Summit State Bank

Headquarters

500 Bicentennial Way
Santa Rosa, CA 95403
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 3.50% →
1-Year CD N.A. 3.70% →
2-Year CD N.A. 3.80% →
5-Year CD N.A. 4.25% →
30-Year Mortgage N.A. 6.20% →
15-Year Mortgage N.A. 5.66% →
HELOC N.A. 2.79% →

2022 Overview

General Bank Information

Summit State Bank is an FDIC insured institution located in Santa Rosa, CA. It was founded in 1982 and has approximately $0.98 billion in assets. Customers can open an account at one of its 5 branches.

FDIC Insured Yes
FDIC Certificate # 32203
Date Established 1982
Assets $ 982.68 million
Loans $ 818.17 million
Deposits $ 831.93 million
Capital $ 83.71 million
 

For a more detailed analysis of Summit State Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - October 4, 2022

Your Current Location: Connecticut, CT 06828

There are currently no rates available for Summit State Bank, but see these great savings and CD rates:

Advertiser Disclosure
 

Loan Rates - October 4, 2022

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Summit State Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Connecticut 30 Year Fixed Mortgage Rates 2022

Lender APR Rate (%) Monthly
Payment
Learn More
Interstate Home Loan Center, Inc
NMLS ID: 56315
6.489% 6.375%
0.75 points
$2,985 fees
$1,560 Learn More
Rocket Mortgage
NMLS ID: 3030
6.985% 6.875%
0.63 points
$2,812 fees
$1,643 Learn More
Morty, Inc.
NMLS ID: 1429243
6.064% 5.990%
0.75 points
$1,988 fees
$1,498 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2022

Lender APR (%)? Monthly Payment? Learn More

Note to Summit State Bank
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

Summit State Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Fairfield,Connecticut


Summit State Bank Locations



Climate Initiatives

Summit State Bank is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.

Financial Details

Summit State Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Summit State Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Summit State Bank U.S. Bank Average
0% 4.01%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2022, Summit State Bank had $0 in non-current loans and $0 in owned real estate. To cover these potential losses it had $83,708,000 in equity and $12,453,000 in loans loss reserves. That gives it a Texas Ratio of 0%.

Return on Equity
Summit State Bank U.S. Bank Average
18.74% 9.01%

Summit State Bank has a Return on Equity of 18.74% versus the BestCashCow average of 9.01%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Summit State Bank U.S. Bank Average
8.52% 10.66%

Summit State Bank has a Capitalization of 8.52% versus the BestCashCow average of 10.66. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Summit State Bank Balance Sheet Analysis

As of March 31, 2022, Summit State Bank had assets of $982,678,000, loans of $818,171,000, and deposits of $831,934,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

March 31, 2022
ASSETS
Cash & Balances due from depository institutions $ 65.90 million
Interest-bearing balances $ 52.10 million
Total securities $ 63.33 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 818.17 million
Loan loss allowance $ 12.45 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 7.84 million
All other assets $ 20.76 million
     Total Assets $ 898.97 million
LIABILITIES
Total deposits $ 831.93 million
      Interest-bearing deposits $ 575.68 million
      Deposits held in domestic offices $ 831.93 million
      % insured (estimated) 60.49%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 49.64 million
Subordinated debt $ 5.90 million
All other liabilities $ 11.50 million
      Total Liabilities $ 898.97 million
      Shareholders’ Equity $ 83.71 million

Summary Income Statement

March 31, 2022
INCOME AND EXPENSES
Total Interest Income $ 10.88 million
Total Interest Expense $ 1.00 million
Net interest income $ 9.88 million
Provision for loan and lease losses $ 0.14 million
Total non interest income $ 1.87 million
Total non interest expense $ 6.18 million
Pre-tax Net Operating Income $ 5.43 million

Bank Loan Profile?

The top three loan types in Summit State Bank’s loan portfolio are Commercial Real Estate, Construction and Development Loans, and 1-4 Family Residential Loans.

Compared to other banks in California, Summit State Bank has a significantly higher percent of Construction and Development Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 7.53
Multifamily
Mortgages
5.34
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 0.00
Construction and Development Loans 11.70
Commercial Real Estate 60.03
Commercial and Industrial Loans 6.84
Farm Loans 0.26

Customer Reviews for Summit State Bank

There are currently no comments for Summit State Bank. Be the first to share your experience. Please provide comments that will help others.

Add Your Review

Rate it here →