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Next Generation of Banking Leaders Graduate from OBA Executive Development Program

Eugene, Oregon March 3, 2021. Summit Bank is pleased to announce the graduation of three of our Summit Bank colleagues from the Oregon Banker’s Association’s extensive Executive Development Program (EDP).  The 2021 OBA Executive Development Program graduates are Vice President & Business Client Advisor Carly Carmichael (Central Oregon), Vice President and Business Client Advisor Brian Thomas (Portland Metro) and Vice President & Director of Operations Renda Wolford (Eugene/Springfield).  The graduation ceremony was held virtually last month. 

The Executive Development Program helps foster the next generation of banking leaders across Oregon. The OBA program consists of 12 one-day sessions.  One of the programs featured guest speaker Joe Zavaglia, who spoke about credibility and ethics.  According to Thomas, “I enjoyed the class – it helped us process how to make right, right decisions. There are no right answers so finding the right solution for each client in banking is dire.” 

OBA President and CEO Linda Navarro mentioned that the graduates this year faced a series of adversities, including the threat of the pandemic. She said that all graduates deserve extra praise for their willingness and determination to finish out the program this year when the class converted to digital learning.   

The Executive Development Program includes sessions about Bank Profitability, Asset Liability Management and Understanding Credit Risk.  According to Carmichael, “Learning what other banks and banking professionals are doing in the areas we studied provided strong insight and new ideas to my work ethic, organization, and communication with others internally and externally.”  

Summit Bank President and CEO Craig Wanichek says the program provides a very comprehensive curriculum. “We are honored to have three colleagues complete the Oregon Bank Association Executive Development Program. It is a wonderful program for leaders on our team to get an immersion type of education in all areas of banking. It will be remarkable to see them utilize what they learned in all three of our markets.” 

With offices in Eugene, Central Oregon 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 is quoted on the NASDAQ Over-the-Counter Bulletin Board as SBKO.

Contact:  Craig Wanichek, President & Chief Executive Officer 541-684-7500

Summit Bank Hires Jamie Shulman as Portland Market President

PORTLAND, OR  •  February 24, 2021  •  Summit Bank (OTC Pink: SBKO) 

Summit Bank is pleased to announce that Jamie Shulman, a longtime Pacific Northwest commercial banking executive and community leader, has joined Summit Bank as Market President for the Portland Metropolitan and Southwest Washington market. In this newly established role, Shulman will utilize his depth of banking experience to support the growth of Summit Bank’s client base in the aforementioned market. 

Shulman’s prior executive role was as President, Chief Executive Officer of a regional business bank with operations in Portland. While in this role, he led the significant growth of the bank. Preceding that, he worked in senior executive positions at two national banks. He is skilled in the areas of strategic planning, key account management, risk management, operational excellence, regulatory compliance, financial analysis and business development. 

“Jamie is an incredible banker and an extraordinary community leader,” says Summit Bank President & CEO Craig Wanichek. “We look forward to Jamie playing a major role in leading our Portland Metropolitan team to become Oregon’s Business Bank of preference as we grow in the marketplace.” 

According to Portland Market President Jamie Shulman, “I am very excited to join the Summit Bank team. We are committed to being flexible, responsive and aligned with the goals of our clients. We look forward to becoming a meaningful participant in the Portland Metropolitan market.” 

Shulman, who has a Bachelor of Science from Denver University, is also involved in the Portland community. He is a member of the Oregon, Washington and Idaho Banker Associations, a Committee Member of the Jewish Federation of Greater Portland and has served on numerous other nonprofit boards and committees. “I look forward to the opportunity to help lead Summit Bank to become Oregon’s Business Bank of preference for businesses in the Portland Metropolitan and Southwest Washington areas. We have a strong team and I am excited to work collaboratively with our colleagues, clients, and members of our community.” 

Shulman Press Release (PDF)

Summit Bank Announces Gina Kaveny as Vice President, Market Development Officer

February 3, 2020 – Craig Wanichek, President and Chief Executive Officer of Summit Bank (NASDAQ: SBKO), today announced that Gina Kaveny has joined the local Portland banking team as Vice President and Market Development Officer. 

“Gina brings an innovative range of experience and expertise to Summit,” said Wanichek.  “Through her industry and award-winning sales and business development skills to her vast knowledge of marketing, public relations, supply chain finance, asset-based lending, and corporate communication skills, she has a clear understanding of the diverse range of businesses throughout the Pacific Northwest. 

She is a strategic thinker and creator who has a proven ability to enhance our client experience on all touchpoints. Her understanding of the Greater Portland and SW Washington business community will help strengthen Summit Bank.  We are excited to have her on the team.” 

Gina has over 20 years of experience helping companies build their brand and market share in the Northwest. Companies have included a large regional accounting firm, an alternative commercial finance lender and a global Fortune 50 logistics and supply chain leader.

