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Summit Bank Group, Inc. Reports 2025 2nd Quarter Earnings

EUGENE, Ore.--(BUSINESS WIRE)-- Summit Bank Group, Inc. (OTC Pink: SBKO) (the 鈥淐ompany鈥�), the holding company for Summit Bank (the 鈥淏ank鈥�), reported the following:

Summit Bank Group Reports 2025 2nd Quarter Earnings

• Q2 2025 Net Income - $3.33 million or $0.42 per fully diluted share, an increase of 22.1 percent over Q2 2024.
• 2025 Year to Date Net Income - $6.25 million or $0.80 per fully diluted share, an increase of 21.3 percent over similar period in 2024.
• Cash and Securities totaled $131.6 million - 10.5 percent of assets and increased 7.9 percent over June 30, 2024.
• Year over year Net Loan Growth - $86.1 million or 8.4 percent.
• Year over year Deposit Growth - $80.1 million or 7.8 percent.
• Q2 2025 Net Interest Income increased $1.77 million or 14.5 percent over Q2 2024.

Summit Bank Group reported net income for the second quarter of $3.33 million or 42 cents per fully diluted share. Comparable earnings for second quarter of 2024 were $2.70 million, or 35 cents per fully diluted share, representing an increase of 22.1 percent to earnings per fully diluted share. An increase in net interest income of $1.77 million, or 14.5 percent, concurrent with an increase in noninterest expense of only $698 thousand were the primary drivers of the growth in earnings. The increase in net interest income was the result of continued strong loan growth across all markets year over year.

The Bank continues to maintain a strong liquidity position with cash and available for sale short-term securities totaling $131.6 million, which represents 10.5 percent of total assets as of June 30, 2025, compared to $122 million, or 10.6 percent of total assets, as of June 30, 2024. The Bank maintains secured borrowing commitments from the Federal Home Loan Bank and the Federal Reserve Bank with total available borrowing capacity as of June 30, 2025, of $323 million, or 25.9 percent of total assets. Combined, the Bank鈥檚 cash and available secured borrowing as of June 30, 2025 totaled $413 million, which equaled 33.1 percent of total assets and 108.0 percent of total estimated uninsured deposits. This total has increased from $391 million one year ago, which equaled 34.0 percent of total assets.

The Bank has achieved symmetrical balance sheet growth over the last twelve months with $86 million added to loans and $80 million added to deposits. Additionally, the quality and mix of deposits has improved over the same period; reducing time certificates of deposit from 13.7 percent of total deposits to 2.6 percent currently. 鈥淥ur second quarter results reflect the strength of our relationship-based approach to banking. The continued growth of core deposits is not only a sign of the financial strength and growth of our clients but is also a testament to the number of new locally-owned businesses, professional firms and non-profit entities choosing to move their full banking relationship to us in all three of our markets,鈥� said Craig Wanichek, President and CEO.

Return on average equity over the trailing four quarters has improved for the fifth consecutive quarter, at 11.5 percent for both the current quarter and the trailing four quarters. Total shareholders鈥� equity ended the second quarter at $115.8 million, an increase of $14.3 million or 14.1 percent since June 30, 2024. As the Company continues its 22^nd year of operations, capital levels remain very strong, supporting consistent asset growth with similarly strong retained earnings, which have totaled $56.6 million over the last five years.

Total non-performing assets as of June 30, 2025, which continued to decline as a percentage of total assets, decreased to just 0.04 percent following 0.20 percent as of December 31, 2024 and 0.10 percent as of March 31, 2025.

In November 2024, the Company announced the Board鈥檚 authorization to repurchase shares of its common stock up to a maximum total volume of $1.0 million. 鈥淥ur share repurchase program remains open, and we continue to be active in the market, reflecting our confidence in the Company鈥檚 long-term value and commitment to enhancing shareholder returns,鈥� said Craig Wanichek, President and CEO.

Summit Bank Group Inc., through its wholly owned subsidiary Summit Bank, maintains offices in Eugene, Central Oregon, and Portland, specializing in providing high-level service to professionals and medium-sized businesses and their owners. The Bank was voted for the fourth year in a row as one of Oregon鈥檚 鈥淭op 100 Companies to Work For,鈥� according to Oregon Business Magazine. In 2023, 2024 and 2025, Summit Bank was honored as 鈥淔avorite Bank鈥� in the Eugene 搁别驳颈蝉迟别谤-骋耻补谤诲鈥檚 annual Reader鈥檚 Choice Awards and 鈥淏est Bank鈥� by Central Oregon鈥檚 Bend Bulletin. Summit Bank Group Inc. is quoted on the OTCPK under the symbol SBKO.

Forward-Looking Statements

This press release contains certain forward-looking statements about the Company and the Bank. Forward-looking statements include statements regarding anticipated future events or financial results and can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include increased competitive pressures, inflation, changes in the interest rate environment, general economic conditions or conditions within the securities markets, potential recessionary conditions, the imposition of tariffs or other domestic or international governmental policies and retaliatory responses, changes in asset quality, charge-offs and credit loss provisions, changes in demand for our products and services, availability of low-cost funding, legislative, accounting, tax and regulatory changes, including changes in the monetary and fiscal policies of the Board of Governors of the Federal Reserve System, political developments, uncertainties or instability, catastrophic events, acts of war or terrorism, natural disasters or breach of our operational or security systems or infrastructure, including cyberattacks that could adversely affect the Company鈥檚 financial condition and results of operations and the business in which the Company and the Bank are engaged.

Accordingly, you should not place undue reliance on forward-looking statements. The Company undertakes no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release.

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View source version on businesswire.com:

Craig Wanichek

President & Chief Executive Officer

541-684-7500

Source: Summit Bank Group, Inc.