SUMMIT BANK GROUP INC - SBKO STOCK NEWS

Summit Bank (OTC Pink: SBKO) has announced the hiring of Zak Sundsten as Senior Vice President, Business Client Advisor for its Central Oregon office. With over 25 years of commercial banking experience, Sundsten previously managed a portfolio worth $26MM at Idaho First Bank. He is recognized in Central Oregon's banking community and is expected to enhance the lending team. Summit Bank, noted for its strong service to various industries, was named the Top SBA Community Bank Lender in Oregon in 2021 and one of Oregon Business Magazine’s Top 100 Best Places to Work in 2022.

Summit Bank (OTC Pink: SBKO) has appointed Jackie Costello as Vice President, Business Client Advisor for the Portland and Southwest Washington market. Costello brings over 30 years of banking experience, previously working as a lender in another community bank. Her role will include managing client portfolios and aiding in the growth of Summit Bank's loan and deposit activities. Brian Thomas, the bank's Commercial Banking Team Leader, expressed optimism about her joining, stating her experience will expand the bank's client base.

Summit Bank (OTC Pink: SBKO) has announced the hiring of Joshua Adams as Senior Vice President and Zach Weber as Assistant Vice President. Brian Thomas, the Commercial Banking Team Leader, highlighted their extensive lending experience and strong community relationships in Portland. Adams, a seasoned commercial lender, previously worked at Premier Community Bank and Heritage Bank, while Weber brings experience as a Senior Credit Analyst. Both are expected to enhance Summit Bank's client-focused services in the Portland Metro area.

Summit Bank Group (SBKO) reported Q2 2022 net income of $3.4 million or $0.44 per diluted share, up 33% from Q2 2021. Year-to-date net income reached $6.1 million or $0.80 per diluted share, reflecting a 26% increase. Loan growth was substantial, with a total increase of $111.8 million or 20.4% year-over-year, while deposits grew by $132.7 million or 18.2%. The bank's return on equity improved to 18.0%, and non-performing assets remained low at 0.04%.

Summit Bank (OTC Pink: SBKO) has promoted Jeff Gusinow to Senior Lending Consultant. Gusinow, a seasoned banker with over 30 years of experience, aims to enhance the bank's professional services market. He has a strong community presence and has previously raised over $250,000 for blood cancer research. Market President Jenny Bennett noted Gusinow's commitment to community banking and local business growth. Summit Bank, recognized as a top SBA lender in Oregon, continues to focus on high-touch personal banking and local decision-making.

EUGENE, Ore.--(BUSINESS WIRE)--Summit Bank announces the promotion of Matt Dynice to Senior Vice President, Credit Administrator. With over 20 years in commercial banking, Dynice will enhance the bank's customer service and credit risk management. His previous role as Vice President allowed him to build strong client relationships in Central Oregon. Summit Bank has experienced significant growth, necessitating this new position to sustain future expansion. Summit Bank Group Inc. is quoted as SBKO on the OTC-PINK market.

Summit Bank (OTC Pink: SBKO) has promoted Brian Thomas to Senior Vice President, Commercial Banking Team Leader for its Portland and Southwest Washington teams. CEO Craig Wanichek stated that Thomas is well-suited to help expand the bank's business in these regions. With over 13 years of experience in commercial lending, Thomas will focus on building relationships with local businesses and nonprofits. Summit Bank specializes in personal banking and was recognized as the Top SBA Community Bank Lender in Oregon in 2021.

Summit Bank (OTC Pink: SBKO) has appointed Stacy Koos as Senior Vice President and Market Development Officer for the Eugene/Springfield region. Koos, previously the Commercial Banking Team Leader, will focus on expanding Summit Bank's market presence, particularly in Albany and Corvallis. With over 25 years of banking experience, Koos is recognized for her ability to foster business relationships and drive growth. The announcement was made by Jenny Bennett, Market President for the region.

The Independent Community Bankers of America announced that Craig Wanichek, CEO of Summit Bank, was elected to its Legislative Issues Committee. This committee advocates for community banks, aiming to enhance their role in the economy. Wanichek will engage in grassroots activities in Oregon and work closely with ICBA leadership to promote pro-community bank policies. Under his leadership, Summit Bank has been recognized as a top SBA lender and one of Oregon's best workplaces.