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Thursday, Feb 2, 2023
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Briefs: Superior Industries, Santa Clara Valley Bank

Superior Industries International Inc. Chief Executive Donald Stebbins has been named to the board of directors of Snap-on Inc. Snap-on, in Kenosha, Wis., manufactures tools and equipment for the automotive, aviation, construction and other industries. Stebbins will serve on the board until the Snap-on annual meeting next year at which time he will need to be elected to continue. Stebbins, 56, was appointed chief executive of the Van Nuys-based maker of vehicle wheels in May. He also serves on its board of directors. Snap-on Director W. Dudley Lehman said Stebbins’s operational and financial experience makes him a great addition to the board. “We look forward to his significant contributions to the Snap-on team,” Lehman said in a prepared statement. Sierra Bancorp completed on Friday its acquisition of Santa Clara Valley Bank in a deal valued at $15.3 million in cash and stock. Santa Clara Valley Bank, in Santa Paula, operates three locations, including Valencia. The bank has $129 million in assets. Sierra Bancorp, in Porterville, is the holding company for Bank of Sierra with $1.6 billion in assets, making it the largest independent bank headquartered in the south San Joaquin Valley. When the acquisition was announced in July, Santa Clara Valley Bank Chief Executive Cheryl L. Knight said the two institutions shared a corporate and customer-service culture. “Bank of Sierra is large enough to offer a wide variety of products and services, but small enough to remain a community bank dedicated to serving its customers and communities,” Knight said in a prepared statement.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.
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