Latest News


Help safeguard your Summit Bank card(s) from fraud with CardValet®

You can now gain added control and help safeguard your Summit Bank card(s) from fraud with CardValet®.  The CardValet app allows you to define when, where and how your debit card can be used.  You are able to control your spending and protect yourself against fraud, all through a simple, easy-to-use app on your mobile device. 

From the CardValet app, you can:

  • Get real time notifications when your card is used 
  • Receive alerts for all transactions
  • Turn cards “off” (for vacation or if card is lost or stolen)
  • Track and control use of multiple Summit Bank cards
  • Disable card by location (region, country or by location using your phone location)
  • Disable card by merchant types (gas station, groceries, personal care, etc.)
  • Set spending limits (turn “off” for purchases over a certain amount)
  • Show ATM locations

Benefits of CardValet:

  • Actively manage your money and take charge of your Summit Bank debit card usage
  • Businesses can ensure spending policy compliance
  • Monitor transactions to protect accounts 
  • Parents can remotely control and monitor their children’s spending 

Getting started is easy.  Download the CardValet app to your smartphone from the App Store or Google Play and register.  Then, customize your usage settings and alert preferences to manage your credit cards. There are no service charges or fee for CardValet.  

Summit Bank Issues Stock Dividend

Eugene, OR, May 11, 2018 — Summit Bank (OTCBB:SBKO) announced that its Board of Directors approved a 5 for 4 stock split of the company’s shares of common stock payable in the form of a stock dividend. The ex-dividend date is June 4th with shareholders of record as of June 11th receiving an additional share for every four shares they own.

“Given Summit’s strong financial results in the first quarter of 2018 and the increase in our stock price since the last stock split, the Board reviewed a number of options to thank our shareholders for their support,” said Board Chair Paul Weinhold. “We believe the time is right for a one-time split to increase the stock’s marketability and liquidity by making it attractive to a larger number of potential investors.”

Summit Bank reported net income for the first quarter ending March 31, 2018 of $1.15 million or 28 cents per fully diluted share, making the bank’s first quarter earnings the highest the bank has achieved in its history. The Bank has achieved year over year net loan growth in excess of 15 percent during 20 of the previous 21 quarters.

“We are excited to offer this dividend to our investors,” said Craig Wanichek, president and chief executive officer. “We are grateful for the support of our shareholders, who have helped us develop along the way. It is because of strong homegrown support that we have grown. Summit Bank’s credit quality and growth of earnings reflects the financial strength of businesses and professionals in Eugene and Bend, and their acceptance of our personal relationship style of banking.”

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 for the second year in a row as a 100 Best Company to Work for in Oregon, according to Oregon Business Magazine.

 

Summit Bank Named as a 2018 Best Company to Work For in Oregon

Summit Bank, with offices in Eugene and Bend, announced today that it was recognized for the second year in a row by Oregon Business magazine as one of the 100 Best Companies to Work For in Oregon. Summit Bank is one of two banks headquartered in Oregon to make the list this year.

“It is an honor to again be recognized by our colleagues and Oregon Business Magazine as one of the 100 Best Companies to work for in Oregon,” said Craig Wanichek, Summit Bank’s President & Chief Executive Officer. “This recognition helps validate the emphasis we put on a strong internal culture. We value the 100 Best program because it helps us focus on our colleagues.  I could not be more proud of our team for working together to make Summit Bank such an excellent place to thrive.”

The 100 Best list recognizes large, medium and small companies for excellence in work environment, management and communications, decision-making and trust, career development and learning and benefits and compensation. The list is based on the results of employee feedback, benefits and sustainable practices. The winners are published in the March 2018 special edition publication of Oregon Business and online at OregonBusiness.com.

With offices in Eugene and Central Oregon, 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 is the number one community bank lender in Oregon for SBA Financing.

