Download PDF

1. Company Snapshot

1.a. Company Description

Summit State Bank provides various banking products and services to individuals and businesses primarily in Sonoma County, California.It offers personal and business checking, money market, sweep, savings, and demand accounts; time certificates of deposit; and specialized deposit accounts, such as professional, small business packaged, tiered, individual retirement, and other retirement plan accounts.The company also provides loans, including commercial loans and leases; lines of credit; commercial real estate, small business administration, residential mortgage, and construction loans; home equity lines of credit; and lines of credit, term, and equipment loans, as well as loans to agriculture-related businesses.


In addition, the company provides Internet and telephone banking; and other services, such as banking by appointment, online banking, direct payroll and social security deposits, letters of credit, access to national automated teller machine networks, courier, safe deposit boxes, night depository facilities, notary, travelers checks, lockbox, and banking by mail.Further, it offers electronic banking, cash management, and electronic bill payment services.The company operates through five depository offices located in Santa Rosa, Rohnert Park, Healdsburg, and Petaluma, as well as loan production offices in Roseville, California, Irvine, and Scottsdale, Arizona.


Summit State Bank was incorporated in 1982 and is headquartered in Santa Rosa, California.

Show Full description

1.b. Last Insights on SSBI

Summit State Bank's recent performance was driven by proactive measures to address problem loans, resulting in significant charge-offs and provisions for credit losses in the fourth quarter of 2024. The bank's decision to write off goodwill due to its stock price trading below book value is a non-cash charge that does not impact cash flows or regulatory capital. Additionally, the bank's focus on expanding net interest margin in 2025 is a positive development. Furthermore, the adoption of a new CECL model as of December 31, 2024, led to a $146,000 increase in reserve for unfunded loans and a $76,000 credit loss provision reversal, indicating a more conservative approach to risk management.

1.c. Company Highlights

2. Transcript Summary

Unfortunately this company is not part of our coverage yet. But as part of your subscription plan you can request it by clicking just below and we'll process.

Request Coverage

3. NewsRoom

Card image cap

Head to Head Review: Bank of Hawaii (NYSE:BOH) versus Summit State Bank (NASDAQ:SSBI)

Dec -02

Source: defenseworld.net

Card image cap

Financial Contrast: Summit State Bank (NASDAQ:SSBI) & Five Star Bancorp (NASDAQ:FSBC)

Nov -30

Source: defenseworld.net

Card image cap

Summit State Bank (NASDAQ:SSBI) vs. RBB Bancorp (NASDAQ:RBB) Financial Analysis

Nov -25

Source: defenseworld.net

Card image cap

Summit State Bank Earns $818,000, or $0.12 Per Diluted Share, in Third Quarter 2025

Oct -29

Source: globenewswire.com

Card image cap

Summit State Bank Earns $2.4 Million, or $0.36 Per Diluted Share, in Second Quarter 2025

Jul -29

Source: globenewswire.com

Card image cap

Summit State Bank Earns $2.5 Million, or $0.37 Per Diluted Share, in First Quarter 2025

Apr -29

Source: globenewswire.com

Card image cap

Summit State Bank Reports Revised Fourth Quarter 2024 Financial Results

Mar -28

Source: globenewswire.com

Card image cap

Summit State Bank Reports Fourth Quarter 2024 Financial Results

Jan -28

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (5.50%)

6. Segments

Commercial Bank

Expected Growth: 5.5%

Growing demand for tailored financial solutions, increasing adoption of cash management services, and rising need for business loans and credit lines drive growth in Summit State Bank's Commercial Bank segment.

7. Detailed Products

Personal Checking

A checking account designed for individuals, offering convenient banking services and online access.

Business Checking

A checking account designed for businesses, providing cash management tools and online banking services.

Mortgage Loans

A range of mortgage loan options for purchasing or refinancing a home, with competitive rates and terms.

Home Equity Loans

A loan that allows homeowners to borrow against the equity in their home, with flexible repayment terms.

Credit Cards

A range of credit card options with competitive rates, rewards, and benefits.

Investment Services

A range of investment products and services, including brokerage, retirement, and wealth management.

Online Banking

A secure online platform for managing accounts, paying bills, and transferring funds.

Mobile Banking

A mobile app for banking on-the-go, with deposit, transfer, and payment capabilities.

8. Summit State Bank's Porter Forces

Forces Ranking

Threat Of Substitutes

Summit State Bank's customers have some alternatives, but they are limited. The bank's online banking and mobile banking services are convenient, but customers may still prefer to visit physical branches.

Bargaining Power Of Customers

Summit State Bank's customers have limited bargaining power due to the bank's strong brand and customer loyalty. Customers are likely to stay with the bank despite some dissatisfaction.

Bargaining Power Of Suppliers

Summit State Bank has a strong negotiating position with its suppliers, allowing it to secure favorable terms and prices.

Threat Of New Entrants

The banking industry has high barriers to entry, making it difficult for new entrants to compete with established players like Summit State Bank.

Intensity Of Rivalry

The banking industry is highly competitive, with many established players competing for market share. Summit State Bank must differentiate itself through its products and services to stay competitive.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 6.12%
Debt Cost 6.92%
Equity Weight 93.88%
Equity Cost 6.92%
WACC 6.92%
Leverage 6.52%

11. Quality Control: Summit State Bank passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Great Southern Bancorp

A-Score: 6.2/10

Value: 6.5

Growth: 4.4

Quality: 6.0

Yield: 6.0

Momentum: 6.5

Volatility: 7.7

1-Year Total Return ->

View Full Report
Stock-Card
Nicolet Bankshares

A-Score: 6.2/10

Value: 5.6

Growth: 6.3

Quality: 7.9

Yield: 1.0

Momentum: 9.0

Volatility: 7.3

1-Year Total Return ->

View Full Report
Stock-Card
Red River Bank

A-Score: 6.2/10

Value: 5.6

Growth: 5.9

Quality: 8.0

Yield: 1.0

Momentum: 8.5

Volatility: 8.0

1-Year Total Return ->

View Full Report
Stock-Card
Summit State Bank

A-Score: 5.4/10

Value: 7.0

Growth: 3.6

Quality: 4.0

Yield: 3.0

Momentum: 9.5

Volatility: 5.3

1-Year Total Return ->

View Full Report
Stock-Card
First Northwest Bancorp

A-Score: 5.2/10

Value: 9.4

Growth: 5.6

Quality: 4.0

Yield: 5.0

Momentum: 1.5

Volatility: 6.0

1-Year Total Return ->

View Full Report
Stock-Card
Old Point Financial

A-Score: 5.1/10

Value: 3.7

Growth: 5.4

Quality: 5.9

Yield: 3.0

Momentum: 5.0

Volatility: 7.3

1-Year Total Return ->

View Full Report

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

11.12$

Current Price

11.12$

Potential

-0.00%

Expected Cash-Flows