Summit State Bank Reports Net Income of $1.4 Million for First Quarter 2024; Declares Quarterly Cash Dividend of $0.12 Per Common Share
Summit State Bank (SSBI)
US:NASDAQ Investor Relations:
summitstatebank.com/investors.php
Company Research
Source: GlobeNewswire
SANTA ROSA, Calif., April 30, 2024 (GLOBE NEWSWIRE) -- Summit State Bank (the “Bank”) (Nasdaq: SSBI) today reported net income for the first quarter ended March 31, 2024 of $1,395,000, or $0.21 per diluted share, compared to net income of $4,116,000, or $0.62 per diluted share for the first quarter ended March 31, 2023. The Board of Directors declared the Bank’s eighty second consecutive quarterly cash dividend for common shareholders of $0.12 per share on April 29, 2024. It will be paid on May 23, 2024, to shareholders of record on May 16, 2024. “First quarter earnings were impacted by current challenges facing the entire banking industry. We are implementing steps to reverse declines in net income and remain focused on continuing to improve financial performance,” said Brian Reed, President and CEO. “We continue to operate in a high interest rate environment where competition for deposits is growing and the cost of funding remains high. Additionally, quarterly loan growth has mo
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News
- Summit State Bank (NASDAQ:SSBI) Passed Our Checks, And It's About To Pay A US$0.12 Dividend [Yahoo! Finance]Yahoo! Finance
- Summit State Bank (NASDAQ:SSBI) Is Due To Pay A Dividend Of $0.12 [Yahoo! Finance]Yahoo! Finance
- Pleasing Signs As A Number Of Insiders Buy Summit State Bank Stock [Yahoo! Finance]Yahoo! Finance
- Summit State Bank welcomes Dr. Frank Chong and James Finley to its Board of Directors [Yahoo! Finance]Yahoo! Finance
- Summit State Bank welcomes Dr. Frank Chong and James Finley to its Board of DirectorsGlobeNewswire