History
Timeline
- December 1914 State Bank of Concrete Opened
- 1938 the Ross and Thompson families purchased the State Bank of Concrete
- February 2005 State Bank of Concrete purchased and renamed Summit Bank
- February 2005 Loan Production Office Opened in Mount Vernon
- April 2005 Full Service Mount Vernon Branch Opened
- January 2007 Full Service Burlington Branch Opened
- December 2008 Full Service Mount Vernon Branch Opened
- Summit Bank reached $100 Million in total assets on 12.19.07
Summit Bank was formerly known as the State Bank of Concrete. The State Bank of Concrete operated solely in Concrete, Washington, which is a small town in the beautiful Cascade foothills. The State Bank of Concrete was formed on December 14, 1914 by J. S. Wixson, J. Guddal and S. A. Post. Wixson, Guddal and Wixson operated the bank until the Ross and Tompson families purchased the bank in 1938 and owned and operated the State Bank of Concrete until its sale on February 26, 2005.
On February 26, 2005 the bank was renamed Summit Bank and a Loan Production Office was opened in Mount Vernon, Washington at 2120 Freeway Drive. The 4,100-square foot facility opened as a full-service branch on April 7, 2005. In 2007, we opened our headquarters in Burlington, Washington, with a 8,000 square foot facility which holds our Operations, Lending, and Audit staff. Chief Executive Officer and Chairman of the Board Jim Bishop and Chief Credit Officer and President Jim Bishop II, along with the loan officers and loan support staff, oversee the lending dimension of the bank. The Burlington office has a three drive through lanes, an ATM, a full staff to service your deposit and lending needs.
We opened our 5,500 square foot two storey Mount Vernon Branch in December of 2008, relocating our Mount Vernon staff and data processing from 2120 Freeway Drive, Mount Vernon to 1725 E. College Way. The Mount Vernon branch has three drive through lanes, an ATM, a full deposit and lending staff to service your banking needs. Additionally, the Mount Vernon branch houses our Compliance Department and SB Insurance agent Kent Erickson. SB Insurance sells a wide variety of insurance products from home, auto, health, flood to commercial and specialty products.
Market Area
Summit Bank’s market area includes all of Skagit County, South Whatcom County, and the northern part of Whidbey Island. The Skagit County’s principal economic centers are Anacortes, Burlington, Mount Vernon, and Sedro Woolley. The county has experienced considerable residential and commercial growth over the past decade.
Summit Bank would like to deliberately grow over the next several decades and extend our service area farther into Whatcom and Island counties. Summit Bank would like to continue to provide the Pacific Northwest a small independent bank option, as we believe that we can provide local, responsive service, which the large community banks and national banks are unable to give to their customers.
Our Business
Summit Bank differentiates itself from its competitors by emphasizing its local ownership, local Board, local management, and local, experienced staff. The Bank provides commercial, commercial real estate, agricultural, and consumer loans as well as provides deposit services and products to individuals, non-profits, and small businesses. Summit Bank also has a wholly owned subsidiary, SB Insurance, which is an independent Met Life and Progressive insurance agent.
The goal and focus of Summit Bank is to provide the type of relationship banking no longer provided by large banks and disappearing from larger independent banks. With experienced bankers and a focused approach to serve the mid-sized businesses and individuals in the market area, Summit Bank believes that it can distinguish itself from the competition.
