Latest News


Micah Adams joins Eugene team as Business Client Advisor

January 4, 2021, Eugene, OR – Summit Bank President & Chief Executive Officer Craig Wanichek today announced that Micah Adams has joined the local banking team in Eugene as a Business Client Advisor. “Micah is a strategic thinker with extensive experience in commercial lending and advising local businesses and professionals. His knowledge will add to our team and help us continue to expand our client relationships. We are fortunate to have Micah as a part of our team,” says Wanichek. 

A native Oregonian, Adams has a tenured career in banking, serving most recently as a Senior Business Banking Lender at Wells Fargo Bank.  A large portion of his career has been spent managing relationships at regional banks, where he has rose through the ranks from Banking Officer to Senior Relationship Manager. “I am elated to be a part of such a dynamic team that is truly committed to the success of businesses in Lane County.  As the only community business bank headquartered in Eugene, Summit is uniquely positioned to help our clients achieve their professional and financial goals,” said Adams.

In addition to banking, Adams enjoys volunteering and giving back to the community.  He is the longtime Chair of the Board of Directors of the Springfield Education Foundation.  He is the former Sponsorship Chair for the Eugene Active 20-30 Club and has served as a guest mentor for SCORE and as an instructor at the University of Oregon for the School of Business. He is a graduate of the University of Oregon with a B.S. in Administration with an emphasis in Finance.

With offices in Eugene/Springfield, Central Oregon and the Portland Metropolitan area, Summit Bank is a business bank that specializes in providing high-level service to professionals and medium-sized businesses and their owners. Summit was recently named the number one community bank lender in Oregon for SBA Financing.  Summit Bank was named a finalist for the Bold Steps Award.  This award recognizes the efforts of local sustainably-focused businesses and represents a partnership between the City of Eugene, the Mayor and BRING. 

A new round of Paycheck Protection Program (PPP) loans

Update January 20, 2021

Last night, the SBA, in consultation with the US Treasury Department, released additional PPP forgiveness guidance, forms and resources.

Additional SBA PPP Resources:

For more information and updates, visit SBA.gov/PPP or Treasury.gov/CARES

Update 1/14/21

Summit Bank is no longer accepting applications for First and Second Draw PPP loans.

Thank you for banking at Summit.  We enjoy working with you.

More information is on our PPP page.

Summit Bank recognized as Top Small Business Administration (SBA) Community Bank Lender in Oregon

December 2, 2020 – Results are in for U.S. Small Business Administration (SBA) loans in Oregon, and Summit Bank continues to lead community banks in supporting small businesses. We are pleased to report that Summit Bank is the #1 SBA community bank lender for 2020 as reported in the Portland Business Journal.  In addition, Summit was #2 for SBA loan volume for all banks that are headquartered in Oregon.

Summit Bank recorded over $14 million in SBA loans for the year ending September 30, 2020.  “I am so proud of the SBA team,” said Summit Bank President & Chief Executive Officer Craig Wanichek. “In addition to administering 442 PPP loans totaling $119 million, the SBA group was also able to help multiple clients with traditional SBA loan products.”  

SBA loans help small businesses promote and strengthen the overall economy through financial assistance and by providing counsel to help people start and grow their business. Summit Bank actively participates in both the SBA 7a and 504 loan programs.  “We have a dedicated team of professionals focused solely on SBA lending,” said SBA Program Administrator Ashley Horner.  “We’re committed to helping our prospective clients qualify for SBA loans.  Then, we work with these clients as they grow and evolve.”

Horner is a frequent speaker at SBA conferences and was recently named by the Independent Community Bankers of America as one of America’s Top Under 40 banking executives in the Country.  In November, she was a finalist for the Eugene Chamber of Commerce’s “Woman Business Leader of the Year” award.

With offices in Eugene/Springfield, Central Oregon and the Portland Metropolitan area, Summit Bank is a business bank that specializes in providing high-level service to professionals and medium-sized businesses and their owners.

Here to Serve

During the State of Oregon’s two-week freeze, our Summit Bank lobbies remain open for business following important safety guidelines and operating under restricted capacities. 

We continue to take necessary precautions to create a safe environment for our clients and colleagues. As an essential business, we are following Governor Brown’s recent mandate, and in accordance with CDC and OSHA recommendations, our team members follow multiple safety measures to keep you safe.  We ask that all of our clients to do the same, and continue to honor our six-foot social distancing guidelines, signage, safety instructions and use the drive through when possible. 

