Summit State Bank reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2009. For the quarter, total interest income was $4,885,000 against $5,335,000 a year ago. Net interest income before provision for loan losses was $3,749,000 against $3,343,000 a year ago. Net interest income after provision for loan losses was $2,549,000 against $3,123,000 a year ago. Net interest income was $3,749,000 against $3,343,000 a year ago. Income before provision for income taxes was $606,000 against $1,307,000 a year ago. Net income was $355,000 against $764,000 a year ago. Net income available for common stockholders was $218,000 or $0.05 per basic and diluted share against $760,000 or $0.16 per basic and diluted share a year ago. Return on average assets was 0.41% against 0.86% a year ago. Return on average common equity was 1.82% against 6.34% a year ago. Book value per common share was $10.01 against $10.05 a year ago. For the full year, total interest income was $20,653,000 against $21,554,000 a year ago. Net interest income before provision for loan losses was $15,093,000 against $12,343,000 a year ago. Net interest income after provision for loan losses was $11,443,000 against $11,658,000 a year ago. Net interest income was $15,093,000 against $12,343,000 a year ago. Income before provision for income taxes was $3,543,000 against $1,716,000 a year ago. Net income was $2,081,000 against $1,009,000 a year ago. Net income available for common stockholders was $1,571,000 or $0.33 per basic and diluted share against $1,005,000 or $0.21 per basic and diluted share a year ago. Return on average assets was 0.59% against 0.29% a year ago. Return on average common equity was 3.30% against 2.15% a year ago. Book value per common share was $10.01 against $10.05 a year ago. The board of directors of the company declared a quarterly cash dividend of $0.09 per share on the company's common stock. The dividend is payable February 22, 2010 to shareholders of record as of the close of business on February 11, 2010. Additionally, a dividend on the preferred stock of $106,250 was declared payable on February 16, 2010.

Summit State Bank reported consolidated and unaudited earnings results for the third quarter and nine months ended September 30, 2009. The Bank had net income of $166,000 and net income available for common stockholders, which deducts the preferred dividends, of $28,000 or $0.01 per diluted share for the quarter ended September 30, 2009 compared to a net loss of $569,000, or $0.12 loss per diluted share for the quarter ended September 30, 2008. The quarter ended September 30, 2009 was negatively impacted by a provision for loan losses of $1,450,000 which increased the allowance for loan losses to gross loans to 1.6% from 1.5% at June 30, 2009. Net interest income increased $479,000, or 15%, to $3,770,000 during the third quarter of 2009 compared to $3,291,000 for the same quarter of 2008. Income before provision for income taxes was $282,000 against loss before provision for income taxes of $974,000 for the same quarter last year. Return on average assets was 0.19% against negative return on average assets of 0.65% for the same quarter last year. Return on average common equity was 0.23% against negative return on average common equity of 4.79% for the same period last year. Total interest income was $5,135,000 compared to $5,441,000 for the same period a year ago. Net income for the nine months ended September 30, 2009 was $1,726,000, and net income available for common stockholders was $1,353,000 or $0.28 per diluted share compared to $245,000 or $0.05 per diluted share for the same period in 2008. Net interest income increased to $11,344,000 during the nine months of 2009 compared to $9,000,000 for the same period of 2008. Income before provision for income taxes was $2,937,000 against $409,000 for the same period last year. Book value per common share was $10.10 against $9.77 for the same period last year. Return on average assets was 0.65% against 0.10% for the same period last year. Return on average common equity was 3.79% against 0.69% for the same period last year. Total interest income was $15,768,000 compared to $16,219,000 for the same period a year ago. On October 26, 2009, the Board of Directors declared a quarterly cash dividend of $0.09 per share on the company's common stock. The dividend is payable on November 20, 2009 to shareholders of record as of the close of business on November 11, 2009. Additionally, a dividend on the preferred stock of $106,250 was declared and payable on November 15, 2009.

Summit State Bank appointed Jim Brush to its Board of Directors. Jim Brush is extensively engaged in the Healdsburg community, including his past service on the boards for the Healdsburg Educational Foundation, Healdsburg Rotary Club, Healdsburg Museum and Historical Society, and the Healdsburg Arts Council. He is also a current member of the Healdsburg Planning Commission, the Healdsburg Green City Committee, the Healdsburg Boosters Club, as well as the Sonoma County Assessor's Appeals Board.

Summit State Bank Reports Over 100% Increase in 2009 Financial Results and Declaration of Dividend

Quote: Net income for the three months ended December 31, 2009 was $355,000 and net income available for common stockholders was $218,000, or $0.05 per diluted share, compared to net income of $764,000 and net income available for common stockholders of $760,000, or $0.16 per diluted share, for the same period in 2008.Summit State Bank ranked #1 in net income in its 30 member bank peer group (publicly traded California banks -- $250-$500 million in assets) for the recent 12 month period ending 9/30/09....
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Summit State Bank Reports Over 100% Increase in 2009 Financial Results and Declaration of Dividend

