CD) balances to decline by $33.8 million or 30.1%.

Total loans at December 31, 2019 were $667.5 million, an increase of $10.3 million or 1.6% over the linked quarter. The largest increases being in Non-Owner Occupied and Owner Occupied Commercial Real Estate (CRE) which increased by $17.0 million or 9.6% and $3.8 million or 4.1%, respectively. Farmland also increased by $4.6 million or 3.3%. The Commercial and Industrial (C&I) portfolio declined by $9.5 million over the linked quarter driven by a combination of normal borrower utilization and ongoing credit portfolio improvement actions. As discussed in previous releases, our C&I balances have declined over the last year due in large part to early pay-offs driven by the bank's actions to strengthen underlying credit structures in this portfolio.

The largest year over year increases have been in Farmland and Non-Owner Occupied CRE which increased by $19.5 million or 15.7% and $33.7 million or 21.0%, respectively.

Overall Loan Growth

Over the last five quarters we have seen linked quarter loan growth with the exception of Q1 2019 when we experienced significantly higher levels of payoffs. In addition, we have seen consistent increases in the total value of new originations[6] while total loans have increased by $31.6 million or 5.0% since March 31, 2019.

Total Loans	Q4 2019	Q3 2019	Q2 2019	Q1 2019	Q4 2018
Linked Quarter Growth	1.6%	1.3%	2.1%	-2.2%	1.5%
New Originations (millions)⁽⁶⁾	$47.8	$36.9	$30.6	$28.4	$22.6

Asset Quality

Non-performing assets were $5.5 million or 0.56% of total assets at December 31, 2019 compared to $7.4 million or 0.74% at September 30, 2019. Non-performing assets declined by $1.9 million due to successful collections and also the $1.0 million partial charge-off of one larger non-accrual relationship.

During the quarter, the allowance for loan loss (ALLL) 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 1.17% at December 31, 2019 compared to 1.36% at September 30, 2019 with the decrease being primarily explained by the charge-off indicated above. Our ALLL remains sufficient and well within parameters established by bank policies.

Classified non-accrual loans declined over the linked quarter as discussed above. Classified accrual loans declined slightly due to normal scheduled payments.

	Q4 2019	Q3 2019	Q4 2018
Total Classified Loans (a)	$8,513,450	$10,840,514	$9,618,692
Classified - Accrual Loans	$3,327,728	$3,734,612	$8,834,752
Classified - Non-Accrual Loans	$5,185,722	$7,105,902	$783,940
Total Classified / Total Loans	1.28%	1.65%	1.48%


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

Capital

Suncrest Bank remained well capitalized at December 31, 2019. All of the bank's capital ratios are above minimum regulatory standards for "well capitalized" institutions.

At December 31, 2019 tangible book value per common share was $8.52 with common shares issued of 12,442,800 as of the same date. This compares to a tangible book value per common share of $8.31 at September 30, 2019.

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 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)
	December 31,	September 30,	December 31,
	2019	2019	2018
ASSETS
Cash and Due from Banks	$ 33,905,202	$ 35,955,286	$ 54,747,273
Federal Funds Sold	19,330,000	49,599,000	18,137,000
TOTAL CASH AND CASH EQUIVALENTS	53,235,202	85,554,286	72,884,273

Investment Securities Available for Sale (AFS)	195,057,652	186,336,686	137,719,068
Loans:
Total Loans	667,478,993	657,223,581	650,146,414
Allowance for Loan Losses	(5,488,657)	(5,988,203)	(4,372,547)
NET LOANS	661,990,336	651,235,378	645,773,867

Federal Home Loan Bank and Other Bank Stock, at Cost	5,471,141	5,472,491	5,453,891
Premises and Equipment	10,228,120	10,409,258	6,014,471
Other Real Estate Owned	313,720	313,720	313,720
Bank Owned Life Insurance	8,492,003	8,438,162	8,284,240
Goodwill	38,989,566	38,989,566	38,989,566
Core Deposit Intangible	3,194,010	3,378,466	3,974,505
Accrued Interest and Other Assets	7,926,389	7,284,576	9,269,273
	$ 984,898,139	$ 997,412,589	$ 928,676,874

