Summit State Bank (SSBI): History, Ownership, Mission, How It Works & Makes Money

Ever wondered about the story behind Summit State Bank (SSBI), a community bank operating in Sonoma County, California? With a history dating back to 1982, and a current market cap of $55.56 million USD as of April 2025, this blog post dives into the bank's evolution, who owns it, its guiding mission, and how it generates revenue.

From its humble beginnings as Summit Savings and Loan Association to becoming a publicly traded company on NASDAQ in 2006 under the ticker symbol SSBI, how has this institution managed to maintain its community focus while navigating the complexities of the financial world?

Keep reading to uncover the key aspects of Summit State Bank's operations, its commitment to the local community, and its strategic approach to banking in a competitive landscape, including its $1.12 billion in assets and more than 115 employees.

Summit State Bank (SSBI) History

Summit State Bank's Founding Timeline

Year established

Summit State Bank was established in 1982.

Original location

The bank was originally located in Rohnert Park, California.

Founding team members

The founding team included:

• James P. Ghilotti
• Robert W. Taylor
• Lloyd P. Johnson
• Robert M. Dobrzenski

Initial capital/funding

The initial capital raised to establish Summit State Bank was $2.25 million.

Summit State Bank's Evolution Milestones

Summit State Bank's Transformative Moments

• Acquisition of North Bay Savings Bank (1998): This acquisition significantly increased the bank's assets and expanded its footprint within Santa Rosa, marking a major growth phase.
• Appointment of Elizabeth Pagliarini as President and CEO (2016): This leadership change brought a new strategic vision, focusing on enhanced customer service and community engagement.
• Expansion into Oakland (2005): This move represented a strategic decision to extend the bank's services beyond Sonoma County into the broader East Bay market.
• Focus on Community Banking: The bank's consistent emphasis on serving local businesses and residents has solidified its role as a trusted community partner.

For more insights into the bank's guiding principles, visit: Mission Statement, Vision, & Core Values of Summit State Bank (SSBI).

Summit State Bank (SSBI) Ownership Structure

Summit State Bank operates with a structure that includes both public shareholders and key insiders. Understanding this structure provides insight into the bank's governance and strategic direction.

Summit State Bank's Current Status

Summit State Bank is a publicly traded company, meaning its shares are available for purchase by the general public on the stock market. This allows for a broad base of investors to participate in the bank's ownership and growth. You can read more about the investor profile Exploring Summit State Bank (SSBI) Investor Profile: Who’s Buying and Why?.

Summit State Bank's Ownership Breakdown

The ownership of Summit State Bank is distributed among various shareholders, including institutional investors, individual shareholders, and company insiders. The following table provides a general overview of the ownership percentages, based on the latest available data:

Summit State Bank's Leadership

The leadership team at Summit State Bank plays a crucial role in setting the strategic direction and overseeing the bank's operations. Key members of the leadership team include:

• Brian K. Wineke: President and Chief Executive Officer
• Sean Gray: Executive Vice President and Chief Financial Officer
• David P. DeFazio: Executive Vice President and Chief Credit Officer

These individuals, along with other members of the executive team and board of directors, are responsible for guiding the bank's performance and ensuring its long-term success.

Summit State Bank (SSBI) Mission and Values

Summit State Bank's mission is to deliver exceptional financial solutions and build lasting relationships within the communities it serves, guided by its core values of integrity, customer focus, community commitment, and employee appreciation.

Summit State Bank's Core Purpose

Official mission statement

Summit State Bank's official mission statement is: 'Summit State Bank is committed to providing unparalleled service and building strong relationships, while creating value for our shareholders, employees and communities.'

Vision statement

While a specific, distinct 'vision statement' may not be explicitly highlighted in recent public documents, Summit State Bank's actions and strategic goals suggest a vision focused on:

• Sustained Growth: Continuing to expand its reach and impact within its existing markets and potentially new, carefully considered regions.
• Technological Advancement: Embracing and integrating new technologies to enhance customer experience, streamline operations, and maintain a competitive edge.
• Community Leadership: Reinforcing its role as a key community partner, actively supporting local initiatives and contributing to the economic well-being of the areas it serves.
• Employee Development: Fostering a supportive and challenging work environment that attracts, retains, and develops talented banking professionals.

Company slogan/tagline

Summit State Bank does not have a widely publicized official slogan or tagline. However, their commitment to local communities and personalized service is reflected in their approach. More information about Summit State Bank and similar topics can be found at: Exploring Summit State Bank (SSBI) Investor Profile: Who’s Buying and Why?

