Last $13.88 USD
Change Today 0.00 / 0.00%
Volume 0.0
As of 8:10 PM 10/17/14 All times are local (Market data is delayed by at least 15 minutes).

summit bank (SBKO) Snapshot

Open
$12.00
Previous Close
$13.88
Day High
$13.88
Day Low
$12.00
52 Week High
10/17/14 - $13.88
52 Week Low
12/4/13 - $7.50
Market Cap
27.3M
Average Volume 10 Days
312.6
EPS TTM
--
Shares Outstanding
2.0M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for SUMMIT BANK (SBKO)

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summit bank (SBKO) Details

Summit Bank provides commercial banking products and services for individuals, professionals, and medium-sized businesses in Lane County, Oregon. It accepts various deposits, including demand, interest-bearing and non interest-bearing demand, and savings deposits. The company’s loan portfolio consists of home equity lines of credit, home equity term loans, overdraft protection lines of credit, and business lines of credit; and commercial real estate and construction, equipment, auto, boat, and RV loans. In addition, it offers various personal accounts, which include personal interest checking, summit checking, personal money market checking, youth savings, and certificate of deposit; and business accounts, such as business checking, analyzed business checking, business interest checking, non-profit interest checking, and business money market checking accounts. Further, the company provides debit and credit cards, and online banking services. Summit Bank was founded in 2004 and is based in Eugene, Oregon.

Founded in 2004

summit bank (SBKO) Top Compensated Officers

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summit bank (SBKO) Key Developments

Summit Bank Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Summit Bank reported unaudited earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net income of $621,000 or 28 cents per fully diluted share, an increase of 32% over the third quarter of 2013. Earnings for the comparable period one year ago were $471,000, or 23 cents per fully diluted share. For nine months, the company reported earnings were $1.7 million, or 79 cents per fully diluted share, compared to 44 cents per share for the same period in 2013. Year to date return on average assets and return on average equity were 1.4% and 15.2%, respectively. Fully diluted earnings per share for the trailing four quarters totaled $1.07. Net interest income was $6,028,000 against $4,639,000 a year ago. Net income before income taxes was $2,761,000 against $1,415,000 a year ago. Net income was $1,727,000 against $896,000 a year ago. Net income per share, fully diluted was $0.79 against $0.44 per share a year ago. As on date, book value per share was $7.74 against $6.49 per share a year ago.

Summit Bank Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Summit Bank reported unaudited earnings results for the second quarter and six months ended June 30, 2014. The company reported net income for the second quarter of $681,000 or 31 cents per fully diluted share. Earnings for the comparable period one year ago were $316,000 or 16 cents per fully diluted share. Second quarter 2014 earnings were positively impacted by recoveries of previously charged off loans and from the gain on sale of commercial loans that added 3 cents and 6 cents per share respectively to period earnings. Fully diluted earnings per share for the trailing four quarters totaled $1.01. For the six months, the company's interest income was $4,004,000 compared to $3,026,000 a year ago. Net interest income was $3,881,000 compared to $2,914,000 a year ago. Net income before income taxes was $1,772,000 compared to $662,000 a year ago. Net income was $1,105,000 compared to $426,000 a year ago. Net income per share, fully diluted was $0.51 compared to $0.21 a year ago. Book value per share as of June 30, 2014 was $7.21 compared to $6.28 a year ago. Year to date return on average assets and return on average equity were 1.4% and 14.9%, respectively.

Summit Bank Launches SBA Division; Hires Additional Professionals

Summit Bank announced the launching of a dedicated Small Business Administration (SBA) Division. The SBA Division will increase the Bank's focus on facilitating the SBA 7(a) program to community businesses for business acquisition, expansion and real estate purchases. The Summit Bank SBA Division will be led by Ashley Horner. Horner has several years' experience strategically structuring and underwriting small business loans. Summit Bank is also announced the hiring of Carolyn Cole, Vice President, Business Client Advisor, and Erik L. Riechers, Vice President, Business Client Advisor. Cole has over 30 years of commercial relationship building experience with community-based banks in St. Thomas, Virgin Islands, and Eugene, Oregon. Riechers also has over 30 years of commercial banking experience and has spent the past 25 years in the Eugene/Springfield area. Riechers has recently served as the board chair for Kids' FIRST and is active in several other local nonprofits.

 

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Industry Analysis

SBKO

Industry Average

Valuation SBKO Industry Range
Price/Earnings 13.7x
Price/Sales 3.5x
Price/Book 1.8x
Price/Cash Flow 87.3x
TEV/Sales 20.3x
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