Summit Bank Group Reports 2024 1st Quarter Earnings
SUMMIT BANK GROUP INC (SBKO)
NASDAQ:AMEX Investor Relations:
sbko.bank/investor-relations
Company Research
Source: Business Wire
EUGENE, Ore.--(BUSINESS WIRE)--Summit Bank Group (OTC Pink: SBKO)Q1 2024 Net Income - $2.4 million or $0.31 per fully diluted share.Q1 2024 Net Income increased from $0.30 per share for Q1 2023 and $0.22 per share for Q4 2023.Cash and Securities totaled $149.9 million – 13.0 percent of assets.Year over year Net Loan Growth - $208.0 million or 27.3 percent.Year over year Deposit Growth - $84.1 million or 9.0 percent over March 31st 2023.Summit Bank Group reported net income for the first quarter of $2.4 million or 31 cents per fully diluted share. Comparable earnings for the quarter ended December 31, 2023 were $1.68 million or 22 cents per fully diluted share, representing an increase of 41 percent or 9 cents to earnings and earnings per fully diluted share, respectively. First quarter provision for loan loss expense declined by $655 thousand from the previous quarter, which was the result of the continued decline in total balances in the Bank’s small commercial equipment finance
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