Profile: Summit Bank (SBKO.PK)
22 Feb 2019
Summit Bank (the Bank) is an independent community bank. The Bank provides commercial banking, financing, real estate lending and other services primarily in Oregon in Lane and Deschutes Counties. The Bank's personal banking services include loans, such as home equity lines of credit, personal lines of credit, professional lines of credit, overdraft protection lines of credit, and auto, boat and recreational vehicle (RV) loans. The Bank offers a range of deposits for businesses, including customized business online banking, business mobile banking, automated clearing house (ACH) and wire transfers, and remote deposit service, and loans, such as business lines of credit, equipment term loans, commercial real estate term loans, residential and commercial construction loans, standby letters of credit and Small Business Administration guaranteed loans.
The Bank's loan portfolio includes real estate loans, commercial loans and consumer loans. The Bank's net loans amount to approximately $184.41 million.
The Bank classifies all investment securities as available-for-sale. The Bank's investment securities available for sale include obligations of the United States Government and the United States sponsored agencies, corporate securities and mortgage-backed securities. The Bank's total investment securities have a total fair value of approximately $5.64 million.
Sources of Funds
The Bank's primary sources of funds are its deposits. The Bank's deposits include noninterest-bearing demand deposits, savings and interest-bearing demand deposits, and time deposits. The Bank's total deposits amount to approximately $209.73 million.
96 E Broadway
EUGENE OR 97401-3135