EUGENE, Ore., October 19, 2009 – Summit Bank completed the quarter with solid operating results. As of September 30, 3009, total assets were $116.5 million, an increase of $10.0 million, or 9.5 percent, as compared to September 30, 2008. Net loan growth over the same period was $9 million, or 10.8 percent. The Bank’s total deposits increased by $8 million, or 8.9 percent over the last 12 months, with more than half of that growth in core business checking accounts.

“We are pleased with our results given this turbulent economic environment,” said Ann Marie Mehlum, president and CEO. “However, as much as we would like to see a stronger economy, data continues to suggest more difficulties lie ahead and the future recovery will be slow.”

Summit continued to report earnings progress. Net income for the nine months ended September 30, 2009, was $362,000 up 13.5% as compared to $319,000 for the same period last year. These results were achieved despite significant increases in FDIC insurance premiums and additional provisions for potential future loan losses

Summit Bank is quoted on the NASDAQ Over-the-Counter Bulletin Board as SBKO. Founded in 2004, Summit was Eugene/Springfield’s first new bank in more than 25 years. Headquartered in Eugene at 96 E. Broadway, the Bank is one of the region’s most successful community banks, specializing in providing high-level financial service to professionals and local businesses.