Liquidity management remains a primary focus, evidenced by a significant increase in cash and cash equivalents to $115.5M in 2026Q1 from $37.7M in 2024Q1.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 |
|---|
| Cash from Operations | 13.55M | 6.59M | 5.85M | -2.38M | 13.72M | 7.47M | 3.72M | 24.46M | 3.75M | 4.24M | 5.22M | 4.52M | 4.86M | 6.38M | 8.53M | 6.8M | 6.33M | 4.95M | 5.66M | 3.48M | 1.94M | 4.87M | 4.32M | 2.05M |
| Operating CF Growth % | 382.4% | 12.73% | 345.8% | -117.35% | 83.54% | 101.02% | -84.8% | 552.94% | -11.69% | -18.8% | 15.6% | -7.09% | -23.73% | -25.23% | 25.39% | 7.47% | 27.96% | -12.66% | 62.82% | 79.37% | -60.18% | 12.75% | 110.68% | - |
| Net Income | 5.98M | 6.8M | -4.19M | 10.82M | 16.97M | 14.7M | 10.52M | 6.48M | 5.83M | 3.29M | 4.97M | 6.03M | 5.49M | 4.32M | 3.45M | 2.23M | 1.81M | 2.08M | 1.01M | 1.94M | 2.81M | 3.13M | 2.67M | 2.17M |
| Depreciation & Amortization | 367K | 380K | 392K | 385K | 391K | 408K | 433K | 498K | 346K | 339K | 312K | 390K | 425K | 617K | 710K | 1.08M | 766K | 809K | 891K | 820K | 711K | 632.17K | 510K | 390K |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 292K | 0 | -358K | -996K | 0 | 0 | 0 | 0 | 0 | 3.15M | 0 | -287K | -245K | -377K | -50K |
| Other Non-Cash Items | 3.7M | 2.71M | 9.47M | -4.9M | -7.56M | -7.9M | -5.7M | 18.13M | -1.44M | -955K | -94K | -1.48M | -1.07M | 0 | 0 | 2.82M | 3.72M | 3.68M | 4.64M | 618K | -952K | 504.52K | 1.33M | -36K |
| Working Capital Changes | 2.72M | -4.03M | 592K | -8.71M | 3.31M | -196K | -1.6M | -879K | -1.14M | 1.25M | 18K | -442K | -11K | 790K | 2.53M | 634K | -3K | -1.65M | -886K | 95K | -341K | 847.2K | 192K | -420K |
| Cash from Investing | 107.3M | 78.98M | 36.79M | -20.18M | -117.18M | -74.95M | -168.65M | -72.26M | -59.55M | -52.39M | 5.62M | -56.93M | 4.07M | -16.91M | -49.81M | -47.39M | -2.25M | 20.24M | -38.15M | -26.01M | -22.29M | -46.36M | -22.89M | -12.61M |
| Purchase of Investments | 0 | 0 | -3.58M | -583K | -34.03M | -35.7M | -65.91M | 0 | -3.48M | -16.97M | -71.01M | -19.51M | -19.79M | -24.22M | -111.31M | -85.98M | -27.58M | -24.88M | -28.84M | -17.01M | -1.12M | -17.26M | -29.6M | 0 |
| Sale/Maturity of Investments | 6.75M | 5.5M | 16.18M | 998K | 2.3M | 30.94M | 61.91M | 19.08M | 10.24M | 46.33M | 87.55M | 18.82M | 18.41M | 14.15M | 75.43M | 32.9M | 21.62M | 38.59M | 21.59M | 5.37M | 9.89M | 5.62M | 5.85M | 0 |
| Net Investment Activity | 6.75M | 5.5M | 12.6M | 415K | -31.73M | -4.75M | -4M | 19.08M | 6.76M | 29.36M | 16.55M | -686K | -1.38M | -10.07M | -35.89M | -53.09M | -5.95M | 13.71M | -7.25M | -11.63M | 8.77M | -11.63M | -23.74M | 0 |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -10.31M | 0 | 5.5M | 0 | 0 | 5.46M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | 101.38M | 73.52M | 24.42M | -20.36M | -85.28M | -70.11M | -164.52M | -90.35M | -65.44M | -81.54M | -10.69M | 0 | 6.17M | 0 | 0 | 5.89M | 4.05M | 7.3M | -30.65M | -13.23M | -30.82M | -33.99M | 1.77M | -11.05M |
| Cash from Financing | -77.81M | -71.45M | -49.03M | 2.79M | 140.33M | 77.35M | 157.46M | 64.41M | 6.68M | 92.73M | -2.2M | 46.69M | -1.75M | 6.68M | 52.97M | 36.4M | 5.47M | -25.91M | 23.34M | 24.56M | -34.6M | 93.79M | 12.36M | 11.15M |
| Dividends Paid | 0 | 0 | -1.9M | -3.25M | -3.23M | -2.99M | -2.91M | -2.91M | -2.91M | -2.75M | -2.31M | -2.39M | -2.24M | -2.25M | -2.23M | -2.29M | -2.13M | -2.1M | -1.71M | -1.74M | -1.47M | -1.21M | -1.01M | 0 |
| Share Repurchases | -12K | 0 | 0 | 0 | 0 | 0 | 0 | 5.32M | 0 | 0 | 0 | -13.75M | 0 | 0 | 0 | -8.5M | 0 | 0 | -6K | -881K | 0 | 0 | 0 | 0 |
| Stock Issued | 0 | 0 | 0 | 0 | 0 | 33K | 0 | 14K | 120K | 121K | 1K | 0 | 0 | 169K | 0 | 0 | 0 | 0 | 0 | 259K | 19.3M | 0 | 0 | 0 |
| Net Stock Activity | -12K | 0 | 0 | 0 | 0 | 33K | 0 | 5.34M | 120K | 121K | 1K | -13.75M | 0 | 169K | 0 | -8.5M | 0 | 0 | -6K | -622K | 19.3M | 0 | 0 | 0 |
| Debt Issuance (Net) | 0 | 0 | 0 | -1000K | -1000K | -1000K | 1000K | -1000K | 1000K | -1000K | 1000K | 1000K | -1000K | 1000K | 1000K | 1000K | -1000K | -1000K | 1000K | 1000K | 1000K | -1000K | -1000K | 0 |
| Other Financing | -77.79M | -71.45M | -47.13M | 47.04M | 151.06M | 85.31M | 152.46M | 72.66M | -32.2M | 149.38M | -12.99M | 42.02M | 13.99M | 264K | 28.95M | 31.77M | 15.72M | 11.49M | -13.23M | -1.65M | -46.13M | 112.42M | 17.9M | 11.15M |
