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Summit Bank Group Reports 2026 2nd Quarter Earnings

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EUGENE, Ore.--(BUSINESS WIRE)-- Summit Bank Group (OTCID: SBKO)

  • Q2 2026 Net Income - $4.13 million or $0.52 per fully diluted share, an increase of 24.1 percent over Q2 2025.
  • Year to date 2026 earnings per fully diluted share increased 37.4 percent over the previous year.
  • Cash and Securities total $153.5 million – 11.5 percent of assets, increased from 10.5 percent as of Q2 2025.
  • Year over year Net Loan Growth - $58.3 million or 5.4 percent.
  • Year over year Deposit Growth - $60.1 million or 5.5 percent.
  • Year to date 2026 Net Interest Income increased $2.1 million or 7.7 percent over the previous year.

Summit Bank Group reported net income for the second quarter of $4.13 million or 52 cents per fully diluted share. Comparable earnings for second quarter of 2025 were $3.33 million or 42 cents per fully diluted share, representing an increase of 24.1 percent or 10 cents to earnings and earnings per fully diluted share respectively. Net interest income was $1.0 million higher during Q2 2026 than Q2 2025, or 7.4 percent. Provision for loan losses improved by $0.3 million and $0.4 million higher noninterest income offset $621 thousand of growth-related increases to noninterest expense resulting in strong earnings for the quarter.

“Our year-over-year results reflect the loyalty of our clients and the disciplined execution of our long-term strategy. We remain focused on building meaningful relationships and that clients value a bank that is local, responsive and deeply committed to the communities we serve,” said Craig Wanichek, president and chief executive officer. “Trailing 4 quarter earnings per share has now increased for a tenth consecutive quarter.”

The Bank continues to achieve balanced growth in its loan and deposit portfolios, with total net loans increasing by $58.3 million or 5.4 percent and total deposits increasing by $60.1 million or 5.5 percent over the most recent four quarters. The deposit growth consisted entirely of demand and money market account balances over the period, increasing by $72.4 million or 6.8 percent, as total certificates of deposit balances decreased by $12.3 million.

“We are pleased to see deposit growth increasingly driven this year by core relationships, which is an encouraging indicator of the trust our clients place in Summit Bank by choosing us for the relationship, not just the rate,” said Wanichek. “In addition, $27.6 million in quarterly loan growth, or 2.5%, demonstrated positive momentum in loan origination efforts.”

The Bank’s balance sheet remains highly liquid with cash and Available for Sale (AFS) short-term securities totaling $153.5 million, which represents 11.5 percent of total assets as of June 30, 2026, increased from $131.6 million or 10.5 percent of assets as of June 30, 2025. Additionally, the Bank maintains secured borrowing commitments from the Federal Home Loan Bank and the Federal Reserve Bank with total available borrowing capacity as of June 30, 2026 of $378 million, an increase of $63 million over the June 30, 2025 total available. Combined, the Bank’s cash and available secured borrowing as of June 30, 2026 total $477 million. This total is 35.9 percent of total assets and 125 percent of total estimated uninsured deposits as of June 30, 2026. Return on average equity for the second quarter, the 2026 year to date and the trailing four quarters was 12.5 percent, 13.3 percent, and 13.4 percent respectively. Total shareholders’ equity ended the second quarter at $133.8 million, an increase of $18.0 million or 15.6 percent since June 30, 2025. As the Company continues its 23rd year of operations, capital levels remain very strong, supporting its consistent asset growth with similarly strong retained earnings which have totaled $62.8 million over the last five years.

Total non-performing assets as of June 30, 2026 were 0.46 percent of total assets. This total decreased during the second quarter from 0.54 percent of total assets as of March 31, 2026. Substantially all of the Bank’s total non-performing assets as of June 30, 2026 carry US Small Business Administration guarantees which reduce the Bank’s exposure to losses on the assets. The total exposure to the Bank after such federal guarantees are applied is reduced to 0.13 percent of total assets.

Summit Bank Group Inc., through its wholly owned subsidiary Summit Bank, maintains offices in Eugene, Central Oregon, and Portland, specializing in providing high-level service to professionals and medium-sized businesses and their owners. The Bank was voted for the fifth year in a row as one of Oregon’s “Top 100 Companies to Work For,” according to Oregon Business Magazine. In 2023, 2025 and 2026, Summit Bank was honored as “Favorite Bank” in the Eugene Register-Guard’s annual Reader’s Choice Awards and “Best Bank” by Central Oregon’s Bend Bulletin. Summit Bank Group Inc. is quoted on the OTCID under the symbol SBKO. It was named in January as a Top 10 Place to Work for Working Parents, according to the Eugene Area Chamber of Commerce.

