Summit State Bank (SSBI)

Summit State Bank Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	53.36	52.56	46.12	40.19	34.63	27.59
Interest Income on Investments	5.5	7.68	2.83	1.78	1.79	2.42
Total Interest Income	58.86	60.24	48.96	41.97	36.43	30
Interest Paid on Deposits	28.51	24.23	4.94	3.21	4.96	6.42
Interest Paid on Borrowings	0.75	0.55	1.59	1.16	1.21	0.6
Total Interest Expense	29.26	24.78	6.53	4.37	6.16	7.03
Net Interest Income	29.6	35.46	42.43	37.61	30.26	22.98
Net Interest Income Growth (YoY)	-23.87%	-16.42%	12.82%	24.27%	31.71%	6.26%
Gain (Loss) on Sale of Investments	-	-	0	0.07	0.87	-0.01
Other Non-Interest Income	0.9	1.85	0.79	0.64	0.66	0.55
Total Non-Interest Income	3.08	5.2	7.5	4.9	4.45	2.66
Non-Interest Income Growth (YoY)	-56.26%	-30.61%	52.93%	10.18%	67.09%	15.29%
Revenues Before Loan Losses	32.68	40.66	49.92	42.51	34.71	25.64
Provision for Loan Losses	1.13	0.33	2.54	1.29	2.1	0.7
Revenue	31.55	40.33	47.38	41.21	32.61	24.94
Revenue Growth (YoY)	-29.67%	-14.88%	14.97%	26.39%	30.76%	6.57%
Salaries and Employee Benefits	15.24	15.38	14.04	12.26	10.69	9.6
Occupancy Expenses	1.26	1.24	1.29	1.24	1.22	1.23
Selling, General & Administrative	1.77	1.77	2.53	1.82	1.21	1.35
Other Non-Interest Expense	6.43	6.66	5.66	5.02	4.55	3.89
Total Non-Interest Expense	24.69	25.05	23.51	20.33	17.67	16.06
EBT Excluding Unusual Items	6.86	15.28	23.87	20.88	14.94	8.88
Pretax Income	6.86	15.28	23.87	20.88	14.94	8.88
Income Tax Expense	2.01	4.46	6.9	6.18	4.42	2.4
Net Income	4.85	10.82	16.97	14.7	10.52	6.48
Net Income to Common	4.85	10.82	16.97	14.7	10.52	6.48
Net Income Growth	-64.01%	-36.22%	15.44%	39.75%	62.37%	11.15%
Basic Shares Outstanding	7	7	7	7	7	7
Diluted Shares Outstanding	7	7	7	7	7	7
Shares Change (YoY)	0.22%	0.16%	0.07%	0.03%	-0.01%	0.03%
EPS (Basic)	0.72	1.62	2.54	2.20	1.58	0.97
EPS (Diluted)	0.72	1.62	2.54	2.20	1.57	0.97
EPS Growth	-64.03%	-36.30%	15.34%	40.13%	61.86%	11.15%
Dividend Per Share	0.400	0.480	0.480	0.480	0.480	0.436
Dividend Growth	-16.67%	0%	0%	0%	9.99%	0%
Effective Tax Rate	29.30%	29.18%	28.91%	29.61%	29.60%	27.02%

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