FT Markets Data
Summit Bank (Oregon)

Summit Bank Group Reports 2026 1st Quarter Earnings

Record Quarterly Net Income

EUGENE, Ore.--(BUSINESS WIRE)--Apr. 29, 2026-- Summit Bank Group (OTCID: SBKO)

  • Q1 2026 Net Income - $4.56 million or $0.58 per fully diluted share, an increase of 54.0 percent over Q1 2025.
  • Q1 2026 earnings per fully diluted share increased 8.4 percent over the previous quarter.
  • Cash and Securities total $204.3 million – 15.1 percent of assets, increased from 14.8 percent as of Q1 2025.
  • Year over year Net Loan Growth - $53.0 million or 5.0 percent.
  • Year over year Deposit Growth - $49.1 million or 4.3 percent.
  • Q1 2026 Net Interest Income increased $1.1 million or 8.1 percent over Q1 2025.

Summit Bank Group reported net income for the first quarter of $4.56 million or 58 cents per fully diluted share. Comparable earnings for first quarter of 2025 were $2.93 million or 37 cents per fully diluted share, representing an increase of 54.0 percent or 21 cents to earnings and earnings per fully diluted share respectively. The first quarter earnings growth compared to the first quarter of 2025 was the result of net interest income increasing by $1.1 million, provision for loan losses also improving by $1.1 million, non-interest income improving by $0.6 million, combined with modest growth-related increases to noninterest expense (higher by $525 thousand).

“We are pleased to report our 3rd consecutive quarter with record EPS; 50, 53, and now 58 cents,” said Craig Wanichek, president and CEO. “The Bank’s trailing 4 quarter EPS is $2.04 and is 15% higher than the previous best ever. The first quarter results reflect the strength of our team, the loyalty of our clients and the momentum we are building across the Company in all of our markets. The strength of our relationships combined with the commitment of our team makes us well-positioned for the opportunities ahead.”

The Bank continues to achieve balanced growth in its loan and deposit portfolio, with total net loans increasing by $53.0 million or 5.0 percent and total deposits increasing by $49.1 million or 4.3 percent over the most recent four quarters. Deposit mix has been significantly improved over the same period with time deposits decreasing by $95.2 million or 85.2 percent and demand and money market account balances increasing by $144 million or 14.0 percent.

The Bank’s balance sheet remains highly liquid with cash and Available for Sale (AFS) short-term securities totaling $204.4 million, which represents 15.1 percent of total assets as of March 31, 2026, increased from $189.5 million or 14.8 percent of assets as of March 31, 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 March 31, 2026, of $323 million. The Bank’s cash and available secured borrowing as of March 31, 2026, total $500 million. This total is 37.0 percent of total assets and 127 percent of total estimated uninsured deposits as of March 31, 2026.

Return on average equity for the first quarter and the trailing four quarters was 14.3 percent and 13.3 percent respectively. Total shareholders’ equity ended the first quarter at $129.4 million, an increase of $17.2 million or 15.3 percent since March 31, 2025. As the Company begins its 23rd year of operations, capital levels remain very strong, supporting its consistent asset growth with similarly strong retained earnings which have totaled $61.2 million over the last five years.

Total non-performing assets as of March 31, 2026, total 0.54 percent of total assets. This total increased during the first quarter from 0.10 percent of total assets as of December 31, 2025. All of the non-performing assets added during the first quarter 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 0.15 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 fifth year in a row as one of Oregon’s “Top 100 Companies to Work For,” according to Oregon Business Magazine. Summit Bank was recently awarded the “Top 100 Green Companies to Work For” designation for the eighth year. In 2023, 2025 and 2026, 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, in 2025 and again in 2026

QUARTERLY FINANCIAL REPORT – March 31 2026

 
(in thousands except per share data) Unaudited Unaudited Unaudited
As of As of As of
Summary Statements of Condition Mar. 31, 2026 Dec. 31, 2025 Mar. 31, 2025
Cash and short term investments

$

177,682

 

$

119,699

 

$

147,684

 

Securities

 

26,671

 

 

27,314

 

 

41,777

 

Loans:
Commercial

 

335,212

 

 

337,963

 

 

324,864

 

Commercial real estate

 

733,554

 

 

700,339

 

 

