Building the Heart of Business
Toll Free: (877) 695-4688

Banking & Finance

Central California’s Suncrest Bank Challenges Big Banking With Ambitious, New, Local Banking Model

By securing unlikely, world-class leadership, Suncrest Bank is poised for aggressive growth

VISALIA, Calif., March 6, 2014 /PRNewswire/ – An international banking veteran, who has held senior roles with some of the world’s biggest banks, isn’t whom you might expect to have taken the reins as Chief Executive Officer of a little-known bank in California’s Central Valley, but Ciaran McMullan rarely does what people expect.

First up, an aggressive “5 in 5″ growth plan to take Suncrest Bank from $100 million to $500 million in assets over the next five years.

“I saw Suncrest Bank as an entrepreneurial challenge, to transform it into one of the best community banks in California, and the country,” says McMullan.

McMullan’s track record makes such lofty goals seem possible, having most recently designed and executed National Australia Bank’s highly profitable agribusiness and community banking strategy across the Midwest.

Foundation for Growth: A New Paradigm
Despite international experience – or because of it – McMullan is passionate about America’s small, local communities and their ability to drive the economy.

Since joining Suncrest last April, McMullan has completely overhauled the Bank’s operating model.

“We are turning the typical banking model on its head,” says McMullan. “Today customers are removed from decision-makers and get shuffled around. It’s confusing and annoying, and we can do better.”

Each Suncrest branch will be owned and operated by the community it services, led by a local President, and supported by a local Chairman, immersed in the communities where they live, work and lend. Working with the Board of Directors, McMullan granted stock to every single employee to further local ownership.

“Our branches are small businesses, run by local leaders with the authority to make decisions and service all your needs in one place – the way banking used to be!”

“We believe in the power of community powering communities. This is shopping local and dining local and yes – banking local. If the local economy is doing well, so will the bank. And vice versa.”

Plan for Growth: Leaders, Not Lenders
The heart of the strategy is a genuine local commitment. It is not complicated, but it is unique – and some might say risky – giving control of individual branches to local branch presidents.

“We are hiring leaders – not lenders,” says McMullan. “No one else is doing that.”

In addition to hiring the “brightest, most talented young leaders locally,” McMullan has secured some impressive external advisors. The former CEO of Rabobank NA, Ronald Block, is advising McMullan and the Board on their strategy, and the Bank recently engaged top investment banker, Sandler O’Neill, to advise regarding capital and growth plans.

The Five-Year Plan: “5 in 5″
Today, Suncrest Bank is the fastest growing Bank in its market, and the 14th fastest growing business across all sectors (Fresno Business Journal, 2014 Book of Lists). They closed 2013 at $126 million and reached$150 million in assets, just one month into 2014.

McMullan considers large, national banks – which currently claim 60 to 70% market share in most of the Central Valley – Suncrest’s primary competition.

“We offer the same products and services at a lower cost and with a genuine personal touch,” says McMullan. “It is better for customers to bank locally, where their money is funneled back into the community where they are living, working and raising families. Everyone wins.”

SOURCE Suncrest Bank

4 Comments to “Central California’s Suncrest Bank Challenges Big Banking With Ambitious, New, Local Banking Model”

  1. Hi to every one, ffor the reason that I am truly keen of reading this weblog’s post to be updated on a regular basis.
    It consists of nice stuff.

    My web page; Transportation of Containers (containerking.co.za)

  2. Do you mind if I quote a couple of your posts as long
    as I provide credit and sources back to your webpage?
    My blog site is in the very same niche as yours and my users
    would definitely benefit from a lot of the information you present here.
    Please let me know if this okay with you. Many thanks!

    • Sure that is fine just link it back to our original post thanks!

  3. I’m not that much of a internet reader to be honest but your blogs really nice,
    keep it up! I’ll go ahead and bookmark your site to come back later on.
    All the best

Leave a Reply

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Contact Us

Toll Free: (877) 695-4688
Tel: (360) 695-4688
Fax: (360) 695-4384
Email: careers@mrvancouver.com
700 Washington Street
Suite 204
Vancouver, WA 98660