Summit Bank Corporation Announces Quarterly Dividend
04 November 2003 - 2:20AM
PR Newswire (US)
Summit Bank Corporation Announces Quarterly Dividend ATLANTA, Nov.
3 /PRNewswire-FirstCall/ -- Summit Bank Corporation announced a
quarterly dividend of $.13 per share payable to all shareholders of
record on November 17, 2003, to be paid on November 24, 2003.
Summit recently announced record quarterly earnings of $1,227,000
for third quarter 2003 compared to $1,109,000 for the same period
in 2003, an increase of 11%. Earnings per share (diluted) for third
quarter 2003 were $.33 compared to $.30 per share (diluted) for
third quarter 2002. For the nine-month period ended September 30,
2003, Summit also reported record earnings of $3.5 million compared
to $3.0 million for the same period in 2002. Earnings per share
were $.92 for the current nine-month period compared to $.79 last
year. Earnings per share for prior periods have been restated to
reflect the November 2002, two-for-one stock split. Total assets
grew to $456 million at September 30, 2003, an increase of 19% from
September 30, 2002. The Company's wholly-owned subsidiary, The
Summit National Bank, is an Atlanta-based community bank with
full-service operations in the metropolitan areas of Atlanta,
Georgia and the San Francisco Bay area of California. Summit
National Bank's niche specialties include international trade
finance, small business lending and service to various ethnic
markets, including Asian-American, European-American and
Latin-American businesses. Summit provides its diverse customer
base with a multi-lingual staff proficient in over 20 languages.
Summit Bank Corporation stock is listed on the Nasdaq National
Market under the symbol SBGA. DATASOURCE: Summit Bank Corporation
CONTACT: Gary McClung of Summit Bank Corporation, +1-770-454-0400
Web site: http://www.summitbk.com/
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