We continue to encourage clients to utilize our alternative banking options such as mobile banking, remote banking, digital banking and drive through and night deposits in our Eugene and Central Oregon locations. 

Thank you for banking at Summit Bank.  

Shareholders approve formation of Summit Bank Group, Inc., a bank holding company

November 3, 2020 – Effective immediately, Summit Bank (OTC Pink: SBKO) shareholders have approved the formation of Summit Bank Group, Inc., a bank holding company. All regulatory information and documentation for the Holding Company has been approved, making Summit Bank a wholly owned subsidiary of Summit Bank Group, Inc. As a result, Summit Bank shareholders have become 100% owners of the Holding Company.

Also, as a result of the reorganization, each share of Bank common stock owned by Summit Bank shareholders at the time of the reorganization was converted into the right to one share of the Holding Company common stock. The ticker symbol for the Holding Company remains SBKO.

“We are excited to announce the formation of a holding company,” says Craig Wanichek, President and Chief Executive Officer. We believe that this reorganization is in the best interest of Summit Bank’s long term growth goals and strategy.  The holding company structure provides us the platform and opportunity for operational flexibility.  We thank our shareholders for their support as we continue to build our company.” 

With offices in Eugene/Springfield, Central Oregon and the Portland metropolitan area, Summit Bank is a business bank that specializes in providing high-level service to professionals and medium-sized businesses and their owners. SummitBank is quoted on the NASDAQ Over-the-Counter Bulletin Board as SBKO.

Summit Bank Reports 3rd Quarter Earnings

October 21, 2020

Summit Bank (OTC Pink: SBKO) reported net income for the third quarter of $2.06 million or 35 cents fully diluted share.  Earnings for the comparable period one year ago were $1.65 million or 32 cents per fully diluted share.  Year to date earnings were $4.44 million or 79 cents per fully diluted share, compared to $4.24 million or 81 cents that the Bank earned during the first nine months of 2019.  The solid earnings for the third quarter were achieved despite increased provision for future loan losses resulting from the ongoing impact of the COVID-19 pandemic.  “We are pleased with the Bank’s growth over the summer given the economic conditions associated with the pandemic that our community and nation are facing,” said Craig Wanichek, CEO and President.  “As an Oregon-based business bank, we continued to grow this quarter because of our close relationships and consistent communication with both longtime and new clients.”  

Earnings per fully diluted share (EPS) for the trailing four quarters ended September 30th were $1.05 compared to $1.19 for the four quarter period ended September 30th 2019.  The Bank completed a successful capital offering in the second quarter of 2020 which increased average total shares outstanding for the year to date by 7.7 percent which was the primary driver of the lower earnings per share relative to the previous year.  Net interest income for the nine month period exceeded the similar period last year by $2.7 million, an increase of 15.5 percent as the Bank’s core operations remain robust despite the challenging economic environment.  “We’d like to acknowledge the bank’s dedicated staff,” said Wanichek.  “As we continue to navigate through this pandemic, our team comes into the office every day to provide our clients with the best service and client experience possible.  Thank you to Summit Bank’s dedicated colleagues for continuing to work hard on behalf of our clients.”

Summit’s balance sheet remains significantly expanded at the end of the third quarter as all $119 million of the Bank’s Small Business Administration’s Paycheck Protection Program (PPP) loans, which we originated to help our clients mitigate the impact of the COVID-19 pandemic, remain outstanding.  Earlier this year, Summit Bank announced that it was able to help 440 small businesses and nonprofits across Oregon under the U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP). 

Most recently, Summit Bank committed to donating $150,000 of its CARES Act PPP SBA loan income to make microloans to underserved members of the community in all three of its markets including minority-owned businesses, women-owned businesses, service-disabled veteran-owned businesses and emerging small businesses, particularly those operating in low income areas of the state.  The bank will partner with Community LendingWorks, a Community Development Financial Institution (CDFI) based in Springfield, Oregon to help underwrite, disburse and service the loans.  

Summit has continued to achieve strong loan growth over the year to date and the last twelve months with total net loans (excluding PPP loans) increasing by $64.4 million or 15.4 percent since September 30th 2019 and by  $44.6 million or 10.2 percent during the first nine months of 2020.  The Bank’s deposit base continues to grow as well with $38.5 million or 6.6 percent growth achieved during the third quarter and $186.3 million or 42.3 percent over the last twelve months.  

