OAKLAND, Calif.--(BUSINESS WIRE)--The Board of Directors of Summit Bancshares Inc., at a meeting held on June 15, 2016, voted to increase the regular semi-annual dividends from $0.11 per share to $0.13 per share beginning August 31, 2016.
Summit Bank opened July 1982 and has maintained profitability since August 1982, which is 407 consecutive months of profitability.
The Board of Directors is pleased that the bank continues to receive recognition for its outstanding performance. The most recent recognition in April 2016 came from American Banker placing Summit Bank among the top 200 banks in the country based on 3-Year average ROA and ROE. Summit Bank has also been recognized by the distinguished Findley Reports as a Super Premier Bank for 2015. The bank has received recognition by Findley Reports on annual basis for the last 32 years. Bauer Financial has also rated Summit Bank with 5-Stars recognizing it as one of the strongest financial institutions in the country.
Summit Bancshares, Inc., (OTC Bulletin Board: SMAL is the parent company of Summit Bank).