Summit State Bank

SSBI

Market cap $80.9M

Overview Fund Activity

11.95 USD

+0.09

0.76%

At close Updated Sep 12, 4:00 PM EDT

1 day

0.76%

5 days

1.62%

1 month

0.67%

3 months

20.59%

6 months

41.92%

Year to date

60.62%

1 year

42.6%

5 years

29.19%

10 years

16.81%

About: Summit State Bank provides various banking products and services to individuals and businesses in Sonoma County, California. It offers personal and business checking, money market, sweep, savings, and demand accounts; time certificates of deposit; and specialized deposit accounts, such as professional, small business packaged, tiered, and retirement plan accounts. The company also provides loans, including commercial loans and leases; lines of credit; commercial real estate, small business administration, residential mortgage, and construction loans; home equity lines of credit; and term and equipment loans, as well as loans to agriculture-related businesses.

Employees: 106

Financials Banks - Regional

0

Funds holding %

of 7,462 funds

–

Analysts bullish %

Fund manager confidence

Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)

167% more repeat investments, than reductions

Existing positions increased: 8 | Existing positions reduced: 3

21% more capital invested

Capital invested by funds: $16.2M [Q1] → $19.6M (+$3.4M) [Q2]

11.27% more ownership

Funds ownership: 26.31% [Q1] → 37.59% (+11.27%) [Q2]

0% more funds holding

Funds holding: 18 [Q1] → 18 (+0) [Q2]

See Fund Rankings

Financial journalist opinion

Summit State Bank Earns $2.4 Million, or $0.36 Per Diluted Share, in Second Quarter 2025

SANTA ROSA, Calif., July 29, 2025 (GLOBE NEWSWIRE) -- Summit State Bank (the “Bank”) (Nasdaq: SSBI) today reported net income of $2,417,000, or $0.36 per diluted share for the second quarter ended June 30, 2025, compared to net income of $928,000, or $0.14 per diluted share for the second quarter ended June 30, 2024.

Summit State Bank Earns $2.4 Million, or $0.36 Per Diluted Share, in Second Quarter 2025

Summit State Bank Earns $2.5 Million, or $0.37 Per Diluted Share, in First Quarter 2025

SANTA ROSA, Calif., April 29, 2025 (GLOBE NEWSWIRE) -- Summit State Bank (the “Bank”) (Nasdaq: SSBI) today reported net income of $2,494,000, or $0.37 per diluted share for the first quarter ended March 31, 2025, compared to net income of $1,395,000, or $0.21 per diluted share for the first quarter ended March 31, 2024.

Summit State Bank Earns $2.5 Million, or $0.37 Per Diluted Share, in First Quarter 2025

Summit State Bank Reports Revised Fourth Quarter 2024 Financial Results

SANTA ROSA, Calif., March 28, 2025 (GLOBE NEWSWIRE) -- Summit State Bank (the “Bank”) (Nasdaq: SSBI) today reported that it has revised its fourth quarter and full year 2024 financial results from those announced in the press release dated January 28, 2025. In connection with the preparation and review of its 2024 financial statements, the Bank has concluded it is necessary to record a $693,000 other real estate owned valuation adjustment, a $146,000 increase in reserve for unfunded loans, and a $76,000 credit loss provision reversal for the fourth quarter 2024. The need for the valuation adjustment results from an updated appraisal report obtained in the first quarter of 2025. The additional reserve for unfunded loans and provision reversal results from the Bank's adoption of a new CECL model as of December 31, 2024. The valuation adjustment was expensed against noninterest income and also reduced the Bank's other real estate owned asset. The additional reserve for undisbursed loans and the reversal of the credit losses on loans resulted in a net expense against the provision for credit losses. The income tax provision was adjusted accordingly for all changes noted above.

Summit State Bank Reports Revised Fourth Quarter 2024 Financial Results

Summit State Bank Reports Fourth Quarter 2024 Financial Results

SANTA ROSA, Calif., Jan. 28, 2025 (GLOBE NEWSWIRE) -- Summit State Bank (the “Bank”) (Nasdaq: SSBI) today reported a net loss of $6,605,000, or $0.98 loss per diluted share for the fourth quarter ended December 31, 2024, compared to net income of $1,901,000, or $0.28 per diluted share for the fourth quarter ended December 31, 2023. The current quarter's results were impacted by expenses including a $6,646,000 provision for credit losses on loans and a $4,119,000 one-time non-cash impairment charge to write off the remaining balance of goodwill. The Bank has taken significant charge offs and provisions for credit losses in the fourth quarter of 2024 as a proactive step towards resolving its problem loans. The goodwill impairment was a result of the Bank's stock price trading below book value and is a non-cash charge that does not impact the Bank's cash flows, liquidity, or regulatory capital. The Bank ended the year with improved regulatory capital ratios and is focused on expanding net interest margin in 2025.

