Welcome to our dedicated page for Summit Bank Group news (Ticker: SBKO), a resource for investors and traders seeking the latest updates and insights on Summit Bank Group stock.
Summit Bank Group Inc. (SBKO) generates a steady flow of news as a commercial banking holding company focused on professionals and medium-sized businesses through its subsidiary, Summit Bank. News coverage commonly highlights quarterly and annual earnings, loan and deposit growth, liquidity and capital metrics, and developments in its Oregon markets, including Eugene and Springfield, Central Oregon, and the Portland metropolitan area.
Investors following SBKO-related news can expect detailed earnings releases that discuss net income, net interest income, loan growth across commercial, commercial real estate, and other loan categories, as well as changes in deposit mix. Management commentary often addresses asset quality, non-performing assets, and the bank’s liquidity position, including cash, securities, and secured borrowing capacity with the Federal Home Loan Bank and the Federal Reserve Bank.
Summit Bank’s news flow also includes announcements about board and advisory board appointments, reflecting the company’s use of local business and community leaders to guide its growth and risk oversight. These items provide context on governance, strategic focus in markets such as Portland and Eugene, and the bank’s relationship-based approach to serving business clients.
In addition, the company regularly reports on recognitions such as inclusion in Oregon’s “Top 100 Companies to Work For,” local “Favorite Bank” and “Best Bank” awards, and recognition by American Banker as one of the top 100 banks in the United States. These stories offer insight into workplace culture and brand reputation. For readers tracking SBKO, this news page aggregates financial results, governance updates, regional expansion, and awards in one place for ongoing reference.
Summit Bank (OTC Pink: SBKO) announces the promotion of Jenny Bennett to Market President for the Eugene and Springfield Market. She succeeds Craig Wanichek, who remains President and CEO. Bennett, previously Senior Vice President of Marketing and Business Development, aims to leverage her experience to enhance Summit's client base. Under her leadership, the bank has seen significant growth. Summit Bank, based in Eugene, specializes in serving medium-sized businesses and was recognized as the top SBA community bank lender in Oregon in 2020.
Summit Bank (OTC Pink: SBKO) announces the appointment of Doug Wolford as Vice President and SBA Program Advisor. With nearly 30 years of experience in the Small Business Administration sector, Doug previously led SBA initiatives at a regional bank across several states, including Oregon and Washington. His expertise aims to enhance relationships with SBA borrowers, providing clients with access to SBA 7(a) loans, SBA Express Lines of Credit, and USDA loans. Summit Bank has been recognized as a top SBA lender in Oregon, indicating a strong commitment to small businesses.
Summit Bank, Oregon's fourth-largest bank, has established the Eugene/Springfield Advisory Board, comprising six local business leaders to provide strategic guidance. Notable members include Kyle Hudson (CEO, IMA Financial), Paula Lafferty (CEO, SnoTemp), and Scott Williams (Chairman, Hamilton Construction). This initiative aims to enhance Summit Bank's mission of being the preferred banking partner for small to medium-sized businesses in Oregon. President Craig Wanichek highlighted the board's diverse expertise as crucial for strengthening the bank's commitment to the community.
Summit Bank (OTC Pink: SBKO) reported Q2 2021 net income of $2.54 million or $0.33 per fully diluted share, a 66% increase from last year. Year-to-date net income reached $4.91 million or $0.65 per share. The bank's net loan growth stood at $76.4 million (16.2%) excluding PPP loans, while total deposits grew by $140.1 million (23.8%) over the past 12 months. Loan quality improved, with non-performing assets at just 0.08% of total assets. Total assets now exceed $800 million, reflecting strong operational management amid the pandemic.
Summit Bank (OTC Pink: SBKO) has introduced a Portland Metropolitan-based Board of Advisors comprising seven experienced leaders aimed at guiding its growth strategy. The board includes professionals from diverse fields such as real estate, insurance, and healthcare. Notable members include Adam K. Abplanalp from Cobalt CPA and David Howitt from Meriwether Group. Market President Jamie Shulman expressed confidence that their expertise will enhance client relationships and strategic decisions. The advisory board will convene quarterly, with its first meeting scheduled for July 20.
Summit Bank (OTC Pink: SBKO) has appointed Angela DeVita as Vice President, Relationship Banking Manager for the Portland Metropolitan and Southwest Washington market. With over 20 years of banking experience, DeVita aims to enhance large deposit relationships and implement tailored Treasury Management solutions for commercial clients. Steve Watts, Team Lead, expressed enthusiasm about her joining, highlighting her expertise in developing business banking relationships. Summit Bank is recognized for high-level service to medium-sized businesses and was awarded the Top SBA Community Bank Lender in Oregon in 2020.
Summit Bank (OTC Pink: SBKO) reported a robust Q1 2021 with net income reaching $2.37 million, a remarkable 111% increase compared to Q1 2020. The bank achieved net loan growth of $38.7 million, up 6.8% from December 2020. Over the trailing 12 months, net loan growth totaled $147.1 million (31.7%). Total deposits grew by $39 million or 6.0%. The return on average equity stood at 14.9%, maintaining profitability with a low 0.27% non-performing asset rate.
Summit Bank Group, Inc. (OTC Pink:SBKO) has announced a five-for-four stock split, payable as a stock dividend. The ex-dividend date is April 9, with shareholders of record by April 1 receiving one extra share for every four held. Chair Paul Weinhold emphasized that the split aims to enhance the stock’s marketability and liquidity. In fiscal 2020, the bank reported net income of $7.93 million, or $1.38 per diluted share, marking a 29% increase from 2019, alongside consistent net loan growth of over 15% for 26 quarters.
Summit Bank (OTC Pink: SBKO) has appointed Jamie Shulman as Market President for the Portland Metropolitan and Southwest Washington areas. With extensive experience in commercial banking, Shulman aims to expand Summit Bank's client base. Previously, he served as President and CEO of a regional business bank and held senior roles at national banks, focusing on strategic planning, risk management, and business development. Shulman's commitment to community engagement is evident as he has participated in various nonprofit organizations. Summit Bank specializes in high-level service for professionals and medium-sized businesses.
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