Quote: Net income for the three months ended December 31, 2009 was $355,000 and net income available for common stockholders was $218,000, or $0.05 per diluted share, compared to net income of $764,000 and net income available for common stockholders of $760,000, or $0.16 per diluted share, for the same period in 2008.Summit State Bank ranked #1 in net income in its 30 member bank peer group (publicly traded California banks -- $250-$500 million in assets) for the recent 12 month period ending 9/30/...
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Summit State Bank Reports Over 100% Increase in 2009 Financial Results and Declaration of Dividend

Quote: Net income for the three months ended December 31, 2009 was $355,000 and net income available for common stockholders was $218,000, or $0.05 per diluted share, compared to net income of $764,000 and net income available for common stockholders of $760,000, or $0.16 per diluted share, for the same period in 2008.Summit State Bank ranked #1 in net income in its 30 member bank peer group (publicly traded California banks -- $250-$500 million in assets) for the recent 12 month period ending 9/30/...
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Healdsburg Resident Jim Brush Joins Summit State Bank's Board of Directors

Quote: Founded in 1984, Summit State Bank has grown to become Sonoma County's top rated bank by Bauer Financial, with branches in Healdsburg, Petaluma, Rohnert Park, and two locations in Santa Rosa. "We are excited to welcome Mr. Brush as a member of our Board of Directors. His commitment to community and strong business background mirror much of Summit State Bank's vision and culture. Especially with the opening of our new Healdsburg branch, Mr. Brush's Board presence is an important part in continui...
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Summit State Bank Reports Continued Earnings Growth in Second Quarter and Declaration of Dividend

Quote: The increase was primarily attributable to the increase in FDIC insurance premiums of approximately $245,000 including the special assessment of $153,000 for the quarter ended June 30, 2009. Loans totaled $304,485,000 at June 30, 2009 representing a 10% increase compared to June 30, 2008. Total assets declined $8.7 million or 2% to $355,919,000 at June 30, 2009 compared to December 31, 2008, as the Bank's investment portfolio experienced calls on its long-term government agency securities. "W...
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Summit State Bank Reports Third Quarter Profit and Declaration of Dividend

Quote: Duryea. About Summit State Bank www.summitstatebank.com. Forward-looking Statements Except for historical information contained herein, the statements contained in this news release, are forward-looking statements within the meaning of the "safe harbor" provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. This release may contain forward-looking statements that are subject to risks and uncertainties. Such risk...
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Summit State Bank Reports 73 Percent Increase in Fourth Quarter Results and Declaration of Dividend

Quote: The excellent asset quality ratios at year end are testament to our prudent underwriting standards employed by our strong, experienced credit team. With our strong capital position, we look forward to continuing to serve the banking needs of our community, so essential in these times,'' said Thomas Duryea, President & CEO.About Summit State Bankhttp://www.summitstatebank.com.Forward-looking StatementsExcept for historical information contained herein, the statements contained in this news re...
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Summit State Bank Announces Receipt of Additional Capital

Quote: Duryea.About Summit State Bankhttp://www.summitstatebank.com.Forward-looking StatementsExcept for historical information contained herein, the statements contained in this news release, are forward-looking statements within the meaning of the ``safe harbor'' provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. This release may contain forward-looking statements that are subject to risks and uncertainties. Such ri...
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Summit State Bank Reports Continued Earnings Growth in Second Quarter and Declaration of Dividend

Quote: The increase was primarily attributable to the increase in FDIC insurance premiums of approximately $245,000 including the special assessment of $153,000 for the quarter ended June 30, 2009. Loans totaled $304,485,000 at June 30, 2009 representing a 10% increase compared to June 30, 2008. Total assets declined $8.7 million or 2% to $355,919,000 at June 30, 2009 compared to December 31, 2008, as the Bank's investment portfolio experienced calls on its long-term government agency securities. "W...
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Summit State Bank Reports Increase of Over 100% in First Quarter Net Income and Declaration of Dividend

Quote: Duryea.``We are very proud of the team that we are building which has resulted in Summit State Bank receiving the highest bank rating in Sonoma County -- Five Star Superior -- by Bauer Financial, the industry's premier rating service. This superior rating provides our customers with the added comfort of knowing their deposits are safe and sound so important in these times,'' said Mr. Duryea.About Summit State Bankhttp://www.summitstatebank.com.Forward-looking StatementsExcept for historical info...
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Healdsburg Resident Jim Brush Joins Summit State Bank's Board of Directors

Quote: Founded in 1984, Summit State Bank has grown to become Sonoma County's top rated bank by Bauer Financial, with branches in Healdsburg, Petaluma, Rohnert Park, and two locations in Santa Rosa. "We are excited to welcome Mr. Brush as a member of our Board of Directors. His commitment to community and strong business background mirror much of Summit State Bank's vision and culture. Especially with the opening of our new Healdsburg branch, Mr. Brush's Board presence is an important part in continui...
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Summit State Bank Reports Third Quarter Profit and Declaration of Dividend

Quote: Duryea. About Summit State Bank www.summitstatebank.com. Forward-looking Statements Except for historical information contained herein, the statements contained in this news release, are forward-looking statements within the meaning of the "safe harbor" provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. This release may contain forward-looking statements that are subject to risks and uncertainties. Such risk...
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