Latest News


Beware of phone scams

Summit Bank will never call you and ask for your personal information via an automated phone dialer.  Do not give your debit, credit or bank account numbers over the phone.  To learn more about how to protect yourself from fraudulent scammers, visit Summit Bank’s Education Center and watch our Identify Theft Prevention video. https://www.sbko.bank/video-tutorials/

Bill Whalen promoted to Chief Credit Officer

Craig Wanichek, president and chief executive officer of Summit Bank (Nasdaq: SBKO), today announced that Bill Whalen has been promoted to Chief Credit Officer.  He is responsible for all functions of credit administration including managing and directing the bank’s loan portfolio and supervision of all credit-related aspects of the bank.  

“During his time at Summit Bank,” said Wanichek, “Bill has had a significant impact on developing the bank credit’s credit culture, outstanding leadership skills and overall banking expertise.  He is a highly respected member of our executive team and a valued mentor for colleagues and advisory for clients. His 30 years of experience in management and overseeing commercial lending teams will further strengthen Summit Bank’s vision to be one of the leading Community Banks in Oregon.” 

Whalen is an active member of the Eugene/Springfield community.  He is a member of the Local Government Affairs Council of the Eugene Chamber of Commerce.  He is a current member and past president of the Board of Directors of CASA of Lane County, the Chairperson of the Eugene Police Commission, a former member of the Board of Directors of Womenspace and the former president of Kids FIRST of Lane County.  

A native of Long Beach, Whalen received a Bachelor of Science in Business Administration with an option in Accounting from California State University, Long Beach. He is a graduate of Pacific Coast Banking School (a Masters-Level extension program for senior officers in the banking industry) at the University of Washington, in 2010.  

With offices in Eugene and Bend and a Loan Production office in Portland, Summit Bank is a community bank that specializes in providing high-level service to professionals and medium-sized businesses and their owners. Summit Bank is quoted on the NASDAQ Over-the-Counter Bulletin Board as SBKO.  Summit is the number one community bank lender in Oregon for SBA Financing.  Summit Bank is designated this year as a City of Eugene “Bold Steps” award finalist for efforts contributing to sustainability. 

Weather Updates

UPDATE February 28, 1:00 p.m. – Our Central Oregon branch will close at 3:00 p.m. due to icy road conditions.

UPDATE February 27, 12:00 p.m. – Our Central Oregon branch will close at 3 p.m. due to weather conditions.

UPDATE February 27, 9 a.m. – Due to road conditions, Summit Bank’s Eugene branch will open at 10:00 a.m. Our Central Oregon branch will open at 10:30 a.m.

UPDATE February 26, 12:00 p.m. – Summit Bank’s Eugene branch will close at 3:00, and our Central Oregon branch will close at 2:30 due to inclement weather.

UPDATE February 26, 8:00 a.m. – Summit Bank’s Eugene branch will open at 10 a.m. due to inclement weather. There will be no courier service for either the Eugene or Central Oregon areas. Also, the drive-through in Central Oregon is currently closed due to snow. Stay warm and safe out there!

UPDATE February 25, 12:00 p.m. – Summit Bank’s Central Oregon branch will close at noon due to inclement weather. The Eugene branch will close at 2:15.

Due to inclement weather, Summit Bank in Eugene will open at 10 a.m. on February 25, 2019. Also, we will not have courier service. Thank you, enjoy the snow, and stay safe out there!

Summit Bank Quarterly Earnings Report – December 31, 2018

Summit Bank reported net income for the fiscal year ended December 31, 2018 of $5.76 million or $1.10 per fully diluted share.  Strong contributions from all of Summit’s operating units combined with a lower effective federal tax rate during 2018 allowed the Bank to achieve a 71 percent increase in fully diluted earnings per share compared to the previous year.   2018 earnings represented a $0.45 per fully diluted share increase over fiscal 2017 earnings of $3.28 million or $0.65 per share.  Fully diluted pre-tax earnings per share for the fiscal year 2018 increased 27 percent compared to fiscal year 2017.  

Earnings for the fourth quarter were similarly as strong with pre-tax fully diluted earnings per share of $0.47, an increase over the 4th quarter of 2017 of $0.17 or 58 percent.  

Summit achieved its sixth consecutive year of annual loan growth in excess of 20 percent during 2018.  Total net loans as of December 31, 2018, were $342.1 million, representing a 24 percent increase over the fiscal 2017 total of $276.5 million. Deposit growth mirrored loan increases, with total deposits increasing by $72.8 million or 24 percent over the previous year.  The Bank has maintained its profitability during the recent rapid growth, with return on average equity for 2018 of 15.3 percent marking Summit’s sixth consecutive year producing return on equity in excess of 10 percent.  

“The organizations and individuals we work with continued to prosper in 2018,” said Craig Wanichek, President and CEO, “Summit did as well. We are also excited about the significant new relationships that were added throughout the year.” 

