STOCK TITAN
  1. Home
  2. News
  3. SBKO

Summit Bank Group Inc - SBKO STOCK NEWS

Welcome to our dedicated news page for Summit Bank Group (Ticker: SBKO), a resource for investors and traders seeking the latest updates and insights on Summit Bank Group.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Summit Bank Group's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Summit Bank Group's position in the market.

News
Summit Bank Group Reports 2024 1st Quarter Earnings
Rhea-AI Summary
Summit Bank Group (SBKO) reported strong financial performance in Q1 2024 with a net income of $2.4 million or $0.31 per fully diluted share, showing growth from the previous quarters. Net loan growth was impressive at $208.0 million, and deposit growth increased by $84.1 million year over year. The company opened a new office in Redmond, Oregon, aiming to expand its client base. Despite margin pressure, loan growth remained robust, and the equipment lending unit showed improvement, leading to positive quarterly results. Summit Bank Group maintained a highly liquid balance sheet with significant borrowing capacity and total assets. Loan growth, deposit growth, and strong retained earnings contributed to the company's financial strength. Non-performing assets slightly increased but remained at a low level, with the commercial real estate portfolio performing well.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.91%
Tags
earnings
-
News
Summit Bank Announces Strategic Leadership Transition and New Role Creation
Rhea-AI Summary
Summit Bank Group (SBKO) announces a leadership transition with Scott Goldstein moving from CFO to Balance Sheet Risk Officer, and Chris Hemmings appointed as the new CFO. Goldstein's 20-year tenure saw the bank's growth from $1 to $1 billion. Hemmings, with prior experience as Controller, aims to ensure seamless transition and future success.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
management
-
News
Summit Bank: Celebrating 20 Years of Serving Oregon Communities
Rhea-AI Summary
Summit Bank, Oregon's leading community business bank, commemorates its 20th anniversary, highlighting its growth to over one billion in assets and expansion to five offices. The bank's success is attributed to its dedication to local businesses and personalized financial solutions.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.86%
Tags
none
News
Chris Hemmings Named an Executive of the Year by the Portland Business Journal
Rhea-AI Summary
Summit Bank's Chief Operating Officer, Chris Hemmings, has been honored as an Executive of the Year by the Portland Business Journal for his exceptional leadership and contributions to Oregon's business community. Hemmings' strategic insight and dedication have been instrumental in Summit Bank's growth and success, with a strong focus on diversity and inclusion. The award reflects the collective effort of the Summit Bank team and will be celebrated at an upcoming award ceremony.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.3%
Tags
none
-
News
Summit Bank Group Reports 2023 Year and 4th Quarter Earnings
Rhea-AI Summary
Summit Bank Group (SBKO) reported a net income of $8.92 million for fiscal year 2023, with a net loan growth of $175.0 million and deposit growth of $59.8 million. However, the net income for Q4 2023 decreased by 31% due to higher loan charge-off activity and losses on sale of collateral in the Small Commercial Equipment lending unit. The bank's net interest income increased by 2.3% in Q4 2023, but non-interest income decreased by $2.2 million year over year. Non-interest expenses increased by 22% in 2023, impacting the bank's financials. The bank maintained a highly liquid balance sheet with $135 million in cash and available for sale short-term securities, representing 12.5% of total assets. Despite the challenges, the bank continues to maintain capital levels in excess of the requirements to be categorized as 'well-capitalized.'
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
earnings
-
News
Summit Bank Group Reports 2023 3rd Quarter Earnings
Rhea-AI Summary
Summit Bank Group reports Q3 2023 net income of $2.44 million, representing a 6.7% improvement over Q1 2023. Cash and securities total $163 million, representing 15.3% of assets. Net loan growth is $167.2 million or 23.6% year over year.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
earnings
News
Summit Bank's Chris Hemmings Appointed Board Chair for FOOD For Lane County
Rhea-AI Summary
Summit Bank's Chief Operating Officer, Chris Hemmings, has been appointed as the Board Chair for FOOD For Lane County, a leading non-profit organization dedicated to alleviating hunger and building a healthier community. Hemmings brings a wealth of experience to his new role and will leverage his leadership skills to steer the organization toward continued success. His term as Board Chair will span from July 1, 2023, to June 30, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.42%
Tags
none
-
News
Summit Bank Achieves Top Position as Number One Small Business Administration (SBA) 7(a) Lender in Oregon
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none
-
News
Summit Bank Group Reports 2023 2nd Quarter Earnings
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.08%
Tags
earnings
News
Summit Bank Group Reports 2023 1st Quarter Earnings and Record Asset Size
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.02%
Tags
earnings
Stock SBKO logo
Summit Bank Group Inc

OTC:SBKO

SBKO Rankings

N/A Ranked by Market Cap
N/A Ranked by Stock Gains
N/A Ranked by Dividends

SBKO Stock Data

7.38M
6.02M
1.39%
Commercial Banking
Finance and Insurance
Link
United States
Eugene