Monday, March 10, 2014 9:49:24 PM
EUGENE, Ore. --(BUSINESS WIRE)-- Summit Bank (OTCBB:SBKO) announced today that its Board of Directors has unanimously approved a two for one stock split of the companys shares of common stock payable in the form of a stock dividend. The ex-dividend date will be April 4, 2014 , and shareholders of record as of April 9, 2014 will receive one additional share for every share they own.
Given Summits strong financial results for 2013 and the increase in our stock price, the Board reviewed a number of alternatives to thank our shareholders for their support over the years, said Craig Wanichek , president and chief executive officer. We believed the time was right for a one-time split to reward existing shareholders and increase the stocks marketability by making it attractive to a larger number of potential investors.
Summit Bank reported net interest income and non-interest income of $7.4 million for the fiscal year ending December 31, 2013 , up 46.8% from $5.0 million in 2012. Net income for the year was $1.4 million or $1.39 per fully diluted share up 120.6% from 2012.
Headquartered in Eugene at 96 E. Broadway , the Bank specializes in providing high-level service to professionals and to local businesses and their owners. Summit Bank is quoted on the NASDAQ Over-the-Counter Bulletin Board as SBKO.
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM