Summit Bank Group (OTCID: SBKO):

  • Q3 2026 Net Income – $4.65 million or $0.58 per fully diluted share, an increase of 16.5 percent over Q3 2025.

  • Year to date 2026 earnings per fully diluted share of $1.68, an increase of 29.3 percent over the previous year.

  • Cash and Securities total $199.6 million – 14.5 percent of assets, increased from 13.1 percent as of Q3 2025.

  • Year over year Net Loan Growth – $52.9 million or 4.8 percent.

  • Year over year Deposit Growth – $65.4 million or 5.7 percent.

  • Year to date 2026 Net Interest Income increased $2.2 million or 7.7 percent over the previous year.

  • Year to date Provision for Loan Losses decreased by $2.1 million or 38.1 percent compared to the previous year.

Summit Bank Group reported net income for the third quarter of $4.65 million or 58 cents per fully diluted share. Comparable earnings for third quarter of 2025 were $3.94 million or 50 cents per fully diluted share, representing an increase of 18.0 percent or 8 cents to earnings and earnings per fully diluted share, respectively. Improvements in net interest income (higher by $1.1 million or 7.6 percent over the previous year) and provision for loan losses (lower by $0.7 million or 40 percent) during the quarter continued trends from the previous quarter, extending the year to date improvement in net income to $3.15 million or 30.9 percent over the first nine months of 2025.

“We are pleased to report another positive quarter of financial results,” said Craig Wanichek, president and CEO. “Our business focused model has resulted in 11 consecutive quarters of trailing 12-month increases in earnings.”

The Bank continues to achieve balanced growth in its loan and deposit portfolios, with total net loans increasing by $52.9 million or 4.8 percent and total deposits increasing by $65.4 million or 5.7 percent over the most recent four quarters. The deposit growth consisted entirely of demand and money market account balances over the period (increasing by $87.4 million or 7.9 percent) as total certificates of deposit balances decreased by $21.9 million. “Solid loan growth from new and current clients combined with improvement in deposit mix and growth in demand deposits resulted in a record quarter,” said Wanichek.

“The Bank experienced nearly twice the non-scheduled loan pay-off activity so far this year as compared to 2025,” said Wanichek. “We are very comfortable with increased loan growth given our current very healthy capital and liquidity position. We are pleased with the solid loan production during the third quarter, particularly in an environment marked by loan payoff activity. Despite elevated payoffs, our bankers continue to generate strong new business opportunities, reflecting healthy demand and the strength of our client relationships. The Bank’s balance sheet remains highly liquid with cash and Available for Sale (AFS) short-term securities totaling $199.6 million, which represents 14.5 percent of total assets as of September 30th, 2026, increased from $169.5 million or 13.1 percent of assets as of September 30th 2025. Additionally, the Bank maintains secured borrowing commitments from the Federal Home Loan Bank and the Federal Reserve Bank with total available borrowing capacity as of September 30th, 2026, of $411 million, an increase of $72 million over the September 30th, 2025, total available. Combined, the Bank’s cash and available secured borrowing as of September 30th, 2026, total $560 million. This total is 40.7 percent of total assets and 144 percent of total estimated uninsured deposits as of September 30th, 2026.

Return on average equity for the third quarter, the 2026 year to date and the trailing four quarters was 13.6 percent, 13.5 percent, and 13.5 percent, respectively. Total shareholders’ equity ended the third quarter at $138.7 million, an increase of $18.6 million or 15.6 percent since September 30th, 2025. As the Company continues its 23rd year of operations, capital levels remain very strong, supporting its consistent asset growth with similarly strong retained earnings which have totaled $67.2 million over the last five years.

Total non-performing assets as of September 30th, 2026, total 0.43 percent of total assets. This total decreased slightly during the third quarter from 0.46 percent of total assets as of June 30th, 2026. Substantially all of the Bank’s total non-performing assets as of September 30th, 2026, carry US Small Business Administration guarantees which reduce the Bank’s exposure to losses on the assets. The total exposure to the Bank after such federal guarantees are applied is reduced to 0.12 percent of total assets.

Summit Bank Group Inc., through its wholly owned subsidiary Summit Bank, maintains offices in Eugene, Central Oregon, and Portland, specializing in providing high-level service to professionals and medium-sized businesses and their owners. The Bank was voted for the sixth year in a row as one of Oregon’s “Top 100 Companies to Work For,” according to Oregon Business Magazine. In 2023, 2025, and again this year, Summit Bank was honored as “Favorite Bank” in the Eugene Register-Guard’s annual Reader’s Choice Awards and “Best Bank” by Central Oregon’s Bend Bulletin. Summit Bank Group Inc. is quoted on the OTCID under the symbol SBKO. It was named in January as a Top 10 Place to Work for Working Parents, according to the Eugene Area Chamber of Commerce.

QUARTERLY FINANCIAL REPORT – September 30th 2026
 
(in thousands except per share data) Unaudited Unaudited Unaudited
As of As of As of
Summary Statements of Condition Sep. 30, 2026 Jun. 30, 2026 Sep. 30, 2025
Cash and short term investments

$

170,045

 

$

123,465

 

$

127,828

 
Securities

 

29,510

 

 

30,006

 

 

41,720

 
Loans:
Commercial

 

333,386

 

 

329,612

 

 

365,085

 
Commercial real estate

 

756,795

 

 

773,620

 

 

408,884

 
Other

 

68,209

 

 

54,457

 

 

331,179

 
Loan loss reserve and unearned income

 

(13,189

)

 

(13,088

)

 

(12,876

)
Total net loans

 

1,145,201

 

 

1,144,602

 

 

1,092,272

 
Property and other assets

 

31,945

 

 

31,665

 

 

29,560

 
Repossessed property

 

62

 

 

81

 

 

131

 
Total assets

$

1,376,763

 

$

1,329,818

 

$

1,291,511

 
 
Deposits:
Noninterest-bearing demand

$

216,060

 

$

204,669

 

$

193,303

 
Interest-bearing demand

 

976,577

 

 

940,898

 

 

911,958

 
Certificates of deposit

 

13,671

 

 

16,441

 

 

35,606

 
Total deposits

 

1,206,308

 

 

1,162,009

 

 

1,140,866

 
Subordinated debt

 

18,551

 

 

18,541

 

 

18,513

 
Other liabilities

 

13,205

 

 

15,464

 

 

12,111

 
Shareholders’ equity

 

138,699

 

 

133,804

 

 

120,020

 
Total liabilities and shareholders’ equity

$

1,376,763

 

$

1,329,818

 

$

1,291,511

 
 
Book value per share

$

17.58

 

$

16.96

 

$

15.39

 
 
Unaudited Unaudited Unaudited Unaudited Unaudited
For the nine months ended For the three months ended For the nine months ended For the three months ended For the three months ended
Summary Statements of Income Sep. 30, 2026 Jun. 30, 2026 Sep. 30, 2025 Sep. 30, 2026 Sep. 30, 2025
Interest income

$

61,832

 

$

20,668

 

$

60,778

 

$

21,290

 

$

20,764

 
Interest expense

 

(16,525

)

 

(5,623

)

 

(18,699

)

 

(5,600

)

 

(6,181

)
Net interest income

 

45,307

 

 

15,045

 

 

42,079

 

 

15,690

 

 

14,583

 
Provision for loan losses

 

(3,505

)

 

(1,530

)

 

(5,663

)

 

(1,108

)

 

(1,851

)
Noninterest income

 

2,200

 

 

810

 

 

1,277

 

 

611

 

 

645

 
Noninterest expense

 

(25,774

)

 

(8,676

)

 

(23,783

)

 

(8,843

)

 

(7,998

)
Net income before income taxes

 

18,228

 

 

5,648

 

 

13,910

 

 

6,350

 

 

5,379

 
Provision for income taxes

 

(4,889

)

 

(1,518

)

 

(3,721

)

 

(1,698

)

 

(1,439

)
Net income

$

13,339

 

$

4,130

 

$

10,190

 

$

4,652

 

$

3,941

 
 
Net income per share, basic

$

1.70

 

$

0.52

 

$

1.31

 

$

0.59

 

$

0.51

 
Net income per share, fully diluted

$

1.68

 

$

0.52

 

$

1.30

 

$

0.58

 

$

0.50

 
 
Unaudited Unaudited Unaudited Unaudited Unaudited
For the nine months ended For the three months ended For the nine months ended For the three months ended For the three months ended
Performance Ratios Sep. 30, 2026 Jun. 30, 2026 Sep. 30, 2025 Sep. 30, 2026 Sep. 30, 2025
Return on Average Assets

 

1.34

%

 

1.23

%

 

1.09

%

 

1.38

%

 

1.16

%
Return on Average Tangible Common Equity

 

13.50

%

 

12.55

%

 

11.89

%

 

13.66

%

 

13.37

%
Net Interest Margin

 

4.87

%

 

4.86

%

 

4.68

%

 

5.07

%

 

4.78

%
Yield on Earning Assets

 

6.64

%

 

6.67

%

 

6.76

%

 

6.88

%

 

6.81

%
Cost of Deposits

 

1.84

%

 

1.86

%

 

2.20

%

 

1.84

%

 

2.15

%
Efficiency Ratio

 

53.6

%

 

55.4

%

 

54.2

%

 

53.5

%

 

51.9

%
EPS Growth (YoY)

 

29.3

%

 

22.6

%

 

22.1

%

 

16.5

%

 

23.3

%
 
Asset Quality
Non-performing assets to Total Assets

 

0.43

%

 

0.46

%

 

0.37

%

 

0.43

%

 

0.37

%
Net Charge Offs to Average Loans

 

0.35

%

 

0.65

%

 

0.49

%

 

0.20

%

 

0.41

%
Reserve to Total Loans

 

1.18

%

 

1.18

%

 

1.31

%

 

1.17

%

 

1.28

%
Provision Expense to Total Loans

 

0.41

%

 

0.93

%

 

0.69

%

 

0.39

%

 

0.67

%
 
Capital
Tier 1 Capital to Risk Weighted Assets

 

13.0

%

 

12.6

%

 

11.9

%

 

13.0

%

 

11.9

%
Community Bank Leverage Ratio (CBLR)

 

11.6

%

 

11.3

%

 

10.9

%

 

11.6

%

 

10.9

%
 
Average Balances
Loans

$

1,135,359

 

$

1,139,227

 

$

1,087,684

 

$

1,147,367

 

$

1,109,217

 
Assets

$

1,328,354

 

$

1,339,877

 

$

1,251,040

 

$

1,349,361

 

$

1,269,152

 
Deposits

$

1,165,215

 

$

1,177,237

 

$

1,106,205

 

$

1,181,511

 

$

1,120,333

 

 

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