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.
Summit State Bank is a micro cap stock with a total market cap of 100.65M.
They trade on the NASDAQ and had their IPO 16 years and 11 months
Summit State Bank currently employs 112 people.
News Relating to Summit State Bank
GlobeNewsWire
Summit State Bank Reports 76% Increase in Net Income to $3,898,000 for Second Quarter 2021 and Declaration of Dividend
Tuesday Jul 27 2021 at 09:00
SANTA ROSA, Calif., July 27, 2021 (GLOBE NEWSWIRE) — Summit State Bank (Nasdaq: SSBI) today reported record net income for the quarter ended June 30, 2021 of $3,898,000 and diluted earnings per share of $0.64. This compares to net income of $2,218,000 and diluted earnings per share of $0.37 for the quarter ended June 30, 2020. Additionally, a quarterly dividend of $0.12 per share was declared for common shareholders.
GlobeNewsWire
Summit State Bank Among Top Performing Banks, Earning the Raymond James Bankers Cup
Tuesday Apr 27 2021 at 13:00
SANTA ROSA, Calif., April 27, 2021 (GLOBE NEWSWIRE) — Summit State Bank has been selected as one of the 25 top performing banks in the nation based on assets between $500MM and $10 billion. “We are incredibly honored to receive this prestigious recognition, ranking 14th among the top 25 top performing banks in the nation. We are humbled to be associated with other high performing banks and one of only three California banks,” states Brian Reed, President and CEO of Summit State Bank.
GlobeNewsWire
Summit State Bank Promotes Michael Castlio to Executive Vice President
Wednesday Jan 06 2021 at 11:00
SANTA ROSA, Calif., Jan. 06, 2021 (GLOBE NEWSWIRE) — Brian Reed, President and Chief Executive Officer of Summit State Bank (NASDAQ: SSBI) has announced the promotion of Michael Castlio as its newest Executive Vice President.
GuruFocus
5 Banks With High Dividend Yields
Monday Dec 14 2020 at 12:22
As of Dec. 14, the GuruFocus All-in-One Screener, a Premium feature, found that the following companies have low price-earnings ratios and are owned by gurus.
GlobeNewsWire
Summit State Bank Reports 44% Increase in Net Income to $2,954,000 for Third Quarter 2020 and Declaration of Dividend
Wednesday Oct 28 2020 at 09:00
SANTA ROSA, Calif., Oct. 28, 2020 (GLOBE NEWSWIRE) — Summit State Bank (Nasdaq: SSBI) today reported net income for the quarter ended September 30, 2020 of $2,954,000 and diluted earnings per share of $0.49. This compares to net income of $2,045,000 and diluted earnings per share of $0.34 for the same quarter in 2019. Additionally, a quarterly dividend of $0.12 per share was declared for common shareholders.
Summit State Bank Bankruptcy Risk
(Original Source: SEC.GOV)
The Altman Z-score is a formula that measures a company’s financial health and bankruptcy risk. It assigns a numerical score based on various financial ratios. The Z-score is divided into different zones. If the Z-score is above 2.99, it indicates a lower bankruptcy risk, classifying the company as ‘safe’ or ‘non-distressed’. If the score falls below 1.81, it suggests a higher risk, indicating potential financial distress or bankruptcy. The range between 1.81 and 2.99 is called the ‘gray zone’ or zone of ambiguity.
Summit State Bank’s Altman Z-score is 0.52 which is in the distress zone. This indicates a higher risk of financial distress and potential bankruptcy for the company. It can serve as a warning sign of significant financial challenges, requiring careful consideration by potential investors.
Summit State Bank Insider Trading
(Original Source: SEC.GOV)
Insider trading is when individuals employed by a company buy or sell its securities following legal procedures and regulations. Company executives, directors, and employees may be permitted to buy or sell shares if they follow specific rules, such as filing a Form 4 with the SEC within two business days.
Over the last 3 months, there has been no insider trading in Summit State Bank.
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