StocksMedium•27 October 2026•
1 min read
Summit State Bank Reports Q3 Net Loss on Higher Credit Provisions
Key Facts
1Summit State Bank reported a net loss of $1,098,000, or $0.16 per diluted share, for the third quarter of 2026.
2Results were negatively impacted by a $5,688,000 provision for credit losses on loans.
Summit State Bank reported a net loss of $1,098,000, or $0.16 per diluted share, for the third quarter of 2026. GlobeNewswire reported that the financial results were negatively impacted by a $5,688,000 provision for credit losses on loans.
SSBI closed at $12 on October 26, 2026, prior to the release of results indicating a shift in asset quality. The loss followed a review of higher-risk credits and updated collateral valuations, which resulted in $507,000 in gross charge-offs according to the bank's statement.