Summit State Bank (SSBI)

Summit State Bank Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	53.57	52.56	46.12	40.19	34.63
Interest Income on Investments	5.19	7.68	2.83	1.78	1.79
Total Interest Income	58.76	60.24	48.96	41.97	36.43
Interest Paid on Deposits	28.5	24.23	4.94	3.21	4.96
Interest Paid on Borrowings	0.79	0.55	1.59	1.16	1.21
Total Interest Expense	29.29	24.78	6.53	4.37	6.16
Net Interest Income	29.48	35.46	42.43	37.61	30.26
Net Interest Income Growth (YoY)	-16.88%	-16.42%	12.82%	24.27%	31.71%
Gain (Loss) on Sale of Investments	0.01	-	0	0.07	0.87
Other Non-Interest Income	1.11	1.85	0.79	0.64	0.66
Total Non-Interest Income	4.15	5.2	7.5	4.9	4.45
Non-Interest Income Growth (YoY)	-20.17%	-30.61%	52.93%	10.18%	67.09%
Revenues Before Loan Losses	33.63	40.66	49.92	42.51	34.71
Provision for Loan Losses	7.85	0.33	2.54	1.29	2.1
Revenue	25.78	40.33	47.38	41.21	32.61
Revenue Growth (YoY)	-36.07%	-14.88%	14.97%	26.39%	30.76%
Salaries and Employee Benefits	15.64	15.38	14.04	12.26	10.69
Occupancy Expenses	1.76	1.24	1.29	1.24	1.22
Selling, General & Administrative	-	1.77	2.53	1.82	1.21
Other Non-Interest Expense	7.89	6.66	5.66	5.02	4.55
Total Non-Interest Expense	25.29	25.05	23.51	20.33	17.67
EBT Excluding Unusual Items	0.49	15.28	23.87	20.88	14.94
Pretax Income	-3.63	15.28	23.87	20.88	14.94
Income Tax Expense	0.03	4.46	6.9	6.18	4.42
Net Income	-3.66	10.82	16.97	14.7	10.52
Net Income to Common	-3.66	10.82	16.97	14.7	10.52
Net Income Growth	-	-36.22%	15.44%	39.75%	62.37%
Basic Shares Outstanding	7	7	7	7	7
Diluted Shares Outstanding	7	7	7	7	7
Shares Change (YoY)	0.24%	0.16%	0.07%	0.03%	-0.01%
EPS (Basic)	-0.54	1.62	2.54	2.20	1.58
EPS (Diluted)	-0.54	1.62	2.54	2.20	1.57
EPS Growth	-	-36.30%	15.34%	40.13%	61.86%
Dividend Per Share	0.280	0.480	0.480	0.480	0.480
Dividend Growth	-41.67%	0%	0%	0%	9.99%
Effective Tax Rate	-	29.18%	28.91%	29.61%	29.60%

Source: S&P Capital IQ. Banks template. Financial Sources.