LIABILITIES AND SHAREHOLDERS' EQUITY
Deposits:
Noninterest-bearing Demand	$ 84,864,480	$ 57,182,913	$ 292,174,413
Noninterest-bearing Demand reclassified
as noninterest-bearing MMA	243,575,223	248,986,589	-
Savings, NOW and Money Market Accounts	421,833,613	455,549,521	386,793,012
Time Deposits	78,285,729	81,606,567	112,050,259
TOTAL DEPOSITS	828,559,045	843,325,590	791,017,684
Accrued Interest and Other Liabilities	8,160,798	8,361,487	4,622,643
TOTAL LIABILITIES	836,719,843	851,687,077	795,640,327

Shareholders' Equity:
Common Stock - No par value	119,816,864	119,743,464	119,643,464
Additional Paid-in Capital	2,920,953	2,843,756	2,441,948
Retained Earnings	24,061,588	21,025,310	12,152,740
Accumulated Other Comprehensive Income (Loss) - Net
Unrealized Gain (Loss) on Securities AFS	1,378,891	2,112,982	(1,201,605)
TOTAL SHAREHOLDERS' EQUITY	148,178,296	145,725,512	133,036,547
	$ 984,898,139	$ 997,412,589	$ 928,676,874

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

	December 31,	September 30,	December 31,
	2019	2019	2018
INTEREST INCOME
Interest and Fees on Loans	$ 9,269,770	$ 9,289,213	$ 9,333,352
Interest on Investment Securities	1,272,126	1,185,810	913,560
Interest on Federal Funds Sold and Other	282,044	377,710	278,425
TOTAL INTEREST INCOME	10,823,940	10,852,733	10,525,337

INTEREST EXPENSE
Interest on Savings Deposits, NOW and Money Market Accounts	1,033,695	1,007,223	575,868
Interest on Time Deposits	242,532	241,573	297,696
Interest on Other Borrowings	-	-	-
TOTAL INTEREST EXPENSE	1,276,227	1,248,796	873,564

NET INTEREST INCOME	9,547,713	9,603,937	9,651,773

Provision for Loan Losses	500,000	500,000	350,000
NET INTEREST INCOME AFTER
PROVISION FOR LOAN LOSSES	9,047,713	9,103,937	9,301,773

NONINTEREST INCOME
Service Charges, Fees, and Other Income	457,312	456,593	461,282
Gain on Sale of Loans	50,012	-	-
	507,324	456,593	461,282

NONINTEREST EXPENSE
Salaries and Employee Benefits	2,787,137	2,796,181	2,546,380
Occupancy Expenses	574,771	577,580	522,999
Other Expenses	1,976,551	1,918,154	1,959,843
	5,338,459	5,291,915	5,029,222
INCOME BEFORE INCOME TAXES	4,216,578	4,268,615	4,733,833
Income Taxes	1,180,300	1,203,300	1,244,300
NET INCOME	$ 3,036,278	$ 3,065,315	$ 3,489,533

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

	December 31,	December 31,
	2019	2018
INTEREST INCOME
Interest and Fees on Loans	$ 36,926,377	$ 30,336,366
Interest on Investment Securities	4,562,274	2,899,825
Interest on Federal Funds Sold and Other	1,356,575	925,138
TOTAL INTEREST INCOME	42,845,226	34,161,329

INTEREST EXPENSE
Interest on Savings Deposits, NOW and Money Market Accounts	3,590,402	1,412,820
Interest on Time Deposits	967,845	894,540
Interest on Other Borrowings	-	27,325
TOTAL INTEREST EXPENSE	4,558,247	2,334,685

