Summit Bank Announces New Office in Westside of Portland

Rhea-AI Summary

Summit Bank (OTC PINK: SBKO) is expanding its operations in the Portland area, with a new office in Washington County, led by veteran banker Greg Oakes. The new location enhances the bank’s presence and aims to leverage the growth in its client base, which has seen significant loan and deposit increases over the past year, primarily in the Westside market. Craig Wanichek, the CEO, emphasized the bank's commitment to local decision-making and community involvement. Summit Bank, recognized as the Top SBA Community Bank Lender in Oregon in 2021, focuses on high-touch personal banking and serves various industries.

Positive

• Expansion into Washington County could increase market share.
• Significant loan and deposit growth reported over the past year.
• Local decision-making approach enhancing community relations.

Negative

• None.

PORTLAND, Ore.--(BUSINESS WIRE)-- Craig Wanichek, President and Chief Executive Officer of Summit Bank (OTC PINK: SBKO), announced today that the Oregon-based business bank is growing its presence in the Portland market and expanding into Washington County. The office will be led by veteran community banker Greg Oakes, who started with Summit Bank on January 23. The office is located at 1915 NE Stucki Ave, Hillsboro, OR, Suite #155.

Greg Oakes, Senior Vice President, Team Leader (Graphic: Business Wire)

Greg Oakes will join the bank as Senior Vice President and Team Leader. Greg has over 34 years of commercial banking experience in the local area. Greg is a graduate of Sunset High School, University of Oregon, and currently serves as the President of the Rotary of Beaverton and is on the Board of Directors of Community Access Services II Inc., a local non-profit that supports individuals with developmental and physical disabilities. This office was opened late last year by Senior Vice President, and Business Client Advisor Joshua Adams. Greg, Josh, Associate Business Client Advisor Zach Weber, Relationship Banking Manager Chris Barron, and Business Banking Associate Fernando Lira will be located at the new office.

“The downtown Portland team led by Brian Thomas has expanded our client base, resulting in significant loan and deposit growth over the past year,” said Craig Wanichek, President and CEO. “Much of that growth congregates in the Westside. This second Portland location will allow us to become even more engrained in the Westside business community.”

According to Oakes, “Summit’s business model is based on local-decision making, by local people and being involved in the communities where we have bank offices. We are extremely proud of our local connections. Josh is a graduate of Portland State University and a resident of Bethany, Zach is a graduate of Oregon State University, Chris works with a variety of local chambers and is vice chair of the North Plains Economic Development Committee, and Fernando is a graduate of Pacific University (MBA) and is the former Student Body President at Pacific.”

“We are very excited for these two terrific teams to work together to continue to grow throughout Portland and SW Washington,” said Wanichek. “We pride ourselves as bankers who build long-term relationships based on knowing our clients, holistically addressing their needs, and providing a consultative approach to business banking.”

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, for the past three years, has been named to Oregon Business Magazine’s Top 100 Best Places to Work.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230201005873/en/

Craig Wanichek, President & Chief Executive Officer 541-684-7500

Source: Summit Bank

FAQ

What is the recent expansion announcement regarding Summit Bank (SBKO)?

Summit Bank is expanding its operations with a new office in Washington County, Portland, to capitalize on client growth.

Who is leading the new Summit Bank office in Washington County?

Greg Oakes, a veteran community banker, is leading the new office.

What financial performance has Summit Bank (SBKO) reported recently?

Summit Bank has reported significant loan and deposit growth over the past year.

Where is the new Summit Bank office located?

The new office is located at 1915 NE Stucki Ave, Hillsboro, OR.