Summit Bank Group (OTC Pink: SBKO):

• Q2 2022 Net Income - $3.4 million or $0.44 per fully diluted share
• Year to date Net Income - $6.1 million or $0.80 per fully diluted share
• Trailing twelve months Net Income - $12.1 million or $1.58 per fully diluted share
• Year over year Net Loan Growth - $111.8 million or 20.4 percent (excluding PPP loans)
• Minimal remaining PPP loans outstanding - $148 thousand out of $180.9 million total originations
• Year over year Deposit Growth - $132.7 million or 18.2 percent over June 30, 2021

Summit Bank Group reported net income for the second quarter of $3.42 million or 44 cents per fully diluted share. Comparable earnings for the second quarter of 2021 were $2.54 million or 33 cents per fully diluted share, representing an increase of 33 percent to earnings per fully diluted share. Year to date net income for 2022 was $6.15 million or 80 cents per fully diluted share representing an increase of $1.26 million or 26 percent over the similar period during 2021. PPP loan related income in total comprised only 0.1 percent of total Company net interest and non-interest income during the 2nd quarter of 2022 compared to 9.0 percent during Q2 2021.

“We were pleased to achieve strong loan growth in all of our markets, which significantly contributed to the results of the quarter,” said Craig Wanichek, President and CEO. “In addition, we have worked with clients and prospects to manage through a rate period that is unprecedented in recent years.”

Total net loans as of June 30, 2022, were $659.4 million. Net loans excluding PPP loans grew by $25.2 million or 4.0 percent during the second quarter and by $111.8 million or 20.4 percent since June 30, 2021. Deposit growth also remains robust with total deposits increasing by $30.4 million or 3.7 percent during the second quarter and by $132.7 million or 18.2 percent since June 30, 2021. The Bank’s non PPP lending activity during the pandemic has allowed the Company to maintain its strong and consistent profitability with return on average equity of 18.0 percent during Q2 2022 following 14.5 percent during Q1 2022 and 15.8 percent for the 2021 fiscal year. The Company is currently in its 10^th consecutive year producing a return on equity in excess of 10 percent.

“The delivery of tailored, local banking solutions to our clients and our convenient and relationship-based approach are helping Summit grow existing and new relationships,” said Wanichek. “Also, through the end of second quarter, 99.9% of the $181 million in PPP loans Summit Bank provided our clients to help during the pandemic, have received complete loan forgiveness.”

The Company’s strong earnings continue to support asset growth with total shareholders’ equity ending the second quarter at $77.6 million, an increase of $9.5 million or 14.0 percent since June 30, 2021. Liquidity remains extremely healthy with cash and short term investments as of June 30, 2022 at $216.0 million or 32.8 percent of total net loans.

The Bank continues to hold very low levels of non-performing assets with total non-performing assets at June 30, 2022 representing just 0.04 percent of total assets, down from 0.05 percent as of March 31, 2022 and 0.08 percent as of June 30, 2021.

About Summit Bank

Summit Bank Group Inc., through its wholly-owned subsidiary Summit Bank, is a leading independent community bank providing outstanding service to professionals and businesses within various industries including manufacturing, healthcare, public entities, and nonprofits. With offices in Eugene, Central Oregon, and downtown Portland, Summit Bank specializes in high-touch personal banking and local decision-making. Summit Bank Group Inc. is quoted on the NASDAQ Over-the-Counter Bulletin Board as SBKO. In 2021, Summit Bank was named the Top Small Business Administration (SBA) Community Bank Lender in the State of Oregon, and in 2022, has been named to Oregon Business Magazine’s Top 100 Best Places to Work.

SUMMIT BANK GROUP INC. CONSOLIDATED QUARTERLY FINANCIAL REPORT – JUNE 2022

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