Summit Bank Launches SBA Division and Hires Additional Professionals

Summit Bank (OTCBB:SBKO) today announced the launching of a dedicated Small Business Administration (SBA) Division. The SBA Division will increase the Bank’s focus on facilitating the SBA 7(a) program to community businesses for business acquisition, expansion and real estate purchases.

“Being a community bank, it is important we offer the 7(a) program in an expedited and efficient manner to our local and surrounding communities,” said Craig Wanichek, Summit Bank president and chief executive officer. “While we have been offering 7(a) loans over the past 10 years, we believe this focused effort will enhance our ability to assist businesses fund expansions and to purchase both real estate and equipment with the backing of a government guarantee.”

The Summit Bank SBA Division will be led by Ashley Horner. Horner has several years’ experience strategically structuring and underwriting small business loans. “Summit Bank has a strong track record of supporting small- and medium-sized businesses in our community,” said Horner. “I am very passionate about the SBA 7(a) program and believe it will expand our ability to help these businesses be successful.”

Summit Bank is also pleased to announce the hiring of Carolyn Cole, Vice President, Business Client Advisor, and Erik L. Riechers, Vice President, Business Client Advisor. Cole has over 30 years of commercial relationship building experience with community-based banks in St. Thomas, Virgin Islands, and Eugene, Oregon. Riechers also has over 30 years of commercial banking experience and has spent the past 25 years in the Eugene/Springfield area. Riechers has recently served as the board chair for Kids’ FIRST and is active in several other local nonprofits.

“We are pleased Carolyn and Erik have joined Summit Bank to continue their reputation of being trusted advisors and advocates for their clients,” stated Wanichek. “Our recent growth and continued positive outlook made it essential for us to add these two new positions.”

Headquartered in Eugene, OR, at 96 E. Broadway, the Bank specializes in providing high-level service to professionals and to medium-sized businesses and their owners. Summit Bank common stock is quoted on the NASDAQ Over-the-Counter Bulletin Board under the symbol SBKO.

Summit BankCraig Wanichek, 541-684-7533

Summit Bank (PK) (USOTC:SBKO)
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