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Summit Bank Q1 2006 Earnings

May 1, 2006

Eugene, Ore. – Summit Bank has continued its rapid growth while at the same time posting increasing earnings during the first quarter of 2006.

Total net loans grew at an annualized growth rate of 71% for the quarter. Total deposits grew at a 109% annualized growth rate. Pre-tax net income (unaudited) for the 1st Quarter was $61 thousand or 6.3 cents per common share. Earnings for the previous quarter (unaudited) were $32 thousand or 3.2 cents per share.

“Even though the market is highly competitive,” according to Ann Marie Mehlum, President and Chief Executive Officer of the Bank, “we’re pleased to be continuing our growth, servicing business and professional clients who appreciate cutting edge technology and a personal banking relationship.”


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Q1 2006 Financial Statement (fin_stat_only_3_31_06.pdf) Q1 2006 Financial Statement
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