SANTA ROSA, Calif., Jan. 27, 2026 (GLOBE NEWSWIRE) -- Summit State Bank (the “Bank”) (Nasdaq: SSBI) today reported net income of $1,067,000, or $0.16 per diluted share for the fourth quarter ended December 31, 2025, compared to net loss of $7,142,000, or $1.06 loss per diluted share for the fourth quarter ended December 31, 2024. For the year ended December 31, 2025, the Bank reported net income o...
SANTA ROSA, Calif., Jan. 27, 2026 (GLOBE NEWSWIRE) -- Summit State Bank (the “Bank”) (Nasdaq: SSBI) today reported net income of $1,067,000, or $0.16 per diluted share for the fourth quarter ended December 31, 2025, compared to net loss of $7,142,000, or $1.06 loss per diluted share for the fourth quarter ended December 31, 2024. For the year ended December 31, 2025, the Bank reported net income of $6,796,000, or $1.01 per diluted share compared to a net loss of $4,193,000, or $0.62 loss per diluted share for the year ended December 31, 2024. “In 2025, our focus was on building a strong foundation for the future, and we made meaningful progress toward that goal,” said Brian Reed, President and CEO. “After reporting a net loss in 2024, we returned to profitability and made significant progress on our strategic priorities. Our core banking operations performed well, with improved net interest margin and disciplined expense management driving our results. While we continue to work through some credit challenges in our loan portfolio, the overall trajectory is positive. Our team remains focused on what we do best: serving the financial needs of local businesses and families. That focus is reflected in our earnings for the fourth quarter and for the year. We are encouraged by this progress and committed to building on this momentum in the year ahead. Fourth quarter 2025 Financial Highlights (at or for the three months ended December 31, 2025) Net income was $1,067,000, or $0.16 per diluted share, compared to a net loss of $7,142,000, or $1.06 loss per diluted share, in the fourth quarter of 2024 and net income of $818,000, or $0.12 per diluted share for the third quarter ended September 30, 2025. Net interest margin was 3.62% in the fourth quarter of 2025 compared to 2.88% in the fourth quarter of 2024 and 3.51% in the third quarter of 2025. Non-performing assets were $27,346,000 at December 31, 2025 compared to $32,191,000 at December 31, 2024 and $27,978,000 at Septemb...