Summit State Bank Announces Revised Fourth Quarter 2024 Financial Performance Update
Summit State Bank Reports Revised Fourth Quarter 2024 Financial Results
March 28, 2025 - Summit State Bank (OTC: SSBI) today reported revised financial results for the fourth quarter of 2024. The revised results reflect certain adjustments to the Company's financial statements, primarily related to the reclassification of certain assets and liabilities.
"We are pleased to report that our revised financial results for the fourth quarter of 2024 demonstrate continued growth and stability for Summit State Bank," said [Name], President and CEO. "Our revised net income for the quarter was $[X] million, or $[Y] per diluted share, compared to $[Z] million, or $[W] per diluted share, in the prior year period. Our revised total assets for the quarter were $[V] billion, an increase of [U]% from the prior year period."
The revised financial results also reflect certain non-recurring items, including a [$X] million gain on the sale of certain assets and a [$Y] million provision for income taxes.
"We are proud of our team's hard work and dedication to delivering exceptional service to our customers and communities," said [Name]. "As we look to the future, we remain focused on our strategic priorities, including growing our franchise, expanding our digital capabilities, and enhancing our risk management practices."
The revised financial results are as follows:
- Net income: $[X] million
- Net income per diluted share: $[Y]
- Total assets: $[V] billion
- Total deposits: $[T] billion
- Total loans: $[L] billion
- Non-performing assets: [$NA] million
- Allowance for credit losses: [$ACL] million
Summit State Bank's revised financial results are available on the Company's website at [website URL]. A conference call to discuss the results will be held at [time] on [date]. The call can be accessed by dialing [phone number] and providing the conference ID [ID].
About Summit State Bank Summit State Bank is a community-focused financial institution that provides a wide range of banking and financial services to individuals, families, and businesses in [region]. The Company is committed to delivering exceptional customer service, building strong relationships with its customers and communities, and creating long-term value for its shareholders.