NasdaqGM:SSBI

Stock Analysis Report

Executive Summary

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

Snowflake

Fundamentals

Flawless balance sheet established dividend payer.


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


Market Performance


7 Day Return

1.1%

SSBI

2.7%

US Banks

0.5%

US Market


1 Year Return

-14.1%

SSBI

2.9%

US Banks

6.8%

US Market

Return vs Industry: SSBI underperformed the US Banks industry which returned 2.9% over the past year.

Return vs Market: SSBI underperformed the US Market which returned 6.8% over the past year.


Shareholder returns

SSBIIndustryMarket
7 Day1.1%2.7%0.5%
30 Day-0.6%1.1%-0.8%
90 Day2.8%2.7%-0.9%
1 Year-10.6%-14.1%5.8%2.9%9.2%6.8%
3 Year24.9%12.0%52.0%41.5%45.6%36.2%
5 Year40.2%17.2%69.2%50.7%63.2%45.4%

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?

14.14x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: SSBI ($12.17) is trading above our estimate of fair value ($10.24)

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


Price To Earnings Ratio

PE vs Industry: SSBI is poor value based on its PE Ratio (14.1x) compared to the Banks industry average (12.5x).

PE vs Market: SSBI is good value based on its PE Ratio (14.1x) compared to the US market (17.7x).


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 good value based on its PB Ratio (1.1x) compared to the US Banks industry average (1.2x).


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?

6.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SSBI's forecast earnings growth (6.2% per year) is above the savings rate (2.7%).

Earnings vs Market: SSBI's earnings (6.2% per year) are forecast to grow slower than the US market (14.6% per year).

High Growth Earnings: SSBI's earnings are forecast to grow, but not significantly.

Revenue vs Market: Insufficient data to determine if SSBI's revenue is forecast to grow faster than the US market.

High Growth Revenue: Insufficient data to determine if SSBI's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if SSBI's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

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

-2.7%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: SSBI's earnings have declined by -2.7% per year over the past 5 years.

Accelerating Growth: SSBI's earnings growth over the past year (11.6%) exceeds its 5-year average (-2.7% per year).

Earnings vs Industry: SSBI earnings growth over the past year (11.6%) underperformed the Banks industry 29.7%.


Return on Equity

High ROE: SSBI's Return on Equity (8.1%) is considered low.


Return on Assets

ROA vs Industry: SSBI's Return on Assets is below or equal to the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate SSBI's Return on Capital Employed to determine if it has improved over the past 3 years.


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

Inventory Level: SSBI has a low level of unsold assets or inventory.

Debt Coverage by Assets: SSBI's debt is not covered by short term assets (assets are 0.4x debt).


Financial Institutions Analysis

Asset Level: SSBI's level of assets compared to its equity is low.

Allowance for Bad Loans: SSBI has a sufficient allowance for bad loans.

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

Loan Level: SSBI has an acceptable proportion of non-loan assets held.

Low Risk Deposits: SSBI's loans are broadly funded by customer deposits.

Level of Bad Loans: SSBI has an appropriate level of bad loans (0.13%)


Next Steps

Dividend

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

3.94%

Current Dividend Yield


Dividend Yield vs Market

company3.9%marketbottom25%1.4%markettop25%3.7%industryaverage3.0%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: SSBI's dividend (3.94%) is higher than the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: SSBI's dividend (3.94%) is in the top 25% of dividend payers in the US market (3.73%)

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 reasonable payout ratio (55.8%), SSBI's dividend payments are 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

What is the CEO of Summit State Bank's salary, the management and board of directors tenure and is there insider trading?

3.0yrs

Average management tenure


CEO

Jim Brush (66yo)

3.5yrs

Tenure

US$446,394

Compensation

Mr. James E. Brush, also known as Jim, has been the Chief Executive Officer and President of Summit State Bank since April 18, 2016. Mr. Brush has also been a Director of Summit State Bank since August 3,  ...


CEO Compensation Analysis

Compensation vs. Market: Jim's total compensation ($USD446.39K) is about average for companies of similar size in the US market ($USD503.30K).

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


Management Age and Tenure

3.0yrs

Average Tenure

50yo

Average Age

Experienced Management: SSBI's management team is considered experienced (3 years average tenure).


Board Age and Tenure

9.5yrs

Average Tenure

72.5yo

Average Age

Experienced Board: SSBI's board of directors are considered experienced (9.5 years average tenure).


