Summit Bank
Burlington, WA — Non-member Bank
Acquired May 2011
Vitals
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Total Assets142.7M -7.2 %
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Total Deposits
-
Total Net Loans105.8M -12.9 %
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Net Income
-
Book Value2.7M -81.8 %
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Book Value x25.4M -81.8 %
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Book Value x38.1M -81.8 %
Balance Sheet Highlights
| Financial Highlights | Summit Bank | All Insured Commercial Banks in Washington |
| Balance Sheet $(000) | ||
| Total Assets | 142,729 | 1,042,984 |
| Total Net Loans | 105,756 | 711,392 |
| Total Deposits | — | 865,866 |
| Total Equity | — | 118,132 |
| Profitability | ||
| Net Income | — | 7,757 |
| Return on Average Assets | — | .873 |
| Return on Average Equity | — | 7.851 |
| Net Interest Margin | — | 3.816 |
| Efficiency Ratio | — | 70.878 |
| Noninterest Income/Revenue | — | 18.544 |
| Balance Sheet Ratios | ||
| Loan-to-Deposit | — | 78.844 |
| Securities/Assets | .154 | |
| Total Equity/Total Assets | .113 | |
| Tangible Equity/Tangible Assets | .019 | .101 |
| Capital Adequacy | ||
| Tier 1 Common Capital | — | 100,137 |
| Tier 1 Capital | — | 100,137 |
| Tier 2 Capital | — | 8,426 |
| Total Capital | — | 108,563 |
| Total Risk Weighted Assets | — | 799,499 |
| Leverage Ratio | — | 10.402 |
| Common Equity Tier 1 Capital Ratio | — | 14.275 |
| Tier 1 Capital Ratio | — | 14.275 |
| Total Capital Ratio | — | 15.434 |
Timeline for Summit Bank
Columbia State Bank
Summit Bank was acquired by Columbia State Bank 13 years
View Profile May 21 2011
Summit Banking Company
Summit Banking Company became a new parent organization for Summit Bank.
View Profile Jan 01 2009
Summit Bank
Summit Bank was established 110 years ago and is currently headquartered in Burlington, WA.
Jan 01 1914| Acquisitions & Mergers | Role | Assets | Acct Method | Type | Transaction Date |
| Columbia State Bank | Buyer | 9,578,898 | Failure | 5/21/2011 |
| Relationships | Role | Relationship Start | Relationship End |
| Summit Banking Company | Parent | 1/1/2009 | 5/20/2011 |
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