Summit State Bank Announces Election of Directors
30 Julho 2013 - 8:00PM
Summit State Bank (Nasdaq:SSBI) today announced the election of
directors. The following were elected directors: Jeffrey B. Allen,
James E. Baxter II, James E. Brush, Josh C. Cox, Jr., John F.
DeMeo, Michael J. Donovan, Richard A. Dorr, Thomas M. Duryea, Todd
R. Fry, Allan J. Hemphill, Samuel G. Kapourales, Ronald A.
Metcalfe, Richard E. Pope, Nicholas J. Rado, Marshall T. Reynolds,
and Eugene W. Traverso. Allan Hemphill has been elected as the
Chairman of the Board.
Mr. Allen, Mr. Kapourales and Mr. Pope are new to the Board as
directors. Mr. Allen and Mr. Pope were nominated at the annual
meeting of shareholders by a shareholder. Mr. Cox was appointed to
the Board as a director after the shareholders approved a proposal
to increase the Board to sixteen members.
About Summit State Bank
Summit State Bank has total assets of $432 million and total
equity of $61 million at June 30, 2013. Headquartered in Sonoma
County, the Bank provides diverse financial products and services
throughout Sonoma, Napa, San Francisco, and Marin Counties. Summit
State Bank received the 2012 Community Bank Award from the American
Bankers Association for its nonprofit work. In addition, Summit has
been recognized as one of the Top 75 Corporate Philanthropists in
the Bay Area by the San Francisco Business Times, with the Gold
Medal award for Best Business Bank from the Northbay Biz Magazine,
and as one of the North Bay's Best Places to Work by the North Bay
Business Journal. Summit has also been consistently recognized as a
high performing bank by Findley Reports. 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.
Forward-looking Statements
Except for historical information contained herein, the
statements contained in this news release, are forward-looking
statements within the meaning of the "safe harbor" provisions of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. This
release may contain forward-looking statements that are subject to
risks and uncertainties. Such risks and uncertainties may include
but are not necessarily limited to fluctuations in interest rates,
inflation, government regulations and general economic conditions,
and competition within the business areas in which the Bank will be
conducting its operations, including the real estate market in
California and other factors beyond the Bank's control. Such
risks and uncertainties could cause results for subsequent interim
periods or for the entire year to differ materially from those
indicated. You should not place undue reliance on the
forward-looking statements, which reflect management's view only as
of the date hereof. The Bank undertakes no obligation to
publicly revise these forward-looking statements to reflect
subsequent events or circumstances.
CONTACT: Dennis Kelley, Chief Financial Officer, 707-568-4910
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