650,392

 

Other

 

61,001

 

 

76,081

 

 

99,921

 

Loan loss reserve and unearned income

 

(12,802

)

 

(12,803

)

 

(11,228

)

Total net loans

 

1,116,966

 

 

1,101,580

 

 

1,063,950

 

Property and other assets

 

30,132

 

 

30,317

 

 

30,521

 

Repossessed property

 

84

 

 

115

 

 

538

 

Total assets

$

1,351,534

 

$

1,279,026

 

$

1,284,470

 

 
Deposits:
Noninterest-bearing demand

$

192,283

 

$

184,733

 

$

166,494

 

Interest-bearing demand

 

980,948

 

 

916,878

 

 

862,451

 

Certificates of deposit

 

16,522

 

 

20,231

 

 

111,732

 

Total deposits

 

1,189,754

 

 

1,121,841

 

 

1,140,676

 

Subordinated debt

 

18,532

 

 

18,522

 

 

18,493

 

Other liabilities

 

13,871

 

 

14,054

 

 

13,124

 

Shareholders' equity

 

129,377

 

 

124,608

 

 

112,177

 

Total liabilities and shareholders' equity

$

1,351,534

 

$

1,279,026

 

$

1,284,470

 

 
Book value per share

$

16.43

 

$

15.97

 

$

14.48

 

 
Unaudited Unaudited Unaudited
For the three
months ended 		For the three
months ended 		For the three
months ended
Summary Statements of Income Mar. 31, 2026 Dec. 31, 2025 Mar. 31, 2025
Interest income

$

19,874

 

$

19,865

 

$

19,883

 

Interest expense

 

(5,302

)

 

(5,755

)

 

(6,401

)

Net interest income

 

14,572

 

 

14,110

 

 

13,482

 

Provision for loan losses

 

(866

)

 

(451

)

 

(1,953

)

Noninterest income

 

779

 

 

633

 

 

182

 

Noninterest expense

 

(8,253

)

 

(8,745

)

 

(7,728

)

Net income before income taxes

 

6,232

 

 

5,546

 

 

3,983

 

Provision for income taxes

 

(1,673

)

 

(1,370

)

 

(1,059

)

Net income

$

4,559

 

$

4,177

 

$

2,925

 

 
Net income per share, basic

$

0.58

 

$

0.54

 

$

0.38

 

Net income per share, fully diluted

$

0.58

 

$

0.53

 

$

0.37

 

 
Unaudited Unaudited Unaudited
For the three
months ended 		For the three
months ended 		For the three
months ended
Performance Ratios Mar. 31, 2026 Dec. 31, 2025 Mar. 31, 2025
Return on Average Assets

 

1.39

%

 

1.30

%

 

0.92

%

Return on Average Tangible Common Equity

 

14.36

%

 

13.66

%

 

10.59

%

Net Interest Margin

 

4.54

%

 

4.46

%

 

4.33

%

Yield on Earning Assets

 

6.19

%

 

6.33

%

 

6.42

%

Cost of Deposits

 

1.78

%

 

1.98

%

 

2.21

%

Efficiency Ratio

 

53.8

%

 

59.3

%

 

56.6

%

EPS Growth (YoY)

 

54.0

%

 

35.9

%

 

19.4

%

 
Asset Quality
Non-performing assets

 

0.54

%

 

0.10

%

 

0.10

%

Net Charge Offs to Average Loans

 

0.39

%

 

0.60

%

 

0.72

%

Reserve to Total Loans

 

1.12

%

 

1.17

%

 

1.17

%

Provision Expense to Total Loans

 

0.08

%

 

0.04

%

 

0.18

%

 
Capital
Tier 1 Capital to Risk Weighted Assets

 

12.51

%

 

12.32

%

 

11.66

%

Community Bank Leverage Ratio (CBLR)

 

11.38

%

 

10.92

%

 

10.42

%

 
Average Balances
Loans

$

1,109,273

 

$

1,109,044

 

$

1,062,254

 

Assets

$

1,315,280

 

$

1,285,269

 

$

1,269,661

 

Deposits

$

1,155,798

 

$

1,131,354

 

$

1,127,280

 

 

Craig Wanichek, President & Chief Executive Officer 541-684-7500

Source: Summit Bank Group