Santa Cruz County Bank Announces New CFO, Cecilia Situ

PRNewswireNovember 2, 20226 min

Santa Cruz County Bank (OTCQX: SCZC) with assets of $1.86 billion, today announced Cecilia Situ has joined the Bank as Executive Vice President and Chief Financial Officer.

Ms. Situ brings more than 20 years of well-rounded financial management experience, including financial accounting and SEC reporting, interest rate risk and investment portfolio management, business combination, financial planning, Sarbanes-Oxley internal control and procedures, and team development.

Most recently, she was Senior Vice President and Treasurer at Bank of Marin, a publicly traded bank with $4.3 billion in assets, where she was influential in strategizing and managing more than $1.8 billion of investment portfolio, funding and liquidity management, with an appreciation of the capital markets and economic outlook. During her 14-year tenure at Bank of Marin, she played a critical role in their four successful bank acquisitions, with strong project management skills and experience in due diligence and cross-functional collaboration. She was also previously Controller and Principal Accounting Officer at Bank of Marin and had been instrumental in directing and overseeing essential financial accounting activities, including financial book closing, SEC reporting, budgeting, tax planning and regulatory compliance. She started her career in public accounting at Deloitte & Touche with a specialty in auditing community banks, real estate firms, not-for-profit organizations and other financial service companies. During her career, Ms. Situ has obtained well-regarded professional designations such as Chartered Financial Analyst (CFA) and California Certified Public Accountant (CPA).

Ms. Situ obtained her Master of Accounting degree from the University of Florida, Fisher School of Accounting, and her Bachelor of Business Administration, Accounting degree from University of Macau, where she graduated with honors. In her career, she has completed leadership development programs at Dominican University, Bank of Marin, and Deloitte and is known for her commitment to coaching and developing her teams. She also served on the Diversity and Inclusion Committee for Deloitte Sacramento Office and participated in the Deloitte Focus Forward program aimed at developing high-achieving women leaders.

Commenting on her new appointment, Ms. Situ stated, “It is an honor to join the Santa Cruz County Bank team. I was attracted to the Bank’s superb performance, growth trajectory, community-focused banking and a diverse and seasoned leadership team. I look forward to working with the team on strategic financial planning to carry forward the Bank’s success in the years ahead.”

Krista Snelling, President and CEO, 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 a NASDAQ-listed, over $4 billion in asset sized financial institution are an excellent fit for the growth and future of Santa Cruz County Bank.”

The Bank previously announced the planned retirement of its Chief Financial Officer, Vic Davis, who will help support the transition of the Finance Department to Ms. Situ through November 23, 2022.

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