Summit State Bank Earns $1,674,000, or $0.25 Per Diluted Share, in First Quarter 2026

Summit State Bank reported first quarter net income of $1.67 million, or $0.25 per diluted share, down from $2.49 million, or $0.37 per share, in the prior year period. Despite the earnings decline, the bank achieved strong core operational performance with pre-tax, pre-provision income rising to $3.32 million and net interest margin expanding 58 basis points to 3.77%. Credit quality metrics weakened as non-performing assets increased to $35.17 million, resulting in a $1.06 million provision for credit losses compared to a reversal in the prior year.

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