Summit State Bank Welcomes Douglas V. Reynolds, President and Chief Executive Officer of Energy Services of America, to Board of Directors
Summit State Bank (NASDAQ: SSBI) has appointed Douglas Reynolds to its Board of Directors following the bank's annual meeting on May 23, 2022.
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Rhea-AI Summary
Summit State Bank (NASDAQ: SSBI) has appointed Douglas Reynolds to its Board of Directors following the bank's annual meeting on May 23, 2022. Reynolds brings significant management experience, serving as President and CEO of Energy Services of America and as an attorney. His extensive knowledge of the banking industry is seen as an asset to the board. As of March 31, 2022, the bank reported total assets of $981 million and total equity of $84 million, highlighting its commitment to providing exceptional customer service to local businesses and nonprofits.
Positive
- Douglas Reynolds' extensive management experience may enhance board effectiveness.
- Reynolds' banking industry knowledge is beneficial for strategic decisions.
Negative
- None.
Details
News Market Reaction – SSBI
The recorded move for SSBI in the trading session of this news was -0.70%.
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SANTA ROSA, Calif., June 13, 2022 (GLOBE NEWSWIRE) -- Summit State Bank (NASDAQ: SSBI) welcomes Douglas Reynolds to its Board of Directors. Mr. Reynolds was elected to the Board of Directors at the bank’s annual meeting of shareholders held on May 23, 2022.
“We are pleased to welcome Mr. Reynolds as a director. Douglas’ vast experience in managing several businesses in a senior management role makes him an ideal addition to the Board of Directors,” stated James E. Brush, Chairman of the Board.
Currently, Mr. Reynolds is an attorney for Reynolds & Brown, PPLC. He is the President and Chief Executive Officer of Energy Services of America, where he has also served as a director since 2008. He also serves as the President of the Transylvania Corporation and a director of The Harrah and Reynolds Corporation and Premier Financial Bancorp, Inc. Douglas is a graduate of Duke University and holds a law degree from West Virginia University. He is also the son of director Marshall T. Reynolds. His knowledge of the banking industry further solidifies his appointment to 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 to customers and results for shareholders. Presently,
Brian Reed
President and CEO
Summit State Bank
500 Bicentennial Way
Santa Rosa, CA 95406
(707) 568-4908
breed@summitstatebank.com
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