Financial Security & Stability of Summit Bank

Summit Bank would like to update our clients, shareholders and friends on the financial stability and security of the Bank
in light of recent events in the banking industry.

We are very pleased with our financial position and solid balance sheet. As of March 16th, 2023, Summit Bank had $191
million of cash and $62 million of available-for-sale securities. Further, the Bank maintains $204 million of unused and
fully available borrowing capacity at the Federal Home Loan Bank. This cash, securities and borrowing capacity of over
$450 million represented over 44% of our assets as of March 16th, 2023. This liquidity will allow us to respond to any
additional market disruptions. We are extremely proud that our prudent management and safe and sound business
practices put us in this enviable position regarding cash and available borrowings.

Our ability to operate seamlessly over the last week has been a testament to the financial foundation of the Bank and the
confidence our clients have in Summit’s ability to weather the current economic environment. Summit has also recently
acquired significant deposits from new clients seeking the stability and services of Summit Bank. Our team stands by and
is ready to help additional new clients with questions or who would like to discuss banking at Summit.

Many banks have experienced significant erosion of capital due to the rising rate environment, including Silicon Valley
Bank. Because of our conservative approach, we have had no decline in our regulatory capital and only very small
unrealized losses in our investment portfolio due to the rising interest rate environment and we do not anticipate realizing
any capital impact. Summit Bank remains at the highest level of regulatory standards for capital and is considered well capitalized.
We have never banked nor plan on banking in the foreseeable future, private equity firms, or venture capitalists. In
addition, the Bank has no plans to have any exposure to crypto currency or digital assets.

Summit Bank continues to operate a safe and sound traditional commercial banking business model. We bank people we
know in the communities in which we live and serve. We utilize tried-and-true banking solutions that have stood the test of

If any client or prospective client would like to discuss their current FDIC insurance levels, products available to increase
FDIC insurance, or has any general questions regarding the current environment, please feel free to call me, our CFO Scott
Goldstein, or a banker at Summit Bank. We can be reached at 541-684-7500.

Craig A. Wanichek

President & CEO

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