Press Release

Summit Bank Announces Formation of Municipal Banking Group & Director

Company Release - 10/23/2017 7:45 PM ET

EUGENE, Ore.--(BUSINESS WIRE)-- Craig Wanichek, president and chief executive officer of Summit Bank (Nasdaq: SBKO), today announced the formation of a Municipal Banking Group. Mike Mercer has been selected to lead the Group, which develops comprehensive, customized solutions to help public entities meet their goals through credit issuance, efficient funds management and providing safe and sound depository services.

“Our focus for Municipal Banking is the same focus we have throughout Summit: to build relationships and partner with clients to provide resources and help them succeed,” said Wanichek. “We look forward to offering municipal communities, many of which are in rural and underserved areas, with a viable community banking alternative for banking and financing options.”

As a banker with a 30-year history in commercial lending and executive management, Mercer brings knowledge and depth to the Group. “Our goal is to partner with clients in the Pacific Northwest. As a community bank, we can relate to small and medium-size public entities where relationships matter,” said Mercer. “What Summit offers is responsive decision making, fast turnaround and customized solutions. We understand the challenges and needs of municipalities and governments and provide them with the tools they need to successfully navigate through purchases and refinances.”

Summit Bank’s Municipal Banking Group offers full-service banking to Cities, Counties, Fire Districts, Ports, School Districts and other special-purpose districts in the Pacific Northwest.

With offices in Eugene and Bend, Summit Bank is a community bank that specializes in providing high-level service to professionals and medium-sized businesses and their owners. Summit Bank is quoted on the NASDAQ Over-the-Counter Bulletin Board as SBKO. Summit is the number one community bank lender in Oregon for SBA Financing. Summit Bank is designated this year as a 100 Best Company to Work for in Oregon, according to Oregon Business Magazine. Most recently, the bank was named a finalist for the Bold Steps Award, which recognizes local sustainable businesses and represents a partnership between the City of Eugene, the Mayor and BRING.

Summit Bank
Craig Wanichek, 541-684-7500
President & Chief Executive Officer

Source: Summit Bank