Visalia, CA-based Suncrest Bank will acquire Fresno, CA-based Security First Bank in a merger that will create a $425 million franchise in California’s Central Valley.

Suncrest Bank operates four California branches located in Visalia, Porterville, Yuba City and Kingsburg. Security First Bank operates one branch. The combined bank will continue to operate all five branches under the Suncrest Bank name.

MJC Partners acted as financial advisor and delivered a fairness opinion to the board of directors of Security First Bank. Grady & Associates served as legal counsel to Security First Bank. King, Holmes, Paterno & Soriano served as legal counsel to Suncrest Bank. In addition, MJC Partners acted as placement agent in conjunction with the offering by Suncrest Bank.

“We are delighted to be partnering with another local community bank who shares our deep commitment to customer service and community involvement, and who has a proven ability to execute on its strategic plan,” said Steve Jones, president and CEO of Security First. “We are equally delighted for our shareholders and customers who will benefit from the combination of our two organizations.”

Ciaran McMullan, president and CEO of Suncrest Bank said, “I and the entire leadership group at Suncrest are excited by the opportunity to work with the Security First Bank team, and to help them build on the successes they have already achieved. We are particularly pleased to be adding Steve Jones to our team, as he brings a unique combination of real, hands-on community banking leadership experience together with substantial big bank experience in M&A and systems conversion and integration.”

Suncrest Bank also partnered with Castle Creek Capital Partners VI, which will be making an investment of $5.6 million to acquire 678,788 shares of common stock of the bank at $8.25 per share, with the proceeds being used both to support the merger and future organic growth.