Summit State Bank Reports Net Income of $10.8 Million for the Year 2023; Declares Quarterly Cash Dividend of $0.12 Per Common Share

January 30, 2024

https://www.globenewswire.com/news-release/2024/01/30/2820054/7752/en/Summit-State-Bank-Reports-Net-Income-of-10-8-Million-for-the-Year-2023-Declares-Quarterly-Cash-Dividend-of-0-12-Per-Common-Share.html

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.

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