Summit State Bank · NASDAQ:SSBI
Summit State Bank — Q3 2025 Earnings Presentation
35 slides from Summit State Bank's earnings presentation, 2025
Slide 1: Investor Presentation Q3 2025
Investor Presentation Q3 2025
Slide 2: About
About Brian J. Reed, President & CEO Brian has over 40 years of community banking experience, with over 30 in Sonoma County. 2020 - Selected as President and CEO of Summit State Bank 2016 - Joined Summit State Bank as Chief Credit Officer 2006 – Served as EVP Chief Credit Officer of First Community
Slide 3: Core Values
Core Values Mission Statement Summit State Bank provides 1. Greet customers, colleagues and community with courtesy and enthusiasm customized credit and deposit 2. Treat everyone you encounter with respect – they are important services by partnering with 3. Offer your service and solutions, look for
Slide 4: Guiding Principles
Guiding Principles “ To be a successful community bank, we must be significant in the lives of those we touch - our employees, customers and community. Significance is the legacy that is left behind long after a leader leaves an organization. Their influences on values, attitudes and culture will en
Slide 5: Company Overview
Company Overview • Commercial Bank, headquartered in Santa Rosa, CA • $1 billion in assets • 4 branch locations • 105 employees • Founded in 1982 • Listed on NASDAQ in 2006 under the ticker “SSBI” Summit State Bank Locations • Santa Rosa Main, Headquarters • Healdsburg • Rohnert Park • Petaluma Regi
Slide 6: Executive Leadership
Executive Leadership Genie Del Secco, Camille Kazarian, Michael Floyd, Brandy Seppi EVP and EVP and EVP and EVP and Chief Operating Officer Chief Financial Officer Chief Credit Officer Chief Banking Officer Genie has 35 years of community Camille has 26 years of industry Michael has over 40 years of
Slide 7: 40 years and $1 Billion in Assets
40 years and $1 Billion in Assets 2022 $1B Assets and 40th Anniversary 2020 2017 $135MM PPP Loans 2016 Brand Refresh 500MM in Assets 2006 Reached Listed on NASDAQ 2009 Healdsburg Branch 2007 1982 2003 Petaluma Branch Opens Bicentennial Branch Opens Bank Opened 1990 Opens 1985 Windsor Branch Montgome
Slide 8: Competitive Advantages and Challenges
Competitive Advantages and Challenges What Makes Summit State Bank Unique? What sets us apart from our competitors is our ability to deliver personalized solutions and service with excellent customer service along with providing access to local decision-makers. We strive to develop long-term relatio
Slide 9: Making a Difference
Making a Difference Nonprofit Partner Program Results Since 2009, Summit has contributed more than $6.5 million to Sonoma County nonprofits through the Nonprofit Partner Program and donations.
Slide 10: Nonprofit Partner Program and North Bay Nonprofit Event
• Enhanced the Nonprofit Partner Program with the launch of our North Bay Nonprofit Event (NBNE). • This half-day gathering attracted nearly 100 nonprofit leaders in 2025, and features local experts who share valuable insights, resources, and best practices. • Designed to deepen relationships with e
Slide 11: Awards & Accolades
Awards & Accolades Best Places to Work - Hall of Fame NorthBay Biz Magazine Corporate Philanthropy Award San Francisco Business Times Best Places to Work North Bay Business Journal Diversity in Business North Bay Business Journal Top Performing Bank American Banker Raymond James Award
Slide 12: Market Area Highlights
Northern California Concentrated in Sonoma County Market Area Highlights Commercial Property Investment Inventory Remains Low due to limited construction over the past ten years. Diverse and Resilient Economy: Healthcare, Manufacturing, Construction and Wholesale Trade Comprise > 40% of the Co
Slide 13: Financial Trends
2020 - 2022: Financial Trends Strong growth from continued low and stable rate environment resulting in robust loan production and healthy NIM, and strong non- interest income. 2023: Fed raised rates 5.00% between Mar 2022 - July 2023. Rapid and sustained rate increases compressed NIM and slow
Slide 14: Drivers of Performance
Drivers of Performance Credit Quality Net Interest Margin and Net Interest Income Non-Interest Income Expense Management
Slide 15: Loan Growth & Asset Quality
Loan Growth & Asset Quality 2024 and YTD 2025 Loan production slowed due to focusing on quality and appropriate rate in an uncertain economic environment Reduction of loans reflects the Banks increased focus on reducing balance sheet risk while improving capital ratios Strong Reserves at 1.65%
Slide 16: Non-Performing Loans and Loan Loss Reserve
Non-Performing Loans and Loan Loss Reserve Non-Performing Loans: 3 relationships make up 96% of non- performing loans as of Q3 2025 Strong Reserves continue to be maintained at 1.65% despite Non- Performing loan balances reducing since YE2023 Note: CECL Conversion as of January 1, 2021
Slide 17: Portfolio Delinquency Trends
Portfolio Delinquency Trends Delinquency Trends: Delinquency metrics of the performing portfolio have been declining in recent periods *excludes Non-Accrual loans
Slide 18: Interest Income & Interest Expense Management
Interest Income & Interest Expense Management From the end of 2022 through mid-2024, NIM compression and Net Interest Income declined due to elevated cost of funds, lower volume of new higher priced loans and existing loans that have repriced slower than deposits Starting in Q3 2024, NIM and Net
