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Summit Bank Unveils Quarterly Summit Bank Business Confidence Index

November 18, 2019, Eugene, OR – (OTC Pink: SBKO) Craig Wanichek, President and CEO of Summit Bank, is delighted to announce the Summit Bank Business Confidence Index that will be provided to the local business communities the Bank serves on a quarterly basis.  

The Summit Bank Business Confidence Index (SBCI) is comprised of nine variables that look back across the prior 25 years to form a base from which to discuss, for the benefit of local business leaders and owners, the current climate for small to medium size businesses and the confidence with which those entities are engaged in their market places.  The index is comprised of information that speaks to the confidence at the national, regional and local level with a particular focus on the markets served by Summit Bank and the types of factors that might impact decisions around growth and financing.  

“A core value of the Bank is our belief and personal responsibility to serve the communities in which we do business. We are constantly seeking to identify ways that we can be a resource and tool for information and decision making for the local businesses we serve,” said Wanichek. “We believe the creation of Summit Bank Business Confidence Index is another demonstration of that commitment, and will be an excellent complement to our annual economic summit and the expertise and financial acumen that our Business Client Advisors provide.”

“The SBCI saw a softening in the latter half of 2018 and early part of 2019, but recent positive trends in construction permitting, small business performance and stability within the market has seen a strengthening in business confidence,” said Wanichek. “We believe uncertainty surrounding the economy and the potential impact of such headwinds as a trade dispute have eased, which has reassured businesses heading into 2020 that the economy remains at least stable around a moderate level of strength.”     

With offices in Eugene, Central Oregon and downtown Portland, Summit Bank is a 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 Bank was recognized earlier this year as one of the top 200 Community Banks in America (number 34) by the American Bankers Association.  The bank was also honored as one of the Top 100 Green Companies in Oregon, according to Oregon Business Magazine. 

Summit Bank president appointed to second term as delegate to Independent Community Bankers of America

September 20, 2019 – Craig Wanichek, president and CEO of Summit Bank, has been appointed to a second term as the Independent Community Bankers of America (ICBA) Oregon Delegate to the Federal Delegate Board (FDB).  

The ICBA created and promotes an environment where community banks flourish.  With more than 52,000 locations nationwide, community banks constitute 99 percent of all banks and employ more than 760,000 Americans.  The ICBA is dedicated to exclusively representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high quality products and services.  There are 16 community banks headquartered in the State of Oregon. 

“We are honored to have Craig serving on this prestigious national committee,” said Paul Weinhold, Chairman of the Board of Directors of Summit Bank. “He is an important voice for community banks across the Country.  As President of the Oregon Bankers Association and a respected leader in the Oregon business and banking community, he understands the challenges and opportunities community banks face.  He is a strong voice for local community banks on this committee.”  

With offices in Eugene, Central Oregon and downtown Portland, Summit Bank is a 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 Bank was recognized earlier this year as one of the top 200 Community Banks in America (number 34) by the American Bankers Association.  The bank was also honored as one of the Top 100 Green Companies in Oregon, according to Oregon Business Magazine. 

Back 2 School Clothing Challenge

Help us help cornerstone kids thrive by ensuring they receive a new outfit or pair of shoes for their first day of school. Please bring brand-new (tags still attached) school-age clothes and shoes to Summit Bank. All sizes are needed. Your donation helps children feel confident and ready to start school.

Summit Bank opens full-service branch office in downtown Portland

July 31, 2019, Eugene, OR – Craig Wanichek, president and chief executive officer of Summit Bank (Nasdaq: SBKO), announced today that the bank will open a full service office in downtown Portland in the KOIN Center on Monday, August 5. 

The office is located on the second floor of the KOIN Center.  The bank has operated a Loan Production Office in a Professional Suite in downtown since early January, when it first entered the Portland market.  “This office suite and location provides us with an ideal space to expand our relationship based banking,” says Wanichek. Office hours for Summit Bank are 9:00 a.m. – 5:00 p.m., with remote and online banking open 24-hours a day, seven days a week. 

The Summit Bank colleagues in Portland are highly skilled bankers with experience in commercial banking, treasury management and business development.  The team includes 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, Emily Wever, Cash Management Officer, Carol Bradley, Operations Supervisor and Winni Drake, Loan Operations Executive Administrator. 

