Price$13.70+2.06 (+17.70%)
2026-01-212026-04-24
News · 26 weeks10%
2025-11-022026-04-26
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Latest news
25 items- PRSummit State Bank Earns $1,067,000, or $0.16 Per Diluted Share, in Fourth Quarter 2025SANTA ROSA, Calif., Jan. 27, 2026 (GLOBE NEWSWIRE) -- Summit State Bank (the "Bank") (NASDAQ:SSBI) today reported net income of $1,067,000, or $0.16 per diluted share for the fourth quarter ended December 31, 2025, compared to net loss of $7,142,000, or $1.06 loss per diluted share for the fourth quarter ended December 31, 2024. For the year ended December 31, 2025, the Bank reported net income of $6,796,000, or $1.01 per diluted share compared to a net loss of $4,193,000, or $0.62 loss per diluted share for the year ended December 31, 2024. "In 2025, our focus was on building a strong foundation for the future, and we made meaningful progress toward that goal," said Brian Reed, P
- PRSummit State Bank Earns $818,000, or $0.12 Per Diluted Share, in Third Quarter 2025SANTA ROSA, Calif., Oct. 29, 2025 (GLOBE NEWSWIRE) -- Summit State Bank (the "Bank") (NASDAQ:SSBI) today reported net income of $818,000, or $0.12 per diluted share for the third quarter ended September 30, 2025, compared to net income of $626,000, or $0.09 per diluted share for the third quarter ended September 30, 2024. "The Bank delivered steady operating results in the third quarter of 2025, marking our third consecutive quarter of solid earnings," said Brian Reed, President and CEO. "Our operating performance was supported by higher net interest income and continued margin expansion compared to the same period last year. While we've made significant headway in resolving the problem l
- PRSummit State Bank Earns $2.4 Million, or $0.36 Per Diluted Share, in Second Quarter 2025SANTA ROSA, Calif., July 29, 2025 (GLOBE NEWSWIRE) -- Summit State Bank (the "Bank") (NASDAQ:SSBI) today reported net income of $2,417,000, or $0.36 per diluted share for the second quarter ended June 30, 2025, compared to net income of $928,000, or $0.14 per diluted share for the second quarter ended June 30, 2024. "We delivered strong operating results in the second quarter of 2025 – our second consecutive quarter of solid earnings - driven by robust net interest income and meaningful margin expansion," said Brian Reed, President and CEO. "With notable progress made in addressing problem loans that weighed on 2024 results, we are encouraged by the momentum in our earnings outloo
- PRSummit State Bank Earns $2.5 Million, or $0.37 Per Diluted Share, in First Quarter 2025SANTA ROSA, Calif., April 29, 2025 (GLOBE NEWSWIRE) -- Summit State Bank (the "Bank") (NASDAQ:SSBI) today reported net income of $2,494,000, or $0.37 per diluted share for the first quarter ended March 31, 2025, compared to net income of $1,395,000, or $0.21 per diluted share for the first quarter ended March 31, 2024. "Our operating performance for the first quarter of 2025 was a significant improvement over the prior quarter, fueled by strong net interest income generation and net interest margin expansion," said Brian Reed, President and CEO. "We are feeling positive about our earnings trajectory, as we have made significant progress in resolving problem loans which negatively impacted
- PRSummit State Bank Reports Revised Fourth Quarter 2024 Financial ResultsSANTA ROSA, Calif., March 28, 2025 (GLOBE NEWSWIRE) -- Summit State Bank (the "Bank") (NASDAQ:SSBI) today reported that it has revised its fourth quarter and full year 2024 financial results from those announced in the press release dated January 28, 2025. In connection with the preparation and review of its 2024 financial statements, the Bank has concluded it is necessary to record a $693,000 other real estate owned valuation adjustment, a $146,000 increase in reserve for unfunded loans, and a $76,000 credit loss provision reversal for the fourth quarter 2024. The need for the valuation adjustment results from an updated appraisal report obtained in the first quarter of 2025. The addition
- PRSummit State Bank Reports Fourth Quarter 2024 Financial ResultsSANTA ROSA, Calif., Jan. 28, 2025 (GLOBE NEWSWIRE) -- Summit State Bank (the "Bank") (NASDAQ:SSBI) today reported a net loss of $6,605,000, or $0.98 loss per diluted share for the fourth quarter ended December 31, 2024, compared to net income of $1,901,000, or $0.28 per diluted share for the fourth quarter ended December 31, 2023. The current quarter's results were impacted by expenses including a $6,646,000 provision for credit losses on loans and a $4,119,000 one-time non-cash impairment charge to write off the remaining balance of goodwill. The Bank has taken significant charge offs and provisions for credit losses in the fourth quarter of 2024 as a proactive step towards resolving its
