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SUMMIT STATE BANK

(SSBI)
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Summit State Bank : Promotes Marjorie Peterson, Candy Yandell and Cindy Hume

03/01/2021 | 02:06pm EDT

FOR IMMEDIATE RELEASE

Brian Reed

President and CEO Summit State Bank 500 Bicentennial Way Santa Rosa, CA 95403 (707) 568-4908 breed@summitstatebank.com

Summit State Bank Promotes Marjorie Peterson, Candy Yandell and Cindy Hume to Vice President

Santa Rosa, CA - (March 1, 2021) - Summit State Bank (NASDAQ: SSBI) has promoted Marjorie Peterson, Candy Yandell and Cindy Hume to Vice President. Peterson is the Branch Manager at the Bicentennial Branch in Santa Rosa, Yandell is the Cash Management Services Manager and Hume is a Senior Underwriter.

"Our philosophy is to provide on-going support and training so our leaders can excel in their careers. Marjorie, Candy and Cindy are tenured and valued leaders on our team. Each of them plays a key role in the overall success of the Bank and we are fortunate to have their expertise and talent. In addition, they are active in the community which is an important part of the Bank's role as a community bank. It gives me great pleasure to work with them daily," said Brian Reed, President and CEO of Summit State Bank.

Marjorie joined the Bank in 2004 and has held variety of positions at the Rohnert Park and Santa Rosa Main branches. In her 16 years of service, she has served as the Branch Manager of the Santa Rosa Main Branch for the past 7 years and works closely with customers to build strong relationships. Marjorie holds an Associate of Arts in Social and Behavioral Science from Sonoma State University. In 2015, she was promoted to Assistant Vice President. For the past several years, Marjorie has led the Bank's participation in the Mike Hauser Academy with the Santa Rosa Metro Chamber. Volunteering is a natural extension of her giving personality and in 2020, she volunteered with her family to launch Operation Christmas Tree. Together with giving volunteers, they helped make the holidays brighter for 70 local families, by delivering Christmas trees, meals, and gifts. She is currently serving on the Advisory Board for the Boys & Girls Club of Marin-Sonoma.

Candy has been with the Bank for 16 years and in banking for over 25 years. Candy has played a key role in building customer relationships across the organization, and especially in Healdsburg as the former Branch Manager of the Healdsburg Branch for more than 10 years. In June of 2017, Candy was promoted to Assistant Vice President and earned her current role as Cash Management Service Manager in 2019. Candy volunteers throughout the Sonoma County community and has served on the Board of the Healdsburg Chamber of Commerce, Healdsburg Young Professionals and Entrepreneurs, and the Advisory Board for the Healdsburg and Geyserville Boys and Girls Club.

Cindy joined Summit State Bank in 2015. She brought nearly a decade of experience in the construction industry, serving as the Controller for a large sub-contractor. She graduated from Sonoma State University with a Bachelor of Arts degree, and a Master's degree from the University of Southern California. Cindy began her career at Summit State Bank as a temporary employee in the Accounting Department and quickly moved to Credit Administration as a Credit Analyst. In 2017, she joined the Underwriting Team as an Underwriter and was promoted to Assistant Vice President in 2018. Cindy earned her current position as a Senior Underwriter in 2020. She has been a long -time volunteer and is currently theSecretary/Executive Director of the North Bay Italian Cultural Foundation. Cindy enjoys volunteering throughout our community and spending time with her family.

About Summit State Bank

Summit State Bank, a local community bank, has total assets of $866 million and total equity of $76 million on December 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, 76% of management are women and minorities with 60% represented on the Executive Management Team. 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 atwww.summitstatebank.com.

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Disclaimer

Summit State Bank published this content on 01 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 March 2021 19:05:00 UTC.


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Financials (USD)
Sales 2020 32,6 M - -
Net income 2020 10,5 M - -
Net Debt 2020 28,6 M - -
P/E ratio 2020 7,79x
Yield 2020 3,56%
Capitalization 101 M 101 M -
EV / Sales 2019 3,72x
EV / Sales 2020 3,38x
Nbr of Employees 93
Free-Float 99,3%
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Managers and Directors
NameTitle
Brian Reed President, Chief Executive Officer & Director
Camille Kazarian Chief Financial Officer & Executive Vice President
James E. Brush Chairman
Genie Del Secco Chief Operating Officer & Executive Vice President
Marshall T. Reynolds Independent Director