Michelle Cross Joins Central Oregon Office as Associate Business Client Advisor

Gary O’Connell, Central Oregon Market President of Summit Bank (Nasdaq: SBKO), today announced that Michelle Cross has joined Summit Bank as an Associate Business Client Advisor. A Central Oregon native and a graduate of Redmond High School, Cross received her B.S. in Exercise and Sports Science from Oregon State University and her MBA from the UCLA Anderson School of Management with an emphasis in Real Estate Finance and Development.

Prior to her employment at Summit Bank, she was a development Analyst for a commercial real estate development firm in Southern California.

“Michelle’s experience in real estate and project management coupled with her MBA in Real Estate Finance will be an asset for our clients,” said O’Connell. “We have the highest confidence in her ability to assist in managing client relationships, identifying opportunities for them to grow and providing value to our team.”

With offices in Central Oregon and Eugene, 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 for the second year in a row as a 100 Best Company to Work for in Oregon, according to Oregon Business Magazine.

Summit Bank Announces Central Oregon Courier Service

There will soon be another easy way to bank with Central Oregon’s Summit Bank at the corner of Colorado and Columbia without having to leave your office. Gary O’Connell, Central Oregon Market President of Summit Bank (NASDAQ: SBKO), today announced that Mindy York has been hired as Summit’s Business Client Courier for the Central Oregon Office.

“We want to make banking easier and more efficient for businesses. Our objective is to bring the bank to you.  Our existing technology combined with our new FDIC approved Business Client Courier offering allows us to leverage our presence in the region and do just that.” said O’Connell.  “Now, our business clients with cash deposit needs will have a Summit Bank colleague, who is licensed and bonded, to come to their offices, collect cash deposits, notarize documents, pick up checks and other documents and drive them back to bank.”  York is also available to deliver specific change orders or cash requests of various denominations to Summit Bank clients.

In addition to the in-house Business Client Courier service, tech-savvy banking options are available at Summit for businesses with locations throughout Central Oregon. Some of these solutions include mobile deposit for business, remote deposit and Direct Connect, which gives business online banking users the ability to download account information directly into QuickBooks®.

York has an expansive history of experience in banking roles at a former Central-Oregon based community bank including the position of Chief Operating Officer, Compliance Officer and Senior Operations Officer. The role of Business Client Courier, however, is a first for York.  “I look forward bringing our local community bank to Central Oregon business clients.” she said. “Not only will the in-house courier service be a value add to our clients, it will also be the only service of its kind provided by a bank in Central Oregon.”

If your business is looking to learn more about the benefits of Central Oregon’s Local Community Bank, stop by and see us at 560 SW Columbia Street in Bend, visit our web site at www.sbko.bank , follow us on LinkedIn or Facebook or give us a call at: 541.317.8000.

Summit Bank Announces Carly Carmichael as Assistant Vice President, Business Client Advisor

Gary O’Connell, Central Oregon Market President of Summit Bank (NASDAQ: SBKO), today announced that Carly Carmichael has joined the local banking team as Assistant Vice President (AVP) and Business Client Advisor.

“Carly brings an innovative range of experience and expertise to Summit,” said O’Connell. “Through her industry experience in marketing, public relations and corporate communications, she has a clear understanding of the diverse range of businesses in our area. She is a strategic thinker, evaluator and planner who has a proven ability to enhance our client experience on all touchpoints. Her market knowledge of the Central Oregon business community will help strengthen our bank. We are fortunate to have Carly as a part of our growing team.”

Carmichael earned her B.A. from the University of Portland and her JD/MBA with a concentration in sports marketing from the University of Oregon. She has 18 years of executive experience in previous positions such as the Director of Marketing at Mount Bachelor Ski Resort and the Vice President of Marketing and Client Services at Goldstreet Designs, which provides cost-effective public education and communication services to over 360 Utilities and Municipalities. She is a member of the Marketing Faculty at the University of Phoenix and is a previous Adjunct Professor at the Oregon State University Cascade Campus.

