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SSBI

Summit State Bank

SSBI

Summit State Bank • NASDAQ
$10.85 ▼ -0.27% (-0.03)
Market Cap $72.90 M
52w High $12.60
52w Low $6.85
Dividend Yield 0.04%
P/E -51.67
Volume 1
Outstanding Shares 6.72M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $15.128M ▼ $5.545M ▼ $818K ▼ 5.407% ▼ $0.12 ▼ $1.366M ▼
Q2-2025 $15.493M ▲ $6.305M ▲ $2.417M ▼ 15.601% ▼ $0.36 ▼ $3.335M ▲
Q1-2025 $15.188M ▼ $6.253M ▼ $2.494M ▲ 16.421% ▲ $0.37 ▲ $3.2M ▲
Q4-2024 $15.404M ▼ $9.986M ▲ $-7.142M ▼ -46.365% ▼ $-1.06 ▼ $-8.441M ▼
Q3-2024 $16.026M $6.181M $626K 3.906% $0.093 $926K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $133.788M ▲ $1.032B ▼ $934.364M ▼ $98.108M ▲
Q1-2025 $83.072M ▼ $1.063B ▼ $968.022M ▼ $95.34M ▲
Q4-2024 $111.471M ▼ $1.067B ▼ $975.371M ▼ $91.723M ▼
Q3-2024 $157.133M ▲ $1.119B ▲ $1.018B ▲ $100.662M ▲
Q2-2024 $123.247M $1.082B $984.096M $97.949M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $2.418M ▼ $-56K ▲ $28.525M ▼ $-34.467M ▼ $-5.998M ▼ $-66K ▲
Q1-2025 $2.494M ▲ $-3.185M ▼ $29.687M ▲ $-5.497M ▲ $21.005M ▲ $-3.188M ▼
Q4-2024 $-7.142M ▼ $1.664M ▼ $9.02M ▲ $-40.209M ▼ $-29.525M ▼ $1.661M ▼
Q3-2024 $626K ▼ $2.321M ▲ $6.047M ▲ $32.418M ▲ $40.786M ▲ $2.278M ▲
Q2-2024 $928K $1.149M $-188K $1.469M $2.43M $1.037M

Five-Year Company Overview

Income Statement

Income Statement Summit State Bank’s revenue has stayed in a relatively narrow range over the past few years, but profit margins have clearly tightened. After several years of solid profitability, the latest year shows earnings essentially falling to break-even or a small loss, with a sharp swing from prior positive earnings per share. That suggests pressure on lending spreads, funding costs, or credit costs. The long-term picture still reflects a history of decent profitability, but the most recent year signals a weaker earnings environment and a more fragile income statement than before.

Balance Sheet

Balance Sheet The balance sheet has grown steadily, with total assets trending higher over the past five years and shareholders’ equity edging up as well. Debt levels have come down compared with earlier years, which points to a more conservatively funded position. Cash remains a modest but recurring component of the balance sheet, providing some flexibility but not a large liquidity cushion on its own. Overall, the bank appears reasonably well-capitalized for a community institution, but with profitability down, the buffer to absorb shocks is more dependent on asset quality and deposit stability than on strong ongoing earnings.

Cash Flow

Cash Flow Cash generation from the core business has generally been positive, though not large, and has typically been enough to cover the bank’s light capital spending needs. Free cash flow trends look steady but thin, consistent with a conservative, slow-growth community bank rather than an aggressively expanding one. With very low capital expenditure, most cash flow decisions likely revolve around lending growth, dividends, and balance sheet strength, rather than big investment projects. The key risk is that if weaker earnings persist, the margin for error in cash generation narrows further.

Competitive Edge

Competitive Edge Summit State Bank’s competitive edge is rooted in being a deeply local, relationship-driven community bank focused on Sonoma County. Its strength lies in high-touch service, local decision-making, and strong ties to small businesses and nonprofits, supported by well-regarded community programs and donations. This creates loyalty and a differentiated brand versus larger, more impersonal institutions. However, the bank’s small size and geographic concentration mean it is more exposed to the health of its local economy and faces constant competitive pressure from bigger regional and national banks as well as digital-first players.

Innovation and R&D

Innovation and R&D The bank is not a technology pioneer in the traditional sense, but it has steadily adopted modern digital tools: intuitive online banking, mobile banking with deposits, and support for popular digital wallets. Its “innovation” is more about improving customer convenience and streamlining small-business lending processes than developing proprietary platforms. In practice, this means customers get familiar digital features wrapped in a very personal service model. The opportunity is to keep enhancing these digital tools to match rising customer expectations; the risk is that, as a smaller bank, it could fall behind if the pace of industry-wide tech change accelerates sharply.

Summary

Summit State Bank looks like a classic community bank: locally focused, relationship-driven, and conservative in growth and investment. Historically, it has translated this model into steady if unspectacular profits, but the latest year shows a clear step down in earnings, which deserves attention. The balance sheet appears prudently managed, with growing assets, a solid equity base, and lower reliance on debt, though thinner profitability reduces its cushion against future shocks. Its main strengths are customer loyalty, community embeddedness, and tailored service for small businesses and nonprofits. The main watch points are whether earnings can recover, how well the loan book holds up, how stable the deposit base remains in a competitive rate environment, and whether the bank continues to invest enough in technology to keep its service model attractive over time.

NEWS

October 29, 2025 · 9:00 AM UTC

Summit State Bank Earns $818,000, or $0.12 Per Diluted Share, in Third Quarter 2025

Read more