NET INTEREST INCOME	38,286,979	31,826,644

Provision for Loan Losses	2,100,000	1,270,000
NET INTEREST INCOME AFTER
PROVISION FOR LOAN LOSSES	36,186,979	30,556,644

NONINTEREST INCOME
Service Charges, Fees, and Other Income	1,768,056	1,579,388
Gain on Sale of Loans	50,012	332,288
	1,818,068	1,911,676

NONINTEREST EXPENSE
Salaries and Employee Benefits	11,398,002	9,297,693
Occupancy Expenses	2,249,848	1,835,758
Other Expenses	7,819,249	7,726,814
	21,467,099	18,860,265
INCOME BEFORE INCOME TAXES	16,537,948	13,608,055
Income Taxes	4,629,100	3,750,800
NET INCOME	$ 11,908,848	$ 9,857,255

Suncrest Bank
Selected Financial Data & Ratios (Unaudited)
	December 31,	September 30,	December 31,
	2019	2019	2018
For the three months ended:
Return on Average Assets(ROAA)	1.22%	1.27%	1.55%
ROAA excluding non-recurring items ^{(1) (2)}	1.17%	1.21%	1.51%
Return on Average Tangible Assets ⁽²⁾	1.27%	1.33%	1.63%
Return on Average Equity(ROAE)	8.23%	8.51%	10.62%
ROAE excluding non-recurring items ^{(1) (2)}	7.91%	8.11%	10.33%
Return on Average Tangible Equity ⁽²⁾	11.54%	11.93%	15.80%
Noninterest Expense (NIE) To Average Assets	2.15%	2.19%	2.23%
NIE to Average Assets excluding non-recurring items ^{(1) (2)}	2.15%	2.19%	2.23%
Efficiency Ratio	53.09%	52.60%	49.73%
Efficiency Ratio excluding non-recurring items ^{(1) (2)}	53.98%	53.66%	50.42%
Net Interest Margin	4.14%	4.31%	4.67%
Core Net Interest Margin ^{(1) (2)}	4.07%	4.22%	4.61%
Cost of Funds	0.60%	0.61%	0.45%
Basic Earnings Per Share (EPS)	$ 0.24	$ 0.25	$ 0.28
Diluted EPS	$ 0.24	$ 0.24	$ 0.28
Diluted EPS excluding non-recurring items ^{(1) (2)}	$ 0.23	$ 0.23	$ 0.27

	December 31,	December 31,
	2019	2018
For the twelve months ended:
ROAA	1.25%	1.30%
ROAA excluding non-recurring items ^{(1) (2)}	1.17%	1.39%
Return on Average Tangible Assets ⁽²⁾	1.31%	1.36%
ROAE	8.41%	9.51%
ROAE excluding non-recurring items ^{(1) (2)}	7.88%	10.17%
Return on Average Tangible Equity ⁽²⁾	12.02%	13.26%
NIE To Average Assets	2.26%	2.49%
NIE to Average Assets excluding non-recurring items ^{(1) (2)}	2.26%	2.29%
Efficiency Ratio	53.53%	55.90%
Efficiency Ratio excluding non-recurring items ^{(1) (2)}	54.98%	52.29%
Net Interest Margin	4.44%	4.59%
Core Net Interest Margin ^{(1) (2)}	4.32%	4.50%
Cost of Funds	0.57%	0.36%
Basic EPS	$ 0.96	$ 0.95
Diluted EPS	$ 0.95	$ 0.94
Diluted EPS excluding non-recurring items ^{(1) (2)}	$ 0.89	$ 1.00

(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)