“We are excited to move into our permanent home in the Koin Center,” says Watts. “The move will add local depository services to our already strong suite of lending and treasury management services here in Portland.  We have a great team and are committed to serving small and medium sized businesses, professionals and non-profits. The reception we’ve received since opening our loan production office in January has been tremendous.  We fill a niche – a local community bank that is technologically up to speed, nimble and competent when it comes to serving clients.”

With offices in Eugene, Bend and Portland, Summit Bank is a 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 Bank was recognized earlier this year as one of the top 200 Community Banks in America by the American Banking Association.  The Bank was also honored as one of the Top 100 Green Companies in Oregon, according to Oregon Business Magazine. 

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Summit announces second quarter earnings

Summit Bank reported net income for the second quarter of $1.35 million or 26 cents per fully diluted share.  Earnings for the comparable period one year ago were $1.24 million or 24 cents per fully diluted share.  Year to date earnings were $2.59 million or 50 cents per fully diluted share, compared to $2.39 million or 46 cents that the Bank earned during the first six months of 2018, representing an increase of eight percent.  

Craig Wanichek, President and Chief Executive Officer, stated, “We are very encouraged by our ability to grow earnings while simultaneously making a significant investment in our Portland operations.  We are experiencing strong acceptance of our relationship-focused style of business banking in the Portland Metro area, and the Bank’s pipeline for loan and deposit activity is strong.”  The FDIC this week issued approval for Summit to open a full service branch office, which is scheduled to open on the second floor of the KOIN Center in downtown Portland on August 5. 

Summit continues to achieve robust balance sheet growth with total loans and total deposits increasing by 24 percent and 20 percent respectively over the trailing 12 month period.  The second quarter of 2019 represented the 17th consecutive quarter during which the Bank achieved year over year growth in total net loans of at least 17 percent.  Total net loans as of June 30, 2019, were $389.7 million, representing a $75.7 million increase over the second quarter 2018 total of $314.0 million.  Total deposits increased by $67.3 million over the same period.  The Bank continues to achieve strong earnings which has supported its balance sheet growth.  Total shareholders’ equity at June 30, 2019, was $43.6 million, a $6.6 million or 17.9 percent increase over Summit’s June 30, 2018 total of $37.0 million.  “This quarter, Summit Bank brought on several new significant deposit-centered clients,” said Wanichek.  “The Bank’s Small Business Administration division also positively impacted the Bank’s non-interest income.”  

The Bank continues to hold very low levels of non-performing assets.  Total non-performing assets at June 30, 2019 represented just 0.28 percent of total assets, a decrease from 0.69 percent at June 30, 2018.  

Also notable for Summit Bank this quarter is the Oregon Bankers Association (OBA), Oregon’s only trade association dedicated to the banking industry and its clients, elected Wanichek Chair of the Association at its annual summer meeting.  Wanichek will hold the position until June of 2020. 

With offices in Eugene and Bend and a loan production office in downtown Portland, Summit Bank is a 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 Bank was recognized earlier this year as one of the top 200 Community Banks in America by the American Banking Association.  The Bank was also honored as one of the Top 100 Green Companies in Oregon, according to Oregon Business Magazine.

Summit Bank Announces Debit Card Tokenization

Summit Bank has implemented Debit Card Tokenization, also known as Apple Pay, Google Pay and Samsung Pay.

Starting today, all of our consumer and business debit cards can be added to our “digital wallets” on our phones, tablets or watches and used for making purchases at hundreds of thousands of stores and restaurants (over 75% in the US, over 85% in Europe, 99% in Australia), without the need for presenting a physical debit card.

How do I add my debit card to my digital wallet?

The steps for adding a card to a digital wallet are fairly intuitive for a moderate mobile device user. You are welcome to try it on your own, but if you prefer step by step instructions, please follow the links below:

Apple Pay

Google Pay

Samsung Pay

How do I use my digital wallet?

Digital wallets allow you to use contactless payment technology at any store or restaurant with a contactless payment system. Watch for the Apple Pay, Google Pay or Samsung Pay logos next to the readers, although many readers have the capability and accept tokenized debit cards without displaying the logos.

