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Summit State Bank NasdaqGM:SSBI Stock Report

Last Price


Market Cap







09 Aug, 2022


Company Financials
SSBI fundamental analysis
Snowflake Score
Future Growth0/6
Past Performance4/6
Financial Health6/6

SSBI Stock Overview

Summit State Bank provides various banking products and services to individuals and businesses primarily in Sonoma County, California.


Trading at 57.1% below our estimate of its fair value

Earnings grew by 21.5% over the past year

Pays a reliable dividend of 3.2%

Risk Analysis

No risks detected for SSBI from our risk checks.

Summit State Bank Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Summit State Bank
Historical stock prices
Current Share PriceUS$15.01
52 Week HighUS$20.00
52 Week LowUS$13.91
1 Month Change-1.74%
3 Month Change-1.57%
1 Year Change-1.13%
3 Year Change37.02%
5 Year Change32.09%
Change since IPO37.59%

Recent News & Updates

Jul 29
Summit State Bank (NASDAQ:SSBI) Is Due To Pay A Dividend Of $0.12

Summit State Bank (NASDAQ:SSBI) Is Due To Pay A Dividend Of $0.12

Summit State Bank ( NASDAQ:SSBI ) has announced that it will pay a dividend of $0.12 per share on the 18th of August...

Jul 26

Summit State Bank declares $0.12 dividend

Summit State Bank (NASDAQ:SSBI) declares $0.12/share quarterly dividend, in line with previous. Forward yield 3.06% Payable Aug. 18; for shareholders of record Aug. 11; ex-div Aug. 10. See SSBI Dividend Scorecard, Yield Chart, & Dividend Growth.

Shareholder Returns

SSBIUS BanksUS Market

Return vs Industry: SSBI exceeded the US Banks industry which returned -14.7% over the past year.

Return vs Market: SSBI exceeded the US Market which returned -13% over the past year.

Price Volatility

Is SSBI's price volatile compared to industry and market?
SSBI volatility
SSBI Average Weekly Movement2.5%
Banks Industry Average Movement3.7%
Market Average Movement7.9%
10% most volatile stocks in US Market17.2%
10% least volatile stocks in US Market3.2%

Stable Share Price: SSBI is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: SSBI's weekly volatility (2%) has been stable over the past year.

About the Company

198299Brian Reed

Summit State Bank provides various banking products and services to individuals and businesses primarily in Sonoma County, California. It offers personal and business checking, money market, sweep, savings, and demand accounts; time certificates of deposit; and specialized deposit accounts, such as professional, small business packaged, tiered, individual retirement, and other retirement plan accounts. The company also provides loans, including commercial loans and leases; lines of credit; commercial real estate, small business administration, residential mortgage, and construction loans; home equity lines of credit; and lines of credit, term, and equipment loans, as well as loans to agriculture-related businesses.

Summit State Bank Fundamentals Summary

How do Summit State Bank's earnings and revenue compare to its market cap?
SSBI fundamental statistics
Market CapUS$100.39m
Earnings (TTM)US$15.92m
Revenue (TTM)US$44.48m


P/E Ratio


P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
SSBI income statement (TTM)
Cost of RevenueUS$0
Gross ProfitUS$44.48m
Other ExpensesUS$28.56m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date


Earnings per share (EPS)2.38
Gross Margin100.00%
Net Profit Margin35.79%
Debt/Equity Ratio76.2%

How did SSBI perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio

Does SSBI pay a reliable dividends?

See SSBI dividend history and benchmarks
When do you need to buy SSBI by to receive an upcoming dividend?
Summit State Bank dividend dates
Ex Dividend DateAug 10 2022
Dividend Pay DateAug 18 2022
Days until Ex dividend1 day
Days until Dividend pay date7 days

Does SSBI pay a reliable dividends?

See SSBI dividend history and benchmarks
We’ve recently updated our valuation analysis.


Is SSBI undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score


Valuation Score 4/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for SSBI?

Other financial metrics that can be useful for relative valuation.

SSBI key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ration/a

Price to Earnings Ratio vs Peers

How does SSBI's PE Ratio compare to its peers?

SSBI PE Ratio vs Peers
The above table shows the PE ratio for SSBI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average10.9x
BOID Bank of Idaho Holding
FDVA Freedom Financial Holdings
UBAB United Bancorporation of Alabama
SBKO Summit Bank Group
SSBI Summit State Bank

Price-To-Earnings vs Peers: SSBI is good value based on its Price-To-Earnings Ratio (6.3x) compared to the peer average (10.9x).