| Net Change in Cash | 43.05M | 14.12M | -6.39M | -19.78M | 36.87M | 9.87M | -7.47M | 16.61M | -49.12M | 44.58M | 8.65M | -5.73M | 7.18M | -3.85M | 11.69M | -4.19M | 9.55M | -717K | -9.15M | 2.2M | -54.95M | 52.3M | -6.21M | 590K |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 65.52M | 51.4M | 57.79M | 77.57M | 40.7M | 30.83M | 38.3M | 21.69M | 70.81M | 26.23M | 17.58M | 23.31M | 16.13M | 19.98M | 8.29M | 12.48M | 2.93M | 3.65M | 12.8M | 10.61M | 65.56M | 13.25M | 19.46M | 0 |
| Cash at End | 115.46M | 65.52M | 51.4M | 57.79M | 77.57M | 40.7M | 30.83M | 38.3M | 21.69M | 70.81M | 26.23M | 17.58M | 23.31M | 16.13M | 19.98M | 8.29M | 12.48M | 2.93M | 3.65M | 12.8M | 10.61M | 65.55M | 13.25M | 590K |
| Interest Paid | 22.07M | 24.84M | 28.22M | 24.35M | 6.44M | 4.59M | 6.14M | 6.99M | 3.83M | 2.08M | 1.26M | 947K | 1.01M | 1.27M | 2.08M | 2.95M | 3.54M | 0 | 9.29M | 11.72M | 0 | 0 | 0 | 0 |
| Income Taxes Paid | 360K | 360K | 429K | 6.46M | 5.65M | 5.69M | 5.69M | 2.14M | 3.22M | 2.67M | 3.59M | 3.06M | 3.27M | 3.27M | 0 | 1.47M | 2.06M | 0 | 510K | 1.45M | 0 | 0 | 0 | 0 |
| Free Cash Flow | 13.51M | 6.55M | 5.62M | -2.62M | 13.54M | 7.38M | 3.59M | 23.46M | 2.88M | 4.04M | 5M | 4.43M | 4.14M | 5.42M | 8.39M | 6.61M | 5.98M | 4.19M | 5.41M | 2.34M | 1.94M | 4.14M | 3.4M | 490K |
| FCF Growth % | 655.59% | 16.53% | 314.47% | -119.35% | 83.43% | 105.54% | -84.69% | 715.82% | -28.76% | -19.21% | 12.7% | 7.08% | -23.53% | -35.46% | 26.89% | 10.57% | 42.82% | -22.61% | 131.49% | 20.53% | -53.12% | 21.76% | 593.27% | - |
Geographic and credit concentration
According to recent financial disclosures, Summit State Bank's net income volatility, highlighted by a $7.1M loss in 2024Q4 followed by a $1.7M profit in 2026Q1, suggests that organic capital generation remains highly sensitive to credit provisioning cycles rather than consistent core operational earnings growth.
The bank's ability to retain capital is frequently interrupted by lumpy provision expenses, which complicates long-term capital planning. Investors should monitor whether the current return to profitability is sustainable or merely a function of reduced provisioning requirements following the 2024 credit cycle stress.
As reported in quarterly cash flow statements, the bank has consistently utilized its investment securities portfolio as a liquidity source, with net sales reaching $10.2M in 2024Q3, indicating a strategic preference for maintaining cash buffers over holding longer-duration, yield-generating investment assets in the current environment.
The persistent liquidation of securities suggests that the bank is prioritizing balance sheet liquidity to offset potential loan book volatility. This trend warrants further investigation into the remaining duration and yield profile of the portfolio, as the bank may be depleting its secondary liquidity reserves to support operations.
Based on the provided cash flow data, the bank's operating cash flow is significantly distorted by credit loss provisions, most notably the $6.7M expense in 2024Q4, which underscores the bank's vulnerability to localized economic shocks within its concentrated Sonoma County commercial real estate loan portfolio.
The wide variance in operating cash flow, ranging from negative figures in 2025Q1 to $7.2M in 2025Q3, reflects the non-linear nature of credit costs in a community bank model. This volatility suggests that cash flow from operations is a poor proxy for core profitability and should be viewed through the lens of credit cycle management.
As evidenced by the cessation of dividend payments since 2025Q1, the bank appears to have shifted toward a capital preservation stance, likely in response to the earnings volatility and the need to maintain a fortress-like balance sheet amidst regional economic uncertainty in the North Bay.
The suspension of dividends suggests that management is prioritizing regulatory capital ratios over shareholder distributions during this period of revenue contraction. Investors should monitor whether this capital retention strategy is intended to fund future loan growth or simply to provide a cushion against potential asset quality deterioration.
Quick answers to the most common questions about buying SSBI stock.
Summit State Bank (SSBI) generated $6.6M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Summit State Bank (SSBI) generated $6.5M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
Summit State Bank (SSBI) spent $0.0M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.