Summit State Bank Reports Q2 2025 Net Income Surge to $2.4 Million, EPS Up to $0.36
Summit State Bank reported a net income of $2.4 million for Q2 2025, up from $928,000 in Q2 2024, with earnings per share increasing to $0.36. The bank's annualized return on average assets rose to 0.93% and return on average equity to 9.98%. The net interest margin expanded to 3.66%, driven by improved funding costs and higher loan yields. However, net loans decreased by 7% to $851.3 million, and total deposits fell by 5% to $922.6 million. The bank remains optimistic about future margin improvements as loans and deposits reprice.
Summit State Bank reported strong financial results for the second quarter of 2025, with net income reaching $2.4 million, or $0.36 per diluted share, a significant increase from the $928,000, or $0.14 per diluted share, recorded in the same quarter of 2024. The bank achieved an annualized return on average assets of 0.93% and an annualized return on average equity of 9.98%, compared to 0.35% and 3.82%, respectively, in the second quarter of 2024. The bank’s net interest margin expanded to 3.66% in the second quarter of 2025, up from 2.71% in the previous year and 3.19% in the first quarter of 2025. This growth was driven by a favorable shift in funding costs, higher yields in the loan portfolio, and prepayment fees. Strategically managing its loan and deposit portfolios, the bank reduced net loans held for investment by 7% to $851.3 million as of June 30, 2025, compared to a year earlier. Total deposits also decreased by 5% to $922.6 million over the same period. Looking ahead, the bank is optimistic about further improvements in its net interest margin as deposits and loans continue to reprice. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Summit State Bank published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9501815-en) on July 29, 2025, and is solely responsible for the information contained therein. © Copyright 2025 - Public Technologies (PUBT)
