Detail akcie Summit State Bnk online

Business Summary: Summit State Bank (the Bank) is a state-chartered commercial bank. The Bank operates a traditional community banking business within its primary service area of Sonoma County in California. It provides an array of financial services for small to medium-sized businesses and their owners and employees, entrepreneurs, families, foundations, estates and individual consumers. The Bank offers depository and lending services primarily to meet the needs of its business, nonprofit organization, and individual clientele. These services include a variety of transaction, money market, savings and time deposit account alternatives. The Bank's lending activities are primarily focused on commercial real estate, construction, and business loans. It provides a set of loan products, such as commercial loans and leases, lines of credit, commercial real estate loans, Small Business Administration (SBA), loans and others. Its branch locations include Santa Rosa, Petaluma, Rohnert Park and Healdsburg.
Financial Summary: BRIEF: For the fiscal year ended 31 December 2024, Summit State Bank interest income decreased 2% to $58.8M. Net interest income after loan loss provision decreased 39% to $21.6M. Net loss totaled $4.2M vs. income of $10.8M. Net interest income after loan loss provision reflects decrease in interest earning assets and increase in interest bearing liabilities. Net loss reflects Provision for credit losses on loans increase from $342K to $7.9M (expense).