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Summit State Bank Posts $1.3M Q2 Loss After Loan Charge-Offs

Summit State Bank logoSummit State Bank
Sig2.78Sen-3.85Env0.00Soc0.00Gov0.00

Summit State Bank reported a $1.3 million second-quarter loss after $8.7 million in loan charge-offs and a $5.9 million provision for loan losses. The provision rose 460.5% from the prior quarter. Nonperforming assets fell to $20.8 million but stayed elevated versus a year ago, while interest margin, capital and operating efficiency improved.

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