Summit State Bank (SSBI) How It Works

Summit State Bank operates as a community bank, focusing on providing a range of financial services to individuals and businesses within its local market. The bank primarily generates revenue through interest income from loans and investments, as well as fees for various services.

Summit State Bank's Product/Service Portfolio

Summit State Bank's Operational Framework

Summit State Bank focuses on building strong customer relationships and providing personalized service. The bank's operational framework involves:

• Loan Origination and Underwriting: Evaluating creditworthiness and structuring loans to manage risk.
• Deposit Gathering: Attracting and retaining deposits through competitive rates and convenient services.
• Investment Management: Managing the bank's investment portfolio to maximize returns while maintaining liquidity and safety.
• Customer Service: Providing responsive and knowledgeable customer support through various channels, including branches, online, and mobile.
• Compliance and Risk Management: Adhering to regulatory requirements and managing operational, credit, and market risks.

The bank also emphasizes community involvement and supports local initiatives to enhance its reputation and customer loyalty. You can gain more insights into the values that drive their actions through: Mission Statement, Vision, & Core Values of Summit State Bank (SSBI).

Summit State Bank's Strategic Advantages

Summit State Bank's success is driven by several strategic advantages:

• Local Market Focus: Deep understanding of the local market and customer needs, enabling tailored products and services.
• Relationship Banking: Building long-term relationships with customers based on trust and personalized service.
• Efficient Operations: Streamlined processes and technology to enhance efficiency and reduce costs.
• Strong Asset Quality: Maintaining a high-quality loan portfolio through rigorous underwriting standards.
• Experienced Management Team: A skilled and experienced management team with a proven track record of success.

By leveraging these advantages, Summit State Bank effectively serves its customers, manages risks, and delivers value to its shareholders.

Summit State Bank (SSBI) How It Makes Money

Summit State Bank primarily generates revenue through interest income from loans and investments, as well as fees from various banking services.

Summit State Bank's Revenue Breakdown

As a smaller bank, specific revenue breakdowns (% of total) and growth trends may not be as readily available or as detailed as those of larger, publicly traded institutions. Information is based on the fiscal year 2024 data.

Summit State Bank's Business Economics

Summit State Bank's business economics are influenced by several factors:

• Interest Rate Spread: The bank profits from the spread between the interest it earns on loans and the interest it pays on deposits. Changes in prevailing interest rates significantly impact this spread.
• Loan Portfolio Composition: The types of loans (e.g., commercial, real estate, consumer) and their associated risk levels affect profitability.
• Operating Efficiency: Managing operational costs, including salaries, technology, and regulatory compliance, is crucial for maintaining profitability.
• Local Market Conditions: Economic conditions in Sonoma County, California, where the bank operates, influence loan demand and credit quality.

To delve deeper into understanding who invests in Summit State Bank and the motivations behind those investment decisions, check out this insightful resource: Exploring Summit State Bank (SSBI) Investor Profile: Who’s Buying and Why?

Summit State Bank's Financial Performance

Analyzing Summit State Bank's financial performance involves looking at key metrics, which are based on the fiscal year 2024 data:

• Net Interest Margin (NIM): A key profitability metric, NIM reflects the difference between interest income and interest expense relative to earning assets. A healthy NIM typically falls in the range of 3% to 4% for community banks.
• Efficiency Ratio: This ratio measures operating expenses as a percentage of revenue. A lower efficiency ratio indicates better operational efficiency; typically, a good efficiency ratio is below 60%.
• Return on Assets (ROA): ROA measures how efficiently a bank is using its assets to generate earnings. An ROA of 1% or higher is generally considered good.
• Return on Equity (ROE): ROE indicates how well a bank is generating returns for its shareholders. A healthy ROE is often in the range of 10% or higher.
• Asset Quality: Monitoring non-performing loans and loan loss reserves is crucial for assessing asset quality and potential credit losses.

Summit State Bank (SSBI) Market Position & Future Outlook

As of April 2025, Summit State Bank navigates a competitive landscape while striving to maintain a strong regional presence. The bank is focused on leveraging its community ties and personalized service to carve out a niche against larger, more diversified competitors. For more information, see Mission Statement, Vision, & Core Values of Summit State Bank (SSBI).

Competitive Landscape

Opportunities & Challenges

Industry Position

Summit State Bank occupies a specific niche within the broader banking industry, characterized by:

• A focus on serving the financial needs of local communities and small to medium-sized businesses.
• Emphasis on building long-term relationships with customers through personalized service and local expertise.
• Commitment to supporting local economic development through community involvement and lending initiatives.