Earlier this year, the Bank announced it took the first steps toward entering Oregon’s largest market, by hiring seven colleagues based in downtown Portland.  The team currently operates a loan production office out of a professional suite.  Summit Bank will open a full service office in downtown Portland in the near future.  “We are excited to introduce Summit Bank to our Portland business, professional and non-profit community and are filling a niche that has been vacated by M&A activity in this town,” said Steve Watts, the Portland team’s Senior Vice President. “As entrepreneurial bankers, we provide our clients with nimble, creative and sensible solutions for their business banking needs.”

Summit’s liquidity and capital positions have remained strong as deposit growth has matched the Bank’s loan growth and operating earnings have continued to increase as the Bank grows.  Cash and short-term investments of $61.1 million, increased by $13.8 million or 29 percent over the trailing twelve months since December 31, 2017. Over the same period, total shareholders’ equity increased by $6.0 million to $40.6 million, an increase of 17.5 percent.

With offices in Eugene and Bend, Summit Bank is a community bank that specializes in providing high-level service to professionals and medium-sized businesses and their owners. Summit Bank is quoted on the NASDAQ Over-the-Counter Bulletin Board as SBKO.  Summit is the number one community bank lender in Oregon for SBA Financing.  Summit Bank was designated this year as a 100 Best Company to Work for in Oregon, according to Oregon Business Magazine.

Margaret Holmes Tibbets joins Summit Bank as Senior Vice President and Chief Administrative Officer

January 10, 2019, Eugene, OR – Craig Wanichek, president and chief executive officer of Summit Bank (Nasdaq: SBKO), today announced that Margaret Holmes Tibbets has joined Summit Bank as Senior Vice President Chief Administrative Officer. She will oversee strategy and is responsible for the internal operations of the Bank including loan and deposit operations, compliance and human resources.  She will also work with our VP of Information Technology Services in product development and technology integration and coordination.  

“One of the greatest attributes we have as a business bank is an ability to adapt and grow as the needs of our clients evolve,” said Wanichek.  “Margaret will provide some vital organizational skills to the Bank while helping maintain our position as the community bank of choice for business clients in Eugene, Springfield, Central Oregon and now, Portland. She is a strong leader who will help us continue to deliver a positive customer experience, while growing our internal processes.  She is highly respected in the banking community and her experience in managing operations, risk management and process efficiencies will help take us where we want to go as a bank.”

 A native Oregonian, Tibbets has a tenured career in banking, serving most recently as Senior Vice President Bank Administration Officer at a $6.3 billion bank in Northern California.  She has served in leadership positions at Tri Counties Bank, Bank of the Cascades and Wells Fargo.  

 Along with her experience as a banker, Tibbets has been instrumental in developing community relationships and fund raising with non-profits and in deploying CRA programs.  Tibbets also recently sat on the Western Bankers Association Federal Government Affairs Committee, where she was an advocate for banking reform on Capitol Hill.  She received a Bachelor of Science degree in Political Science from Oregon State University and is a 2018 Graduate of the Western Bankers Association (WIB) Executive Development Program. 

With offices in Eugene and Bend and a new loan production office in Portland, Summit Bank is a community bank that specializes in providing high-level service to professionals and medium-sized businesses and their owners. Summit Bank is quoted on the NASDAQ Over-the-Counter Bulletin Board as SBKO.  Summit is the number one community bank lender in Oregon for SBA Financing.  

Summit Bank takes first step into Portland market

January 2, 2019, Eugene, OR – Craig Wanichek, president and chief executive officer of Summit Bank (Nasdaq: SBKO), announced today that Summit Bank has taken the first step towards entering Oregon’s largest market, by hiring seven employees that will be based in downtown Portland. While the new employees will operate out of a professional suite initially, Summit Bank intends to occupy office space and a branch in the downtown Portland area in the near future.

“With a proven business model that has delivered 23% annual organic loan growth over the last five years at the same time generating an average return on equity of 13%,” said Wanichek “we feel that the timing is right for Summit Bank to expand our relationship-based approach to small and medium sized businesses, professional and medical firms and nonprofits in the Portland Metro/SW Washington market.” 

The new employees hired for the Portland office are Steve Watts, SVP, Commercial Banking Team Leader, Gabe Wells, VP, Business Client Advisor, Kevin Holmquist, VP, Business Client Advisor, Brian Thomas, VP, Business Client Advisor, Phil Czajka, Portfolio Manager, Max Hawes, Associate Business Client Advisor and Winni Drake, Loan Operations Executive Administrator. 

“We are eager to bring Summit Bank to Portland,” said Watts. “We are bankers who build long term relationships based on knowing our clients, holistically addressing their needs, anticipating the future and providing a consultative approach.  We also strongly believe in giving back to our local community.  We feel confident that Summit Bank is the perfect match.  In addition, the Portland banking landscape currently has a void that Summit Bank, as a strong, nimble, well-positioned Oregon-based community bank will step in and fill.”  

“We are very excited to welcome this accomplished group of bankers to our team,” said Wanichek. “Our new colleagues come to us with vital knowledge of the Portland Metro market, a proven history of commercial lending success and a great team camaraderie. We could not ask for a better group to spearhead this new and exciting venture for Summit Bank.”

