| Business Summary | | Summit
Bank
Corporation
is
the
bank
holding
company
of
Summit
National
Bank
(the
Bank).
The
Bank
engages
in
commercial
banking
from
its
main
office
and
three
branch
offices,
all
of
which
are
located
in
its
primary
service
area
of
northern
metropolitan
Atlanta,
Georgia.
The
Bank
has
an
additional
fourth
branch
office
in
San
Jose,
California.
The
Bank
seeks
to
serve
four
principal
markets:
individuals,
professionals,
and
small
to
medium-sized
businesses
in
the
Bank's
primary
service
areas;
ethnic
communities,
comprised
principally
of
Asian
and
Latin
Americans,
in
the
Bank's
primary
service
areas,
including
businesses
operated
by
members
of
such
communities;
individuals,
professionals
and
businesses,
in
the
primary
service
areas,
requiring
the
international
financial
transaction
services
offered
by
the
Bank;
and
foreign
corporations
and
individuals,
requiring
specialized
banking
services
(international
private
banking),
in
the
Atlanta
and
San
Jose
metropolitan
areas. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | SBGA
is
a
bank
holding
company
for
Summit
National
Bank,
a
commercial
bank,
which
offers
a
full
range
of
deposit
services.
For
the
six
months
ended
6/30/01,
interest
income
rose
9%
to
$12.3
million.
Net
interest
income
after
loan
loss
prov.
fell
5%
to
$6.1
million.
Net
income
fell
27%
to
$1.4
million.
Net
interest
income
reflects
increased
loan
volume,
offset
by
higher
time
deposit
rates.
Earnings
reflect
higher
salaries
and
employee
benefits. | More
from
Market Guide: Significant
Developments |
| | | | FY1999 Pay | |
| Jack Halpern, 50 Chairman | -- | Pin Chau, 60 CEO,
Director | $164K | David Yu, 49 Pres,
Director | 123K | Gerald Allison, 62 Vice
Chairman | -- | Gary McClung, 44 Exec.
VP, CFO and Sec. | 101K | Dollar amounts are as of 31-Dec-1999 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|