SSBI - Dividend announcements

SANTA ROSA, Calif., Jan. 27, 2026 (GLOBE NEWSWIRE) -- Summit State Bank (the "Bank") (NASDAQ:SSBI) today reported net income of $1,067,000, or $0.16 per diluted share for the fourth quarter ended December 31, 2025, compared to net loss of $7,142,000, or $1.06 loss per diluted share for the fourth quarter ended December 31, 2024. For the year ended December 31, 2025, the Bank reported net income of $6,796,000, or $1.01 per diluted share compared to a net loss of $4,193,000, or $0.62 loss per diluted share for the year ended December 31, 2024.         "In 2025, our focus was on building a strong foundation for the future, and we made meaningful progress toward that goal," said Brian Reed, P

SANTA ROSA, Calif., Oct. 29, 2025 (GLOBE NEWSWIRE) -- Summit State Bank (the "Bank") (NASDAQ:SSBI) today reported net income of $818,000, or $0.12 per diluted share for the third quarter ended September 30, 2025, compared to net income of $626,000, or $0.09 per diluted share for the third quarter ended September 30, 2024. "The Bank delivered steady operating results in the third quarter of 2025, marking our third consecutive quarter of solid earnings," said Brian Reed, President and CEO. "Our operating performance was supported by higher net interest income and continued margin expansion compared to the same period last year. While we've made significant headway in resolving the problem l

SANTA ROSA, Calif., July 29, 2025 (GLOBE NEWSWIRE) -- Summit State Bank (the "Bank") (NASDAQ:SSBI) today reported net income of $2,417,000, or $0.36 per diluted share for the second quarter ended June 30, 2025, compared to net income of $928,000, or $0.14 per diluted share for the second quarter ended June 30, 2024. "We delivered strong operating results in the second quarter of 2025 – our second consecutive quarter of solid earnings - driven by robust net interest income and meaningful margin expansion," said Brian Reed, President and CEO. "With notable progress made in addressing problem loans that weighed on 2024 results, we are encouraged by the momentum in our earnings outloo

SANTA ROSA, Calif., April 29, 2025 (GLOBE NEWSWIRE) -- Summit State Bank (the "Bank") (NASDAQ:SSBI) today reported net income of $2,494,000, or $0.37 per diluted share for the first quarter ended March 31, 2025, compared to net income of $1,395,000, or $0.21 per diluted share for the first quarter ended March 31, 2024. "Our operating performance for the first quarter of 2025 was a significant improvement over the prior quarter, fueled by strong net interest income generation and net interest margin expansion," said Brian Reed, President and CEO. "We are feeling positive about our earnings trajectory, as we have made significant progress in resolving problem loans which negatively impacted

SANTA ROSA, Calif., March 28, 2025 (GLOBE NEWSWIRE) -- Summit State Bank (the "Bank") (NASDAQ:SSBI) today reported that it has revised its fourth quarter and full year 2024 financial results from those announced in the press release dated January 28, 2025. In connection with the preparation and review of its 2024 financial statements, the Bank has concluded it is necessary to record a $693,000 other real estate owned valuation adjustment, a $146,000 increase in reserve for unfunded loans, and a $76,000 credit loss provision reversal for the fourth quarter 2024. The need for the valuation adjustment results from an updated appraisal report obtained in the first quarter of 2025. The addition

SANTA ROSA, Calif., Jan. 28, 2025 (GLOBE NEWSWIRE) -- Summit State Bank (the "Bank") (NASDAQ:SSBI) today reported a net loss of $6,605,000, or $0.98 loss per diluted share for the fourth quarter ended December 31, 2024, compared to net income of $1,901,000, or $0.28 per diluted share for the fourth quarter ended December 31, 2023. The current quarter's results were impacted by expenses including a $6,646,000 provision for credit losses on loans and a $4,119,000 one-time non-cash impairment charge to write off the remaining balance of goodwill. The Bank has taken significant charge offs and provisions for credit losses in the fourth quarter of 2024 as a proactive step towards resolving its

