Summit Bank [Or] (SBKO) 15.3600 $SBKO
Summit Bank Reports 2nd Quarter Earnings
BusinessWire - Fri Jul 22, 4:33PM CDT
(OTCBB: SBKO) Summit Bank reported net income for the second quarter of $684 thousand or 29 cents per fully diluted share. Earnings for the comparable period one year ago were $820 thousand or 36 cents per fully diluted share. Year to date earnings were $1.26 million or 53 cents per fully diluted share, compared to $1.39 million or 62 cents that the Bank earned during the first six months of 2015. Reduced income in the Bank's small business equipment lending operation during 2016 relative to 2015 because of higher losses and provision for loan loss expense impacted earnings and offset the improvement that the Bank has achieved in its other operating units. Provision for loan losses for the six months ending June 30, 2016 was $713 thousand, an increase of $336 thousand over the year to date 2015 total of $377 thousand. Fully diluted earnings per share for the trailing four quarters totaled $1.08. Year to date return on assets and return on equity were 1.05% and 11.20%.
Summit Bank Recognized as a Top Performer by Independent Banker, American Banker & SNL
BusinessWire - Thu May 26, 8:00AM CDT
(OTCBB:SBKO) Summit Bank was recognized this month as one of the top community banks in the nation, by multiple sources. In its May issue, The Independent Banker(R), the nation's number one source for community banking news, listed Summit as one of the top 25 community banks in the country compared to banks of comparable asset size. This distinction was based on earnings and operational efficiencies achieved throughout 2015.
Summit Bank Reports 1st Quarter Earnings
BusinessWire - Wed Apr 20, 8:00AM CDT
Summit Bank (OTCBB:SBKO) reported net income for the first quarter of $580 thousand or 24 cents per fully diluted share. Comparable earnings for the first quarter before the impact of startup expenses associated with the Bank's Central Oregon office in Bend were $648 thousand or 27 cents per share, a slight increase per share over Q1 2015 earnings of $569 thousand or 26 cents per fully diluted share. Total net interest and non-interest income for the first quarter increased from $2.5 million in 2015 to $3.0 in 2016, an increase of 17.1%. Fully diluted earnings per share for the trailing four quarters totaled $1.19.
Summit Bank Reports 4th Quarter Earnings
BusinessWire - Thu Jan 28, 8:00AM CST
Summit Bank (OTCBB:SBKO) reported net income for the fourth quarter of $647 thousand or 27 cents per fully diluted share. Comparable earnings for the fourth quarter before the impact of startup expenses associated with the Bank's Central Oregon office in Bend were $779 thousand or 33 cents per share, an increase of 3 cents per share over Q4 2014's earnings of $675 thousand or 30 cents per fully diluted share. Fiscal year earnings were $2.74 million or $1.20 per fully diluted share, representing a 9.0 percent increase over the $1.10 per share that the Bank earned during 2014. 2015 earnings before the impact of the Central Oregon startup activity were $1.32 per share. Non-interest income in 2015 continued to be a significant driver of the Bank's profitability, increasing from $1.2 million in 2014 to $1.5 million in 2015, an increase of 32%. Summit's new Central Oregon office in Bend, which opened in Q3, finished the fiscal year ahead of projections for asset growth and operating performance.
Summit Bank names Jenny Bennett as new AVP and Business Development officer
M2 - Wed Aug 19, 3:58AM CDT
Summit Bank (OTCBB:SBKO) revealed on Wednesday that Jenny Bennett has joined the bank as assistant vice president (AVP) and Business Development officer.
Summit Bank Announces Jenny Bennett as New Business Development Officer
BusinessWire - Tue Aug 18, 7:05PM CDT
Summit Bank (OTCBB:SBKO) is pleased to announce that Jenny Bennett has joined the bank as Assistant Vice President, Business Development Officer. Jenny has spent more than 12 years in community banking. She received her Bachelor of Arts degree from the University of Oregon in Journalism with an emphasis in Public Relations. She currently serves on the board of directors for both the Relief Nursery and the Shedd Institute of the Arts, where she holds the position of Board President.
