Change in Leadership at Summit State Bank; James Brush retires, and Brian Reed succeeds as President and CEO - Seite 2

“I look forward to succeeding Jim Brush as President and CEO of Summit State Bank and perpetuating the growth that we have achieved over the last three years under Jim’s leadership.  While we are currently enduring trying times with the COVID-19 pandemic and administering the PPP loans, this has truly highlighted what an incredible team we have at Summit.  I am proud to lead this team into the future and am confident in our ability to perform at the highest levels,” said Brian Reed, incoming President and CEO.

About Summit State Bank

Summit State Bank, a local community bank, has total assets of $722 million and total equity of $68 million at March 31, 2020. Headquartered in Sonoma County, the Bank specializes in providing exceptional customer service and customized financial solutions to aid in the success of local small businesses and nonprofits throughout Sonoma County.

Summit State Bank is committed to embracing the diverse backgrounds, cultures and talents of its employees to create high performance and support the evolving needs of its customers and community it serves. At the center of diversity is inclusion, collaboration, and a shared vision for delivering superior service and results for shareholders. Presently, 75% of management and the Executive Management Team are women and minorities. Through the engagement of its team, Summit State Bank has received many esteemed awards including: Best Business Bank, Corporate Philanthropy Award and Best Places to Work in the North Bay.  Summit State Bank’s stock is traded on the Nasdaq Global Market under the symbol SSBI. Further information can be found at www.summitstatebank.com.

Forward-looking Statements

Except for historical information contained herein, the statements contained in this news release, are forward-looking statements within the meaning of the “safe harbor” provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. This release may contain forward-looking statements that are subject to risks and uncertainties. Such risks and uncertainties may include but are not necessarily limited to fluctuations in interest rates, inflation, government regulations and general economic conditions, and competition within the business areas in which the Bank will be conducting its operations, including the real estate market in California and other factors beyond the Bank’s control. Such risks and uncertainties could cause results for subsequent interim periods or for the entire year to differ materially from those indicated. You should not place undue reliance on the forward-looking statements, which reflect management’s view only as of the date hereof. The Bank undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.

Allan Hemphill
Chairman of the Board
Summit State Bank
PO Box 6188
Santa Rosa, CA 95406
[phone]
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