Summit State Bank Reports Fourth Quarter 2024 Financial Results

Summit State Bank Reports Net Income of $626,000 for Third Quarter 2024

SANTA ROSA, Calif., Oct. 30, 2024 (GLOBE NEWSWIRE) -- Summit State Bank (the “Bank”) (Nasdaq: SSBI) today reported net income for the third quarter ended September 30, 2024 of $626,000, or $0.09 per diluted share, compared to net income of $1,821,000, or $0.27 per diluted share for the third quarter ended September 30, 2023. Net operating income before credit loss provision and income tax was $2,122,000 for the third quarter ended September 30, 2024 compared to $2,520,000 for the third quarter ended 2023.

Summit State Bank Reports Net Income of $626,000 for Third Quarter 2024

Summit State Bank Declares Quarterly Cash Dividend

SANTA ROSA, Calif., Sept. 12, 2024 (GLOBE NEWSWIRE) -- Summit State Bank's (the “Bank”) (Nasdaq: SSBI) Board of Directors declared the Bank's eighty third consecutive quarterly cash dividend to common shareholders for $0.04 per share on September 11, 2024. The dividend will be paid on October 10, 2024, to shareholders of record on October 3, 2024.

Summit State Bank Declares Quarterly Cash Dividend

Summit State Bank Reports Net Income of $928,000 for Second Quarter 2024

SANTA ROSA, Calif., July 31, 2024 (GLOBE NEWSWIRE) -- Summit State Bank (the “Bank”) (Nasdaq: SSBI) today reported net income for the second quarter ended June 30, 2024 of $928,000, or $0.14 per diluted share, compared to net income of $2,985,000, or $0.45 per diluted share for the second quarter ended June 30, 2023.

Summit State Bank Reports Net Income of $928,000 for Second Quarter 2024

Summit State Bank Reports Net Income of $1.4 Million for First Quarter 2024; Declares Quarterly Cash Dividend of $0.12 Per Common Share

SANTA ROSA, Calif., April 30, 2024 (GLOBE NEWSWIRE) -- Summit State Bank (the “Bank”) (Nasdaq: SSBI) today reported net income for the first quarter ended March 31, 2024 of $1,395,000, or $0.21 per diluted share, compared to net income of $4,116,000, or $0.62 per diluted share for the first quarter ended March 31, 2023.

Summit State Bank Reports Net Income of $1.4 Million for First Quarter 2024; Declares Quarterly Cash Dividend of $0.12 Per Common Share

Summit State Bank welcomes Dr. Frank Chong and James Finley to its Board of Directors

SANTA ROSA, Calif., March 29, 2024 (GLOBE NEWSWIRE) -- Summit State Bank (NASDAQ: SSBI) welcomes Dr. Frank Chong and James Finley, to its Board of Directors. Dr. Chong and Mr. Finley were elected to the Board of Directors at the Bank's Board Meeting held on Monday, February 26, 2024.

Summit State Bank welcomes Dr. Frank Chong and James Finley to its Board of Directors

Summit State Bank Reports Net Income of $10.8 Million for the Year 2023; Declares Quarterly Cash Dividend of $0.12 Per Common Share

SANTA ROSA, Calif., Jan. 30, 2024 (GLOBE NEWSWIRE) -- Summit State Bank (Nasdaq: SSBI) today reported net income for the year ended December 31, 2023 of $10,822,000, or $1.62 per diluted share, a decrease of $6,146,000, or 36%, compared to net income of $16,968,000, or $2.54 per diluted share for the year ended December 31, 2022. For the fourth quarter ended December 31, 2023, net income was $1,901,000, or $0.28 per diluted share, compared to $4,553,000 or $0.68 per diluted share, for the fourth quarter ended December 31, 2022.

Summit State Bank Reports Net Income of $10.8 Million for the Year 2023; Declares Quarterly Cash Dividend of $0.12 Per Common Share

See News Rankings

Charts implemented using Lightweight Charts™