Summit State Bank · NASDAQ:SSBI
Summit State Bank — Investor Presentation (May 2021)
15 slides from Summit State Bank's investor presentation, May 24, 2021
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): May 24, 2021 Summit State Bank (Exact Name of Registrant as Specified in Charter) California 322
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 between May 24, 2021 through July 10, 2021 using the slide presentation included as Exhibit 99.1 of this report. The information in
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: May 24, 2021 SUMMIT STATE BANK By: /s/__Camille Kazarian____ Camille Kazarian Executive Vice Presi
Slide 5: Exhibit Index
Exhibit Index Exhibit Description Number 99.1 Presentation slides as of May 24, 2021 5
Slide 6: Private Securities Litigation Reform Act of 1995
99.1 Presentation slides as of May 24, 2021 Investor Presentation Q1 2021 Private Securities Litigation Reform Act of 1995 Statements made during this presentation and in response to questions may constitute Forward Looking Statements within the meaning of the Private Securities Litigation Reform Ac
Slide 7: Summit State Bank - SSBI and Lending Area Highlights
Summit State Bank - SSBI 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 3 of 20 Lending Area Highlights Northern California Concentrated in Sonoma County
Slide 8: Leadership Team and Investment Highlights
Our Leadership Team Brian Reed Genie Del Secco Brandy Seppi Camille Kazarian Michael Castlio President & CEO EVP & Chief Operating OfficerEVP & Chief Lending Officer EVP & Chief Financial Officer SVP & Chief Credit Officer 36 Years in the Industry 30 Years in the Industry 26 Years in the Industry 21 Years i
Slide 9: Actively Managing through COVID-19
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 Deferred Loans through CA
Slide 10: PPP Lending Impact and Financial Trends
PPP Lending Impact * Total Originated PPP Loans: “ 820 Loans at $131.IMM + Average PPP Loan Balance of -$160k “+ PPP Pretax Earnings for 2020 at $2.4MM and $1.1MM in 2021Q1 * As of March 31, 2021, $67.2MM in PPP Loans Forgiven + As of May 19, 2021, $89MM in PPP Loans Applied for Forgiveness with $73
Slide 11: Loan Growth & Asset Quality
Loan Growth & Asset Quality 35.00% 1.00% Continued Peer Group Leader in Year-Over-Year Loan Growth 30.00% aisene = Loan Growth (YoY) without PPP Loans at 14.9% 25.00% 20.00% 0.60% High Asset Quality - Zero Delinquencies Outside of 15.00% eathe NPA’s 10.00% Strong Reserves (Allowance for “ea 20% Loan
Slide 12: Building the Infrastructure to Deliver Results
150f20 70.0% 2016VE Building the Infrastructure to Deliver Results Efficiency Ratio 60.0% 55.0% 50.0% [| 45.0% a 2017VE 2018vE 2019VE 2020vE 202101 Planned Increase in Staffing in 2017 Designed to Deliver Strategic Results Strong Performance in Efficiency with Consistent Gains through: = Income Grow
Slide 13: Assets Trends and Loan Composition
Assets Trends Net Loans and Cash & Investments * Focused Growth on ($000's) Investment Grade New Loans with Targeted Yield at 4.75% 1,000,000 ae = Loan Vield as of 20211 at 5.29% 700,000 fos, c00 = Maintained Mix of Loan 00,000 Concentrations with Growth ‘400,000 in Small Business Lending 300,000 sa
Slide 14: SBA Loan Program and Liabilities Trends
SBA Loan Program 200 100 Dedicated Small Business Lending Group Created in 2017 Floating Rate Yields > 5% Increase in Non-interest Income through: = Consistent SBA Loan Sales = Growing SBA Servicing Income Currently ~$400M Annually YY 2 Sy 2 Sy 2 sy ss &. FSF om *. ee s * ra Pa lm Retained Balance (
Slide 15: Deposit Composition and Contact
Deposit Composition = Organic Deposit Growth through Strong Relationship Non-Interest Bearing Practices = Focused Local Deposit Crowth = Focused on Non-Interest Deposit Growth Ds <$250k, 18% = ~$90MM Peak PPP Deposits = ~$45MM Runoff = 2021Q1 Average Cost of $250k ; o ss in Deposits at 0.71% Brokere