Summit Bank Reports 2nd Quarter Earnings and Stock Offering Update
BusinessWire - Mon Jul 27, 4:06PM CDT
Summit Bank (OTCBB:SBKO) reported net income for the second quarter of $820 thousand or 36 cents per fully diluted share. Earnings for the comparable period one year ago were $681 thousand or 31 cents per fully diluted share. Year to date earnings were $1.39 million or 62 cents per fully diluted share, representing a 21.6 percent increase over the 51 cents per share that the Bank earned during the first six months of 2014. Year to date non-interest income increased from $427 thousand in 2014 to $707 thousand in 2015, which combined with continued solid loan growth, stable net interest margins, and managed growth of non-interest expenses allowed Summit to achieve its earnings per share increase. Fully diluted earnings per share for the trailing four quarters totaled $1.24.
Summit Bank declares offering of USD2m common stock
M2 - Mon Jun 01, 9:05AM CDT
The bank of directors of Summit Bank (OTCBB:SBKO) unanimously approved an offering of USD2m common stock, the company stated on Thursday.
Summit Bank Announces Stock Offering
BusinessWire - Fri May 29, 8:00AM CDT
Summit Bank (OTCBB:SBKO) announced that the Board of Directors unanimously approved a $2 million offering of common stock. The additional capital will support growth in both the Eugene - Springfield market area as well as our new Central Oregon market area. The Offering will be available to all shareholders and the general public as of June 1, 2015 and is expected to close at 5:00 PM PT on July 27, 2015. The Offering Circular contains important details and disclosures regarding the offering, and may be accessed via Summit's website at:
Summit Bank declares intent to open new office in Oregon
M2 - Tue Mar 24, 4:04AM CDT
Summit Bank (OTCBB:SBKO), a provider of banking services, declared on Monday that it will submit an application to the FDIC to open an office in Bend, Oregon.
Summit Bank Announces Opening an Office in Bend, Oregon
BusinessWire - Mon Mar 23, 8:00AM CDT
Summit Bank (OTCBB:SBKO), headquartered in Eugene, Oregon, announced today that they will submit an application to the FDIC to open an office in Bend, Oregon. This will be Summit's second Oregon location. The proposed office will be located at 560 SW Columbia Street, on the corner of Colorado and Columbia. With this expansion, Summit Bank also plans to add up to 2 additional board members from the Bend area.
Summit Bank Reports 2nd Quarter Earnings
BusinessWire - Fri Jul 22, 4:33PM CDT
(OTCBB: SBKO) Summit Bank reported net income for the second quarter of $684 thousand or 29 cents per fully diluted share. Earnings for the comparable period one year ago were $820 thousand or 36 cents per fully diluted share. Year to date earnings were $1.26 million or 53 cents per fully diluted share, compared to $1.39 million or 62 cents that the Bank earned during the first six months of 2015. Reduced income in the Bank's small business equipment lending operation during 2016 relative to 2015 because of higher losses and provision for loan loss expense impacted earnings and offset the improvement that the Bank has achieved in its other operating units. Provision for loan losses for the six months ending June 30, 2016 was $713 thousand, an increase of $336 thousand over the year to date 2015 total of $377 thousand. Fully diluted earnings per share for the trailing four quarters totaled $1.08. Year to date return on assets and return on equity were 1.05% and 11.20%.
Summit Bank Recognized as a Top Performer by Independent Banker, American Banker & SNL
BusinessWire - Thu May 26, 8:00AM CDT
(OTCBB:SBKO) Summit Bank was recognized this month as one of the top community banks in the nation, by multiple sources. In its May issue, The Independent Banker(R), the nation's number one source for community banking news, listed Summit as one of the top 25 community banks in the country compared to banks of comparable asset size. This distinction was based on earnings and operational efficiencies achieved throughout 2015.
Summit Bank Reports 1st Quarter Earnings
BusinessWire - Wed Apr 20, 8:00AM CDT
Summit Bank (OTCBB:SBKO) reported net income for the first quarter of $580 thousand or 24 cents per fully diluted share. Comparable earnings for the first quarter before the impact of startup expenses associated with the Bank's Central Oregon office in Bend were $648 thousand or 27 cents per share, a slight increase per share over Q1 2015 earnings of $569 thousand or 26 cents per fully diluted share. Total net interest and non-interest income for the first quarter increased from $2.5 million in 2015 to $3.0 in 2016, an increase of 17.1%. Fully diluted earnings per share for the trailing four quarters totaled $1.19.