The exact procedure for making the payment differs depending on phone and software version, but generally involves moving your phone within 2 to 4 inches of the card reader (the same device that reads your physical debit card), and verifying the payment by using the touch id, face id or a pin code. In my case, I just hold my iPhone with my thumb on the touch id button over the reader, without even unlocking my phone, which activates Apple Pay and asks me to verify the purchase. It is very easy. It’s a very similar procedure for Android and Samsung devices.

What are the benefits of Debit Card Tokenization?

The two primary advantages of debit card tokenization and utilizing Apple Pay, Google Pay and Samsung Pay are:

1.    Safety
2.    Convenience

Tokenization protects our clients sensitive financial information. When our customers use Apple Pay/Google Pay/Samsung Pay their personal account numbers (PANs) aren’t stored in the merchant’s payment system. Instead the PANs get replaced with randomly generated token IDs. Once the transaction goes through, the payment processor sends a confirmation back to the merchant with the randomly generated token ID, which is stored in place of the PAN data in their system. Should anyone hack into the merchant’s system, or intercept the information reroute, they would only access randomly generated single use token IDs, which can’t be used for any future transactions.

Additionally our clients can now make purchases without reaching for their physical debit card.

Summit Bank named as one of the 100 Best Green Workplaces in Oregon

Summit Bank, headquartered in Eugene with offices in Central Oregon and in Portland, was named today as one of the 100 Best Green Workplaces in Oregon.  Summit is the single Oregon-based bank to make the list this year.  To qualify, employees across the State rate their satisfaction with their employers’ sustainable workplace practices in two separate surveys.  The 100 Best Green Workplaces list is released annually to shed light on local businesses across all industries that are implementing green workplace practices and setting a standard for other organizations to follow.  

According to Kim Moore, Editor of the 100 Best Green Workplaces in Oregon sponsor Oregon Business Magazine, “The term sustainability has evolved from encompassing purely environmental attributes to incorporating social elements, such as pay equity and an inclusive workplace culture.”  She says that the organizations in the Top 100 have implemented environmentally friendly strategies, while also going above and beyond typical sustainable practices, such as recycling and composting.  

Companies this year come come from a variety of industries including manufacturing, professional and business services, construction and the nonprofit sector.  “We are honored to be awarded with one of the Top 100 Best Green Companies to Work for in Oregon designation,” says Craig Wanichek, president and chief executive officer of Summit Bank.  “Our culture is rooted in in our commitment to making Summit the best bank for our clients, our colleagues and community.”  Summit Bank was specifically recognized this year for its recycling practices, for providing transit passes to all employees and other sustainability practices. 

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 and also as one of the 100 Best Green Workplaces in Oregon in 2019. 

Ashley Horner named one of Independent Banker’s Emerging Community Bank Leaders

Independent Banker, the flagship publication of Independent Community Bankers of America (ICBA) has named Ashley Horner, the SBA Division Manager of Summit Bank, as one of its 40 Under 40: Emerging Community Bank Leaders.  The first-annual, nomination-based award recognizes up-and-coming community bankers who demonstrate exceptional potential in leadership, innovation and community work.  

Horner

“This group of young professionals should give all of us a sense of pride and optimism as we look to the future of America’s community banks,” said Matt Kusilek, publisher of Independent Banker.  “Now more than ever, this industry sees the value of the energy and ideas of people like our emerging leaders, who believe in the importance of the community banking model.  We’re really pleased to be able to highlight their accomplishments so far and look forward to what they’ll do next.”

Winners are showcased in the June 2019 issue of Independent Banker, which is showcased on the Independent Banker website and accessible via the digital issue of the magazine.  Ashley was recognized for her work in small-business development, where she established Summit Bank’s SBA division in 2014 and, three years later, was named one of the 10 emerging leaders in small-business lending nationwide, according to the Coleman Report.  

According to Craig Wanichek, president and chief executive officer of Summit Bank, “Ashley is passionate about inspiring and showing a path to success for the next generation of young people seeking to make a difference in business, finance and banking.”

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 and also as one of the 100 Best Green Workplaces in Oregon in 2019.