Insider Trading

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


Recent Insider Transactions

BuyUS$16,60601 Aug 19
James Brush
EntityIndividual
Role
Chief Executive Officer
President
Shares1,360
Max PriceUS$12.21
BuyUS$56,35901 Aug 19
James Brush
EntityIndividual
Role
Chief Executive Officer
President
Shares4,631
Max PriceUS$12.17
BuyUS$92203 Jun 19
James Brush
EntityIndividual
Role
Chief Executive Officer
President
Shares81
Max PriceUS$11.38
BuyUS$5,76328 May 19
John Wright
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares500
Max PriceUS$11.63
BuyUS$5,71122 May 19
Genie Del Secco
EntityIndividual
Role
Chief Operating Officer
Executive VP & COO
Shares500
Max PriceUS$11.49
BuyUS$7,95708 May 19
Nicholas Rado
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares700
Max PriceUS$11.38
BuyUS$189,80010 Apr 19
Allan Hemphill
EntityIndividual
Role
Chairman of the Board
Chairman of the Board
Shares15,184
Max PriceUS$12.50
SellUS$62,00021 Feb 19
Dennis Kelley
EntityIndividual
Shares5,000
Max PriceUS$12.40
SellUS$121,54511 Feb 19
Dennis Kelley
EntityIndividual
Shares9,802
Max PriceUS$12.40
SellUS$2,45508 Feb 19
Dennis Kelley
EntityIndividual
Shares198
Max PriceUS$12.40
BuyUS$5,97129 Nov 18
Genie Del Secco
EntityIndividual
Role
Chief Operating Officer
Executive VP & COO
Shares500
Max PriceUS$11.94
BuyUS$24,30028 Nov 18
James Brush
EntityIndividual
Role
Chief Executive Officer
President
Shares2,000
Max PriceUS$12.15
SellUS$159,56028 Nov 18
Marshall Reynolds
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares13,112
Max PriceUS$12.17
BuyUS$12,52428 Nov 18
John Wright
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,000
Max PriceUS$12.94
SellUS$112,63419 Nov 18
Marshall Reynolds
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares9,129
Max PriceUS$12.34
BuyUS$40,26919 Nov 18
James Brush
EntityIndividual
Role
Chief Executive Officer
President
Shares3,100
Max PriceUS$12.99
BuyUS$49,00019 Nov 18
Jeffery Allen
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares4,000
Max PriceUS$12.25
SellUS$34,20316 Nov 18
Marshall Reynolds
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares2,631
Max PriceUS$13.00
BuyUS$31,22616 Nov 18
James Brush
EntityIndividual
Role
Chief Executive Officer
President
Shares2,402
Max PriceUS$13.00
BuyUS$2,46415 Nov 18
James Brush
EntityIndividual
Role
Chief Executive Officer
President
Shares191
Max PriceUS$12.90
SellUS$133,14015 Nov 18
Marshall Reynolds
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares10,225
Max PriceUS$13.02
BuyUS$92,63814 Nov 18
Allan Hemphill
EntityIndividual
Role
Chairman of the Board
Chairman of the Board
Shares7,000
Max PriceUS$13.23
SellUS$2,60014 Nov 18
Marshall Reynolds
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares200
Max PriceUS$13.00
BuyUS$5,25013 Nov 18
James Brush
EntityIndividual
Role
Chief Executive Officer
President
Shares407
Max PriceUS$12.90
SellUS$94,26213 Nov 18
Marshall Reynolds
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares7,152
Max PriceUS$13.19
BuyUS$13,10009 Nov 18
James Brush
EntityIndividual
Role
Chief Executive Officer
President
Shares1,000
Max PriceUS$13.10
BuyUS$12,05009 Nov 18
John Wright
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares900
Max PriceUS$13.50
BuyUS$9,27507 Nov 18
James Brush
EntityIndividual
Role
Chief Executive Officer
President
Shares700
Max PriceUS$13.25
BuyUS$12,25330 Oct 18
James Brush
EntityIndividual
Role
Chief Executive Officer
President
Shares886
Max PriceUS$13.83

Ownership Breakdown


Management Team

  • Wayne Hoffer

    Senior Vice President

    • Tenure: 8yrs
  • Jim Brush (66yo)

    President

    • Tenure: 3.5yrs
    • Compensation: US$446.39k
  • Elaina Hunt

    Vice President of Marketing & Community Relations

    • Tenure: 6yrs
  • Brian Reed (60yo)

    Executive VP & Chief Credit Officer

    • Tenure: 2.8yrs
    • Compensation: US$323.21k
  • Brandy A. Seppi (44yo)

    Executive VP & Chief Lending Officer

    • Tenure: 2.8yrs
    • Compensation: US$329.97k
  • Barbara Gradman

    Corporate Secretary

    • Tenure: 0yrs
  • Karen Holloway

    Senior Vice President

    • Tenure: 3.2yrs
  • Genie Del Secco (50yo)

    Executive VP & COO

    • Tenure: 1.8yrs
    • Compensation: US$279.74k
  • Patty Hoagland

    Director of Information Services

    • Tenure: 0yrs
  • Camille Kazarian (40yo)

    Executive VP & CFO

    • Tenure: 0.8yrs
    • Compensation: US$156.48k

Board Members

  • Marshall Reynolds (82yo)

    Independent Director

    • Tenure: 21.8yrs
    • Compensation: US$30.09k
  • Todd Fry (53yo)

    Independent Director

    • Tenure: 19.8yrs
    • Compensation: US$34.79k
  • Eugene Traverso (80yo)

    Member of Advisory Board

    • Tenure: 0yrs
    • Compensation: US$12.40k
  • John DeMeo (84yo)

    Chairman of Advisory Board Member

    • Tenure: 0yrs
    • Compensation: US$14.80k
  • Allan Hemphill (80yo)

    Chairman of the Board

    • Tenure: 8.3yrs
    • Compensation: US$90.79k
  • Nick Rado (68yo)

    Independent Director

    • Tenure: 10.7yrs
    • Compensation: US$47.99k
  • Jim Brush (66yo)

    President

    • Tenure: 3.5yrs
    • Compensation: US$446.39k
  • Josh Cox (77yo)

    Independent Director

    • Tenure: 8.3yrs
    • Compensation: US$54.44k
  • Jeffery Allen (59yo)

    Independent Director

    • Tenure: 6.3yrs
    • Compensation: US$41.99k
  • John Wright (68yo)

    Independent Director

    • Tenure: 5.3yrs
    • Compensation: US$43.99k

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$72.198m
  • Shares outstanding: 5.93m
  • 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 Analysis2019/10/21 23:59
End of Day Share Price2019/10/21 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.