Summit State Bank · NASDAQ:SSBI

Summit State Bank — Q2 2023 Earnings Presentation

16 slides from Summit State Bank's earnings presentation, Aug 23, 2023

  1. Slide 1: Form 8-K Current Report - Summit State Bank

    FEDERAL DEPOSIT INSURANCE CORPORATION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 12 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): August 23, 2023 Summit State Bank (Exact Name of Registrant as Specified in Charter) California

  2. Slide 2: Item 7.01 Regulation FD Disclosure

    Item 7.01. Regulation FD Disclosure The Chief Executive Officer of Summit State Bank (the “Bank”) will make a presentation to institutional investors available online beginning August 23, 2023 using the slide presentation included as Exhibit 99.1 of this report. The information in this report (inclu

  3. Slide 3: Forward-looking statements continued; Item 9.01 Exhibits

    recent Annual Report on Form 10-K filed with the Federal Deposit Insurance Corporation (“FDIC”) and those in any other public filing we may make with the FDIC. Item 9.01. Financial Statements and Exhibits (d) Exhibits: The exhibit list called for by this item is incorporated by reference to the Exhi

  4. Slide 4: Signature

    SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. Dated: August 23, 2023 SUMMIT STATE BANK By: /s/__Camille Kazarian____ Camille Kazarian Executive Vice Pr

  5. Slide 5: Exhibit Index

    Exhibit Index Exhibit Description Number 99.1 Presentation slides as of August 23, 2023 5

  6. Slide 6: Investor Presentation Q2 2023 - Company Overview

    99.1 Presentation slides as of August 23, 2023 Investor Presentation Q2 2023 1 Company Overview  Summit State Bank is a commercial bank headquartered in Santa Rosa, CA with $1.2 billion in assets, 5 branch locations and more than 118 employees  Bank formed in 1982  Listed on NASDAQ in 2006 under

  7. Slide 7: Summit State Bank Locations and Market Area Highlights

    Summit State Bank Locations Headquartered in Santa Rosa, CA Branch Locations  Santa Rosa Main  Healdsburg  Santa Rosa Montgomery Village  Rohnert Park  Petaluma Regional Small Business Lending Group  HQ in Roseville, CA 3 Market Area Highlights Northern California Concentrated in Sonoma County

  8. Slide 8: Our Leadership Team and Financial Trends

    Our Leadership Team Brian Reed Genie Del Secco Brandy Seppi Camille Kazarian Michael Castlio President & CEO EVP & Chief Operating Officer EVP & Chief Lending Officer EVP & Chief Financial Officer SVP & Chief Credit Officer 38 Years in the Industry 32 Years in the Industry 28 Years in the Industry 2

  9. Slide 9: Loan Growth & Asset Quality; Interest Income & Expense Management

    Loan Growth & Asset Quality  Loan Growth has declined from prior periods due to higher rates  Strong Reserves (Allowance for Loans & Lease Losses – ACL)  ACL is 1.63% without PPP Loans, which Carry a Zero -Risk Weighting and excluding unsold guaranteed portion of SBA loans  Elevated Non -Perform

  10. Slide 10: Building the Infrastructure to Deliver Results; Assets Trends

    Building the Infrastructure to Deliver Results  Efficiency Ratio increased due to lower Net Operating Income as discussed on previous slide  Historical Improvements in Efficiency Ratio driven by Net Operating Income increases  Continually Reviewing Technology for Enhancements 9 Assets Trends  Fo

  11. Slide 11: Loan Composition and SBA Loan Program

    Loan Composition CRE Loan Portfolio Concentration: Total Loan Portfolio Investment & Owner Occupied  Diversified Portfolio with Manageable Risk  Total Portfolio LTV 47% (ex C&I); CRE LTV 46.2%  CRE LTV 49% for Property Types with Higher Risk  Pandemic Risks: Wineries, Hotels, Restaurants, and Re

  12. Slide 12: Liabilities Trends and Deposit Composition

    Liabilities Trends  Continued Focus on Local Deposit Growth and Increasing Market Share  2Q2023 Average Cost of Funds at 2.01%  Deposit growth from 2018 to 2Q2023:  Local Non -Maturity Deposits went from 57% to 61% of Total Deposits  Total Local Deposits went from 89% to 96% of Total Deposits 1

  13. Slide 13: Focus on Liquidity and Quality; Strong Stock Value

    Focus on Liquidity and Quality as of Q2 2023  $189MM of Available Liquidity  Including Cash and Investments Available for Sale  Primary Liquidity is 16%  $351MM of Off -Balance Sheet Liquidity Sources  Including FHLB, Federal Reserve Bank, and Fed Funds lines  Secondary Liquidity is 30%  $230

  14. Slide 14: Strong Dividend Return; Stock Total Return vs Bank Indices

    Strong Dividend Return Graph illustrates investment in 1 share of stock beginning in 2016  Dividend on Initial Investment relates to the original purchase of 1 share  Additional Dividend Return of 37.5% is a result of:  5-for -4 stock split (2017)  one time 10% stock dividend (2021) 17 Stock Tot

  15. Slide 15: Why Summit State Bank? Awards and Accolades

    Why Summit State Bank?  Experienced Executive & Management Team  Commitment to a Culture of Success  Focused on Organic Growth  Strategic Lending Platform Positioned to Deliver Results  California Peer Group Leader in Key Performance Metrics  Strong Total Return to Shareholders Compared to Ind

  16. Slide 16: Private Securities Litigation Reform Act of 1995; Contact

    Private Securities Litigation Reform Act of 1995 Statements made during this presentation and in response to questions may constitute Forward Looking Statements within the meaning of the Private Securities Litigation Reform Act of 1995 and any such statements are subject to risks and uncertainties t

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