The Bank continues to hold extremely high levels of available liquidity during this period of uncertainty with $142.7 million of cash & short-term investments in securities as of September 30th 2020. This is more than twice the total of $67.5 million in similar assets held at September 30th 2019.  Non-performing assets have increased somewhat during the quarter with total non-performing assets at September 30th 2020 representing just 0.95 percent of total assets, an increase from 0.23 percent as September 30th 2019.  

Summit Bank is also pleased to report that our shareholders voted on and approved the formation of Summit Bank Group, Inc., a bank holding company.  All regulatory information and documentation for the Holding Company has been approved, making Summit Bank a wholly owned subsidiary of Summit Bank Group, Inc.  As a result, effective immediately, Summit Bank shareholders became 100% owners of the holding company.  

With offices in Eugene, Bend 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.  

SBA and Treasury Announce Simpler PPP Forgiveness of Loans $50,000 or Less

Effective the evening of October 8, the U.S. Small Business Administration, in consultation with the Treasury Department, released a simpler loan forgiveness application for PPP loans of $50,000 or less.  This action streamlines the PPP forgiveness process for the aforementioned size loans to provide financial and administrative relief to America’s smallest businesses.  

For complete information and to download the forms, see our Paycheck Protection Program page.

Summit Bank announces promotion of Michelle Cross and Galan Carter

September 21, 2020—Gary O’Connell, Central Oregon market president of Summit Bank (OTC Pink: SBKO) announced today that Associate Business Client Advisors Michelle Cross and Galan Carter have been promoted to Business Portfolio Managers.

Michelle Cross, a Central Oregon native, came to Summit Bank in 2018. She has a Bachelor’s degree from Oregon State University and received her MBA from the UCLA Anderson School of Management with an emphasis in Real Estate Finance and Development. Prior to joining Summit Bank, Cross worked for the Ratkovich Company, a commercial real estate development firm in Southern California.

Originally from Georgia, Galan Carter moved to Central Oregon with his wife in 2012. After high school Carter joined the Army and served for seven years as a paratrooper and began his banking career after his move to Central Oregon. He has worked with Summit Bank since 2018, and is passionate about the Central Oregon community. He currently serves on the Ronald McDonald House of Central Oregon Leadership Board.

Of both Cross and Carter, O’Connell says, “Our team is fortunate to have many strong performers. I’m proud of the work Michelle and Galan have done in their two years at Summit Bank, and I can’t wait to see what they will accomplish in their new roles.”

As Business Portfolio Managers, Cross and Carter will collaborate with lending team leaders to provide essential insight and expertise to the loan underwriting and credit analysis processes, while also overseeing lending partnerships with professionals and business owners in Central Oregon.

With offices in Eugene, Bend and downtown 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 hires Matt Dynice as new Vice President

September 17, 2020—Gary O’Connell, Central Oregon market president of Summit Bank (OTC Pink: SBKO) announced today that Summit Bank has hired Matt Dynice as Vice President, Business Client Advisor in the Central Oregon market. Dynice joins Summit Bank with more than 15 years of banking experience, with the last thirteen of those years having been with Umpqua Bank where he was the Senior Vice President and Commercial Markets Director for Albany/Corvallis, Central Oregon and Southern Oregon.

“Matt’s experience and incredible success with his previous institution paired with his fit with Summit Bank’s values of integrity, personal responsibility, and providing exceptional service make him an important asset to our team,” O’Connell says. “We are so excited to welcome him to the Summit Bank family, and look forward to everything he will surely contribute to the Central Oregon market and beyond.”

Dynice’s background traces back to Central Oregon, where he grew up and attended Mountain View High School. He holds a degree in Business Information Systems from Linfield College, and has an excellent reputation in the business and commercial lending community for his track record of production and strong credit quality. He is involved with the Central Oregon community, most recently serving as a Board Member for the Deschutes Children’s Foundation, and previously served as their Board Treasurer and Board President.

As Vice President, Business Client Advisor, Dynice will partner with local business-owners to help them reach and exceed their financial goals. He will also lead our Associate Business Client Advisor, Portfolio Managers, and Commercial Loan Support Specialist in Central Oregon.

With offices in Eugene, Bend and downtown Portland, Summit Bank is a community bank that specializes in providing high-level service to professionals and medium-sized businesses and their owners.