NasdaqGM:SSBI

Stock Analysis Report

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Executive Summary

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


Snowflake Analysis

Flawless balance sheet with solid track record and pays a dividend.


Similar Companies

Share Price & News

How has Summit State Bank's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: SSBI has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

3.4%

SSBI

3.9%

US Banks

-0.4%

US Market


1 Year Return

-4.0%

SSBI

-26.3%

US Banks

18.3%

US Market

Return vs Industry: SSBI exceeded the US Banks industry which returned -26.3% over the past year.

Return vs Market: SSBI underperformed the US Market which returned 18.3% over the past year.


Shareholder returns

SSBIIndustryMarket
7 Day3.4%3.9%-0.4%
30 Day9.4%12.0%6.6%
90 Day30.6%5.4%8.6%
1 Year0.2%-4.0%-23.6%-26.3%21.0%18.3%
3 Year5.9%-5.9%-16.3%-23.3%42.1%32.7%
5 Year31.7%9.3%21.9%6.8%85.6%64.7%

Price Volatility Vs. Market

How volatile is Summit State Bank's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Summit State Bank undervalued compared to its fair value and its price relative to the market?

8.56x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: SSBI ($12) is trading above our estimate of fair value ($10.99)

Significantly Below Fair Value: SSBI is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: SSBI is good value based on its PE Ratio (8.6x) compared to the US Banks industry average (10.2x).

PE vs Market: SSBI is good value based on its PE Ratio (8.6x) compared to the US market (19.2x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate SSBI's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: SSBI is overvalued based on its PB Ratio (1x) compared to the US Banks industry average (0.8x).


Next Steps

Future Growth

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

15.3%

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.


Next Steps

Past Performance

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

4.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SSBI has high quality earnings.

Growing Profit Margin: SSBI's current net profit margins (29.8%) are higher than last year (22.3%).


Past Earnings Growth Analysis

Earnings Trend: SSBI's earnings have grown by 4.4% per year over the past 5 years.

Accelerating Growth: SSBI's earnings growth over the past year (62.8%) exceeds its 5-year average (4.4% per year).

Earnings vs Industry: SSBI earnings growth over the past year (62.8%) exceeded the Banks industry -3.2%.


Return on Equity

High ROE: SSBI's Return on Equity (12%) is considered low.


Next Steps

Financial Health

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


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: SSBI's Assets to Equity ratio (11.9x) is moderate.

Allowance for Bad Loans: SSBI has a sufficient allowance for bad loans (1936%).

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 (83%).

Low Risk Deposits: SSBI's Loans to Deposits ratio (99%) is appropriate.

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


Next Steps

Dividend

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

4.00%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: SSBI's dividend (4%) is higher than the bottom 25% of dividend payers in the US market (1.63%).

High Dividend: SSBI's dividend (4%) is low compared to the top 25% of dividend payers in the US market (4.56%).


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

Dividend Coverage: With its reasonably low payout ratio (34.2%), 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 and that it will be covered by earnings.


Next Steps

Management

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

2.8yrs

Average management tenure


CEO

Brian Reed (61 yo)

0.50

Tenure

US$304,730

Compensation

Mr. Brian J. Reed has been the President and Chief Executive Officer at Summit State Bank since April 27, 2020 and its Director since April 2020. He served as Executive Vice President and Chief Credit Offi ...


CEO Compensation Analysis

Compensation vs Market: Brian's total compensation ($USD304.73K) is below average for companies of similar size in the US market ($USD579.76K).

Compensation vs Earnings: Brian's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Brian Reed
President0.50yrUS$304.73k1.58%
$ 1.2m
Brandy A. Seppi
Executive VP & Chief Lending Officer3.83yrsUS$307.37k0.051%
$ 37.2k
Camille Kazarian
Executive VP & CFO0.83yrUS$156.48k0.0099%
$ 7.2k
Genie Del Secco
Executive VP & COO1.75yrsUS$279.74k0.11%
$ 78.0k
Elaina Hunt
Vice President of Marketing & Community Relations7yrsno datano data
Wayne Hoffer
Senior Vice President9yrsno datano data
Karen Holloway
Senior Vice President4.17yrsno datano data
Michael Castlio
Senior VP & Chief Credit Officer0.75yrno datano data
Barbara Gradman
Corporate Secretaryno datano datano data
Patty Hoagland
Director of Information Servicesno datano datano data

2.8yrs

Average Tenure

48yo

Average Age

Experienced Management: SSBI's management team is considered experienced (2.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Brian Reed
President0.50yrUS$304.73k1.58%
$ 1.2m
Marshall Reynolds
Independent Director22.75yrsUS$28.10k12.47%
$ 9.1m
Todd Fry
Independent Director20.75yrsUS$30.50k0.13%
$ 93.0k
Eugene Traverso
Member of Advisory Boardno dataUS$12.40kno data
John DeMeo
Chairman of Advisory Board Memberno dataUS$13.20kno data
Nicholas Rado
Independent Director11.67yrsUS$45.30k0.22%
$ 163.0k
James Brush
Chairman of the Board0.33yrUS$380.87k2.24%
$ 1.6m
Josh Cox
Independent Director9.33yrsUS$50.50k0.00020%
$ 145.7
Jeffery Allen
Independent Director7.25yrsUS$39.30k0.26%
$ 186.4k
Richard Pope
Independent Director7.75yrsUS$39.70kno data
John Wright
Independent Director6.25yrsUS$42.10k0.23%
$ 168.0k
George Christie
Member of Advisory Boardno datano datano data

7.8yrs

Average Tenure

69yo

Average Age

Experienced Board: SSBI's board of directors are considered experienced (7.8 years average tenure).


Ownership

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 company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Summit State Bank
  • Ticker: SSBI
  • Exchange: NasdaqGM
  • Founded: 1982
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$72.835m
  • Shares outstanding: 6.07m
  • Website: https://www.summitstatebank.com

Number of Employees


Location

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

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SSBINasdaqGM (Nasdaq Global Market)YesCommon SharesUSUSDJul 2006

Biography

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 ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/24 23:54
End of Day Share Price2020/10/23 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.