Summit State Bank Earnings Increase 15% to $17.0 Million for the Year 2022 and Increase 24% to $4.6 Million for Fourth Quarter 2022; Declares Quarterly Cash Dividend of $0.12 Per Common Share

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 declared for common shareholders.

Continue Reading on Global News Wire

How higher costs can hurt local housing construction

August 9, 2024 No Comments

A recent Windsor Town Council meeting sounded like a battle of the builder budgets, with one saying that costs

Sonoma County Hosts Climate Workshop

December 11, 2023 No Comments

The Sonoma County Board of Supervisors will host a Climate Action and Resiliency workshop this morning. Beginning at 8:30 AM,

All ages welcome? Local youth feeling left out at Sonoma County events

December 8, 2023 No Comments

As a college student, I love free events. When you’re a young person, free or cheap events in parks, town

Kathleen Rhodes

Kathleen Rhodes is the founder and CEO of Appy Marketing, a digital marketing agency that specializes in helping small businesses and startups grow their online presence. With over 15 years of experience in the industry, Kathleen has a proven track record of delivering successful marketing campaigns that drive results. Her passion for technology and innovation has led her to develop cutting-edge strategies that leverage the latest digital tools and platforms. Kathleen is known for her strategic thinking, creative problem-solving, and unwavering commitment to her clients’ success. Under her leadership, Appy Marketing has become a trusted partner for businesses looking to thrive in the digital age.

What's Up Santa Rosa

See Your Business Here!

Would you like to add your business to our site? It’s FREE! Please click the button now.

ADD YOUR BUSINESS