Summit State Bank · NASDAQ:SSBI
Summit State Bank — Q4 2022 Earnings Presentation
15 slides from Summit State Bank's earnings presentation, Feb 28, 2023
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 28, 2023 Summit State Bank (Exact Name of Registrant as Specified in Charter) Californi
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 February 28, 2023 using the slide presentation included as Exhibit 99.1 of this report. The information in this report (inc
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: February 28, 2023 SUMMIT STATE BANK By: /s/__Camille Kazarian____ Camille Kazarian Executive Vice
Slide 5: Exhibit Index
Exhibit Index Exhibit Description Number 99.1 Presentation slides as of February 28, 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
A SUMMIT Summit State Bank-naspaa: 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 AN SUMMIT : Market Area Highlights aeroelagrene Northern California Concentr
Slide 8: Leadership Team and Financial Trends
Our Leadership Team hief Lendi ars Inthe 148 Years of Collective Experience Financial Trends 12,000 1.80% = Strong Net Interest Income 0m ai Growth 11,000 3.40% 22,000 1.20% = Consistent Non-interest Income ais _ Growth since 2017 due to: = SBA Loan Sales, and = SBA Servicing Income 6,000 0.60% 4,00
Slide 9: Loan Growth & Asset Quality; Interest Income Management
Loan Growth & Asset Quality 35.00% 0.80% Loan Growth (YoY) without PPP Loans at 13.3% 30.00% aoe 0.60% Strong Reserves (Allowance for . Loans & Lease Losses - ALLL) Hae * ALLL is 159% without PPP ‘a Loans, which Carry a Zero-Risk 15.00% Weighting and excluding unsold guaranteed portion of 20.00% 7 S
Slide 10: Efficiency Ratio and Asset Trends
2017¥E AS SUMMIT Building the Infrastructure to Deliver Results Efficiency Ratio 2019VE 20207 2o1ave 2021VE 2022vE 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 Co
Slide 11: Loan Composition and SBA Loan Program
SY // oan Composition Total Loan Portfolio u-Famity = Diversified Portfolio with Manageable Risk = Total Portfolio LTV 47% (ex C&l); CRE LTV 49.5% = CRE LTV 49.5% for Property Types with Higher Risk AS SUMMIT a = Pandemic Risks: Wineries, Hotels, Restaurants, and Retail at ~29% of CRE Portfolio = Po
Slide 12: Liabilities Trends
Liabilities Trends Local Deposits and Brokered & FHLB Advances ($000's) $1,200,000 $1,000,000 $800,000 $000,000 $400,000 $200,000 so 201 2oisre 201s¥e am2ove 2onive aoa2ve brokered & FHLB Advances miLocal Maturity Deposits = Local Non-Maturity Depesits AN SUMMIT B 4Q2022 Average Cost of Funds at 0.7
Slide 13: Historical Dividend Payout
Historical Dividend Payout = Consistent Quarterly Dividends 0.3 50% " Dividend Yield ~3.09% at 2022Q4 = Stock Price Traded at 6.13 Times Trailing 12 Month Earnings as of 2022Q4 ou 00 SELES SSEISIESS ELSI ESS SS. PLL AL LLL ALLL je Dividend Per share (5) mmbividend Vila AN SUMMIT 6 Consistently Deliv
Slide 14: Why Summit State Bank?
Why Summit State Bank? Awards and Accolades | Fe > | A. UZ Best Places to Work f North Bay Business Journal Best Business Bank North Bay biz magazine Top Community Bank Loan Producer ICBA » J Raymond James Bankers Cup RaymondJames ‘ y Super Premier Performance ) Findley Reports Bank & Thrift Sm - Al
Slide 15: Get in Touch
Get in Touch STATE BANK Member FDIC 15