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Summit Bank (OTC PINK: SBKO) has announced the acquisition of a new bank building in Redmond, Oregon, aimed at expanding its business banking presence in Central Oregon. The strategic location at 538 SW Highland Ave will enhance service to local clients, providing ample parking and a modern design after renovations. This acquisition aligns with the bank's growth strategy to meet increasing demand and better serve the financial needs of the Redmond business community. The new facility is expected to open in Fall 2023, following renovations.
Positive
Acquisition of a strategically located bank building in Redmond, enhancing service capabilities.
Expansion aligns with the company's growth strategy and responds to increasing client demand.
Expected opening in Fall 2023 will provide greater convenience and accessibility for clients.
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EUGENE, Ore.--(BUSINESS WIRE)--
Craig Wanichek, President and Chief Executive Officer of Summit Bank (OTC PINK: SBKO), announced today that the Oregon-based business bank acquires a new bank building in Redmond, Oregon. The building, located in downtown Redmond at 538 SW Highland Ave, is a significant addition to the company’s growing business banking market across the region.
The new building is strategically located in a high-traffic area, which will enable the company to better serve its clients in the Redmond community. The facility offers ample parking and will undergo renovation with a modern, state-of-the-art yet timeless design fitting downtown Redmond. The investment aligns with the company's commitment to providing excellent banking service led by business leaders in the community.
Redmond, Oregon has become a hub for businesses in Central Oregon due to its prime location at the intersection of major highways, a growing airport, and a business-friendly environment. The city has a diverse economy, including industries such as technology, manufacturing, and healthcare, and offers a skilled workforce and low cost of living. Additionally, Redmond has an abundance of outdoor recreation opportunities, which makes it an attractive location for both businesses and colleagues seeking a high quality of life.
The acquisition of this new building is part of the company's ongoing efforts to expand its presence in the Central Oregon Region in response to demand. The addition of this new location will provide greater convenience for clients, enhance accessibility, and allow the company to better serve the financial needs of the community.
"We are thrilled to announce the acquisition of this building in Redmond, Oregon," said Craig Wanichek, CEO of Summit Bank. "This is an important step in our growth strategy, and we are confident that this new location will help us better serve our clients in the area. We look forward to continuing to provide exceptional financial services and support to the Redmond business community."
The new bank building is expected to open in the Fall of 2023, following a brief period of renovation and remodeling. The company encourages its clients to stay tuned for updates on the official opening date.
About Summit Bank
Summit Bank Group Inc., through its wholly owned subsidiary Summit Bank, is a leading independent community bank providing outstanding service to professionals and businesses within various industries including manufacturing, healthcare, public entities, and nonprofits. With offices in Eugene, Central Oregon, and downtown Portland, Summit Bank specializes in high-touch personal banking and local decision making. Summit Bank Group Inc. is quoted on the NASDAQ Over-the-Counter Bulletin Board as SBKO. In 2021, Summit Bank was named the Top Small Business Administration (SBA) Community Bank Lender in the State of Oregon and in 2022, has been named to Oregon Business Magazine’s Top 100 Best Places to Work.
