Summit Bank Group (OTCID: SBKO)

• Q3 2025 Net Income - $3.94 million or $0.50 per fully diluted share, an increase of 23.3 percent over Q3 2024.
• 2025 Year to Date Net Income - $10.2 million or $1.30 per fully diluted share, an increase of 22.1 percent over similar period in 2024.
• Cash and Securities total $169.5 million – 13.1 percent of assets and increased 28.9 percent over the previous quarter.
• Year over year Net Loan Growth - $73.0 million or 7.2 percent.
• Q3 2025 Net Interest Income increased $1.62MM or 12.5 percent over Q3 2024

Summit Bank Group reported net income for the third quarter of $3.94 million or 50 cents per fully diluted share, which was the highest ever single quarter earnings per share for the Company. Comparable earnings for the third quarter of 2024 were $3.17 million or 41 cents per fully diluted share, representing an increase of 23.3 percent to earnings per fully diluted share. An increase in net interest income of $1.62 million or 12.5 percent concurrent with an increase in non-interest expense of only $682 thousand were the primary drivers of the growth in earnings.

“Solid loan growth from new and current clients together with significant improvement in deposit mix and growth in client demand deposit accounts resulted in a record quarter,” said Craig Wanichek, President and CEO. “Our continued growth in net income is a direct reflection of the trust our clients place in us and the dedication of our team.”

The Bank continues to achieve profitable growth in its loan and deposit portfolios with $73.0 million in net new loans added over the last twelve months. Total deposit growth during the same period was lower by comparison at $3.8 million, however deposit mix has been substantially improved with a reduction in certificates of deposit of $86.0 million, while demand and money market deposit totals increased by $89.8 million or 8.8 percent. The Bank continues to maintain a strong liquidity position with cash and Available for Sale (AFS) short-term securities totaling $169.5 million, which represented 13.1 percent of total assets as of September 30^th, 2025, compared to $131.6 million or 10.5 percent of total assets as of June 30^th, 2025. The Bank maintains secured borrowing commitments from the Federal Home Loan Bank and the Federal Reserve Bank with total available borrowing capacity as of September 30^th, 2025, of $339 million, or 26.3 percent of total assets. Combined, the Bank’s cash and available secured borrowing as of September 30^th, 2025, totaled $466 million. This total decreased from $494 million one year ago but is still equal to 36.1 percent of total assets and 122 percent of total estimated uninsured deposits as of September 30^th, 2025.

“We experienced loan growth and grew core deposits in all three of our geographic markets,” said Wanichek. “The strong liquidity and capital positions will further help us fulfill loan demand.” Return on average equity for the third quarter was a three-year best at 13.3 percent with the trailing four-quarter figure increasing for a sixth consecutive quarter to 11.7 percent. Return on average assets for the quarter was 1.23 percent. Total shareholders’ equity ended the third quarter at $120.0 million, an increase of $14.5 million or 13.7 percent since September 30^th, 2024. As the Company continues its 22^nd year of operations, capital levels remain very strong, supporting consistent asset growth with similarly strong retained earnings which have totaled $58.3 million over the last five years.

Total non-performing assets, after reaching a low of 0.04% of Total assets as of June 30^th, 2025, have increased to 0.37% as of September 30^th, driven by three relationships, or .34%, placed on non-accrual status during the quarter. While these three relationships total just over $4.4 million, there is only $1.7 million of exposure after SBA guarantees are considered. All the loans on non-accrual have been appropriately reserved, and no future material write-downs are expected,” said Wanichek.

Summit Bank Group Inc., through its wholly owned subsidiary of Summit Bank, maintains offices in Eugene, Central Oregon, and Portland, specializing in providing high-level service to professionals and medium-sized businesses and their owners. The Bank was voted for the fourth year in a row as one of Oregon’s “Top 100 Companies to Work For,” according to Oregon Business Magazine. In 2023, 2024 and 2025, Summit Bank was honored as “Favorite Bank” in the Eugene Register-Guard’s annual Reader’s Choice Awards and “Best Bank” by Central Oregon’s Bend Bulletin. Summit Bank Group Inc. is quoted on the OTCID under the symbol SBKO.

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