| Business Summary | | Summit
Bancshares,
Inc.
is
a
bank
holding
company
that
owns
all
of
the
issued
and
outstanding
shares
of
capital
stock
of
two
national
banking
associations,
Summit
National
Bank
and
Summit
Community
Bank,
N.A.
(the
Subsidiary
Banks)
and
a
non-bank
subsidiary,
Summit
Bancservices,
Inc.
The
Company
provides
advice
and
services
to
the
Subsidiary
Banks
and
coordinates
their
activities
in
the
areas
of
financial
accounting
controls
and
reports,
internal
audit
programs,
regulatory
compliance,
financial
planning
and
employee
benefit
programs.
The
services
offered
by
the
Subsidiary
Banks
are
generally
those
offered
by
commercial
banks
of
comparable
size
in
their
respective
areas.
The
Subsidiary
Banks
provide
general
commercial
banking
services
for
corporate
and
other
business
clients
principally
located
in
Tarrant
County,
Texas. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | SBIT
is
a
bank
holding
company,
for
Summit
National
Bank,
Summit
Community
Bank,
and
Summit
Bancservices.
For
the
six
months
ended
6/30/01,
total
interest
income
rose
4%
to
$23.6
million.
Net
interest
income
after
loan
loss
provision
rose
12%
to
$14
million.
Net
income
rose
18%
to
$4.5
million.
Net
interest
income
reflects
loan
growth,
and
decreased
loan
loss
provisions.
Earnings
also
reflect
increased
service
charges
and
fees. | More
from
Market Guide: Significant
Developments |
| | | | FY2000
Compensation | | Pay | Exer | |
| Philip Norwood, 51 Chairman,
Pres, CEO | $271K | $690K | Bob Scott, 63 Exec.
VP, COO, Sec. and Treasurer | 156K | 22K | Dollar
amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.; "Exer" is the value of options excercised during the fiscal year. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|