- PRSummit State Bank Reports Net Income of $626,000 for Third Quarter 2024SANTA ROSA, Calif., Oct. 30, 2024 (GLOBE NEWSWIRE) -- Summit State Bank (the "Bank") (NASDAQ:SSBI) today reported net income for the third quarter ended September 30, 2024 of $626,000, or $0.09 per diluted share, compared to net income of $1,821,000, or $0.27 per diluted share for the third quarter ended September 30, 2023. Net operating income before credit loss provision and income tax was $2,122,000 for the third quarter ended September 30, 2024 compared to $2,520,000 for the third quarter ended 2023. In September 2024 the Bank declared its eighty-third consecutive quarterly cash dividend. "In this time of economic uncertainty, the Board is focused on balancing its commitment to share
- PRSummit State Bank Declares Quarterly Cash DividendSANTA ROSA, Calif., Sept. 12, 2024 (GLOBE NEWSWIRE) -- Summit State Bank's (the "Bank") (NASDAQ:SSBI) Board of Directors declared the Bank's eighty third consecutive quarterly cash dividend to common shareholders for $0.04 per share on September 11, 2024. The dividend will be paid on October 10, 2024, to shareholders of record on October 3, 2024. "The current rate environment, and its impact on earnings, led to our decision to reduce the quarterly cash dividend. The dividend reduction reflects the Bank's deliberate approach to build capital," said Brian Reed, President and CEO. "We recognize the importance and impact of the dividend reduction on all of our shareholders, and it was not mad
- PRSummit State Bank Reports Net Income of $928,000 for Second Quarter 2024SANTA ROSA, Calif., July 31, 2024 (GLOBE NEWSWIRE) -- Summit State Bank (the "Bank") (NASDAQ:SSBI) today reported net income for the second quarter ended June 30, 2024 of $928,000, or $0.14 per diluted share, compared to net income of $2,985,000, or $0.45 per diluted share for the second quarter ended June 30, 2023. "Our second quarter earnings continue to be directly impacted by the high interest rate environment and its impact on funding costs, a challenge that is affecting the entire banking industry," said Brian Reed, President and CEO. "We are implementing steps to grow net income and remain focused on improving our financial performance. Loan balances decreased modestly during the s
- NEWSSummit State Bank Q1 EPS $0.21 Down From $0.62 YoYSummit State Bank (NASDAQ:SSBI) reported quarterly earnings of $0.21 per share. This is a 66.13 percent decrease over earnings of $0.62 per share from the same period last year.
- PRSummit State Bank Reports Net Income of $1.4 Million for First Quarter 2024; Declares Quarterly Cash Dividend of $0.12 Per Common ShareSANTA ROSA, Calif., April 30, 2024 (GLOBE NEWSWIRE) -- Summit State Bank (the "Bank") (NASDAQ:SSBI) today reported net income for the first quarter ended March 31, 2024 of $1,395,000, or $0.21 per diluted share, compared to net income of $4,116,000, or $0.62 per diluted share for the first quarter ended March 31, 2023. The Board of Directors declared the Bank's eighty second consecutive quarterly cash dividend for common shareholders of $0.12 per share on April 29, 2024. It will be paid on May 23, 2024, to shareholders of record on May 16, 2024. "First quarter earnings were impacted by current challenges facing the entire banking industry. We are implementing steps to reverse declines in
- PRSummit State Bank welcomes Dr. Frank Chong and James Finley to its Board of DirectorsSANTA ROSA, Calif., March 29, 2024 (GLOBE NEWSWIRE) -- Summit State Bank (NASDAQ:SSBI) welcomes Dr. Frank Chong and James Finley, to its Board of Directors. Dr. Chong and Mr. Finley were elected to the Board of Directors at the Bank's Board Meeting held on Monday, February 26, 2024. "We are pleased to welcome Dr. Chong and Mr. Finley as directors. Frank served as Superintendent/President of Santa Rosa Junior College, has a vast knowledge of the Sonoma County community and possesses strong leadership experience. Mr. Finley was selected for his knowledge of the financial services industry and business acumen," stated Josh Cox, Chairman of the Board. Currently, Dr. Chong serves as President
- NEWSUnleashing Growth Potential: Summit State Bank Surpasses Expectations with Strong Performance and Increasing ProfitsToday, February 15, 2024, Summit State Bank (NASDAQ:SSBI) will distribute a dividend payout of $0.12 per share, highlighting an annualized dividend yield of 4.03%. Shareholders who owned the stock before the ex-dividend date on February 07, 2024 will be eligible for this payout. Summit State Bank Recent Dividend Payouts table { width: 100%; border-collapse: collapse; font-family: Arial, sans-serif; font-size: 14px; } th, td { padding: 8px; text-align: left; } th { background-color: #293a5a; color: #fff; text-align: left; } tr:
- NEWSTuesday Is Your Last Chance To Buy Summit State Bank Before The Dividend PayoutTuesday marks the last chance for investors to receive the next dividend payout from Summit State Bank (NASDAQ:SSBI). What's Happening The company announced on Monday that it would pay shareholders a quarterly dividend of 12 cents per share. On Wednesday, Summit State Bank will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 12 cents lower than it would have opened on any other day. In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Wednesday. Shareholders who own SSBI as of the end of Tuesday's session are eligible to receive the 12 cents
- NEWSSummit State Bank Q4 EPS $0.28 Down From $0.68 YoY; Revenue $15.333M Down From $16.320M YoY
- PRSummit State Bank Reports Net Income of $10.8 Million for the Year 2023; Declares Quarterly Cash Dividend of $0.12 Per Common ShareSANTA ROSA, Calif., Jan. 30, 2024 (GLOBE NEWSWIRE) -- Summit State Bank (NASDAQ:SSBI) today reported net income for the year ended December 31, 2023 of $10,822,000, or $1.62 per diluted share, a decrease of $6,146,000, or 36%, compared to net income of $16,968,000, or $2.54 per diluted share for the year ended December 31, 2022. For the fourth quarter ended December 31, 2023, net income was $1,901,000, or $0.28 per diluted share, compared to $4,553,000 or $0.68 per diluted share, for the fourth quarter ended December 31, 2022. The Board of Directors declared a quarterly cash dividend of $0.12 per share on January 29, 2024. The quarterly dividend will be paid on February 15, 2024 to sh
- NEWSSummit State Bank Q3 EPS $0.27 Down From $0.59 YoYSummit State Bank (NASDAQ:SSBI) reported quarterly earnings of $0.27 per share. This is a 54.24 percent decrease over earnings of $0.59 per share from the same period last year.
- PRSummit State Bank Reports Net Income of $1.8 Million for Third Quarter 2023; Declares Quarterly Cash Dividend of $0.12 Per Common ShareSANTA ROSA, Calif., Oct. 25, 2023 (GLOBE NEWSWIRE) -- Summit State Bank (NASDAQ:SSBI) today reported net income for the third quarter ended September 30, 2023 of $1,821,000, or $0.27 per diluted share, a decrease of $2,158,000, or 54.2%, compared to net income of $3,979,000, or $0.59 per diluted share for the third quarter ended September 30, 2022. Financial results for the quarter reflect strong non-interest income resulting from increased gain on sale of loans. Lower net interest income resulting from an increase in interest expense on deposits offset aforementioned increase in non-interest income. The Board of Directors declared a quarterly cash dividend of $0.12 per share on October 2
- NEWSSummit State Bank Empowers Investors with Solid Returns and Fueling Shareholder ValueToday, August 17, 2023, marks an important moment for investors of Summit State Bank (NASDAQ:SSBI). The company will distribute a dividend payout of $0.12 per share, demonstrating an annualized dividend yield of 2.77%. Remember, only shareholders prior to the ex-dividend date on August 09, 2023 are eligible for this payout. Summit State Bank Recent Dividend Payouts table { width: 100%; border-collapse: collapse; font-family: Arial, sans-serif; font-size: 14px; } th, td { padding: 8px; text-align: left; } th { background-color: #293a5a; color: #fff;
- PRSummit State Bank Comments on Big Poppy Bancorp, Inc.'s Federal Reserve ApplicationSANTA ROSA, Calif., July 27, 2023 (GLOBE NEWSWIRE) -- Summit State Bank (NASDAQ:SSBI) ("Summit") announced today that it is aware that Big Poppy Holdings, Inc. ("Poppy") has published a notice stating that it holds 332,464 shares of Summit's common stock, which is approximately 4.9% of the outstanding shares, and that it intends to file an application with the Federal Reserve Board to acquire up to 24.99% of Summit's common stock. Poppy is the holding company for Poppy Bank, which is headquartered in Santa Rosa, California. Summit State Bank's Board of Directors will review Poppy's application and may comment on or respond to the application in due course. About Summit State Bank Founde
- NEWSSummit State Bank Q2 EPS $0.45 Down From $0.67 YoY, Sales $11.11M Down From $12.66M YoYSummit State Bank (NASDAQ:SSBI) reported quarterly earnings of $0.45 per share. This is a 32.84 percent decrease over earnings of $0.67 per share from the same period last year. The company reported $11.11 million in sales this quarter. This is a 12.19 percent decrease over sales of $12.66 million the same period last year.
