Summit State Bank (SSBI) Declares $0.12 Quarterly Dividend; 3.6% Yield

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Go back to Summit State Bank (SSBI) Declares $0.12 Quarterly Dividend; 3.6% Yield

Summit State Bank Reports 8% Increase in Profitability and Declaration of Dividend

October 22, 2015 9:03 AM EDT

SANTA ROSA, Calif., Oct. 22, 2015 (GLOBE NEWSWIRE) -- Summit State Bank (Nasdaq: SSBI) today reported net income for the quarter ended September 30, 2015 of $1,280,000, an 8% increase over the quarter ended September 30, 2014. A quarterly dividend of $0.12 per share was declared for common shareholders.

Dividend

The Board of Directors declared a $0.12 per share quarterly dividend to be paid on November 25, 2015 to shareholders of record on November 17, 2015.

Net Income and Results of Operations

The Bank had net income of $1,280,000 and net income available for common stockholders of $1,257,000, or $0.26 per diluted share, for the third quarter ended... More