Summit State Bank Q1 earnings $1.3 million

Summit State Bank reported 2016 first-quarter earnings of $1.3 million.

“We continue to generate strong performance as a result of the high quality of our community banking team and their deep care of our local Sonoma County community,” said James Brush, the bank’s CEO and president since April 19.

Shareholders of record on May 18 will be paid a dividend of $0.12 a share on May 24.

Annualized return on average assets for the first quarter of 2016 was 1.0 percent, and annualized return on average equity was 9.2 percent. Deposits rose 11 percent from March 31 of 2015 to the same date in 2016.

The Santa Rosa-based bank, which serves Sonoma, Marin, Napa and San Francisco counties, had total assets of $522 million on March 31.