Summit Bank Reports 4th Quarter Earnings
BusinessWire - Thu Jan 28, 8:00AM CST
Summit Bank (OTCBB:SBKO) reported net income for the fourth quarter of $647 thousand or 27 cents per fully diluted share. Comparable earnings for the fourth quarter before the impact of startup expenses associated with the Bank's Central Oregon office in Bend were $779 thousand or 33 cents per share, an increase of 3 cents per share over Q4 2014's earnings of $675 thousand or 30 cents per fully diluted share. Fiscal year earnings were $2.74 million or $1.20 per fully diluted share, representing a 9.0 percent increase over the $1.10 per share that the Bank earned during 2014. 2015 earnings before the impact of the Central Oregon startup activity were $1.32 per share. Non-interest income in 2015 continued to be a significant driver of the Bank's profitability, increasing from $1.2 million in 2014 to $1.5 million in 2015, an increase of 32%. Summit's new Central Oregon office in Bend, which opened in Q3, finished the fiscal year ahead of projections for asset growth and operating performance.
Summit Bank names Jenny Bennett as new AVP and Business Development officer
M2 - Wed Aug 19, 3:58AM CDT
Summit Bank (OTCBB:SBKO) revealed on Wednesday that Jenny Bennett has joined the bank as assistant vice president (AVP) and Business Development officer.
Summit Bank Announces Jenny Bennett as New Business Development Officer
BusinessWire - Tue Aug 18, 7:05PM CDT
Summit Bank (OTCBB:SBKO) is pleased to announce that Jenny Bennett has joined the bank as Assistant Vice President, Business Development Officer. Jenny has spent more than 12 years in community banking. She received her Bachelor of Arts degree from the University of Oregon in Journalism with an emphasis in Public Relations. She currently serves on the board of directors for both the Relief Nursery and the Shedd Institute of the Arts, where she holds the position of Board President.
Summit Bank Reports 2nd Quarter Earnings and Stock Offering Update
BusinessWire - Mon Jul 27, 4:06PM CDT
Summit Bank (OTCBB:SBKO) reported net income for the second quarter of $820 thousand or 36 cents per fully diluted share. Earnings for the comparable period one year ago were $681 thousand or 31 cents per fully diluted share. Year to date earnings were $1.39 million or 62 cents per fully diluted share, representing a 21.6 percent increase over the 51 cents per share that the Bank earned during the first six months of 2014. Year to date non-interest income increased from $427 thousand in 2014 to $707 thousand in 2015, which combined with continued solid loan growth, stable net interest margins, and managed growth of non-interest expenses allowed Summit to achieve its earnings per share increase. Fully diluted earnings per share for the trailing four quarters totaled $1.24.
Summit Bank declares offering of USD2m common stock
M2 - Mon Jun 01, 9:05AM CDT
The bank of directors of Summit Bank (OTCBB:SBKO) unanimously approved an offering of USD2m common stock, the company stated on Thursday.
Summit Bank Announces Stock Offering
BusinessWire - Fri May 29, 8:00AM CDT
Summit Bank (OTCBB:SBKO) announced that the Board of Directors unanimously approved a $2 million offering of common stock. The additional capital will support growth in both the Eugene - Springfield market area as well as our new Central Oregon market area. The Offering will be available to all shareholders and the general public as of June 1, 2015 and is expected to close at 5:00 PM PT on July 27, 2015. The Offering Circular contains important details and disclosures regarding the offering, and may be accessed via Summit's website at:
Summit Bank declares intent to open new office in Oregon
M2 - Tue Mar 24, 4:04AM CDT
Summit Bank (OTCBB:SBKO), a provider of banking services, declared on Monday that it will submit an application to the FDIC to open an office in Bend, Oregon.
Summit Bank Announces Opening an Office in Bend, Oregon
BusinessWire - Mon Mar 23, 8:00AM CDT
Summit Bank (OTCBB:SBKO), headquartered in Eugene, Oregon, announced today that they will submit an application to the FDIC to open an office in Bend, Oregon. This will be Summit's second Oregon location. The proposed office will be located at 560 SW Columbia Street, on the corner of Colorado and Columbia. With this expansion, Summit Bank also plans to add up to 2 additional board members from the Bend area.
