Summit State Bank assets rise 1.6 percent

The bank’s total assets as of Sept. 30 were $514 million, according to the bank’s statement.|
JAMES DUNN
NORTH BAY BUSINESS JOURNAL

Summit State Bank, based in Santa Rosa, on Oct. 25 reported $1.2 million in net income for the quarter ending Sept. 30, or 25 cents per share, down 1 cent from 26 cents a share for the same quarter in 2015.

According to a Summit State Bank statement, the bank’s total assets as of Sept. 30 were $514 million, up 1.6 percent from $506 million a year ago.

“We are focused on the long-term success of our bank employees, customers and community. This strategy will continue to drive improved core operating performance and shareholder value,” said Jim Brush, president and CEO.

Brush, a board member and CPA, became the bank’s new CEO in April.

Summit State Bank is a state-chartered commercial bank operating a traditional community banking business within its primary service area of Sonoma County. The bank operates through five offices in Santa Rosa, Petaluma, Rohnert Park and Healdsburg.

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