SANTA ROSA, Calif., Oct. 30, 2024 (GLOBE NEWSWIRE) -- Summit State Bank (the "Bank") (NASDAQ:SSBI) today reported net income for the third quarter ended September 30, 2024 of $626,000, or $0.09 per diluted share, compared to net income of $1,821,000, or $0.27 per diluted share for the third quarter ended September 30, 2023. Net operating income before credit loss provision and income tax was $2,122,000 for the third quarter ended September 30, 2024 compared to $2,520,000 for the third quarter ended 2023. In September 2024 the Bank declared its eighty-third consecutive quarterly cash dividend. "In this time of economic uncertainty, the Board is focused on balancing its commitment to share

SANTA ROSA, Calif., Sept. 12, 2024 (GLOBE NEWSWIRE) -- Summit State Bank's (the "Bank") (NASDAQ:SSBI) Board of Directors declared the Bank's eighty third consecutive quarterly cash dividend to common shareholders for $0.04 per share on September 11, 2024. The dividend will be paid on October 10, 2024, to shareholders of record on October 3, 2024. "The current rate environment, and its impact on earnings, led to our decision to reduce the quarterly cash dividend. The dividend reduction reflects the Bank's deliberate approach to build capital," said Brian Reed, President and CEO. "We recognize the importance and impact of the dividend reduction on all of our shareholders, and it was not mad

SANTA ROSA, Calif., July 31, 2024 (GLOBE NEWSWIRE) -- Summit State Bank (the "Bank") (NASDAQ:SSBI) today reported net income for the second quarter ended June 30, 2024 of $928,000, or $0.14 per diluted share, compared to net income of $2,985,000, or $0.45 per diluted share for the second quarter ended June 30, 2023. "Our second quarter earnings continue to be directly impacted by the high interest rate environment and its impact on funding costs, a challenge that is affecting the entire banking industry," said Brian Reed, President and CEO. "We are implementing steps to grow net income and remain focused on improving our financial performance. Loan balances decreased modestly during the s

SANTA ROSA, Calif., April 30, 2024 (GLOBE NEWSWIRE) -- Summit State Bank (the "Bank") (NASDAQ:SSBI) today reported net income for the first quarter ended March 31, 2024 of $1,395,000, or $0.21 per diluted share, compared to net income of $4,116,000, or $0.62 per diluted share for the first quarter ended March 31, 2023. The Board of Directors declared the Bank's eighty second consecutive quarterly cash dividend for common shareholders of $0.12 per share on April 29, 2024. It will be paid on May 23, 2024, to shareholders of record on May 16, 2024. "First quarter earnings were impacted by current challenges facing the entire banking industry. We are implementing steps to reverse declines in

SANTA ROSA, Calif., Jan. 30, 2024 (GLOBE NEWSWIRE) -- Summit State Bank (NASDAQ:SSBI) today reported net income for the year ended December 31, 2023 of $10,822,000, or $1.62 per diluted share, a decrease of $6,146,000, or 36%, compared to net income of $16,968,000, or $2.54 per diluted share for the year ended December 31, 2022. For the fourth quarter ended December 31, 2023, net income was $1,901,000, or $0.28 per diluted share, compared to $4,553,000 or $0.68 per diluted share, for the fourth quarter ended December 31, 2022. The Board of Directors declared a quarterly cash dividend of $0.12 per share on January 29, 2024. The quarterly dividend will be paid on February 15, 2024 to sh

SANTA ROSA, Calif., Oct. 25, 2023 (GLOBE NEWSWIRE) -- Summit State Bank (NASDAQ:SSBI) today reported net income for the third quarter ended September 30, 2023 of $1,821,000, or $0.27 per diluted share, a decrease of $2,158,000, or 54.2%, compared to net income of $3,979,000, or $0.59 per diluted share for the third quarter ended September 30, 2022. Financial results for the quarter reflect strong non-interest income resulting from increased gain on sale of loans. Lower net interest income resulting from an increase in interest expense on deposits offset aforementioned increase in non-interest income. The Board of Directors declared a quarterly cash dividend of $0.12 per share on October 2

