Change in Leadership at Summit State Bank; Allan J. Hemphill retires, and James Brush succeeds as Chairman of the Board of Directors
Summit State Bank (NASDAQ: SSBI) announces the retirement of Chairman Allan J. Hemphill after over two decades of service. Hemphill, who held the chairman role since 2011, will be succeeded by board member James Brush, a veteran with significant board committee experience. The bank, with $722 million in assets and $68 million in equity as of March 31, 2020, continues its commitment to exceptional customer service and community support. The appointment of Brush signals continuity in leadership, while Brian Reed joins the board, reinforcing the bank's focus on diverse and inclusive management.
- James Brush's appointment as Chairman may bring stability and continuity to leadership.
- The bank maintains solid financial metrics with $722 million in assets and $68 million in equity.
- Hemphill's retirement may raise concerns about continuity in leadership experience.
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SANTA ROSA, Calif., June 08, 2020 (GLOBE NEWSWIRE) -- Summit State Bank (NASDAQ: SSBI) Chairman of the Board, Allan J. Hemphill confirmed his retirement at today’s Board of Director’s Meeting. Hemphill joined the Board of Directors in 1999 and had held the position of Chairman of the Board since 2011. He continues as President of Hemphill and Associates, a winery consulting and management firm, since 1999.
The Board has named current Board Member, James Brush, to fill the role of Chairman of the Board. Brush was appointed to the Board in 2009 and has served on several Board Committees including Audit, ALCO and Loan, of which he was Chairman. Jim also was President and Chief Executive Officer for four years until he retired in April 2020. In addition, Brian Reed was appointed to its Board of Directors.
“On behalf of the entire board and shareholders, it is with sincere appreciation that we recognize Allan for his dedication and service for the past 21 years. In collaboration with the Board, the Bank has experienced significant growth under Allan’s tenure. I am grateful to have worked closely with Allan and am looking forward to assuming the role of Chairman of the Board,” said James Brush, incoming Chairman of the Board of Summit State Bank.
“It has been an honor and a pleasure to serve on the Board for more than two decades and as the Chairman of the Board of Summit State Bank for nine years. I am confident that our dedicated team of experienced bankers are going to continue serving our customers and community with a continued focus of delivering first-rate customer service. I am very proud of our team and will continue to admire their accomplishments from afar,” said Allan J. Hemphill, retiring Chairman of the Board.
About Summit State Bank
Summit State Bank, a local community bank, has total assets of
Summit State Bank is committed to embracing the diverse backgrounds, cultures and talents of its employees to create high performance and support the evolving needs of its customers and community it serves. At the center of diversity is inclusion, collaboration, and a shared vision for delivering superior service and results for shareholders. Presently,
Brian Reed
President and Chief Executive Officer
Summit State Bank
PO Box 6188
Santa Rosa, CA 95406
(707) 568-4908
breed@summitstatebank.com
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