Price to Earnings Ratio vs Industry

How does SSBI's PE Ratio compare vs other companies in the US Banks Industry?

Price-To-Earnings vs Industry: SSBI is good value based on its Price-To-Earnings Ratio (6.3x) compared to the US Banks industry average (9.8x)

Price to Earnings Ratio vs Fair Ratio

What is SSBI's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SSBI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.3x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate SSBI's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of SSBI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: SSBI ($15.01) is trading below our estimate of fair value ($34.97)

Significantly Below Fair Value: SSBI is trading below fair value by more than 20%.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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Future Growth

How is Summit State Bank forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score


Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted Banks industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Summit State Bank has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Discover growth companies

  • Examine whether Summit State Bank is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.

Past Performance

How has Summit State Bank performed over the past 5 years?

Past Performance Score


Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: SSBI has high quality earnings.

Growing Profit Margin: SSBI's current net profit margins (35.8%) are higher than last year (34.9%).

Past Earnings Growth Analysis

Earnings Trend: SSBI's earnings have grown significantly by 31.3% per year over the past 5 years.

Accelerating Growth: SSBI's earnings growth over the past year (21.5%) is below its 5-year average (31.3% per year).

Earnings vs Industry: SSBI earnings growth over the past year (21.5%) exceeded the Banks industry 8.8%.

Return on Equity

High ROE: SSBI's Return on Equity (18.8%) is considered low.

Discover strong past performing companies

Financial Health

How is Summit State Bank's financial position? (This company is analysed differently as a bank or financial institution)

Financial Health Score


Financial Health Score 6/6

  • Asset Level

  • Allowance for Bad Loans

  • Low Risk Liabilities

  • Loan Level

  • Low Risk Deposits

  • Level of Bad Loans

Financial Position Analysis

Debt to Equity History and Analysis

Balance Sheet

Financial Institutions Analysis

Asset Level: SSBI's Assets to Equity ratio (11.6x) is moderate.

Allowance for Bad Loans: SSBI has a sufficient allowance for bad loans (2360%).

Low Risk Liabilities: 91% of SSBI's liabilities are made up of primarily low risk sources of funding.

Loan Level: SSBI has an appropriate level of Loans to Assets ratio (85%).

Low Risk Deposits: SSBI's Loans to Deposits ratio (102%) is appropriate.

Level of Bad Loans: SSBI has an appropriate level of bad loans (0.1%).

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What is Summit State Bank current dividend yield, its reliability and sustainability?

Dividend Score


Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: SSBI's dividend (3.2%) is higher than the bottom 25% of dividend payers in the US market (1.52%).

High Dividend: SSBI's dividend (3.2%) is low compared to the top 25% of dividend payers in the US market (4.08%).

Stability and Growth of Payments

Stable Dividend: SSBI's dividends per share have been stable in the past 10 years.

Growing Dividend: SSBI's dividend payments have increased over the past 10 years.

Current Payout to Shareholders

Earnings Coverage: With its low payout ratio (19.3%), SSBI's dividend payments are well covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years or that it will be covered by earnings.

Discover strong dividend paying companies


How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Brian Reed (63 yo)





Mr. Brian J. Reed has been the President and Chief Executive Officer at Summit State Bank since April 28, 2020 and has been its Director since April 2020. He served as an Executive Vice President and Chief...

CEO Compensation Analysis

Compensation vs Market: Brian's total compensation ($USD646.72K) is about average for companies of similar size in the US market ($USD763.69K).

Compensation vs Earnings: Brian's compensation has increased by more than 20% in the past year.

Leadership Team

Experienced Management: SSBI's management team is seasoned and experienced (5.1 years average tenure).

Board Members

Experienced Board: SSBI's board of directors are seasoned and experienced ( 11.2 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: SSBI insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Company Information

Summit State Bank's employee growth, exchange listings and data sources

Key Information

  • Name: Summit State Bank
  • Ticker: SSBI
  • Exchange: NasdaqGM
  • Founded: 1982
  • Industry: Regional Banks
  • Sector: Banks
  • Implied Market Cap: US$100.386m
  • Shares outstanding: 6.69m
  • Website:

Number of Employees


  • Summit State Bank
  • 500 Bicentennial Way
  • Santa Rosa
  • California
  • 95403
  • United States


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/09 00:00
End of Day Share Price2022/08/09 00:00
Annual Earnings2021/12/31

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.