SANTA ROSA, Calif., July 25, 2023 (GLOBE NEWSWIRE) -- Summit State Bank (NASDAQ:SSBI) today reported net income for the second quarter ended June 30, 2023 of $2,985,000, or $0.45 per diluted share, a decrease of $1,516,000, or 33.7%, compared to net income of $4,501,000, or $0.67 per diluted share for the second quarter ended June 30, 2022. Financial results for the quarter reflect strong net interest income offset by lower non-interest income resulting from reduced gain on sale of loan activity. Additionally, a quarterly dividend of $0.12 per share was declared for common shareholders. The Board of Directors declared a quarterly cash dividend of $0.12 per share on July 24, 2023. The quar

SANTA ROSA, Calif., April 25, 2023 (GLOBE NEWSWIRE) -- Summit State Bank (NASDAQ:SSBI) today reported net income for the first quarter ended March 31, 2023 increased $181,000, or 5%, to $4,116,000, or $0.62 per diluted share, compared to net income of $3,935,000, or $0.59 per diluted share for the first quarter ended March 31, 2022. Steady deposit growth and reduced operating expenses contributed to profitability for the quarter. Additionally, a quarterly dividend of $0.12 per share was declared for common shareholders. The Board of Directors declared a quarterly cash dividend of $0.12 per share on April 24, 2023. The quarterly dividend will be paid on May 18, 2023 to shareholders of reco

SANTA ROSA, Calif., Jan. 24, 2023 (GLOBE NEWSWIRE) -- Summit State Bank (NASDAQ:SSBI) today reported net income for the year ended December 31, 2022 increased $2,270,000, or 15%, to $16,968,000, or $2.54 per diluted share, compared to net income of $14,698,000, or $2.20 per diluted share for the year ended December 31, 2021. Strong loan and deposit growth and net interest margin expansion contributed to profitability for the quarter. For the fourth quarter ended December 31, 2022, net income increased 24% to $4,553,000, or $0.68 per diluted share, compared to $3,686,000, or $0.55 per diluted share, for the same period in 2021. Additionally, a quarterly dividend of $0.12 per share was decla

SANTA ROSA, Calif., Oct. 26, 2022 (GLOBE NEWSWIRE) -- Summit State Bank (NASDAQ:SSBI) today reported net income for the third quarter ended September 30, 2022 increased $183,000, or 5%, to $3,979,000, or $0.59 per diluted share, compared to net income of $3,796,000, or $0.57 per diluted share for the third quarter ended September 30, 2021. Strong loan and deposit growth and net interest margin expansion contributed to profitability for the quarter. In the first nine months of 2022, net income increased 10% to $12.4 million, or $1.86 per diluted share, compared to $11.0 million, or $1.65 per diluted share, in the first nine months of 2021. Additionally, a quarterly dividend of $0.12 per sha

SANTA ROSA, Calif., July 26, 2022 (GLOBE NEWSWIRE) -- Summit State Bank (NASDAQ:SSBI) today reported net income for the quarter ended June 30, 2022 of $4,501,000 and diluted earnings per share of $0.67. This compares to net income of $3,898,000 and diluted earnings per share of $0.58 for the quarter ended June 30, 2021. Additionally, a quarterly dividend of $0.12 per share was declared for common shareholders. Dividend The Board of Directors declared a $0.12 per share quarterly dividend on July 25, 2022 to be paid on August 18, 2022 to shareholders of record on August 11, 2022. Net Income and Results of Operations Net income increased $603,000 or 15% the second quarter

SANTA ROSA, Calif., April 26, 2022 (GLOBE NEWSWIRE) -- Summit State Bank (NASDAQ:SSBI) today reported net income for the quarter ended March 31, 2022 of $3,935,000 and diluted earnings per share of $0.59. This compares to net income of $3,317,000 and diluted earnings per share of $0.50 for the quarter ended March 31, 2021. Additionally, a quarterly dividend of $0.12 per share was declared for common shareholders. Dividend The Board of Directors declared a $0.12 per share quarterly dividend on April 25, 2022 to be paid on May 19, 2022 to shareholders of record on May 12, 2022. Net Income and Results of Operations Net income increased $618,000 or 19% the first quarter of 2022 compared to