 

QUARTERLY FINANCIAL REPORT – June 30, 2026

 
(in thousands except per share data)

Unaudited

Unaudited

Unaudited

As of

As of

As of

Summary Statements of Condition

Jun. 30, 2026

Mar. 31, 2026

Jun. 30, 2025

Cash and short term investments

$

123,465

 

$

177,682

 

$

90,253

 

Securities

 

30,006

 

 

26,671

 

 

41,313

 

Loans:
Commercial

 

329,612

 

 

335,212

 

 

358,627

 

Commercial real estate

 

761,593

 

 

745,581

 

 

406,305

 

Other

 

66,484

 

 

48,974

 

 

333,399

 

Loan loss reserve and unearned income

 

(13,088

)

 

(12,802

)

 

(12,044

)

Total net loans

 

1,144,601

 

 

1,116,966

 

 

1,086,288

 

Property and other assets

 

31,665

 

 

30,132

 

 

29,970

 

Repossessed property

 

81

 

 

84

 

 

276

 

Total assets

$

1,329,818

 

$

1,351,534

 

$

1,248,100

 

 
Deposits:
Noninterest-bearing demand

$

204,669

 

$

192,283

 

$

174,872

 

Interest-bearing demand

 

940,898

 

 

980,948

 

 

898,237

 

Certificates of deposit

 

16,441

 

 

16,522

 

 

28,768

 

Total deposits

 

1,162,009

 

 

1,189,754

 

 

1,101,876

 

Subordinated debt

 

18,541

 

 

18,532

 

 

18,503

 

Other liabilities

 

15,464

 

 

13,871

 

 

11,931

 

Shareholders' equity

 

133,804

 

 

129,377

 

 

115,789

 

Total liabilities and shareholders' equity

$

1,329,818

 

$

1,351,534

 

$

1,248,100

 

 
Book value per share

$

16.96

 

$

16.43

 

$

14.85

 

 

Unaudited

Unaudited

Unaudited

Unaudited

Unaudited

For the six
months ended

For the three
months ended

For the six
months ended

For the three
months ended

For the three
months ended

Summary Statements of Income

Jun. 30, 2026

Mar. 31, 2026

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Interest income

$

40,542

 

$

19,874

 

$

40,014

 

$

20,668

 

$

20,131

 

Interest expense

 

(10,925

)

 

(5,302

)

 

(12,518

)

 

(5,623

)

 

(6,117

)

Net interest income

 

29,617

 

 

14,572

 

 

27,496

 

 

15,045

 

 

14,014

 

Provision for loan losses

 

(2,397

)

 

(866

)

 

(3,811

)

 

(1,530

)

 

(1,859

)

Noninterest income

 

1,589

 

 

779

 

 

632

 

 

810

 

 

450

 

Noninterest expense

 

(16,930

)

 

(8,252

)

 

(15,784

)

 

(8,677

)

 

(8,056

)

Net income before income taxes

 

11,879

 

 

6,232

 

 

8,533

 

 

5,648

 

 

4,549

 

Provision for income taxes

 

(3,191

)

 

(1,673

)

 

(2,282

)

 

(1,518

)

 

(1,223

)

Net income

$

8,688

 

$

4,559

 

$

6,252

 

$

4,130

 

$

3,327

 

 
Net income per share, basic

$

1.11

 

$

0.58

 

$

0.81

 

$

0.52

 

$

0.43

 

Net income per share, fully diluted

$

1.10

 

$

0.58

 

$

0.80

 

$

0.52

 

$

0.42

 

 

Unaudited

Unaudited

Unaudited

Unaudited

Unaudited

For the six
months ended

For the three
months ended

For the six
months ended

For the three
months ended

For the three
months ended

Performance Ratios

Jun. 30, 2026

Mar. 31, 2026

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Return on Average Assets

 

1.32

%

 

1.39

%

 

1.01

%

 

1.23

%

 

1.08

%

Return on Average Tangible Common Equity

 

13.35

%

 

14.36

%

 

11.14

%

 

12.55

%

 

11.68

%

Net Interest Margin

 

4.77

%

 

4.68

%

 

4.63

%

 

4.86

%

 

4.74

%

Yield on Earning Assets

 

6.53

%

 

6.38

%

 

6.74

%

 

6.67

%

 

6.81

%

Cost of Deposits

 

1.83

%

 

1.81

%

 

2.21

%

 

1.85

%

 

2.18

%

Efficiency Ratio

 

54.0

%

 

53.3

%

 

55.4

%

 

53.9

%

 

54.9

%

EPS Growth (YoY)

 

37.4

%

 

54.2

%

 

21.4

%

 

22.6

%

 

22.3

%

 
Asset Quality
Non-performing assets to Total Assets

 

0.46

%

 

0.54

%

 

0.04

%

 

0.46

%

 

0.04

%

Net Charge Offs to Average Loans

 

0.42

%

 

0.38

%

 

0.54

%

 

0.46

%

 

0.36

%

Reserve to Total Loans

 

1.14

%

 

1.13

%

 

1.25

%

 

1.14

%

 

1.24

%

Provision Expense to Total Loans

 

0.42

%

 

0.31

%

 

0.71

%

 

0.54

%

 

0.68

%

 
Capital
Tier 1 Capital to Risk Weighted Assets

 

12.6

%

 

12.5

%

 

11.9

%

 

12.6

%

 

11.9

%

Community Bank Leverage Ratio (CBLR)

 

11.3

%

 

11.4

%

 

10.8

%

 

11.3

%

 

10.8

%

 
Average Balances
Loans

$

1,132,789

 

$

1,126,352

 

$

1,076,917

 

$

1,139,227

 

$

1,090,988

 

Assets

$

1,317,851

 

$

1,295,825

 

$

1,241,984

 

$

1,238,725

 

$

1,234,463

 

Deposits

$

1,157,067

 

$

1,136,896

 

$

1,099,142

 

$

1,177,237

 

$

1,090,424

 

 

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

Source: Summit Bank Group

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