Current Price | $10.85 | Mkt Cap | $72.4M |
---|---|---|---|
Open | $10.80 | P/E Ratio | 6.73 |
Prev. Close | $10.85 | Div. (Yield) | $0.48 (4.4%) |
Daily Range | $10.80 - $10.90 | Volume | 1,004 |
52-Wk Range | $9.55 - $18.67 | Avg. Daily Vol. | 4,115 |
Summit State Bank began a tradition of quality customer service with its origin as Summit Savings and Loan Association in 1984.
Current Price | $10.85 | Mkt Cap | $72.4M |
---|---|---|---|
Open | $10.80 | P/E Ratio | 6.73 |
Prev. Close | $10.85 | Div. (Yield) | $0.48 (4.4%) |
Daily Range | $10.80 - $10.90 | Volume | 1,004 |
52-Wk Range | $9.55 - $18.67 | Avg. Daily Vol. | 4,115 |
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Summit State Bank provides banking services to individuals and businesses in its primary service area of Santa Rosa, California and the surrounding vicinity. The bank's branches are located within Sonoma County. The company offers depository and… More
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Summit State Bank provides banking services to individuals and businesses in its primary service area of Santa Rosa, California and the surrounding vicinity. The bank's branches are located within Sonoma County. The company offers depository and lending services primarily to meet the needs of its business and individual clientele. These services include a variety of transaction, money market, savings and time deposit account alternatives. Its lending activities are directed primarily towards commercial real estate and business loans.
In mid 2006, it completed an initial public offer raising around $19.2 millions. In 2006, net interest income improved by 6% and accounted around 89% of total revenue. Net interest margin strengthened further to 3.87%. Total non-interest income decreased to $1.3 millions due to decline in net gains on small business unit guaranteed loan sales and discontinuation of a deposit product line.
Sonoma County has one of the lowest unemployment rates in California with average household income being 26% above national median, thus portraying market potential of Sonoma County. With opening up of fifth office in south of Santa Rosa in mid 2007, overall net income growth rate is expected to reach 20% and improve upon its deposit market share.
Deposits have been primary source of funding. In order to control costs, now it focuses on reducing the proportion of higher cost time deposits with respect to low interest bearing transaction accounts. Launch of new extensive marketing program will enable them to attract more retail demand deposits.
Capital adequacy ratio is way ahead of requirement. The non-performing asset ratio has been stable and low since the past four years. The company’s strong financials will enable them to carry on expansion plans in markets like Marin County. It’s a market with strong demographics and lots of opportunities which company is planning to grab upon. Thus, with strong fundamentals and given growth opportunities, it’s wiser to go on for an accumulation spree.
Find the members with the highest scoring picks in SSBI.
HDTVBG (66.63) Score: +19.50
The Score Leader is the player with the highest score across all their picks in SSBI.
Top Pick |
Member Name |
Member Rating |
Start Date |
Call |
Time Frame |
Start Price |
Stock Gain |
Index Gain |
Score | Commentary |
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DigitalDisco | 54.77 | 3/14/2017 | 3Y | $10.79 | +0.57% | +120.71% | -120.14 | 1 Comment | ||
NetscribeFinServ | < 20 | 3/13/2007 | 1Y | $5.03 | +115.87% | +296.06% | -180.19 | 1 Comment |
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