Summit Bank Reports 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 (OTC Pink: SBKO) reported net income for the first quarter of $1.15 million or 28 cents per fully diluted share. Comparable earnings for the first quarter of 2017 were $762,000 or 20 cents per fully diluted share, representing an increase of 51 percent to earnings and 37 percent to earnings per fully diluted share. Fully diluted earnings per share for the trailing four quarters totaled $0.89. Total net loans as of March 31, 2018 were $297.3 million, an increase of $20.1 million for the quarter and an increase of $63.7 million or 27.3 percent over March 31, 2017. The Bank has achieved year-over-year net loan growth in excess of 15 percent during 20 of the previous 21 quarters. Deposit growth continues to be robust as well. Total deposits as of March 31, 2018 were $328.8 million, an increase of $30.2 million or 10.1 percent and $68.9 million or 26.5 percent over Decem
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