A native Oregonian, Gina and her husband own a small business employing over 50 employees, so she has a personal interest in seeing local businesses succeed. 

She serves as a Board Member and Programs Committee Chair for the Association of Corporate Growth (ACG) in Portland.  She is also a Development and Stewardship Committee member and active volunteer for Project Lemonade. 

“I am happy to join Summit Bank,” said Kaveny.  “I am excited to help business leaders simplify their banking and arrive at answers that are flexible, creative and help them grow and succeed.  I also look forward to helping strengthen Summit Bank’s relationships in the Greater Portland and SW Washington area”.

Summit Bank has offices in Eugene/Springfield, Central Oregon, and Portland and specializes in providing high-level service to professionals and medium-sized businesses and their owners. 

Summit was recognized in 2020 as the Top Small Business Administration (SBA) Community Bank Lender in the State of Oregon.  Summit is quoted on NASDAQ Over the Counter Bulletin Board as SBKO.

Summit Bank Reports 2020 and 4th Quarter Earnings

1/27/2021 9:00 AM ET

EUGENE, Ore.–(BUSINESS WIRE)– Summit Bank (OTC Pink: SBKO):

  • 2020 Net Income – $7.93 million, up 41.3 percent from 5.62 million in 2019.
  • $1.38 per fully diluted share, up 29.1 percent from 1.07 in 2019.
  • 2020 Net Loan Growth – $76.5 million or 17.5 percent (excluding PPP loans).
  • PPP loans made during Q2 2020 – $119 million of which $61 million remain outstanding at FYE.
  • 2020 Deposit Growth – $206 million or 45.6 percent over FYE 2019.

We were pleased to originate $119 million in emergency Paycheck Protection Program (PPP) loans to assist clients in mitigating the effects of the COVID-19 pandemic in our Eugene/Springfield, Central Oregon and Portland Metropolitan market areas. These loans helped businesses and nonprofit entities hire back or retain thousands of Oregon employees. The Bank also saw a strong year over year improvement in the results and operations of all our teams including the Portland Metropolitan office, which opened in 2019.

“This year, we are tremendously proud to have worked closely alongside our clients, including 440 small businesses and nonprofits across Oregon under the U.S. Small Business Administration’s (SBA) Paycheck Protection Program,” said President and CEO Craig Wanichek. “This symbiotic relationship enabled thousands of Oregonians in the areas we serve to remain employed during the COVID-19 pandemic this year. We’ve had the opportunity to partner with many new clients as well and are humbled by the confidence our communities and clients have in Summit Bank.”

Summit achieved its eighth consecutive year of annual loan growth in excess of 20 percent during 2020. Total net loans (inclusive of PPP loans) as of December 31, 2020, were $572.6 million, representing a 30.9 percent increase over the fiscal 2019 total of $437.5 million. Deposit growth was particularly high during the year, with total deposits increasing by $205.7 million or 45.6 percent over the previous year. The Bank has maintained consistent profitability concurrent with its rapid growth during 2020. Summit also completed a successful capital offering during the year ($7.9 million) while achieving a return on average equity for the year of 14.3 percent. The 2020 fiscal year marked Summit’s eighth consecutive year producing a return on equity in excess of 10 percent.

Summit’s capital offering combined with strong retained earnings have added significant strength to the Bank’s capital position, with total shareholders’ equity increasing by $16.3 million to $63.1 million, an increase of 34.8 percent. Liquidity remains very strong with cash and short term investments as of fiscal year end 2020 at $160.9 million or 28.1 percent of total net loans.

The Bank continues to hold very low levels of non-performing assets with total non-performing assets at December 31, 2020 representing just 0.26 percent of total assets, down from 0.90 percent as of September 30, 2020, and a slight increase from 0.18 percent as of December 31, 2019.

Summit Bank, with offices in Eugene/Springfield, Central Oregon and the Portland Metropolitan area, specializes in providing high-level service to professionals and medium-sized businesses and their owners. Summit was recognized in 2020 as the Top Small Business Administration (SBA) Community Bank Lender in the State of Oregon. Summit Bank is quoted on the NASDAQ Over-the-Counter Bulletin Board as SBKO.

SBA offers webinar for shuttered venue operations grants

Are you a theatrical producer, talent representative, venue promoter or do you operate a live venue, live performing arts organization, movie house or cultural institution and have been impacted by COVID-19?

Register for SBA’s webinar on Thursday, January 14, at 3 p.m. ET, for a preliminary overview of the Shuttered Venue Operators Grant program included in the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act. Eligible organizations with a reduction in revenue due to the COVID-19 pandemic will have the opportunity to receive up to a $10 million grant under the program.

This webinar will provide introductory information about the grants, who can apply, how potential organizations can prepare, and additional details re: eligibility and applications.  

Click to register.

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 or

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.