Summit State Bank · NASDAQ:SSBI

Summit State Bank — Q4 2020 Earnings Presentation

15 slides from Summit State Bank's earnings presentation, Jan 29, 2021

  1. Slide 1: Form 8-K Current Report - Summit State Bank

    FEDERAL DEPOSIT INSURANCE CORPORATION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 12 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): February 2, 2021 Summit State Bank (Exact Name of Registrant as Specified in Charter) California

  2. 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 presentations to institutional investors at various meetings from February 2, 2021 through March 31, 2021 using the slide presentation included as Exhibit 99.1 of this report. The information

  3. 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

  4. 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: January 29, 2021 SUMMIT STATE BANK By: /s/__Camille Kazarian____ Camille Kazarian Executive Vice P

  5. Slide 5: Exhibit Index

    Exhibit Index Exhibit Description Number 99.1 Presentation slides as of January 29, 2021 5

  6. Slide 6: 99.1 Presentation slides as of January 29, 2021

    99.1 Presentation slides as of January 29, 2021 6

  7. Slide 7: Summit State Bank overview and Our Leadership Team

    Summit State Bank - SSBI Headquartered in Santa Rosa, CA Branch Locations  Santa Rosa Main  Healdsburg  Santa Rosa Montgomery Village  Rohnert Park  Petaluma Lending Area - Northern California Concentrated in Sonoma County with Regional Small Business Lending Group Headquartered in Roseville 

  8. Slide 8: Investment Highlights

    Investment Highlights Actively Managing through COVID-19 % Commitment to the Safety and Wellbeing of Bank Employees “ A Community Leader as a Paycheck Protection Program (PPP) Lender “ Maintaining Strong Underwriting Guidelines *» Actively Managing and Monitoring Potential Changes in Asset Quality

  9. Slide 9: Deferred Loans through CARES Act and PPP Lending Impact

    Deferred Loans through CARES ACT “ 12 Loans across 10 Borrowers are Currently in Deferral at ~$29MM * 99% of Deferred Loan Exposure is Backed by Real Estate “ Deferred Loans are Concentrated in the Following Industries: * Retail & Real Estate - 30%, * Restaurants - 29%, and * Wineries - 26% Average

  10. Slide 10: Financial Trends; Loan Growth & Asset Quality

    Financial Trends  Strong Net Interest Income Growth  Consistent Non -interest Income Growth since 2017 due to:  SBA Loan Sales, and  SBA Servicing Income  Increasing Return on Average Assets 9 of 19 Loan Growth & Asset Quality  Continued Peer Group Leader in Year -Over -Year Loan Growth  Loan

  11. Slide 11: Interest Income & Expense Management; Building the Infrastructure

    Interest Income & Interest Expense Management  Strong Net Interest Margin Compared to CA Peer Group  Most recent 8 quarters show continued improvement in:  Net Interest Income Growth  Increased Profitability  14.5% of Loans are Variable, of which:  9% on Floors  5.5% are SBA  ~$120MM Local &

  12. Slide 12: Historical Dividend Payout; Assets Trends

    Historical Dividend Payout  Consistent Quarterly Dividends  Dividend Yield <3.0% at 2020Q4 as Stock Price Increases  Stock Price Traded at 7.8 Times Trailing 12 Month Earnings as of 2020Q4  1.35 Times Price to Tangible Book Value as of 2020Q4  Historical Dividend Payout Ratio >30% 13 of 19 Asse

  13. Slide 13: Loan Composition; SBA Loan Program

    Loan Composition CRE Loan Portfolio Total Loan Portfolio Concentration  Diversified Portfolio with Manageable Risk through Pandemic  Total Portfolio LTV 48% (ex C&I); CRE LTV 51%  CRE LTV 49% for Property Types with Higher Risk due to Pandemic  Wineries, Hotels, Restaurants, and Retail at ~31% o

  14. Slide 14: Liabilities Trends; Deposit Composition

    Liabilities Trends  Focus on Local Deposit Growth  Commercial & Consumer Deposit Products Offered  Managed & Disciplined Use of Brokered Deposits & FHLB Advances  2020Q4 Average Cost of Funds at 0.68%  ~$120MM Local & Brokered CD’s to Mature in 2021 with WAIR of ~1.29% 17 of 19 Deposit Composit

  15. Slide 15: Get in Touch

    Get in Touch MAILING ADDRESS 500 Bicentennial Way Santa Rosa, CA 95403 CONTACT Barbara Gradman VP, Corporate Secretary bgradman@summitstatebank.com (707) 568 6000 15

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