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Summit Bank Group Inc. (SBKO) is a leading financial services firm dedicated to providing a range of banking solutions to businesses and individuals. With a strong emphasis on community banking, Summit Bank Group offers robust personal and commercial banking services, including loans, mortgages, savings accounts, and business financing solutions.
Headquartered in XYZ, the company has built a reputation for reliability and customer-centric services. Summit Bank Group continually invests in technology to enhance the banking experience, offering online and mobile banking options that cater to the evolving needs of its clients.
In recent years, Summit Bank Group has reported consistent financial growth. The company’s strategic partnerships and innovative financial products have contributed to its expanding market presence. One of the recent highlights includes the launch of a new small business loan initiative aimed at supporting local entrepreneurs.
Summit Bank Group’s commitment to social responsibility is evident through its various community outreach programs. The company frequently collaborates with local organizations to promote financial literacy and economic development in underserved communities.
For investors, SBKO provides a stable and promising investment opportunity, backed by strong financial performance and a committed management team focused on sustainable growth.
Summit Bank Group (OTC Pink: SBKO) reported a net income of $2.7 million, or $0.35 per fully diluted share, for Q1 2022, up 15% from $2.37 million in Q1 2021. Year-over-year net loan growth reached $116.0 million (22.4%). Total deposits increased by $134.0 million (19.2%) since March 31, 2021. Notably, the bank maintained a return on average equity of 14.5%. The company had cash and short-term investments of $208.0 million, accounting for 32.6% of net loans. Summit Bank also boasts low non-performing assets at just 0.05% of total assets.
Summit Bank (OTC Pink: SBKO) announced the appointment of Aaron Walker as Chief Credit Officer. With nearly 30 years in banking, Walker's experience includes managing a
Summit Bank's Jenny Bennett has received the 2022 Women of Influence Award, recognizing her significant contributions to Oregon's business community. Since becoming Market President in September 2021, she has led a 109% deposit growth and helped Summit Bank earn the Eugene Mayor’s Bold Steps Award. The award ceremony will take place on March 2, 2022, at the Oregon Convention Center. Bennett is actively involved in multiple banking associations and promotes community banking. Her leadership and commitment to mentoring women in business were highlighted in the announcement.
Summit Bank Group (OTC Pink: SBKO) reported a Q4 2021 net income of $3.04 million ($0.40 per diluted share) and a fiscal year net income of $10.87 million ($1.42 per diluted share), marking a 28.7% increase year-over-year. The bank achieved a net loan growth of $97.3 million (19.0%) and deposit growth of $137.6 million (20.9%) over the past year. However, Q4 earnings slightly declined by $454,000 compared to Q4 2020. The company completed a $20 million subordinated note private placement to support growth, with strong credit metrics and low non-performing assets maintained at 0.05%.
Summit Bank Group, Inc. (OTC Pink: SBKO) announced the successful closure of a private placement totaling
Summit Bank (OTC Pink: SBKO) has announced that Roger Lee, former CEO of Economic Development for Central Oregon, will join the bank as Vice President, Business Client Advisor. With nearly 30 years of experience in economic development, Lee has previously worked on business recruitment and retention. His expertise aims to enhance the business climate in Central Oregon. Market President Gary O’Connell expressed enthusiasm about Lee's capabilities, believing his experience will significantly benefit the bank's efforts in expanding their client base.
Summit Bank (OTC Pink: SBKO) has appointed Maarty Leunen as Assistant Vice President, Market Development Officer. A Central Oregon native, Leunen has a strong analytical background and extensive local business knowledge. He previously played basketball at the University of Oregon and had a successful 13-year international career. Leunen is committed to strengthening community ties and client relationships. Gary O'Connell, Market President, expressed enthusiasm for Leunen's local advocacy and potential contributions to the bank's growth.
Summit Bank (OTC Pink: SBKO) reported Q3 2021 net income of $2.92 million, or $0.38 per diluted share, marking a 41.9% increase year-over-year. Year-to-date net income reached $7.84 million with a diluted share of $1.03, up 76.3%. Total net loans grew by 20.2% to $619.6 million, excluding PPP loans. Deposit growth was robust at 31.9% year-over-year, totaling $826.5 million. Return on equity stood at 16.8% in Q3, showcasing strong profitability amid ongoing expansion.
Summit Bank (OTC Pink: SBKO) has promoted Chris Hemmings to Chief Operating Officer, effective immediately. Hemmings, who has been with the bank since 2008, previously served as Senior Vice President and Chief Administrative Officer. His extensive experience in banking, risk management, and compliance positions him as a strong leader for the bank's growth. Under his leadership, Summit Bank aims to enhance operations, compliance, human resources, and IT services as it specializes in high-level service to professionals and medium-sized businesses.
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