Summit State Bank posts best year in history

<p>Summit State Bank reported Monday that its annual earnings jumped 55 percent last year to $3.4 million, the best performance in its 38-year history.</p><p>The Santa Rosa bank's assets rose 15 percent last year to $444.9 million, President/CEO Thomas Duryea said in a statement.</p><p>Nonperforming assets declined to $9.7 million, down 28 percent from a year earlier. Summit reported those assets include a $4.1 million foreclosed commercial property that is producing income for the bank.</p><p>Total deposits increased 9 percent to $341 million.</p><p>Summit on Monday announced it would continue its quarterly dividend of 9 cents per share, payable on Feb. 23.</p><p>The bank has five branches in Sonoma County.</p>