Santa Rosa's Summit State Bank undergoes changes
Summit State Bank announced leadership and board changes, including the addition of Jim Barnett as vice president and small business lending officer.
Barnett, who worked in a parallel position at Exchange Bank, came on board with the Santa Rosa-based bank last month. His announcement came out Friday.
The banking discipline is right up Barnett's alley. The Santa Rosa native, with 16 years of experience, took the post to enrich his experience and make an impact under the umbrella of a financial institution that boasts “a more robust portfolio,” he told the Business Journal.
Barnett arrived at a time with commerce struggling with the COVID-19 crisis, since state and local governments imposed shelter-in-place orders to protect community health.
“What is going to come out of this, obviously, is this is a difficult time for everybody with many challenges ahead. But we're going to see opportunity at the same time. We're seeing it already,” Barnett said.
For one economic observation, a shift to a retooling region in which manufacturing is embraced has led to the flourishing within industrial spaces. More companies that seek to ship and deliver “could be more in demand than retail,” he indicated.
“It is an interesting time,” he said. “What's encouraging to me is all the programs available through the (Paycheck Protection Program) as one that's become a much more-known platform.”
In addition to Exchange Bank, the bank executive has worked for Sonoma National and U.S. Bank as well as Sterling Savings before it became a part of the Umpqua brand.
Barnett attended St. Mary's College in addition to graduating from the Pacific Coast Banking School of Executive Management and Leadership.
“Jim has been highly successful in establishing relationships with small businesses throughout the greater North and East Bay areas,” said Brian Reed, Summit's president and CEO. “His knowledge and customer focus are welcome and aligned with meeting the bank's strategic direction for growth.”
Part of that growth involves the cycle of new talent that makes up Summit State Bank's board of directors.
Building a new board
The community bank also announced Monday the board appointment of Sharon Wright, a governmental relations and public affairs consultant.
Wright now serves on the Santa Rosa Memorial Hospital Board of Trustees and Burbank Housing Development Corporation Board of Directors.
In addition to serving with Leadership Santa Rosa and Goodwill Industries, Wright was a member of the Santa Rosa City Council for 12 years, with a few terms fulfilling the mayoral role.
James Brush, the outgoing president and chief executive officer as of April, commended Wright for her business acumen and commitment to her community. Brush serves as Summit's chairman of the board. He will serve alongside Reed, who has also been appointed to the board.
After 21 years, the outgoing board Chairman Allan J. Hemphill confirmed his retirement at Monday's shareholder meeting. The long-serving board member will continue to run Hemphill and Associates, a winery consulting and management firm.
Brush also praised Hemphill for leading the board during a period of “significant growth” for the bank.
Summit State Bank, which is located in downtown Santa Rosa, had total assets of $722 million at the end of last quarter.
