Summit State Bank.
SSBI.US | Other monetary intermediation
Summit State Bank is a community bank providing a range of financial services to individuals and businesses. These services include checking and savings accounts, loans (such as commercial, real estate, and consumer loans), and other banking products. The bank focuses on serving the local community ...Show More
Better Health for All
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No evidence available to assess Summit State Bank on Better Health for All.
Fair Money & Economic Opportunity
-40
Summit State Bank allocated $9.2 million in 2022 to affordable housing projects, supporting 89 units for low-income and very low-income residents, and provided an additional $17.6 million in community development loans in the same year.
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These amounts total $26.8 million, which represents approximately 2.23% of the bank's $1.2 billion in assets as of June 30, 2023.
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The bank operates 5 branches, all located in Sonoma County.
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Fair Pay & Worker Respect
0
No evidence available to assess Summit State Bank on Fair Pay & Worker Respect.
Fair Trade & Ethical Sourcing
0
No evidence available to assess Summit State Bank on Fair Trade & Ethical Sourcing.
Honest & Fair Business
-50
Summit State Bank revised its 4Q and full-year 2024 financial results due to an updated appraisal report, a new CECL model adoption, and a one-time non-cash goodwill impairment charge, constituting one restatement for 2024.
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Policies are in place to prevent conflicts of interest and bribery, but the provided information does not detail their strength, enforcement, or specific guidance on issues like facilitation payments or gift thresholds.
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The bank maintains a confidential voice mailbox for reporting violations and prohibits retaliation against whistle-blowers, but there is no evidence of independent investigation processes.
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Kind to Animals
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Summit State Bank (SSBI.US) is a community bank providing financial services. The provided articles do not contain any specific information regarding SSBI.US's practices or policies related to animal welfare, animal testing, animal-derived products, or habitat conservation. Given the company's service-oriented business model, all KPIs related to animal products, testing, or direct agricultural operations are not applicable, aligning with the 'N/A' tier (score 0) in the rubric.
No War, No Weapons
0
Based on the provided documents, there is insufficient evidence to determine Summit State Bank's alignment with the 'No War, No Weapons' value. The bank operates as a typical community bank, providing standard banking services within its local geographic area. The provided articles, including the bank's financial reports and online banking security procedures, do not contain any information regarding involvement in arms manufacturing, military contracts, or conflict facilitation
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. The Yahoo Finance sustainability data is also unavailable
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. Therefore, a neutral score is assigned due to the lack of relevant evidence. While the GABV report discusses finance for war and peace, it does not mention Summit State Bank
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. The bank's business model is fundamentally neutral to the 'No War, No Weapons' value, as indicated by the materiality analysis.
Planet-Friendly Business
0
No data relevant to Summit State Bank's planet-friendly business practices, environmental performance, or climate initiatives was found in the provided articles. The articles either focused on the company's financial performance and online banking services, explicitly stating a lack of environmental data, or discussed state-level environmental policies and energy statistics for Oregon, which cannot be attributed to the company's specific operations or commitments.
Respect for Cultures & Communities
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No specific, concrete data points were found in the provided articles to assess Summit State Bank against any of the KPIs for 'Respect for Cultures & Communities'. , while detailing general contributions to Sonoma County Nonprofits, explicitly states that it does not provide data for most of the relevant metrics, including cultural appropriation incidents, cultural impact assessments, local employment ratios, grievance mechanisms, FPIC participation, community governance inclusion, cultural preservation investment, local procurement, indigenous supplier engagement, cultural site protection, social license to operate, charitable giving to cultural heritage organizations, community fund allocation, language inclusivity, cultural incident response, or cultural training completion.
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Furthermore, the article does not provide revenue figures needed to calculate percentages for KPIs like 'revenue_reinvested_local' or 'charitable_giving_cultural', nor does it specify if contributions were directed to indigenous or cultural heritage groups as required by some KPIs.
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The other articles focus on banking services and security and contain no relevant information.
Safe & Smart Tech
-40
Summit State Bank experienced a security incident between October 16, 2023, and October 25, 2023, involving unauthorized access to an employee's email account.
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This incident compromised sensitive consumer information, including names, social security numbers, dates of birth, addresses, government IDs, medical information, and financial information.
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The bank's privacy policy mentions the use of one-time codes for login security.
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Zero Waste & Sustainable Products
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No evidence was found in the provided articles regarding Summit State Bank's performance on any of the Zero Waste & Sustainable Products KPIs, including waste diversion, product recyclability, packaging sustainability, recycled content, single-use plastic reduction, take-back programs, circular design principles, waste reduction initiatives, hazardous waste management, product durability, repairability, waste audit frequency, zero waste certification, waste disposal violations, material efficiency, packaging-to-product ratio, waste reduction targets, supplier waste requirements, or customer waste education.
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The articles primarily focus on financial performance, executive compensation, and online banking services and security.