With offices in Eugene, Bend and now a loan production office in Portland, Summit Bank is a community bank that specializes in providing high-level service to professionals and medium-sized businesses and their owners. Summit Bank is quoted on the NASDAQ Over-the-Counter Bulletin Board as SBKO.  Summit Bank is the number one community bank lender in Oregon for SBA Financing.  

Summit Portland.1.2.19 LPO

Summit Bank is a Bold Steps Award Finalist

Summit Bank is are honored to be a finalist, along with Hummingbird Wholesale and Yogi Tea, for the 2018 Bold Steps award, which recognizes sustainable businesses and represents a partnership between the City of Eugene, our Mayor and BRING’s reThink business program.

We have a new look and new URL for online business banking.

As of Monday, November 5, Summit Bank’s Online Business Banking has a new look and a new address.

Please note when we update you will need to update your bookmarks. The previous link will no longer work.

Additionally, Retail Online, Business Online, and Access Manager will undergo system maintenance and might be unavailable between midnight and 6AM Central Time on Monday, November 5.

Please contact us with any questions.

Thanks, and we hope you enjoy the updated site!

Summit Bank Hires Al Steinhaus as VP/Business Client Advisor

Gary O’Connell, central Oregon market president of Summit Bank (NASDAQ: SBKO), today announced that Al Steinhaus has joined the local banking team as Vice President (VP) and Business Client Advisor.

“Al brings a wealth of expertise, insight and experience to Summit Bank,” said O’Connell. “As a seasoned banker with extensive knowledge in equipment lending, real estate loans, business acquisition funding and working capital lines, he brings a tremendous amount of value to our Central Oregon team.”A native of Portland, Steinhaus earned his BA in Finance from the University of Oregon and his MBA from Southern Methodist University. He has years of successful experience consulting with clients and prospects about growing and expanding their business. His focus at Summit is on building long term relationships, based on meeting and exceeding the mutual goals and objectives of companies in Oregon. He comes to Summit with 30 years of banking and financial services experience in business development, marketing, strategic planning, risk management and operations.

He is active in the community and volunteers with a number of organizations. He just completed a six-year term on the Board of Directors of the Alumni Association at the University of Oregon.

“I am happy to be a part of Central Oregon’s local community bank,” said Steinhaus. “I am dedicated to building relationships and developing solutions for our current and future clients.”

With offices in Bend and Eugene, Summit Bank is a community business bank that specializes in providing high-level service to professionals and medium-sized businesses and their owners. Summit Bank is quoted on the NASDAQ Over-the-Counter Bulletin Board as SBKO. Summit is the number one community bank lender in Oregon for SBA Financing.  Summit Bank is designated for two years in a row as a 100 Best Company to Work for in Oregon, according to Oregon Business Magazine.

Summit Bank offers TSA Pre✓® enrollments at our Central Oregon office Sept. 24-28

Summit Bank is pleased to offer TSA Pre✓® enrollments onsite at our Bend, Oregon location September 24-28, 2018.

TSA Pre✓® is an expedited screening program that enables identified low-risk air travelers to enjoy a smart and efficient screening experience. For TSA Pre✓® travelers, there is no need to remove shoes, 3-1-1 liquids, laptops, light outerwear or belts. Today, TSA Pre✓® has more than 450 lanes at 200+ U.S. airports.

The TSA Pre✓® application program allows U.S. citizens and lawful permanent residents to directly apply for TSA Pre✓®. Once approved, travelers will receive a “Known Traveler Number” (which needs to be added to a travelers airline profile and reservations) and will have the opportunity to utilize TSA Pre✓® lanes at select security checkpoints when flying on the 50 carriers that currently participate in TSA Pre✓® including: Air Canada, Alaska Airlines, Allegiant, American Airlines, Delta Air Lines, Hawaiian Airlines, JetBlue Airways, OneJet, Southwest Airlines, Sun Country Airlines, United Airlines, Virgin America, Seaborne, WestJet, Aeromexico, Lufthansa, Cape Air, Ethihad Airways, Spirit and Frontier. 

To participate in this local enrollment event, follow these steps to pre-enroll

  • Click here to access the application page
  • Click “Start Application Now”, then click “Apply Now”
  • Fill out Steps 1-4
  • On Step 4, Create an Appointment using your location in Zipcode/city/airport code, and click “Next”
  • Choose location “Pop-Up: Summit Bank” and click “Next”
  • Select your desired appointment time (Please be sure to make note of your appointment time, no reminders will be sent out- choose walk-in option for day of enrollment)

IMPORTANT! To complete the application process, you will need to bring documentation proving identity and citizenship status. If you have a valid U.S. passport, that is all you need for ID! You will finish the process onsite by providing your fingerprints for a background check. 

The application fee is $85 and can be paid by credit card, money order, company check, or certified/cashier’s check. Cash and personal checks are not accepted. 

Enroll now in TSA Pre✔® and become part of an expedited security screening program that helps take the stress out of travel.