Summit State Bank Q3 net income up, dividend suspended-November 2024-www.financetom.com

Summit State Bank Q3 net income up, dividend suspended

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Summit State Bank Q3 net income up, dividend suspended

Oct 29, 2025 6:32 AM

Overview

* Summit State Bank ( SSBI ) Q3 net income rises to $818,000, up from $626,000 last year

* Net interest margin expands to 3.51% from 2.71% in Q3 2024

* Company suspends Q3 cash dividend to strengthen capital base and liquidity

Outlook

* Summit State Bank ( SSBI ) suspends cash dividends to bolster capital base

* Company focuses on disciplined balance sheet management amid market volatility

* Bank aims to improve liquidity and create long-term shareholder value

Result Drivers

* NET INTEREST INCOME - Higher net interest income and margin expansion supported operating performance, per CEO Brian Reed

* COST MANAGEMENT - Operating expenses decreased due to cost-saving measures, including a reduction in force and lower FDIC insurance expenses

* BALANCE SHEET MANAGEMENT - Strategic management of loan and deposit portfolios reduced balance sheet risk and improved capital ratios

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS $0.12

Q3 Net -$7,000

Income

Q3 Basic $0.12

EPS

Q3 Net 3.51%

Interest

Margin

Press Release:

For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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