Welcome to our dedicated page for Summit State Bank news (Ticker: $SSBI), a resource for investors and traders seeking the latest updates and insights on Summit State Bank stock.
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Summit State Bank reported a net income of $1.4 million for the first quarter of 2024 and declared a cash dividend of $0.12 per common share. The bank's financial highlights show a decrease in net income compared to the previous quarters, impacted by challenges in the banking industry. Operating results indicate lower interest income and noninterest income, along with increased operating expenses. The balance sheet review shows a decrease in total deposits and an increase in net loans. Shareholders' equity and tangible book value have also increased. The credit quality remains stable, with a decline in nonperforming assets and no charge-offs during the first quarter.