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Stock impact report

Summit State Bank Reports Net Income for First Quarter 2019 and Declaration of Dividend

Summit State Bank (SSBI) 
US:NASDAQ Investor Relations: summitstatebank.com/investors.php
Company Research Source: GlobeNewswire
SANTA ROSA, Calif., April 30, 2019 (GLOBE NEWSWIRE) -- Summit State Bank (Nasdaq: SSBI) today reported net income for the quarter ended March 31, 2019 of $1,425,000 and diluted earnings per share of $0.23.  A quarterly dividend of $0.12 per share was declared for common shareholders. Dividend The Board of Directors declared a $0.12 per share quarterly dividend on April 29, 2019 to be paid on May 24, 2019 to shareholders of record on May 17, 2019. Net Income and Results of Operations For the quarter ended March 31, 2019, Summit State Bank (“Bank”) had net income of $1,425,000 and diluted earnings per share of $0.23 compared to $1,740,000 in net income and $0.29 diluted earnings per share for the same quarter in 2018. Net income decreased $315,000 or 18% the first quarter of 2019 compared to first quarter of 2018. Net interest income increased to $5,547,000 in the first quarter of 2019 compared to $5,314,000 in the first quarter of 2018. “When comparing our net income to first q Show less Read more
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