Summit State Bank · NASDAQ:SSBI
Summit State Bank — Q4 2022 Earnings Presentation
15 slides from Summit State Bank's earnings presentation, Mar 8, 2023
Slide 1: Form 8-K/A Current Report
FEDERAL DEPOSIT INSURANCE CORPORATION WASHINGTON, DC 20549 FORM 8-KA CURRENT REPORT Pursuant to Section 12 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): March 8, 2023 Summit State Bank (Exact Name of Registrant as Specified in Charter) California 3
Slide 2: Item 7.01 Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure The Chief Executive Officer of Summit State Bank (the “Bank”) will make a presentation to institutional investors available online beginning March 7, 2023 using the slide presentation included as Exhibit 99.1 of this report. The information in this report (includi
Slide 3: Item 9.01 Financial Statements and Exhibits
recent Annual Report on Form 10-K filed with the Federal Deposit Insurance Corporation (“FDIC”) and those in any other public filing we may make with the FDIC. Item 9.01. Financial Statements and Exhibits (d) Exhibits: The exhibit list called for by this item is incorporated by reference to the Exhi
Slide 4: Signature
SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. Dated: March 8, 2023 SUMMIT STATE BANK By: /s/__Camille Kazarian____ Camille Kazarian Executive Vice Pres
Slide 5: Exhibit Index
Exhibit Index Exhibit Description Number 99.1 Presentation slides as of March 8, 2023 5
Slide 6: 99.1 Presentation slides as of February 28, 2023
99.1 Presentation slides as of February 28, 2023 6
Slide 7: Summit State Bank Overview and Market Area Highlights
AS SUMA\IT Headquartered in Santa Rosa, CA Branch Locations = Santa Rosa Main Healdsburg Santa Rosa Montgomery Village Rohnert Park Petaluma Regional Small Business Lending Group = Roseville, CA A\SUMM\IT : Market Area Highlights Unemployment Northern California Concentrated in Sonoma a6 County » =
Slide 8: Leadership Team and Financial Trends
Our Leadership Team 148 Years of Collective Experience Financial Trends 18,000 1.80% = Strong Net Interest Income 16,000 1.60% Growth 34,000 140% 12,000 1.20% = Consistent Non-interest Income Growth since 2017 due to: = SBA Loan Sales, and = SBA Servicing Income 6,000 0.60% 4,000 0.40% = Increasing
Slide 9: Loan Growth & Asset Quality
Loan Growth & Asset Quality 35.00% 0.80% Loan Growth (YoY) without PPP Loans at 13.3% 30.00% as.00% 0.60% Strong Reserves (Allowance for ” Loans & Lease Losses - ALLL) anon * ALLLis 159% without PPP osok Loans, which Carry a Zero-Risk 15.00% Weighting and excluding unsold guaranteed portion of 10.00
Slide 10: Building the Infrastructure to Deliver Results
2017¥E Building the Infrastructure to Deliver Results Efficiency Ratio 2018VE 2019VE 20207E 2021VE 2022¥E In 2017 the Bank Designed a 5- year Growth Plan to Deliver Strategic Results Strong Performance in Efficiency with Consistent Gains through: = Income Growth, and = Expense Management Continually
Slide 11: Loan Composition
Loan Composition Total Loan Portfolio Matt Faniy commercial c&l ae Realfstate SAR 6% Realestate. 7% construction & land 1% " Diversified Portfolio with Manageable Risk = Total Portfolio LTV 47% (ex C&l); CRE LTV 49.5% = CRE LTV 48.6% for Property Types with Higher Risk * Pandemic Risks: Wineries, Ho
Slide 12: Liabilities Trends
Liabilities Trends Local Deposits and Brokered & FHLB Advances ($000's) $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $0 2017YE 2018vE 2019YE 2020VE 2021YE 2022¥E Brokered & FHLB Advances Local Maturity Deposits Local Non-Maturity Deposits = 4Q2022 Average Cost of Funds at 0.71% = Deposi
Slide 13: Historical Dividend Payout
Historical Dividend Payout = Consistent Quarterly Dividends 03 5.0% " Dividend Yield ~3.09% at 2022Q4 ‘on = Stock Price Traded at 6.13 Times Trailing 12 Month Earnings as of 2022Q4 oun 00 SSCLISEEIEIEL SSIES SPSS SS SSE ie j= Dividend Per share (5) embividend Vita AN SUMMIT 6 Consistently Delivers S
Slide 14: Why Summit State Bank?
Why Summit State Bank? Awards and Accolades Ge SAA) Best Places to Work ~ \ North Bay Business Journal Best Business Bank North Bay biz magazine Top Community Bank Loan Producer ICBA » J Raymond James Bankers Cup \ RaymondJames ‘ gy Super Premier Performance ) Findley Reports Bank & Thrift Sm - All
Slide 15: Get in Touch
Get in Touch STATE BANK Member FDIC 15