	December 31,	September 30,	December 31,
	2019	2019	2018
At Period End:
Loans to Deposits	80.56%	77.93%	82.19%
Average Loans to Average Deposits (QTD)	78.36%	79.64%	82.99%
Non-Performing Assets to Assets	0.56%	0.74%	0.12%
Outstanding Shares	12,442,800	12,434,800	12,420,300
Tangible Book Value Per Share ⁽²⁾	$ 8.52	$ 8.31	$ 7.25
Tangible Book Value Per Share excluding Unrealized Gain on Securities ⁽²⁾	$ 8.41	$ 8.14	$ 7.35
Book Value Per Share	$ 11.91	$ 11.72	$ 10.71


Regulatory Capital Ratios
Tier 1 Leverage (to average assets)	10.91%	10.90%	10.57%
Common Equity Tier 1 Capital (to risk weighted assets)	14.02%	13.50%	12.53%
Tier 1 Capital (to risk weighted assets)	14.02%	13.50%	12.53%
Total Capital (to risk weighted assets)	14.77%	14.32%	13.14%



	December 31,	September 30,	December 31,
	2019	2019	2018
Loan Composition
Commercial and Industrial:	$ 44,523,301	$ 54,001,348	$ 73,040,907
Loans to Finance Agricultural Production and Other Loans to Farmers:	34,156,321	39,207,688	37,504,128
Loans Secured by Real Estate:
Secured by Farmland	143,797,280	139,167,050	124,326,456
Construction, Land Development and Other Land	42,445,905	42,376,121	41,740,821
1-4 Family Residential Properties	44,378,455	47,642,776	57,692,599
Multifamily Residential Properties	46,969,544	43,850,002	47,803,422
Owner Occupied Nonresidential Properties	95,098,253	91,316,105	88,176,104
Non-Owner Occupied Nonresidential Properties	194,467,766	177,481,492	160,834,825
Total Loans Secured by Real Estate	567,157,203	541,833,546	520,574,227

Municipal Leases:	21,461,996	21,889,871	18,535,425
Other Loans:	180,172	291,128	491,727

Total Loans	$ 667,478,993	$ 657,223,581	$ 650,146,414

(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
	December 31, 2019			September 30, 2019
	Average		Average	Average		Average
	Balance	Interest	Yield/Rate	Balance	Interest	Yield/Rate

Interest Earning Assets:
Deposits in Other Financial Institutions	$ 65,973,893	$ 282,044	1.70%	$ 66,235,223	$ 377,710	2.26%
Investment Securities	190,343,303	1,272,126	2.67%	170,128,601	1,185,810	2.79%
Loans	657,817,950	9,269,770	5.59%	647,802,385	9,289,213	5.69%
Total Interest Earning Assets	914,135,146	10,823,940	4.70%	884,166,209	10,852,733	4.87%
Noninterest Earning Assets	81,284,432			81,814,739
Total Assets	$995,419,578			$965,980,948

Interest Bearing Liabilities
Interest Bearing Transaction Accounts	$133,928,030	311,637	0.92%	$125,805,706	277,724	0.88%
Savings and Money Market Accounts	315,941,175	722,058	0.91%	311,362,668	729,499	0.93%
Time Deposits	80,070,952	242,532	1.20%	83,727,219	241,573	1.14%
Total Interest Bearing Deposits	529,940,157	1,276,227	0.96%	520,895,593	1,248,796	0.95%
Other Borrowings	-	-	-	-	-	-
Total Interest Bearing Liabilities	529,940,157	1,276,227	0.96%	520,895,593	1,248,796	0.95%
Noninterest Bearing Transaction Accounts⁽³⁾	309,493,329			292,501,786
Total Funding Sources	839,433,486			813,397,379
Noninterest Bearing Liabilities	8,439,702			8,459,265
Shareholders' Equity	147,546,390			144,124,304
Total Liabilities and Shareholder's Equity	$995,419,578			$965,980,948
Net Interest Income		$ 9,547,713			$ 9,603,937
Net Interest Margin			4.14%			4.31%

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

Suncrest Bank
Average Balance Sheet and Yields (Unaudited)
For the Three Months Ended
	December 31, 2019			December 31, 2018
	Average		Average	Average		Average
	Balance	Interest	Yield/Rate	Balance	Interest	Yield/Rate

