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Summit Bank Invests in Downtown Eugene

August 1, 2006

EUGENE, Ore., July 31, 2006 – “Having the opportunity to secure our downtown location fit our growth strategy,” said Ann Marie Mehlum, president and CEO of Summit Bank. “Because we embrace technology, we can effectively serve our clients from this convenient downtown location, which is literally at the city’s center.”

Last week, Summit purchased the building where it is currently located at the corner of Broadway and Oak. The 25,000 square foot, two-story U-shaped building houses professional and retail businesses, as well as the bank’s headquarters.

Summit opened in February 2004 with eight employees. Just two and a half years later, its success is marked by doubling the number of employees, having assets in excess of $65 million, growing its loan volume to over $40 million, and reaching profitability a year ago.

“Summit Bank adds value by taking a proactive approach to helping our clients achieve their goals,” Mehlum said. “We put a priority on getting to know our clients’ businesses. In fact, some of our staff spend more time in our clients’ offices than they do at their own desks. That’s what we want.”

Mehlum noted that approach resulted in identifying a need that Summit Bank met before any other bank in Lane County. In early 2005, the bank launched a remote deposit service, which makes it possible for small businesses and professionals to put money into their accounts without making a trip to the bank.

“Clients love this service,” Mehlum said. “Clearly, they value technology and its ability to improve their business operations. We always keep our eyes open for partners who have developed technology that can keep us at the forefront of innovation in banking, because that’s what our clients want.”

“Essentially, it comes down to making banking as easy and seamless as possible for businesses,” Mehlum said. “That’s why we stay in close contact with our clients and why we’ll continue to invest in technology.”

The bank will remodel the second floor of the space above its ground floor location to house its loan team. “Our employees like the convenience of our downtown Eugene location” Mehlum said. “We’re close to award-winning eateries, unique shopping, and professional offices. And clients like the convenience of our on-site parking and drive through service. We want to be part of revitalizing downtown’s core, because a vibrant downtown contributes to a healthy economy – and that’s really our bottom line.”