Slide 19: Yield on Earning Assets vs Cost of Liabilities
Yield on Earning Assets vs Cost of Liabilities From end of 2022 though the mid-2024, Cost of Liabilities has risen faster than the Yield on Earning Assets Since mid-2024 Cost of Liabilities declined while loan yields have improved
Slide 20: Deposits & Loans Repricing by Maturity
Deposits & Loans Repricing by Maturity Majority of Interest-bearing Deposits may reprice within 1 year Only 26% of the Loan Portfolio contractually reprices within 1 year Reprices Immediately Reprices quarterly Reprices in 1 month to 1 year Reprices 1 year to 8 years Fixed Rate
Slide 21: Treasury Indexed CRE – Contracted Rate Resets
Treasury Indexed CRE – Contracted Rate Resets Most Treasury Indexed CRE Loans reprice every 5 years based on the corresponding Constant Maturity Treasury index Repriced rates reflect a snapshot of market rates as of 9/30/2025; Actual repricing rates can differ depending on market rates at the ti
Slide 22: Government Guaranteed Loan Programs
Government Guaranteed Loan Programs Dedicated Small Business Lending Group Created in 2017 Floating Rate ~ 9.1% (October 2025 adjustment) Decrease in Non-Interest Income based on rolling 4-quarter analysis: Lower SBA Loan Sales Volume Decreasing Servicing income due to amortization and pre
Slide 23: Managing Infrastructure Costs in an Inflationary Environment
Managing Infrastructure Costs in an Inflationary Environment Operating expenses in Q3 2024 were higher at $6.2MM vs $5.5MM is Q3 2025, despite continuing inflationary pressures Cost cutting efforts employed in Q4 2024 are impacting the reduction in the operational expenses in 2025 Assets have
Slide 24: Assets Trends
Assets Trends Manage Asset reductions to balance sheet risk and improve Capital Ratios Portfolio Loan Yield as of 2025Q3 at 6.05% $403MM of Treasury based loans are scheduled to reprice through 2027 at a differential of ~2% New loan originations are targeted to reduce overall CRE concentrati
Slide 25: Loan Portfolio Composition
Loan Portfolio Composition Portfolio Product Types, % Commercial Real Estate - Invest ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● 50.2% Commercial Real Estate - Owner Occupied ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● 25.4% Total Farm ▬▬▬▬▬▬▬● 7.5% Loan Commercial C&I ▬▬▬▬▬▬● 6.5% Diversified Portfolio wit
Slide 26: Loan Composition
Loan Composition Total Loan Portfolio CRE Loan Portfolio Concentration: Investment & Owner Occupied
Slide 27: Liabilities Trends
Liabilities Trends Deposit growth from 2020 to 3Q2025: Local Non-Maturity Deposits increased from 64% to 72% of Total Deposits Total Local Deposits increased from 80% to 100% of Total Deposits Continued Focus on Local Non-Maturity core deposit growth
Slide 28: Deposit Composition
Deposit Composition Organic Deposit Growth through Strong Relationship Practices Focused Local Core Deposit Growth Q3 2025 Average Cost of Deposits at 2.40%
Slide 29: Focus on Liquidity and Quality as of Q3 2025
Focus on Liquidity and Quality as of Q3 2025 $125MM of Available Primary Liquidity Includes Cash and Investments Available for Sale Primary Liquidity is 12.4% $321MM of Available Secondary Lines Includes FHLB, Federal Reserve Bank, and Fed Funds lines Total Liquidity (Primary + Secondary
Slide 30: Tangible Book Value Growth
Tangible Book Value Growth Tangible Book Value has improved 39% since 2020, or 8.1% annualized growth Tangible Book Value growth has solely been driven by retention of earnings As of September 30, 2025, the Bank’s stock price was trading at 0.8x of Book Value ($11.79/share) Note: [1]Tangible B
Slide 31: Shareholder Value
Shareholder Value Graph illustrates investment in 1 share of stock beginning in 2016 2016: One share of stock purchased 2017: A five-for-four stock split results in 1.25 shares outstanding 2021: A one time 10% stock dividend results in 1.38 shares outstanding Stock Value increased 19% since
Slide 32: Why Summit State Bank?
Why Summit State Bank? Experienced Executive & Management Team Commitment to a Culture of Success Focus on Organic Growth and Driving Core Customer Deposits Lending Platform Positioned to Deliver Results Significant Growth in Tangible Book Value of shares in last 5 years Experienced and
Slide 33: Forward-Looking Statements
Forward-Looking Statements This presentation includes forward-looking statements within the meaning of the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995, including forward-looking statements regarding our expectations and beliefs about our future financial performa
Slide 34: Non-GAAP Financial Measures
Non-GAAP Financial Measures This presentation contains non-GAAP (Generally Accepted Accounting Principles) financial measures in addition to the results presented in accordance with GAAP. These Non-GAAP financial measures include pre-tax, pre-provision net operating income before goodwill, pre-tax,
Slide 35: Non-GAAP Financial Measures
Non-GAAP Financial Measures Nine Months Ended Twelve Months Ended September 30, 2025 December 31, 2024 December 31, 2023 December 31, 2022 December 31, 2021 December 31, 2020 (In thousands) Reconciliation of non-GAAP tangible common equity Total shareholders' equity $ 99,728 $ 91,723 $ 97,678 $ 88,5