Summit State Bank (Summit State Bank) Interest Expense : $-27.24 Mil (TTM As of Mar. 2024)

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What is Summit State Bank Interest Expense?

Interest Expense is the amount reported by a company or individual as an expense for borrowed money. Summit State Bank's interest expense for the three months ended in Mar. 2024 was $ -7.07 Mil. Its interest expense for the trailing twelve months (TTM) ended in Mar. 2024 was $-27.24 Mil.

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income(EBIT) by its Interest Expense. Summit State Bank's Operating Income for the three months ended in Mar. 2024 was $ Mil. Summit State Bank's Interest Expense for the three months ended in Mar. 2024 was $ Mil. The higher the ratio, the stronger the company's financial strength is. Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Summit State Bank Interest Expense Historical Data

The historical data trend for Summit State Bank's Interest Expense can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Summit State Bank Interest Expense Chart

Summit State Bank Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Expense

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-7.03

-6.16

-4.37

-6.53

-24.78

Summit State Bank Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Interest Expense	Get a 7-Day Free Trial															-4.61	-5.96	-7.00	-7.21	-7.07

Summit State Bank Interest Expense Calculation

Interest Expense is the amount reported by a company or individual as an expense for borrowed money.

Interest Expense for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $-27.24 Mil.

Summit State Bank (Summit State Bank) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Summit State Bank (NAS:SSBI) » Definitions » Interest Expense

Comparable Companies

Traded in Other Exchanges

N/A

Address

500 Bicentennial Way, Santa Rosa, CA, USA, 95403

Website

https://www.summitstatebank.com

Summit State Bank is a state-chartered commercial bank operating a traditional community banking business within the primary service area of Sonoma County in California, however, it also considers and makes loans to borrowers primarily from Marin, Napa, and San Francisco counties. The bank provides a broad array of financial services to small to medium-sized businesses and their owners and employees, entrepreneurs, high-net-worth families, foundations, estates, and individual consumers. Its lending activities are primarily focused on commercial real estate, construction, and business loans to targeted clientele. The bank also has loan production offices in California (Roseville, Irvine, and Tustin), Arizona (Scottsdale), Texas (Montgomery), and Washington (Mukilteo).