- PRSummit State Bank Reports Net Income of $3.0 Million for Second Quarter 2023; Declares Quarterly Cash Dividend of $0.12 Per Common ShareSANTA ROSA, Calif., July 25, 2023 (GLOBE NEWSWIRE) -- Summit State Bank (NASDAQ:SSBI) today reported net income for the second quarter ended June 30, 2023 of $2,985,000, or $0.45 per diluted share, a decrease of $1,516,000, or 33.7%, compared to net income of $4,501,000, or $0.67 per diluted share for the second quarter ended June 30, 2022. Financial results for the quarter reflect strong net interest income offset by lower non-interest income resulting from reduced gain on sale of loan activity. Additionally, a quarterly dividend of $0.12 per share was declared for common shareholders. The Board of Directors declared a quarterly cash dividend of $0.12 per share on July 24, 2023. The quar
- PRSummit State Bank Named to CB Durable Performance Index™SANTA ROSA, Calif., June 21, 2023 (GLOBE NEWSWIRE) -- Summit State Bank (NASDAQ:SSBI) announced that the bank has been named to the CB Durable Performance Index™ for 1Q 2023. The index highlights banks who have maintained above average performance over the course of the last 3 years by aggregating and analyzing performance and regulatory data. The report identified high performing banks by scoring 11 key performance indicators regularly used in analyzing bank value. "We are delighted to be named to the CB Durable Performance Index™," said Brian Reed, President and CEO. "Our inclusion, which was just announced this month, recognizes our performance in the midst of a very challenging nation
- PRSummit State Bank Ranks #18 on American Banker Magazine's Top 200 Publicly Traded Community Banks listSANTA ROSA, Calif., June 20, 2023 (GLOBE NEWSWIRE) -- Summit State Bank (NASDAQ:SSBI) announced that the bank has once again been named to American Banker Magazine's Top 200 Publicly Traded Community Banks list. In its June 12, 2023 article, American Banker ranked Summit State Bank 18th on its Top 200 Publicly Traded Community Banks list based on three-year average return on equity ("ROE") as of 12/31/22 (Source: Capital Performance Group). The rankings include publicly-traded banks with less than $2 billion in assets. "We are honored to have made American Banker's Top 200 list," said Brian Reed, President and CEO. "Being listed in the Top 200 is a validation of our success in focusing on
- PRSummit State Bank Recognized Among Top Performing Banks by the Independent Community Bankers AssociationSANTA ROSA, Calif., May 22, 2023 (GLOBE NEWSWIRE) -- Summit State Bank (NASDAQ:SSBI) has been recognized by the Independent Community Bankers Association (ICBA) as one of the 2023 Top Performing Banks and the only California bank to be recognized in the More Than a Billion category. ICBA is a member-based trade organization comprised of community banks throughout the United States. The ICBA recognizes consistently high-performing banks utilizing FDIC data, taking into account pre-tax return-on-assets (ROA) figures for the past three years, with the most recent year weighted at 3 times, the second most recent year at 2 times and the third most recent year at 1 time. The qualifying banks are
SSBI FAQ
6 questionsWhat does Summit State Bank do?
Summit State Bank provides various banking products and services to individuals and businesses primarily in Sonoma County, California. It offers personal and business checking, money market, sweep, savings, and demand accounts; time certificates of deposit; and specialized deposit accounts, such as professional, small business packaged, tiered, individual retirement, and other retirement plan accounts. The company also provides loans, including commercial loans and leases; lines of credit; commercial real estate, small business administration, residential mortgage, and construction loans; and...Where does SSBI stock trade?
Summit State Bank (SSBI) is listed on NASDAQ.What sector and industry is SSBI in?
Summit State Bank operates in the Finance sector, Major Banks industry.When did Summit State Bank go public?
Summit State Bank (SSBI) completed its IPO in 2006.What companies are similar to SSBI?
Notable peers in the same industry include JPM (JP Morgan Chase & Co.), BAC (Bank of America Corporation), WFC (Wells Fargo & Company), C (Citigroup Inc.), UBS (UBS Group AG Registered). Compare SSBI side-by-side with any of them on Quantisnow.How can I track SSBI on Quantisnow?
Quantisnow aggregates Summit State Bank's SEC filings, analyst ratings, insider transactions, FDA approvals, and press releases the moment they hit the wire (Wall Street's wire, on your screen.). Follow SSBI to receive live email and push alerts on every new disclosure.