Santa Cruz County Bank Announces New Chief Financial Officer, Cecilia Situ | Techy Kings
SANTA CRUZ, Calif., November 1, 2022 /PRNewswire/ — Santa Cruz County Bank (OTCQX: SCZC) www.sccountybank.com with assets of $1.86 billiontoday announced Cecilia Situ has joined the Bank as Executive Vice President and Chief Financial Officer.
Ms. Situ brings more than 20 years of comprehensive financial management experience, including financial accounting and SEC reporting, interest rate risk and investment portfolio management, business combinations, financial planning, internal controls and Sarbanes-Oxley procedures, and team development.
Cecilia Situ, Executive Vice President and Chief Financial Officer, Santa Cruz County Bank
Most recently, he was the Senior Vice President and Treasurer at the Bank of Marinepublic trading bank with $4.3 billion in assets, where he was influential in strategizing and managing more than $1.8 billion investment portfolio, financing and liquidity management, with improved capital markets and economic prospects. Throughout his 14 years at the Bank of Marine, he was instrumental in four of their successful bank acquisitions, with strong project management skills and experience in cross-functional due diligence and collaboration. He has also been a Controller and Principal Accounting Officer at the Bank of Marine and has played a key role in directing and overseeing significant financial accounting activities, including financial book-closing, SEC reporting, budgeting, tax planning and regulatory compliance. He began his career in public accounting at Deloitte & Touche with expertise in auditing community banks, real estate firms, non-profit organizations and other financial services companies. Throughout her career, Ms. Situ has earned well-regarded professional designations such as Chartered Financial Analyst (CFA) and California Certified Public Accountant (CPA).
Ms. Situ obtained her Master's degree in Accounting from University of FloridaFisher School of Accounting, and a Bachelor of Business Administration, Accounting from the University of Macau, where he graduated with honors. In his career, he has completed a leadership development program at Dominican UniversityBank of Marine, and Deloitte and is known for its commitment to training and developing its teams. He also serves on the Diversity and Inclusion Committee for Deloitte Sacramento office and participate in the Deloitte Focus Forward program which aims to develop high-performing women leaders.
Commenting on her new appointment, Ms. Situ stated, "It is an honor to join the Santa Cruz County Bank team. I am impressed by the Bank's exceptional performance, growth trajectory, community-focused banking and diverse and experienced leadership team. I look forward to working with the team in strategic financial planning to continue the Bank's success in the coming years."
Krista SnellingPresident and Chief Executive Officer, commented, "We are excited to welcome Cecilia as Chief Financial Officer and look forward to her contributions as a valued member of our executive team. Cecilia's proven financial acumen, demonstrated leadership and level of experience in financial accounting for NASDAQ listed, end $4 billion in an asset-sized financial institution is a perfect fit for Santa Cruz County Bank's growth and future."
The bank previously announced the retirement plans of its Chief Financial Officer, Vic Daviswhich will help support the transition of the Finance Department to Ms. Situ through November 23, 2022.
ABOUT SANTA CRUZ DISTRICT BANK
Santa Cruz County Bank was founded in 2004. It is a top-rated, locally owned and operated, full-service community bank headquartered in Santa Cruz, California. The bank has a branch at Aptos, Capitol, Cupertino, Monterey, Santa Cruz, Scotts Valley and Watsonville. Santa Cruz County Bank is differentiated from the "big banks" by its relationship-based service, problem-solving focus and direct access to decision makers. The bank is a leading SBA lender in Santa Cruz County and Silicon Valley and the leading USDA lender in the state of California. As a full service bank, Santa Cruz County Bank offers competitive deposit and loan solutions for businesses and individuals; including business loans, lines of credit, commercial real estate financing, construction loans, agricultural loans, SBA and USDA government-guaranteed loans, asset-based loans, credit cards, merchant services, remote deposit capture, mobile and online banking, bill payments and treasury management . True to its community roots, Santa Cruz County Bank has supported regional well-being by actively participating and donating to local nonprofit organizations.
Shares of Santa Cruz County Bank are publicly traded on the OTCQX US Premier market under the symbol SCZC. Stock purchase orders can be placed online, through a brokerage firm, or through Market Makers listed in the Investor Relations section of the bank's website. For more information about Santa Cruz County Bank, visit www.sccountybank.com.
This release may contain forward-looking statements that are subject to risks and uncertainties. Such risks and uncertainties may include but are not necessarily limited to fluctuations in interest rates, inflation, government regulations and general economic conditions, and competition in the business areas in which the Bank conducts its operations, including the real estate market in California and others. factors beyond the Bank's control. Such risks and uncertainties could cause results for subsequent interim periods or full years to differ materially from those shown. Readers should not place undue reliance on forward-looking statements, which reflect management's views only as of the date hereof. The Bank undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.
SOURCE Santa Cruz County Bank
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