Summit State Bank Donates $258,275 to Sonoma County Nonprofits
Santa Rosa, CA – (March 14, 2016) – Summit State Bank (NASDAQ: SSBI) delivered 154 donation checks so far this year totaling more than $258,275 or 4.3% of its net profit after taxes to its nonprofit customers through its Nonprofit Partner Donation Program.
Summit’s Nonprofit Partner Donation Program provides an annual cash donation to its nonprofit customers based on average annual account balances. This donation is above and beyond normal community giving, sponsorships and volunteering Summit provides during the year.
“We are very proud of the relationships we have built with our Nonprofit Partners, and our customers share in that pride knowing that 100% of their deposits are reinvested back into our local community to support local jobs, small businesses, and importantly, many vital nonprofits. Building a better Sonoma County, that’s our business,” said Tom Duryea, President and CEO.
Recipients include: Community Child Care Council of Sonoma County, Friend’s House, Farm to Pantry, Healthcare Foundation Northern Sonoma County, PEP Housing, Petaluma Health Center, Santa Rosa Community Health Centers and Valley of the Moon Children’s Foundation.
About Summit State Bank
Summit State Bank, a local community bank, has total assets of $513 million and total equity of $57 million at December 31, 2015. Headquartered in Sonoma County, the Bank specializes in providing exceptional customer service and customized financial solutions to aid in the success of local small businesses and nonprofits throughout Sonoma, Napa, San Francisco, and Marin Counties.
Summit State Bank's workforce resembles the diverse community it serves. Presently, 80% of management are women and minorities with 50% represented on the Executive Management Team. Through the inclusion and engagement of its workforce, Summit State Bank has earned many prestigious awards including: Best Company to do Business with in Sonoma County by the Northbay Biz Magazine; Best Places to Work in the North Bay by the North Bay Business Journal; Super Performing Bank by Findley Reports; and Top 75 Corporate Philanthropists in the San Francisco Bay Area by the San Francisco Business Times. Summit State Bank's stock is traded on the Nasdaq Global Market under the symbol SSBI. Further information can be found at www.summitstatebank.com.
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