Change in Leadership at Summit State Bank; James Brush retires, and Brian Reed succeeds as President and CEO

SANTA ROSA, Calif., April 28, 2020 (GLOBE NEWSWIRE) -- Summit State Bank (NASDAQ: SSBI) President and CEO, James Brush confirmed his retirement at today’s Board of Director’s Meeting.  Brush assumed the role of President and CEO in April of 2016 and has led the Bank through its recent growth and staff expansion. He has served on the Bank’s Board of Directors since 2009 and will remain on the Board and continue to be active in Sonoma County, where he resides.

“On behalf of the entire board and shareholders, it is with sincere appreciation that we recognize Jim for his dedication and tireless effort during his four years of service. In collaboration with the Board, Jim developed and executed a new and bold vision for the Bank.  To build a new foundation he surrounded himself with the best management team in Northern California. The positive results from those Initiatives are now paying off for shareholders in the form of substantial earnings improvement and sustainable asset growth,” said Allan Hemphill, Chairman of the Board of Summit State Bank.

“It has been an honor and a pleasure to serve as the President and CEO of Summit State Bank for the past four years.  We have a truly great team of people and our focus on first-rate customer service is second to none.  Our last several quarters show a positive trend of strong earnings.  I look forward to continuing my service on the Board of Directors and seeing the Bank continue to grow and prosper in our community.  This past couple of months have indeed been stressful due to the COVID-19 pandemic and a testament that our entire staff has the experience and resiliency to persevere well into the future.  A special thank you to everyone I have worked with over the past four years, it has been a special journey,” said James Brush, retiring President and CEO.

The Board has named current Executive Vice President/Chief Credit Officer Brian Reed in the succession plan to fill the role of President and Chief Executive Officer. The succession plan informally began earlier last year and now has been ratified by the Board of Directors.

Brian has been in banking since 1985.  He joined Summit in late 2016 and has been instrumental in realigning the Bank’s loan operations. He earned his Master’s degree from the American Graduate School of International Management in Arizona, and graduated with a Bachelor’s degree in Business Economics from the University of California at Santa Barbara, with an emphasis in Accounting and Corporate Finance.