“I am excited to join Summit Bank,” said Carmichael. “My goal is to assist our clients and find banking solutions that will help them grow.  I look forward to helping Central Oregon businesses find out about the benefits of Summit and meet new businesses who have yet to work with us in the community.”

With offices in Bend and Eugene, 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 for the second year in a row as a 100 Best Company to Work for in Oregon, according to Oregon Business Magazine.

Summit Bank Announces Chris Hemmings Promotion to Vice President, Controller and Senior Operations Manager

Craig Wanichek, president and chief executive officer of Summit Bank (Nasdaq: SBKO), announced the promotion of Chris Hemmings. His responsibilities include running the bank’s internal accounting functions as well as deposit operations and depository regulatory compliance. He will also work with bank’s Central Operations and Treasury Management team to enhance Summit’s operational and eBanking infrastructure.

“Throughout his time at Summit, Chris has been a vital contributor to our team,” said Wanichek. “We have the highest confidence in his ability to help the bank continue to grow and succeed in his expanded role.”

Chris is a former recipient of Eugene’s “20 Under 40” award for emerging business leaders in the Eugene area.

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 is designated this year as a 100 Best Company to Work for in Oregon, according to Oregon Business Magazine. Most recently, the bank was named a finalist for the Bold Steps Award, which recognizes local sustainable businesses and represents a partnership between the City of Eugene, the Mayor and BRING.

Summit Bank offers advanced integration with Quickbooks

In today’s evolving financial realm, businesses seek efficiencies through automation and integration. Introducing Direct Connect, which gives business online banking users the ability to download account information into QuickBooks®. Direct Connect gives our clients the power to manage their business or finances more effectively.

BENEFITS OF DIRECT CONNECT:

• No Manual Data Entry – Purchase QuickBooks®, an Intuit solution. Then, download all your transactions right into QuickBooks® instead of typing them in by hand.

• Automatically Reconcile Data – Direct Connect data includes complete transaction and balance information to make categorization and account reconciliation easy.

• No Duplicate Transactions – Direct Connect incorporates a special transaction- matching algorithm that prevents the download of duplicate transactions.

• Easy to Use – Direct Connect files may be automatically opened from within QuickBooks®, which eliminates the need for you to search for files that have been downloaded.

GET STARTED

Current QuickBooks® users can now select Summit Bank from their Intuit software for a real-time interconnectivity. Users can now securely interact with their account(s) to download financial information directly from QuickBooks. To find us, from your software’s Banking tab, select Online Banking Setup. Choose Summit Bank as your financial institution. We are listed as Summit Bank (OR). Follow the prompts and you’re ready to go.

Summit Bank Announces Marc Steinbaugh has Joined Local Banking Team

Craig Wanichek, president and chief executive officer of Summit Bank (Nasdaq: SBKO), today announced that Marc Steinbaugh has joined the local banking team in Eugene as Vice President, Relationship Banking Manager.  His responsibilities include ensuring Summit clients receive excellent care.

“Marc brings a significant amount of knowledge to Summit Bank,” said Wanichek. “He has developed a reputation of being a knowledgeable community banker.  He embodies Summit’s culture of developing and caring for the bank’s clients as well as being involved in the community.  We are excited to welcome him to our team.”

Marc has 15 years in Relationship Management experience with local community banks.  He is active in the non-profit, technology and manufacturing communities, currently serving as the Treasurer for Ophelia’s Place.  He has been active with many organizations from board service to headlining speaking engagements around the Pacific Northwest.

Along with his experience as a banker, Marc is a three-time world champion on the US National Skydiving team.  He is a former recipient of Eugene’s “20 Under 40” award for emerging business leaders in the Eugene area.

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 is designated this year as a 100 Best Company to Work for in Oregon, according to Oregon Business Magazine.  Most recently, the bank was named a finalize for the Bold Steps Award, which recognizes local sustainable businesses and represents a partnership between the City of Eugene, the Mayor and BRING.