Interest Earning Assets:
Deposits in Other Financial Institutions	$ 65,973,893	$ 282,044	1.70%	$ 50,439,804	$ 278,425	2.19%
Investment Securities	190,343,303	1,272,126	2.67%	134,589,141	913,560	2.72%
Loans	657,817,950	9,269,770	5.59%	634,520,351	9,333,352	5.84%
Total Interest Earning Assets	914,135,146	10,823,940	4.70%	819,549,296	10,525,337	5.10%
Noninterest Earning Assets	81,284,432			81,342,243
Total Assets	$995,419,578			$900,891,539

Interest Bearing Liabilities
Interest Bearing Transaction Accounts	$133,928,030	311,637	0.92%	$ 81,176,619	83,148	0.41%
Savings and Money Market Accounts	315,941,175	722,058	0.91%	278,309,634	492,720	0.70%
Time Deposits	80,070,952	242,532	1.20%	116,154,051	297,696	1.02%
Total Interest Bearing Deposits	529,940,157	1,276,227	0.96%	475,640,304	873,564	0.73%
Other Borrowings	-	-	-	-	-	-
Total Interest Bearing Liabilities	529,940,157	1,276,227	0.96%	475,640,304	873,564	0.73%
Noninterest Bearing Transaction Accounts⁽³⁾	309,493,329			288,947,791
Total Funding Sources	839,433,486			764,588,095
Noninterest Bearing Liabilities	8,439,702			4,907,925
Shareholders' Equity	147,546,390			131,395,519
Total Liabilities and Shareholder's Equity	$995,419,578			$900,891,539
Net Interest Income		$ 9,547,713			$ 9,651,773
Net Interest Margin			4.14%			4.67%

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

Suncrest Bank
Average Balance Sheet and Yields (Unaudited)
For the Twelve Months Ended
	December 31, 2019			December 31, 2018
	Average		Average	Average		Average
	Balance	Interest	Yield/Rate	Balance	Interest	Yield/Rate

Interest Earning Assets:
Deposits in Other Financial Institutions	$ 52,922,647	$ 1,356,575	2.56%	$ 49,317,617	$ 925,138	1.88%
Investment Securities	165,880,866	4,562,274	2.75%	117,125,123	2,899,825	2.48%
Loans	643,274,677	36,926,377	5.74%	527,011,060	30,336,366	5.76%
Total Interest Earning Assets	862,078,190	42,845,226	4.97%	693,453,800	34,161,329	4.93%
Noninterest Earning Assets	87,655,473			62,805,723
Total Assets	$949,733,663			$756,259,523

Interest Bearing Liabilities
Interest Bearing Transaction Accounts	$112,226,061	280,922	0.25%	$ 70,147,520	157,046	0.22%
Savings and Money Market Accounts	316,067,953	3,309,480	1.05%	235,428,381	1,255,774	0.53%
Time Deposits	88,146,328	967,845	1.10%	99,656,127	894,540	0.90%
Total Interest Bearing Deposits	516,440,342	4,558,247	0.88%	405,232,028	2,307,360	0.57%
Other Borrowings	-	-	-	1,751,175	27,325	1.56%
Total Interest Bearing Liabilities	516,440,342	4,558,247	0.88%	406,983,203	2,334,685	0.57%
Noninterest Bearing Transaction Accounts⁽³⁾	283,514,990			242,158,095
Total Funding Sources	799,955,332			649,141,298
Noninterest Bearing Liabilities	8,179,605			3,428,135
Shareholders' Equity	141,598,726			103,690,090
Total Liabilities and Shareholder's Equity	$949,733,663			$756,259,523
Net Interest Income		$ 38,286,979			$ 31,826,644
Net Interest Margin			4.44%			4.59%

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

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

SOURCE Suncrest Bank

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