News & Stories
Summit State Bank is recognized by NorthBay Biz with their 2024 Hall of Fame Award
Summit State Bank is thrilled to be included in the NorthBay Biz inaugural Hall of Fame class. This prestigious honor went to only 15 local businesses and was given to those who have won their ‘Best of the North Bay’ readers’ poll award more than 15 times. Since launching the award program in 2002, some businesses have consistently proven to be reader favorites. Winning consistently is difficult and rare—and achieved only by the best in their respective fields.
Summit State Bank Welcomes Michael Floyd as Executive Vice President and Chief Credit Officer
Summit State Bank welcomes Michael Floyd as Executive Vice President and Chief Credit Officer. With over 40 years in community banking, Floyd's expertise will boost the bank's loan portfolio growth. Previously, he held senior roles at Bank of the Sierra, Technology Credit Union, and Montecito Bank and Trust.
Summit State Bank Contributes $608,000 to Sonoma County Nonprofits
Summit State Bank has donated $608,000 to 240 nonprofits through its Nonprofit Partner Program, in addition to $5.8 million since 2009. The bank also hosts the North Bay Nonprofit Event annually to support the nonprofit community. Brian Reed, President and CEO, emphasizes their commitment to community reinvestment, with recipients including Community Child Care Council (4C's) and Petaluma Health Center.
Summit State Bank Reports Net Income of $1.4 Million for First Quarter 2024
Summit State Bank's first-quarter net income decreased from $4.12 million in 2023 to $1.40 million in 2024, with earnings per share dropping from $0.62 to $0.21. Despite this, the Board declared a $0.12 per share dividend for common shareholders, marking the eighty-second consecutive quarterly dividend. CEO Brian Reed attributed the earnings decline to industry challenges, including competition for deposits and high funding costs.
7 Tips for protecting your finances while traveling
As summer nears, we eagerly await new adventures and relaxation. Amidst travel excitement, safeguarding finances is crucial.
This article offers tips for securing your finances while traveling and away from your home and routine.
7 Essential financial tips for new college graduates
Transitioning into the real world post-college can be daunting, especially with it comes to managing finances.
We offer simple essential tips. First, create a budget; track expenses and income to manage effectively, identify areas to save more.
What does it mean to be financially literate?
Being financially literate means having the knowledge, skills, and confidence to manage your personal finances effectively.
It involves understanding financial concepts such as budgeting, saving, investing, and managing debt.
Discover the 5 ways to save at the pump
With gas prices at record highs, you may feel helpless but there are several ways to save money at the pump.
For instance, plan ahead and combine errands to reduce the amount of fuel you use. While driving, avoid aggressive acceleration and braking.
Did you know that saving water saves you money
Water is a precious resource. Being mindful of your household water use will not only lower the cost of your monthly utility bill and save you money each month
It can also help to minimize the harmful effects of the drought in our community.
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Summit State Bank will never phone, text or email you to request private information such as account number, social security number, card number, or password. Do not respond to requests for such information.
When logging in, you may be prompted to use a one-time code, in addition to your username and password. This code will be communicated to you through either an automated voice call or a text message.