SANTA ROSA, Calif., Jan. 25, 2022 (GLOBE NEWSWIRE) -- Summit State Bank (NASDAQ:SSBI) today reported record net income for the year ended December 31, 2021 of $14,698,000 and diluted earnings per share of $2.20. This compares to net income of $10,517,000 and diluted earnings per share of $1.57 for the year ended December 31, 2020. Additionally, a quarterly dividend of $0.12 per share was declared for common shareholders. Dividend The Board of Directors declared a $0.12 per share quarterly dividend on January 24, 2022 to be paid on February 17, 2022 to shareholders of record on February 10, 2022. The Bank also issued a 10% stock dividend that was paid on November 4, 2021 to shareho

SANTA ROSA, Calif., Oct. 27, 2021 (GLOBE NEWSWIRE) -- Summit State Bank (NASDAQ:SSBI) today reported net income for the quarter ended September 30, 2021 of $3,796,000 and diluted earnings per share of $0.63. This compares to net income of $2,954,000 and diluted earnings per share of $0.49 for the quarter ended September 30, 2020. Additionally, a quarterly dividend of $0.12 per share was declared for common shareholders. Dividend The Board of Directors declared a $0.12 per share quarterly dividend on October 26, 2021 to be paid on November 18, 2021 to shareholders of record on November 11, 2021. In September the Bank announced that its Board of Directors declared a 10% stock dividend to

SANTA ROSA, Calif., Sept. 28, 2021 (GLOBE NEWSWIRE) -- Summit State Bank (NASDAQ:SSBI) today announced that its Board of Directors declared a 10% stock dividend to be paid on or about November 4, 2021 to shareholders of record as of the close of business on October 29, 2021. Each shareholder of the Bank will receive one additional share of stock for every ten shares owned on the record date of October 29, 2021. Cash will be paid in lieu of fractional shares based on the closing price of the common stock on the record date. "We have been very pleased with the Bank's financial performance. Our core operations have achieved high levels of profitability and exceeded our strategic plans despit

SANTA ROSA, Calif., July 27, 2021 (GLOBE NEWSWIRE) -- Summit State Bank (NASDAQ:SSBI) today reported record net income for the quarter ended June 30, 2021 of $3,898,000 and diluted earnings per share of $0.64. This compares to net income of $2,218,000 and diluted earnings per share of $0.37 for the quarter ended June 30, 2020. Additionally, a quarterly dividend of $0.12 per share was declared for common shareholders. Dividend The Board of Directors declared a $0.12 per share quarterly dividend on July 26, 2021 to be paid on August 20, 2021 to shareholders of record on August 13, 2021. Net Income and Results of Operations Net income increased $1,680,000 or 76% the second quarter of 2021

SANTA ROSA, Calif., April 27, 2021 (GLOBE NEWSWIRE) -- Summit State Bank (NASDAQ:SSBI) today reported record net income for the quarter ended March 31, 2021 of $3,317,000 and diluted earnings per share of $0.55. This compares to net income of $2,415,000 and diluted earnings per share of $0.40 for the quarter ended March 31, 2020. Additionally, a quarterly dividend of $0.12 per share was declared for common shareholders. Dividend The Board of Directors declared a $0.12 per share quarterly dividend on April 26, 2021 to be paid on May 21, 2021 to shareholders of record on May 14, 2021. Net Income and Results of Operations For the quarter ended March 31, 2021, Summit State Bank ("B

SANTA ROSA, Calif., Jan. 26, 2021 (GLOBE NEWSWIRE) -- Summit State Bank (Nasdaq: SSBI) today reported record net income for the year ended December 31, 2020 of $10,517,000 and diluted earnings per share of $1.73. This compares to net income of $6,477,000 and diluted earnings per share of $1.07 for the year ended December 31, 2019. Additionally, a quarterly dividend of $0.12 per share was declared for common shareholders. Dividend The Board of Directors declared a $0.12 per share quarterly dividend on January 25, 2021 to be paid on February 19, 2021 to shareholders of record on February 12, 2021. Net Income and Results of Operations