North Bay Business Journal

SANTA ROSA — Citing an increase in income-generating assets and new loans, Summit State Bank (NASDAQ: SSBI) reported a 64 percent increase in net income for the first three months of 2013 and declared a larger quarterly dividend.

While many businesses, homebuyers and individuals have benefited from the Federal Reserve’s continuing effort to keep interest rates low, that same economic policy — along with heightened pressure from regulators and tepid demand for new loans — has added up to a time of historic challenge for community lenders in the North Bay and beyond.

Executives at North Bay financial institutions said they saw no clear end for the current conditions.

SANTA ROSA — Summit State Bank (NASDAQ: SSBI) said it donated more than $101,000 to 100-plus North Bay nonprofits through its Nonprofit Partner Donation Program, more than double the amount donated in the prior year.

SANTA ROSA — Summit State Bank (NASDAQ: SSBI) today announced that net income for 2012 rose 55 percent versus 2011, with $3.45 million in earnings representing 62 cents per diluted share. The bank also announced that it would pay a quarterly shareholder dividend of 9 cents per share on Feb. 23 to shareholders of record as of Feb. 15.

SANTA ROSA — Revenue from a one-time legal settlement helped boost net income for Summit State Bank (NASDAQ: SSBI) for the quarter ended Sept. 30, with smaller gains seen in new loans and deposits.

Sonoma County businesses and lenders are co-dependent in the region’s economic recovery, with a first-ever countywide report showing that a financial sector that was hard-hit during the recession has been seeing opportunities for lending amid the renewed activity in other industries.

North Bay financial institutions are increasingly employing the latest generation of Web and mobile technologies, addressing a wave of consumer demand for conveniences that were once only within reach of large, national banks.

SANTA ROSA — Summit State Bank (NASDAQ: SSBI) today reported net income increased 30 percent in the first three months of 2012 than during the same period in 2011, and the bank’s board of directors approved a 9 cent dividend.

SANTA ROSA – The Washington D.C.-based bank industry group, the American Bankers Association, has awarded Santa Rosa-based Summit State Bank (NASDAQ: SSBI) with its national Community Bank Award for Fundraising for Foundations and Local Groups.

SANTA ROSA — Summit State Bank (NASDAQ: SSBI) announced today that it had donated more than $43,500 to 74 Sonoma County nonprofit organizations in the first part of this year through its Nonprofit Partner Program.

SANTA ROSA – Summit State Bank (NASDAQ: SSBI) today reported net income increased 23 percent in 2011 from 2010.

Summit State Bank reported $409,000 in net income for the third quarter of 2011, a 26 percent increase over the same quarter last year.

Increasingly, I see the more and more economic vitality from those businesses that are more lifestyle oriented. Sonoma County is becoming increasingly driven and transformed by individuals seeking a piece or being part of our unique lifestyle. Sonoma County has so much to offer, with our premium wineries, local produce and quality food, good climate and even our appealing cycling culture that is among the best of the world. Tourists are coming in increasing numbers to spend time in Sonoma County. We are attracting many who are moving here full-time to experience the bounty that makes up Sonoma County.

NORTH BAY – The passage of HR 5297, the Small Business Jobs Act, established in the Treasury the Small Business Lending Fund of $30 billion and $12 billion in tax incentives intended to spur lending and get small businesses back on their feet.