SANTA ROSA – Summit State Bank reported a net income of $2.08 million for 2009, a more than 100 percent increase from the $1 million earned the year before.

Total loans were reported at $288.2 million, compared to the $299.6 reported the year before.

Loan loss provision for the final quarter was $1.2 million, compared to the $220,000 for the same period last year.

Total deposits were $264.3 million compared to $252.8 million the year before.

“Our net interest margin continues to increase as we continue to attract additional core deposits. Core deposits increased 56 percent during 2009 as we continue our focused attention on building full banking relationships that include both the deposits of the business and owners, which is the key part of the strategy initiated in early 2008,” said Thomas Duryea, president and chief executive officer of the bank.

The bank’s net income for the fourth quarter was $355,000 down from $764,000 in the same quarter of 2008.

Total risk-based capital was reported at 19.3 percent, well above the 10.0 percent that is standard for a well capitalized institution.

The board of directors declared a cash dividend of $0.09 per share for shareholders on record as of the close of business Feb. 11, 2010.

Total assets were $340 million as of Dec. 31, 2009.

Stock is trading at $5.20. The 52-week rage is $4.12 to $7.50.